Jones Tech PLC Class A (300684) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Jones Tech PLC Class A ¥28.83, price ¥112, upside -74.2%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ¥9.47 – ¥111.76 · fair‑value band ¥13.76 – ¥35.77 · the ¥111.76 price screens above the ¥28.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Jones Tech PLC provides materials solutions for intelligent electronic equipment in China.
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Jones Tech PLC provides materials solutions for intelligent electronic equipment in China. The company offers thermal conductivity graphite products, such as artificial synthetic graphite, natural graphite, foldable graphite, single thick graphite thermal conductive film, and multi-layer composite graphite thermal conductive film, etc.; thermal interface materials, including thermally conductive pads, gels, greases, phase, change materials, thermal storage materials, and interface graphite products, etc.; adhesive products, comprising sealant, structural adhesive, conductive potting adhesive, conductive gap filling adhesive, and conductive structural adhesive, etc.; heat pipe products, including standard heat pipes, thin heat pipes, ultra-thin heat pipes, and thin heat pipes, etc.; vapor chamber products, such as conventional vapor chamber, thin vapor chamber, and 3D vapor chamber, air cooling module-server cooling module, laptop cooling module, and clean energy cooling module; thermal module products, including groups, other customized cooling modules, liquid cooling module-tubular liquid cooling plate, buried tube, type liquid cooling plate, and integrated liquid cooling plate, etc. Its products are used in consumer electronics, data center communications, servers, medical equipment and other industries. The company was founded in 1997 and is based in Beijing, China.
Stock analysis
Jones Tech PLC Class A (300684) currently trades at ¥111.76, while our model-based Fair Value estimate is ¥28.83, implying the stock looks roughly 287.6% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥36.57 per share, and 0 of the 24 models we run sit above the ¥111.76 price.
Bear case: the Asset-Based group reads lowest at ¥4.88, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥13.76 (bear) to ¥35.77 (bull), the price of ¥111.76 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 69/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Jones Tech PLC Class A reported revenue of 1.8B CNY in FY2025 versus 1.2B CNY in FY2021, a compound +10.1%/yr. Reported net income was 339M CNY in FY2025, compounding +26.6%/yr from FY2021.
Key figures
Market cap 33.5B CNY (≈ $5.0B) · P/E ratio 97.2 · P/S ratio 17.9 · EPS (TTM) ¥1.15 · Dividend yield 0.7% · Net margin 18.5% · Return on equity 15.6% · Return on assets (EBIT) 9.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 187% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −66% fair-value upside, at −74%, 300684 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥4.88 to ¥53.61). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥13.76Fair Value ¥28.83Bull ¥35.77
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.2999 per share) are deliberately not added.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 ⓘEvidence = 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.
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.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.1%
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.
+4.8%
Revenue growth 5 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.
+9.8%
Start year 2020 (pandemic). Over 10 years: +26.3% a year
Revenue growth 14 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.
+24.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+10.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.9%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18% vs 19%, steady
Profit margin 2020 to 2025 ⓘ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.19% → 21%
2025 sits 67% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+65.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +63.0% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 654 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−74% · Bottom 25%
Profitability
Return on equity (TTM)16% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)18% · Top 25%
Operating margin (TTM)19% · Top 25%
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)0.7% · Below median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (TTM)97.2× · Priciest 25%
P/B2.29× · Cheaper than median
P/S (TTM)2.67× · Pricier than median
P/FCF46.6× · Priciest 25%
EV/EBITDA10.2× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)58· sector 39
PAST (return on equity)62· sector 26
HEALTH (low debt)100· sector 95
DIVIDEND (yield)13· sector 25
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Jones Tech PLC Class A Fair Value". https://www.fairvalue-calculator.com/stock/300684
Frequently asked questions
Is Jones Tech PLC Class A (300684) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥28.83 versus a price of ¥111.76, about −74% upside (overvalued).
What is the fair value of 300684?
Our model-based fair value for Jones Tech PLC Class A is ¥28.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥111.76.
What is the quality score of 300684?
Jones Tech PLC Class A has a Quality Score of 69/100. 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 Jones Tech PLC Class A (300684)?
Our model-based price target is the fair value of ¥28.83 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ¥13.76, optimistic scenario ¥35.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Jones Tech PLC Class A stock forecast for 2026?
Our models put fair value at ¥28.83, about −74% upside versus a price of ¥111.76 (overvalued). Cautious scenario ¥13.76, optimistic scenario ¥35.77. The calculation is refreshed regularly with new filings.
What is the revenue of Jones Tech PLC Class A (300684)?
Jones Tech PLC Class A reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Sep 24, 2026).
Does Jones Tech PLC Class A pay a dividend?
Jones Tech PLC Class A currently shows a dividend yield of about 0.66% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Jones Tech PLC Class A (300684)?
For today's price to be fair in a discounted-cash-flow model, Jones Tech PLC Class A would have to grow free cash flow by +65.8 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 300684 use?
Our models discount Jones Tech PLC Class A at 9.8 %: a base by market capitalisation (mid), damped by beta 0.75, country premium for China. 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 Jones Tech PLC Class A that is +65.8 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Jones Tech PLC Class A (300684) delivered so far?
Over the past 5 years revenue at Jones Tech PLC Class A grew +9.8 % a year. The price currently implies +65.8 % 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 Jones Tech PLC Class A (300684) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Jones Tech PLC Class A (+65.8 % 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 Jones Tech PLC Class A (300684)?
The free-cash-flow yield on the price is 0.32 %: that much free cash flow Jones Tech PLC Class A produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jones Tech PLC Class A (300684)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jones Tech PLC Class A it is ¥28.83 per share (as of Sep 24, 2026), against a price of ¥111.76. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Jones Tech PLC Class A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300684 trades above its calculated fair value: price ¥111.76, fair value ¥28.83, a gap of about −74% (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 300684?
No. The price is what the market pays today (¥111.76); the fair value is what the company's own numbers justify (¥28.83). For Jones Tech PLC Class A the two are ¥82.93 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jones Tech PLC Class A worth?
The market values Jones Tech PLC Class A at about 33.5B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥111.76; our models calculate a fair value of ¥28.83 per share.
What do the bullish and bearish scenarios say about 300684?
Our models span a range for Jones Tech PLC Class A: cautious scenario ¥13.76, base ¥28.83, optimistic ¥35.77 per share (as of Sep 24, 2026, price ¥111.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300684?
Jones Tech PLC Class A trades at a price-to-earnings ratio of 97.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥28.83 is built from several models across several years. Other multiples: P/B 2.3, P/S 2.7, EV/EBITDA 10.2.
How solid is the balance sheet of Jones Tech PLC Class A (300684)?
Balance-sheet figures for Jones Tech PLC Class A (as of Sep 24, 2026): return on equity 15.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 300684 from its 52-week high?
Jones Tech PLC Class A trades at ¥111.76, at its 52-week high of ¥111.76 and 187% above the low of ¥38.92 (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of ¥28.83 is for.
Which stocks are comparable to Jones Tech PLC Class A?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry 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 Jones Tech PLC Class A stock attractive at the current price?
The data as of Sep 24, 2026: price ¥111.76, calculated fair value ¥28.83 (−74%), Quality Score 69/100, from 24 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 300684 calculated?
We run Jones Tech PLC Class A through 24 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 ¥28.83, 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 14.1 % above its aggregate fair value. Jones Tech PLC Class A 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 Jones Tech PLC Class A (300684)?
The closing price on Sep 22, 2026 was ¥111.76. Our model-based fair value is ¥28.83, about −74% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jones Tech PLC Class A right now?
The price sits above even our optimistic bull case (¥35.77). The favourable scenario is already priced in. Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥13.76 to ¥35.77) leaves room in how you read the outcome.
Where does the earnings growth of Jones Tech PLC Class A (300684) come from?
Earnings per share at Jones Tech PLC Class A grew +9.2 % a year from 2013 to 2024. Broken into its drivers: revenue per share +19.5 %, EBIT margin −8.3 %, tax rate +0.0 %, residual (interest, one-offs) −0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Jones Tech PLC Class A
How large is the market capitalisation of Jones Tech PLC Class A (300684)?
The market capitalisation of Jones Tech PLC Class A is 33.5B CNY (≈ $5.0B). 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 Jones Tech PLC Class A (300684)?
The price-to-sales ratio of Jones Tech PLC Class A is 17.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jones Tech PLC Class A (300684)?
Earnings per share at Jones Tech PLC Class A are ¥1.15 (price ÷ EPS = P/E 97.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jones Tech PLC Class A (300684)?
The dividend yield of Jones Tech PLC Class A is 0.7% (payout 64.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Jones Tech PLC Class A (300684)?
The net margin of Jones Tech PLC Class A is 18.5% (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 return on equity of Jones Tech PLC Class A (300684)?
The return on equity (ROE) of Jones Tech PLC Class A is 15.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Jones Tech PLC Class A (300684)?
On an EBIT basis the return on assets of Jones Tech PLC Class A is 9.1% (avg 5y). 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 Jones Tech PLC Class A (300684)?
The operating margin of Jones Tech PLC Class A is 19.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jones Tech PLC Class A (300684)?
Revenue at Jones Tech PLC Class A is growing +11.6% versus a year earlier (3y avg +4.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Jones Tech PLC Class A (300684)?
Earnings per share at Jones Tech PLC Class A are growing +5.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Jones Tech PLC Class A (300684) hold?
Jones Tech PLC Class A holds more cash than debt, 320M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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