SICC Co., Ltd. (2631) Fair Value & Analysis
Technology · HK · Market cap HK$42.2B
Risks
Fair value as of: Aug 23, 2026
From 4 valuation models · updated 3 days ago
Fair value updated Aug 23, 2026, revised from HK$19.15 to HK$19.18 (+0.2%) since Aug 13, 2026. Share price +6.7% over the past month.
Below-average quality, and trading another 244% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (HK$22.27). The favourable scenario is already priced in.
- Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (12 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 23, 2026.
How to read this chart
12‑month range HK$42.02 – HK$128.70 · fair‑value band HK$16.09 – HK$22.27 · the HK$66.00 price screens above the HK$19.18 fair value. As of Aug 23, 2026.
Analysis
SICC Co., Ltd. (2631) currently trades at HK$66.00, while our model-based Fair Value estimate is HK$19.18, implying the stock looks roughly 70.9% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Technology 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: low).
Over the trailing twelve months, SICC Co., Ltd. generated revenue of HK$1.4B at a net margin of -19.5%. Revenue declined 10.4% year over year. It earns a return on equity of -4.5%. Fundamentals as of Aug 23, 2026
Our scenario range runs from HK$16.09 (bear case) to HK$22.27 (bull case); at HK$66.00, 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 52% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -72% fair-value upside, at -71%, 2631 screens cheaper 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 4 models by family
Widest divergence: Multiples (HK$12.47) versus Dividend Discount (HK$0.7000). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 41
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
SICC Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of silicon carbide substrate materials in China and internationally. The company is involved in the industrialization of silicon carbide substrates for the renewable energy and AI sectors.
Full company description
SICC Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of silicon carbide substrate materials in China and internationally. The company is involved in the industrialization of silicon carbide substrates for the renewable energy and AI sectors. It also offers conductive silicon carbide single crystal and semi-insulating substrate materials. In addition, the company engages in technical development, consultation, and promotion services; production of graphite and carbon products, and wide bandgap semiconductor substrate materials; research and development of special electronic materials and technologies; and investment activities. Its products are used in the microwave electronics and power electronics fields, as well as for new energy vehicles, AI data centers, photovoltaic systems, AI glasses, rail transportation, power grids, home appliances, and advanced communication base stations. The company exports its products. The company was formerly known as SICC Materials Co., Ltd. and changed its name to SICC Co., Ltd. in November 2020. SICC Co., Ltd. was founded in 2010 and is based in Jinan, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SICC Co., Ltd. reported revenue of HK$1.5B in FY2025 versus HK$494M in FY2021, a compound +31.2%/yr. Reported net income was −HK$208M in FY2025.
2631 screens 71% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 215 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 Semiconductor Equipment & Materials 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.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | €1,542 | €604.27 | -61% |
| Applied Materials, Inc AMAT | $548.15 | $183.10 | -67% |
| Lam Research Corporation LRCX | $326.11 | $91.80 | -72% |
| KLA Corporation KLAC | $194.79 | $74.58 | -62% |
| NAURA Technology Group 002371 | ¥707.90 | ¥205.30 | -71% |
| Teradyne, Inc TER | $402.74 | $65.80 | -84% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥380.95 | ¥55.05 | -86% |
| Piotech Inc 688072 | ¥685.11 | ¥89.27 | -87% |
| Hon. Precision, Inc 7769 | 6,445 TWD | 1,804 TWD | -72% |
| Hangzhou Changchuan Technology Co 300604 | ¥287.11 | ¥46.26 | -84% |
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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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