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Changzhou Tiansheng New Materials Group (300169) Fair Value & Analysis

Basic Materials · CN · Market cap 1.8B CNY

CT Changzhou Tiansheng New Materials Group 300169 · SHE
Price¥5.76
Fair Value¥0.6500
Upside-88.7%
Quality47/100
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Weak Growth
Thin margins · 2.9% net margin
Moderate debt · negative free cash flow
Trails peers (3/12)
Narrow moat 40/100
Evidence: Medium Range ¥0.4900 – ¥0.8200 Share as image

Fair value as of: Jul 7, 2026

From 11 valuation models · updated 34 days ago

Share price +22.3% over the past month.

Below-average quality, and screening another 89% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥0.8200). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥11.54 ¥3.71 Fair Value ¥0.6500 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

60‑month range ¥3.71 – ¥11.54 · fair‑value band ¥0.4900 – ¥0.8200 · the ¥5.76 price screens above the ¥0.6500 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Changzhou Tiansheng New Materials Group (300169) currently trades at ¥5.76, while our model-based Fair Value estimate is ¥0.6500, implying the stock looks roughly 88.7% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Basic Materials 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: medium).

Over the trailing twelve months, Changzhou Tiansheng New Materials Group generated revenue of 448M CNY at a net margin of 2.9%. Revenue grew 2.9% year over year. It earns a return on equity of 21.0%. Net debt stands at 199M CNY. Fundamentals as of Jul 7, 2026

Our scenario range runs from ¥0.4900 (bear case) to ¥0.8200 (bull case); at ¥5.76, 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 51% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -89%, 300169 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.

Model 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. Evidence
Highest evidence
Residual Income ¥0.2100 ¥0.2600 ¥0.5000 76
Gordon GGM ¥0.6100 ¥0.6600 ¥0.7300 70
Growth-Adj P/E ¥0.3500 ¥0.5000 ¥0.6500 68
All 11 models by family
DCF Models
Owner Earnings ¥0.6900 ¥0.8500 ¥1.12 31
Earnings-Based
Graham-Dodd ¥0.2600 ¥0.3200 ¥0.3600 54
Dividend Discount
Gordon GGM ¥0.6100 ¥0.6600 ¥0.7300 70
DDM Multi-Stage ¥0.6100 ¥0.7300 ¥0.8800 61
Multiples
P/E Multiple ¥0.4900 ¥0.6500 ¥0.8200 63
P/S Multiple ¥0.4900 ¥0.6500 ¥0.8200 58
P/B Multiple ¥0.4300 ¥0.5700 ¥0.7200 55
EV/EBITDA ¥0.5700 ¥0.7100 ¥0.8500 54
Asset-Based
NCAV (Graham) ¥0.1000 ¥0.1300 ¥0.1900 50
Economic Profit
Residual Income ¥0.2100 ¥0.2600 ¥0.5000 76
Growth Earnings
Growth-Adj P/E ¥0.3500 ¥0.5000 ¥0.6500 68

Widest divergence: DCF Models (¥0.8500) versus Asset-Based (¥0.1300). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 448M CNY
Revenue growth (YoY) +2.9%
Net margin 2.9%
Return on equity 21.0%
Free cash flow −47.1M CNY FY2025
P/E ratio 54.4
More key figures
Operating margin 8.1%
EPS (TTM) ¥0.1000
EPS growth (YoY) -98.5%
Net debt 199M CNY FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 40 · Market factors (momentum, volatility) 27

Profitability 38
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

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

Changzhou Tiansheng New Materials Group Co., Ltd., together with its subsidiaries, engages in the research and development, production, and sale of polymer foam materials in China.

Full company description

Changzhou Tiansheng New Materials Group Co., Ltd., together with its subsidiaries, engages in the research and development, production, and sale of polymer foam materials in China. The company offers structural foam materials primarily for use in wind power generation, railway transportation, yacht, aerospace, energy buildings conservation, and other industries; and soft foam materials, such as plastic and rubber material for use in various industries, including electronics, home appliances, automobiles, and sports and leisure industries. It also provides functional tape materials. The company exports its products. Changzhou Tiansheng New Materials Group Co., Ltd. was formerly known as Changzhou Tiansheng New Materials Co., Ltd. and changed its name to Changzhou Tiansheng New Materials Group Co., Ltd. in July 2023. Changzhou Tiansheng New Materials Group Co., Ltd. was founded in 1998 and is based in Changzhou, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Changzhou Tiansheng New Materials Group reported revenue of ¥448M in FY2025 versus ¥761M in FY2021, a compound −12.4%/yr. Reported net income was ¥13.1M in FY2025.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
448M CNY
Latest YoY
−15.6%
Avg. growth/yr (3Y) 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.
−8.5%
Avg. growth/yr (5Y) 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.
−12.9%
Avg. growth/yr (18Y) 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.
+4.6%
Revenue −12.4%/yr
FY21 ¥761M
FY22 ¥585M
FY23 ¥574M
FY24 ¥531M
FY25 ¥448M
Net income
FY21 −¥164M
FY22 −¥188M
FY23 −¥160M
FY24 −¥58.7M
FY25 ¥13.1M

300169 screens 89% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Changzhou Tiansheng New Materials Group Fair Value". https://www.fairvalue-calculator.com/stock/300169

Peer Group

Chemicals · 333 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.

Quality Score 47 · Below median
Fair Value upside −89% · Bottom 25%
Return on equity (TTM) 21% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 8% · Above median
Revenue growth 3% · Below median
Debt / equity 0.56× · Higher than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 54.4× · Pricier than 75% of peers
P/B 4.22× · Pricier than 75% of peers
P/S (TTM) 0.61× · Cheaper than median
EV/EBITDA 15.5× · Pricier than median

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 · sector 0
FUTURE 15 · sector 20
PAST 84 · sector 19
HEALTH 72 · sector 94
DIVIDEND 0 · sector 27

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Changzhou Tiansheng New Materials Group (300169) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of ¥0.6500 versus a price of ¥5.76, about −89% (overvalued).
What is the fair value of 300169?
Our model-based fair value for Changzhou Tiansheng New Materials Group is ¥0.6500 (as of Jul 7, 2026), built from audited fundamentals. The current price is ¥5.76.
What is the quality score of 300169?
Changzhou Tiansheng New Materials Group has a Quality Score of 47/100. 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 revenue of Changzhou Tiansheng New Materials Group (300169)?
Changzhou Tiansheng New Materials Group reported trailing-twelve-month revenue of about 448M CNY (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 300169?
The net profit margin of Changzhou Tiansheng New Materials Group is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.

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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