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Guangdong Dowstone Technology Co (300409) Fair Value & Analysis

Basic Materials · CN · Market cap 17.5B CNY

GD Guangdong Dowstone Technology Co 300409 · SHE
Price¥19.27
Fair Value¥9.36
Upside-51.4%
Quality48/100
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Healthy Growth
Thin margins · 6.6% net margin
Low debt · generates free cash flow
1.14% dividend yield
Trails peers (5/14)
Narrow moat 39/100
Evidence: High Range ¥7.03 – ¥11.70 Share as image

Fair value as of: Jul 9, 2026

From 24 valuation models · updated 32 days ago

Share price −2.1% over the past month.

Below-average quality, and screening another 51% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥11.70). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥34.54 ¥6.53 Fair Value ¥9.36 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥6.53 – ¥34.54 · fair‑value band ¥7.03 – ¥11.70 · the ¥19.27 price screens above the ¥9.36 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Guangdong Dowstone Technology Co (300409) currently trades at ¥19.27, while our model-based Fair Value estimate is ¥9.36, implying the stock looks roughly 51.4% overvalued today. The Quality Score stands at 48/100 (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: high).

Over the trailing twelve months, Guangdong Dowstone Technology Co generated revenue of 8.6B CNY at a net margin of 6.6%. Revenue grew 27.1% year over year. It earns a return on equity of 7.6%. Net debt stands at 1.7B CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥7.03 (bear case) to ¥11.70 (bull case); at ¥19.27, 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 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -51%, 300409 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥15.76 ¥29.40 ¥55.68 80
Residual Income ¥8.18 ¥8.49 ¥8.75 76
Rev-Margin DCF ¥12.35 ¥22.63 ¥38.08 74
All 24 models by family
DCF Models
FCF DCF ¥16.51 ¥26.57 ¥55.93 38
Owner Earnings ¥13.00 ¥27.96 ¥59.35 31
5Y Revenue Exit ¥12.35 ¥21.15 ¥38.29 39
5Y EBITDA Exit ¥13.53 ¥23.68 ¥42.26 41
5Y P/E Exit ¥11.39 ¥20.88 ¥32.92 38
10Y Revenue Exit ¥13.18 ¥24.77 ¥37.51 36
10Y EBITDA Exit ¥14.38 ¥27.03 ¥49.89 37
10Y P/E Exit ¥12.87 ¥22.93 ¥39.79 35
Earnings-Based
Graham-Dodd ¥4.41 ¥30.73 ¥43.12 54
Lynch FV ¥9.36 ¥13.37 ¥17.39 50
PEG = 1.0 ¥9.36 ¥13.37 ¥17.39 46
EPV ¥9.73 ¥11.14 ¥12.37 59
Multiples
P/E Multiple ¥8.26 ¥11.01 ¥13.77 63
P/S Multiple ¥8.26 ¥11.01 ¥13.77 58
P/B Multiple ¥8.26 ¥11.01 ¥13.77 55
EV/EBIT ¥11.63 ¥15.08 ¥18.53 53
EV/EBITDA ¥12.55 ¥16.31 ¥20.06 54
EV/Revenue ¥10.25 ¥14.10 ¥17.94 43
Asset-Based
NCAV (Graham) ¥5.15 ¥6.89 ¥10.29 50
Growth DCF
Growth DCF ¥15.76 ¥29.40 ¥55.68 80
Rev-Margin DCF ¥12.35 ¥22.63 ¥38.08 74
Economic Profit
Residual Income ¥8.18 ¥8.49 ¥8.75 76
ROIC Compounder ¥9.73 ¥12.39 ¥15.70 72
Growth Earnings
Growth-Adj P/E ¥11.66 ¥16.66 ¥21.65 68

Widest divergence: DCF Models (¥23.68) versus Asset-Based (¥6.89). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 8.6B CNY
Revenue growth (YoY) +27.1%
Net margin 6.6%
Return on equity 7.6%
Free cash flow 747M CNY FY2025
P/E ratio 29.9
More key figures
Operating margin 9.1%
EPS (TTM) ¥0.7500
Dividend yield 1.1%
EPS growth (YoY) +117%
Net debt 1.7B CNY FY2025

Figures from reported company fundamentals · as of Jul 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 35

Profitability 33
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 0
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

Guangdong Dowstone Technology Co., Ltd. produces and sells lithium batteries, carbon, and ceramic materials in China and internationally.

Full company description

Guangdong Dowstone Technology Co., Ltd. produces and sells lithium batteries, carbon, and ceramic materials in China and internationally. The company offers solid state battery materials, such as silicon-carbon anode, single walled carbon nanotube powder/slurry, and solid-state electrolyte; AI intelligent computing products; carbon materials, including single walled carbon, Oligowalled carbon, and multi-walled nanotube powder and conductive pastes, as well as silicon carbon negative electrode; lithium battery materials, such as triple precursor body and cobalt salts; and ceramic materials. Guangdong Dowstone Technology Co., Ltd. was founded in 2007 and is based in Enping, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Guangdong Dowstone Technology Co reported revenue of ¥8.2B in FY2025 versus ¥6.6B in FY2021, a compound +5.6%/yr. Reported net income was ¥507M in FY2025, compounding −2.5%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
8.2B CNY
Latest YoY
+5.2%
Avg. growth/yr (3Y)
+5.9%
Avg. growth/yr (5Y)
+19.7%
Avg. growth/yr (14Y)
+31.0%
Revenue +5.6%/yr
FY21 ¥6.6B
FY22 ¥6.9B
FY23 ¥7.3B
FY24 ¥7.8B
FY25 ¥8.2B
Net income −2.5%/yr
FY21 ¥562M
FY22 ¥86.2M
FY23 −¥27.9M
FY24 ¥157M
FY25 ¥507M

300409 screens 51% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Guangdong Dowstone Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/300409

Peer Group

Specialty Chemicals · 676 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 48 · Below median
Fair Value upside −51% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 27% · Top 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 29.9× · Pricier than median
P/B 2.18× · Pricier than median
P/S (TTM) 2.03× · Pricier than median
P/FCF 3.5× · Pricier than median
EV/EBITDA 13.1× · 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 100 · sector 19
PAST 30 · sector 23
HEALTH 92 · sector 95
DIVIDEND 23 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Guangdong Dowstone Technology Co (300409) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥9.36 versus a price of ¥19.27, about −51% (overvalued).
What is the fair value of 300409?
Our model-based fair value for Guangdong Dowstone Technology Co is ¥9.36 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥19.27.
What is the quality score of 300409?
Guangdong Dowstone Technology Co has a Quality Score of 48/100. 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 Guangdong Dowstone Technology Co (300409)?
Guangdong Dowstone Technology Co reported trailing-twelve-month revenue of about 8.6B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300409?
The net profit margin of Guangdong Dowstone Technology Co is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Guangdong Dowstone Technology Co pay a dividend?
Guangdong Dowstone Technology Co currently shows a dividend yield of about 1.14% relative to its recent price (as of Jul 9, 2026).

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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