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Focus Lightings Tech Co (300708) Fair Value & Analysis

Technology · CN · Market cap 7.8B CNY

FL Focus Lightings Tech Co 300708 · SHE
Price¥7.73
Fair Value¥3.71
Upside-52.0%
Quality55/100
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Expensive Growth
Thin margins · 6.2% net margin
Low debt · generates free cash flow
0.36% dividend yield
Mixed vs. peers (6/14)
Narrow moat 36/100
Evidence: High Range ¥2.78 – ¥4.64 Share as image

Fair value as of: Jul 9, 2026

From 25 valuation models · updated 32 days ago

Fair value updated Jul 9, 2026, revised from ¥4.59 to ¥3.71 (−19.2%) since Jun 24, 2026. Share price −6.5% over the past month.

A solid business, but screening 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥4.64). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥14.97 ¥5.26 Fair Value ¥3.71 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 ¥5.26 – ¥14.97 · fair‑value band ¥2.78 – ¥4.64 · the ¥7.73 price screens above the ¥3.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Focus Lightings Tech Co (300708) currently trades at ¥7.73, while our model-based Fair Value estimate is ¥3.71, implying the stock looks roughly 52.0% overvalued today. The Quality Score stands at 55/100 (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: high).

Over the trailing twelve months, Focus Lightings Tech Co generated revenue of 2.8B CNY at a net margin of 6.2%. Revenue declined 42.7% year over year. It earns a return on equity of 6.2%. Net debt stands at 333M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥2.78 (bear case) to ¥4.64 (bull case); at ¥7.73, 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 38% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -52%, 300708 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 ¥2.13 ¥2.71 ¥3.86 80
Residual Income ¥2.45 ¥2.58 ¥2.74 76
Rev-Margin DCF ¥3.05 ¥5.07 ¥8.44 74
All 25 models by family
DCF Models
FCF DCF ¥2.18 ¥2.60 ¥3.91 38
5Y Revenue Exit ¥3.05 ¥4.62 ¥7.85 39
5Y EBITDA Exit ¥4.61 ¥7.82 ¥14.02 41
5Y P/E Exit ¥4.11 ¥7.97 ¥13.24 38
10Y Revenue Exit ¥2.72 ¥4.88 ¥6.73 36
10Y EBITDA Exit ¥3.90 ¥8.04 ¥16.09 37
10Y P/E Exit ¥3.55 ¥7.03 ¥13.35 35
Earnings-Based
Graham-Dodd ¥1.48 ¥10.35 ¥14.53 54
Lynch FV ¥3.62 ¥5.17 ¥6.72 50
PEG = 1.0 ¥3.62 ¥5.17 ¥6.72 46
EPV ¥3.05 ¥3.31 ¥3.53 59
Dividend Discount
Gordon GGM ¥0.9600 ¥1.92 ¥2.91 70
DDM Multi-Stage ¥0.9600 ¥1.66 ¥2.03 61
Multiples
P/E Multiple ¥3.44 ¥4.59 ¥5.73 63
P/S Multiple ¥2.78 ¥3.71 ¥4.64 58
P/B Multiple ¥2.78 ¥3.71 ¥4.64 55
EV/EBIT ¥3.99 ¥4.85 ¥5.71 53
EV/EBITDA ¥5.52 ¥6.90 ¥8.27 54
EV/Revenue ¥3.25 ¥4.04 ¥4.83 43
Asset-Based
NCAV (Graham) ¥1.52 ¥2.04 ¥3.05 50
Growth DCF
Growth DCF ¥2.13 ¥2.71 ¥3.86 80
Rev-Margin DCF ¥3.05 ¥5.07 ¥8.44 74
Economic Profit
Residual Income ¥2.45 ¥2.58 ¥2.74 76
ROIC Compounder ¥3.05 ¥3.69 ¥4.28 72
Growth Earnings
Growth-Adj P/E ¥4.72 ¥6.74 ¥8.76 68

Widest divergence: DCF Models (¥7.03) versus Dividend Discount (¥1.66). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.8B CNY
Revenue growth (YoY) -42.7%
Net margin 6.2%
Return on equity 6.2%
Free cash flow 46.0M CNY FY2025
P/E ratio 38.0
More key figures
Operating margin 4.8%
EPS (TTM) ¥0.2200
Dividend yield 0.4%
EPS growth (YoY) -66.7%
Net debt 333M CNY FY2025

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 58 · Market factors (momentum, volatility) 34

Profitability 33
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 20
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 99
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

Focus Lightings Tech Co., Ltd. engages in the research and development, production, and sale of compound optoelectronic semiconductor materials in China and internationally. It offers LED epitaxial wafers and chips used for display backlighting, general lighting, and medical aesthetics.

Full company description

Focus Lightings Tech Co., Ltd. engages in the research and development, production, and sale of compound optoelectronic semiconductor materials in China and internationally. It offers LED epitaxial wafers and chips used for display backlighting, general lighting, and medical aesthetics. The company also provides lighting, display, optoelectronic devices, LED patterned substrates, and ammonia solutions. In addition, it is involved in providing technical consultation of contract energy management and environmental protection projects; and manufacturing of power electronic components and semiconductor lighting devices. The company was formerly known as Jucan Optoelectronics Technology (Suzhou) Co., Ltd. Focus Lightings Tech Co., Ltd. was founded in 2010 and is headquartered in Suzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Focus Lightings Tech Co reported revenue of ¥3.1B in FY2025 versus ¥2.0B in FY2021, a compound +11.7%/yr. Reported net income was ¥205M in FY2025, compounding +3.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.1B CNY
Latest YoY
+13.3%
Avg. growth/yr (3Y)
+15.5%
Avg. growth/yr (5Y)
+17.3%
Avg. growth/yr (13Y)
+27.7%
Revenue +11.7%/yr
FY21 ¥2.0B
FY22 ¥2.0B
FY23 ¥2.5B
FY24 ¥2.8B
FY25 ¥3.1B
Net income +3.7%/yr
FY21 ¥177M
FY22 −¥63.3M
FY23 ¥121M
FY24 ¥196M
FY25 ¥205M

300708 screens 52% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Focus Lightings Tech Co Fair Value". https://www.fairvalue-calculator.com/stock/300708

Peer Group

Semiconductors · 319 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 55 · Below median
Fair Value upside −52% · Below median
Return on equity (TTM) 6% · Above median
Return on assets 2% · Below median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -43% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 38.0× · Cheaper than median
P/B 2.74× · Cheaper than median
P/S (TTM) 2.79× · Cheaper than median
P/FCF 25.3× · Pricier than 75% of peers
EV/EBITDA 17.9× · Cheaper 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 0 · sector 60
PAST 25 · sector 24
HEALTH 100 · sector 97
DIVIDEND 7 · sector 22

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

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Focus Lightings Tech Co (300708) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥3.71 versus a price of ¥7.73, about −52% (overvalued).
What is the fair value of 300708?
Our model-based fair value for Focus Lightings Tech Co is ¥3.71 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥7.73.
What is the quality score of 300708?
Focus Lightings Tech Co has a Quality Score of 55/100. 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 Focus Lightings Tech Co (300708)?
Focus Lightings Tech Co reported trailing-twelve-month revenue of about 2.8B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300708?
The net profit margin of Focus Lightings Tech Co is about 6.2%, meaning it keeps roughly 6.2% of revenue as net income. Based on the latest reported figures.
Does Focus Lightings Tech Co pay a dividend?
Focus Lightings Tech Co currently shows a dividend yield of about 0.36% 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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