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Jiangsu New Vision Automotive (2632) fair value: what the stock is really worth

As of Oct 23, 2026: fair value (intrinsic value) of Jiangsu New Vision Automotive stock HK$26.50, price HK$51.00, upside -48.0%, quality 37 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology · HK · Based in China

JN Jiangsu New Vision Automotive logo Thin data Oct 26, 2026

Jiangsu New Vision Automotive

2632 · HK

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 48% below what the stock costs today.

Generates free cash flow
Mixed Growth (revenue 3y +46.0 %/yr in HKD)
Negative equity (buybacks among others)
Fair value HK$26.50 · Strongly overvalued (−48.0%)
Quality 37/100
Loss-making · -124.6% net margin (TTM)
Trails peers (0/7)
Narrow moat 0/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$133.80 HK$27.88 Fair Value HK$26.50 Mar 2026 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 26, 2026.

How to read this chart

7‑month range HK$27.88 – HK$133.80 · fair‑value band HK$19.52 – HK$33.48 · the HK$51.00 price screens above the HK$26.50 fair value. As of Oct 26, 2026.

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Company profile

Jiangsu New Vision Automotive Electronics, Co., Ltd engages in the research and development of head-up display solutions in China.

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The company's products include CyberLens, its windshield HUD (W-HUD) solution that uses windshield projection technology to display basic driving information, such asspeed, navigation directions, driving assistance alerts and media information; and CyberVision, its augmented reality HUD (AR-HUD) solution that uses algorithms and optical imaging to overlay virtual information.

The company sells its products to original equipment manufacturing customers.

Its solutions including optical design solutions, such as design and testing of optical imaging systems and lighting solutions, stray light analysis and visualization, optical standards and custom tool development, 2D/3D display visualization and simulation; hardware solutions, such as circuit design and simulation, PCB design and performance analysis, mechanical design and engineering simulation, integrated optical-mechanical system design, standardized structural design database; verification and validation solutions, such as testing of optical imaging performance, testing of mechanical and environmental stress, testing of electrical and EMC compliance; software validation; hardware-in-the-loop, and real-world vehicle testing; software algorithm solutions, such as embedded software development, image processing algorithms, driving scenario simulation & HMI design, development of ASPICE-Compliant Process, functional safety and cybersecurity.

Additionally, the company offers full-stack proprietary technology architecture that integrates hardware and software capabilities across optical design, mechanical engineering, electronics design, software algorithms and human-machine interface (HMI), as well as rigorous verification and validation processes.

Jiangsu New Vision Automotive Electronics, Co., Ltd was incorporated in 2015 and is based in Yizheng, China.

Stock analysis

Jiangsu New Vision Automotive (2632) currently trades at HK$51.00, while our model-based Fair Value estimate is HK$26.50, 48.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$3.38 per share, and 0 of the 6 models we run sit above the HK$51.00 price.

Bear case: the Growth DCF group reads lowest at HK$3.22, and 6 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: HK$19.52 (bear) to HK$33.48 (bull), the price of HK$51.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Jiangsu New Vision Automotive reported revenue of 667M CNY in FY2025 versus 214M CNY in FY2022, a compound +46.0%/yr. Reported net income was −676M CNY in FY2025.

Key figures

Market cap HK$7.2B (≈ $912M) Small · P/S ratio 10.6 · Net margin −101% · Return on assets (EBIT) −8.3% · Operating margin −15.0% · Revenue (TTM) 673M CNY · Revenue growth (YoY) +2.1% · Free cash flow 7.5M CNY.

What moves the price

For context, the median of 10 Technology peers we cover trades at −44% fair-value upside, at −48%, 2632 screens richer than that median.

Fair Value models

Bear HK$19.52 Fair Value HK$26.50 Bull HK$33.48
Price HK$51.00 · Upside -48.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF HK$2.77 HK$3.38 HK$5.15 77
Growth DCF HK$2.68 HK$3.49 HK$4.93 76
5Y Revenue Exit HK$2.37 HK$2.98 HK$4.27 70
All 6 models by family
DCF Models
FCF DCF HK$2.77 HK$3.38 HK$5.15 77
5Y Revenue Exit HK$2.37 HK$2.98 HK$4.27 70
10Y Revenue Exit HK$2.49 HK$3.54 HK$4.13 65
Multiples
EV/Revenue HK$2.10 HK$2.41 HK$2.73 54
Growth DCF
Growth DCF HK$2.68 HK$3.49 HK$4.93 76
Rev-Margin DCF HK$2.38 HK$3.22 HK$4.80 70

Open the full fair value analysis →

Quality Score breakdown

Overall quality 37/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 24
How much profit the company makes from its sales and capital
Quality Growth 36
Are margins and returns getting better?
Cashflow 49
Do the profits arrive as real cash?
Financial strength 18
Debt, balance sheet and risk of trouble
Investment 50
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 15
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 100
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+46.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−38.3% (2022) → −8.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.

2632 screens overvalued: fair value 48% below the price. Compare with Amphenol Corporation →

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Peer Groupⓘ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.Electronic Components · 642 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −48.0% · Below median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −85.1% · Bottom 25%
Net margin (12 months) −124.6% · Bottom 25%
Operating margin (12 months) −15.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 2.1% · Below median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Electronic Components median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 9.02× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)11 · sector 63
PAST (return on equity)0 · sector 28
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)0 · sector 24

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Amphenol Corporation APH $73.07 $80.38 +10% vs 2632
Yageo Corporation 2327 523.00 TWD 527.72 TWD +1% vs 2632
Asia Vital Components Co 3017 3,235 TWD 2,737 TWD −15% vs 2632
TE Connectivity plc TEL $214.09 $143.13 −33% vs 2632
Shengyi Technology Co 600183 ¥118.99 ¥66.42 −44% vs 2632
Celestica Inc CLS $260.01 $109.91 −58% vs 2632
Luxshare Precision Industry Co 002475 ¥47.98 ¥18.44 −62% vs 2632
Delta Electronics, Inc 2308 1,605 TWD 519.57 TWD −68% vs 2632
Corning Incorporated GLW $123.99 $33.79 −73% vs 2632
Samsung Electro-Mechanics Co 009150 1,168,000 KRW 171,572 KRW −85% vs 2632

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Jiangsu New Vision Automotive · Fair Value
HK$26.50 −48%Fair Value
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Cite: Fair Value Calculator (2026). "Jiangsu New Vision Automotive Fair Value". https://www.fairvalue-calculator.com/stock/2632

Frequently asked questions

Is Jiangsu New Vision Automotive (2632) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of HK$26.50 versus a price of HK$51.00, about −48% upside (overvalued).
What is the fair value of 2632?
Our model-based fair value for Jiangsu New Vision Automotive is HK$26.50 (as of Oct 26, 2026), built from audited fundamentals. The current price: HK$51.00.
What is the quality score of 2632?
Jiangsu New Vision Automotive has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Jiangsu New Vision Automotive (2632)?
Our model-based price target is the fair value of HK$26.50 (as of Oct 26, 2026) from 6 valuation models. Cautious scenario HK$19.52, optimistic scenario HK$33.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Jiangsu New Vision Automotive stock forecast for 2026?
Our models put fair value at HK$26.50, about −48% upside versus a price of HK$51.00 (overvalued). Cautious scenario HK$19.52, optimistic scenario HK$33.48. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangsu New Vision Automotive (2632)?
Jiangsu New Vision Automotive reported trailing-twelve-month revenue of about 673M CNY (latest available figure, as of Oct 26, 2026).
What growth is priced into Jiangsu New Vision Automotive (2632)?
For today's price to be fair in a discounted-cash-flow model, Jiangsu New Vision Automotive would have to grow free cash flow by more than 80 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +46.0 % per year. As of Oct 26, 2026.
What discount rate (WACC) does the fair value of 2632 use?
Our models discount Jiangsu New Vision Automotive at 11.8 %: a base by market capitalisation (small), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Jiangsu New Vision Automotive that is more than 80 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Jiangsu New Vision Automotive (2632) delivered so far?
Over the past 3 years revenue at Jiangsu New Vision Automotive grew +46.0 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Jiangsu New Vision Automotive (2632) growing?
The median revenue growth in the sector is +16.6 % a year. That is the yardstick for the growth priced into Jiangsu New Vision Automotive (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jiangsu New Vision Automotive (2632)?
The free-cash-flow yield on the price is 0.14 %: that much free cash flow Jiangsu New Vision Automotive produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jiangsu New Vision Automotive (2632)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangsu New Vision Automotive it is HK$26.50 per share (as of Oct 26, 2026), against a price of HK$51.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Jiangsu New Vision Automotive stock overvalued or undervalued in 2026?
As of Oct 26, 2026, 2632 trades above its calculated fair value: price HK$51.00, fair value HK$26.50, a gap of about −48% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2632?
No. The price is what the market pays today (HK$51.00); the fair value is what the company's own numbers justify (HK$26.50). For Jiangsu New Vision Automotive the two are HK$24.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangsu New Vision Automotive worth?
The market values Jiangsu New Vision Automotive at about HK$7.2B (market capitalisation, as of Oct 26, 2026). Per share that is HK$51.00; our models calculate a fair value of HK$26.50 per share.
What do the bullish and bearish scenarios say about 2632?
Our models span a range for Jiangsu New Vision Automotive: cautious scenario HK$19.52, base HK$26.50, optimistic HK$33.48 per share (as of Oct 26, 2026, price HK$51.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Jiangsu New Vision Automotive (2632)?
Balance-sheet figures for Jiangsu New Vision Automotive (as of Oct 26, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
Which stocks are comparable to Jiangsu New Vision Automotive?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Samsung Electro-Mechanics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Jiangsu New Vision Automotive stock attractive at the current price?
The data as of Oct 26, 2026: price HK$51.00, calculated fair value HK$26.50 (−48%), Quality Score 37/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2632 calculated?
We run Jiangsu New Vision Automotive through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$26.50, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.5 % above its aggregate fair value. Jiangsu New Vision Automotive itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Jiangsu New Vision Automotive (2632)?
The closing price on Oct 23, 2026 was HK$51.00. Our model-based fair value is HK$26.50, about −48% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jiangsu New Vision Automotive right now?
The price sits above even our optimistic bull case (HK$33.48). The favourable scenario is already priced in. Weak quality (37/100) 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.

Key figures of Jiangsu New Vision Automotive

How large is the market capitalisation of Jiangsu New Vision Automotive (2632)?
The market capitalisation of Jiangsu New Vision Automotive is HK$7.2B (≈ $912M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Jiangsu New Vision Automotive (2632)?
The price-to-sales ratio of Jiangsu New Vision Automotive is 10.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Jiangsu New Vision Automotive (2632)?
The net margin of Jiangsu New Vision Automotive is −101% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Jiangsu New Vision Automotive (2632)?
On an EBIT basis the return on assets of Jiangsu New Vision Automotive is −8.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Jiangsu New Vision Automotive (2632)?
The operating margin of Jiangsu New Vision Automotive is −15.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jiangsu New Vision Automotive (2632)?
Revenue at Jiangsu New Vision Automotive is growing +2.1% versus a year earlier (3y avg +46.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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