Hangzhou Changchuan Technology Co (300604) Fair Value & Analysis
Technology · CN · Market cap 209B CNY
Fair value as of: Jul 13, 2026
From 25 valuation models · updated 25 days ago
Share price −8.5% over the past month.
A solid business, but screening 88% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥82.01). The favourable scenario is already priced in.
- The model range is unusually wide (¥17.97 to ¥82.01). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range ¥15.57 – ¥374.00 · fair‑value band ¥17.97 – ¥82.01 · the ¥278.53 price screens above the ¥33.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Hangzhou Changchuan Technology Co (300604) currently trades at ¥278.53, while our model-based Fair Value estimate is ¥33.33, implying the stock looks roughly 88.0% overvalued today. We read business quality at 65/100 (solid 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: medium).
Over the trailing twelve months, Hangzhou Changchuan Technology Co generated revenue of 5.9B CNY at a net margin of 26.9%. Revenue grew 69.1% year over year. It earns a return on equity of 33.4%. Net debt stands at 174M CNY. Fundamentals as of Jul 13, 2026
Our scenario range runs from ¥17.97 (bear case) to ¥82.01 (bull case); at ¥278.53, 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -88%, 300604 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 (¥94.65) versus Growth DCF (¥1.91). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 78
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
Hangzhou Changchuan Technology Co.,Ltd, together with its subsidiaries, researches and develops, produces, and sells integrated circuit equipment in China and internationally. It offers testing equipment for integrated circuit packaging and testing companies, wafer manufacturing companies, and chip design companies.
Full company description
Hangzhou Changchuan Technology Co.,Ltd, together with its subsidiaries, researches and develops, produces, and sells integrated circuit equipment in China and internationally. It offers testing equipment for integrated circuit packaging and testing companies, wafer manufacturing companies, and chip design companies. The company also provides handlers comprising tri-temp pick and place, ambient/high-temp pick and place, SLT tri-temp pick and place, SLT ambient/high-temp pick and place, gravity, and turret handlers; testers consisting of mixed signal, power, digital, and burn-in testers; probers, including ambient/high-temp and tri-temp probers; and AOI equipment, such as defect inspection and metrology equipment, and bare die test handlers. In addition, it offers solution consultation; after-sale services and support, including spare parts services, technical support, and software/hardware upgrades; application engineering development services, such as engineering and test interface hardware development; training; and online report services for maintenance. Further, the company engages in trading; research and development; and investment management activities. Its products are used in automotive electronics, mobile and consumer, server and fixed-line communication, medical care, cloud computing, and other industry applications. Hangzhou Changchuan Technology Co.,Ltd was founded in 2008 and is headquartered in Hangzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hangzhou Changchuan Technology Co reported revenue of ¥5.3B in FY2025 versus ¥1.5B in FY2021, a compound +36.8%/yr. Reported net income was ¥1.3B in FY2025, compounding +57.2%/yr from FY2021.
300604 screens 88% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 208 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.
Insider activity: 30/100
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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$15.57 | -69% |
| Applied Materials, Inc AMAT | $579.43 | $143.08 | -75% |
| Lam Research Corporation LRCX | $346.10 | $67.57 | -80% |
| KLA Corporation KLAC | $212.75 | $53.01 | -75% |
| NAURA Technology Group 002371 | ¥774.20 | ¥151.43 | -80% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥350.69 | ¥41.79 | -88% |
| Piotech Inc 688072 | ¥832.00 | ¥431.44 | -48% |
| Hon. Precision, Inc 7769 | 6,005 TWD | 1,804 TWD | -70% |
| MPI Corporation 6223 | 5,600 TWD | 609.44 TWD | -89% |
| HANMI Semiconductor Co 042700 | 222,000 KRW | 38,794 KRW | -83% |
Compare Hangzhou Changchuan Technology Co with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Frequently asked questions
Is Hangzhou Changchuan Technology Co (300604) overvalued or undervalued?
What is the fair value of 300604?
What is the quality score of 300604?
What is the revenue of Hangzhou Changchuan Technology Co (300604)?
What is the net profit margin of 300604?
Does Hangzhou Changchuan Technology Co pay a dividend?
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.
Track Hangzhou Changchuan Technology Co and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.