Zhejiang Shibao Company (002703) Fair Value & Analysis
Consumer Cyclical · CN · Market cap 13.2B CNY
Fair value as of: Jul 5, 2026
From 25 valuation models · updated 36 days ago
Fair value updated Jul 5, 2026, revised from ¥6.56 to ¥4.55 (−30.6%) since Jun 25, 2026. Share price +11.5% over the past month.
A solid business, but screening 70% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥5.69). The favourable scenario is already priced in.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥2.55 to ¥5.69) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 5, 2026.
How to read this chart
60‑month range ¥3.96 – ¥27.76 · fair‑value band ¥2.55 – ¥5.69 · the ¥15.09 price screens above the ¥4.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 5, 2026.
Analysis
Zhejiang Shibao Company (002703) currently trades at ¥15.09, while our model-based Fair Value estimate is ¥4.55, implying the stock looks roughly 69.9% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Zhejiang Shibao Company generated revenue of 3.6B CNY at a net margin of 4.8%. Revenue grew 4.9% year over year. It earns a return on equity of 9.3%. The balance sheet holds a net cash position of 337M CNY. Fundamentals as of Jul 5, 2026
Our scenario range runs from ¥2.55 (bear case) to ¥5.69 (bull case); at ¥15.09, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -70%, 002703 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 25 models by family
Widest divergence: Growth Earnings (¥5.62) versus Dividend Discount (¥1.01). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 29
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Zhejiang Shibao Company Limited, together with its subsidiaries, researches, develops, manufactures, and sells automotive steering systems and other key steering system components in the People's Republic of China.
Full company description
Zhejiang Shibao Company Limited, together with its subsidiaries, researches, develops, manufactures, and sells automotive steering systems and other key steering system components in the People's Republic of China. It offers electric power steering products, including electric power recirculating ball steering gear, electro-hydraulic power recirculating ball steering gear, pinion- assisted and double-pinion-assisted electric power steering, rack-assisted electric power steering, and column-assisted electric power steering; and intelligent steering products, such as steering by wire system, lane keeping aid, rear wheel steering, fully redundant electric-hydraulic and dual motor redundant electric power recirculating ball steering gear. The company also provides hydraulic power steering gear products comprising dual circuit hydraulic power recirculating ball steering gear, hydraulic power recirculating ball steering gear, and hydraulic power rack and pinion steering gear; manual steering gear products, including manual recirculating ball steering gear, and manual rack and pinion steering gear; and steering parts, such as electric four-way adjustable steering column, 18-tooth spline injection molded intermediate shaft, 16-teeth injection slider intermediate shaft, ball-slider intermediate shaft, manual four-way adjustable steering column, steering knuckle and cylinder, pitman arm, hub bracket, and ECU, as well as castings and component products. It supplies steering products to automobile industry. The company was founded in 1984 and is based in Hangzhou, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zhejiang Shibao Company reported revenue of ¥3.5B in FY2025 versus ¥1.2B in FY2021, a compound +31.7%/yr. Reported net income was ¥181M in FY2025, compounding +51.6%/yr from FY2021.
002703 screens 70% overvalued. Compare with Hyundai Mobis Co →
Peer Group
Auto Parts · 642 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Auto Parts median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Hyundai Mobis Co 012330 | 482,000 KRW | 678,420 KRW | +41% |
| Magna International Inc MGAN | 1,122 MXN | 1,172 MXN | +4% |
| Samvardhana Motherson International Limited MOTHERSON | ₹144.17 | ₹80.63 | -44% |
| Bosch Limited BOSCHLTD | ₹41,110 | ₹14,004 | -66% |
| Bharat Forge Limited BHARATFORG | ₹2,117 | ₹441.74 | -79% |
| Uno Minda Limited UNOMINDA | ₹1,158 | ₹426.57 | -63% |
| Schaeffler India Limited SCHAEFFLER | ₹4,135 | ₹1,412 | -66% |
| Hankook Tire & Technology Co 161390 | 73,600 KRW | 196,479 KRW | +167% |
| MRF Limited MRF | ₹131,025 | ₹125,849 | -4% |
| Sona BLW Precision Forgings Limited SONACOMS | ₹792.00 | ₹207.06 | -74% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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