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Shanghai XFH Technology Co (300890) Fair Value & Analysis

Basic Materials · CN · Market cap 4.2B CNY

SX Shanghai XFH Technology Co 300890 · SHE
Price¥26.45
Fair Value¥12.61
Upside-52.3%
Quality27/100
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Expensive Growth
Thin margins · 4.5% net margin
Moderate debt · negative free cash flow
0.29% dividend yield
Trails peers (3/13)
Narrow moat 35/100
Evidence: Medium Range ¥9.41 – ¥12.61 Share as image

Fair value as of: Jul 9, 2026

From 14 valuation models · updated 32 days ago

Share price −13.3% over the past month.

Below-average quality, and screening another 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥12.61). The favourable scenario is already priced in.
  • Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥84.31 ¥18.83 Fair Value ¥12.61 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 ¥18.83 – ¥84.31 · fair‑value band ¥9.41 – ¥12.61 · the ¥26.45 price screens above the ¥12.61 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Shanghai XFH Technology Co (300890) currently trades at ¥26.45, while our model-based Fair Value estimate is ¥12.61, implying the stock looks roughly 52.3% overvalued today. The Quality Score stands at 27/100 (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, Shanghai XFH Technology Co generated revenue of 1.9B CNY at a net margin of 4.5%. Revenue grew 75.3% year over year. It earns a return on equity of 3.6%. Net debt stands at 1.7B CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥9.41 (bear case) to ¥12.61 (bull case); at ¥26.45, 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -52%, 300890 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
Residual Income ¥13.19 ¥12.54 ¥9.95 76
ROIC Compounder ¥1.28 ¥2.45 72
Growth-Adj P/E ¥9.65 ¥13.79 ¥17.93 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥3.08 ¥21.48 ¥30.15 54
Lynch FV ¥8.18 ¥11.69 ¥15.20 50
PEG = 1.0 ¥8.18 ¥11.69 ¥15.20 46
EPV ¥1.28 ¥2.45 59
Multiples
P/E Multiple ¥5.78 ¥7.70 ¥9.63 63
P/S Multiple ¥5.78 ¥7.70 ¥9.63 58
P/B Multiple ¥5.78 ¥7.70 ¥9.63 55
EV/EBIT ¥2.35 ¥6.01 ¥9.66 53
EV/EBITDA ¥8.91 ¥14.75 ¥20.59 54
EV/Revenue ¥0.8900 ¥4.96 ¥9.04 43
Asset-Based
NCAV (Graham) ¥9.41 ¥12.61 ¥18.83 50
Economic Profit
Residual Income ¥13.19 ¥12.54 ¥9.95 76
ROIC Compounder ¥1.28 ¥2.45 72
Growth Earnings
Growth-Adj P/E ¥9.65 ¥13.79 ¥17.93 68

Widest divergence: Growth Earnings (¥13.79) versus Economic Profit (¥1.28). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.9B CNY
Revenue growth (YoY) +75.3%
Net margin 4.5%
Return on equity 3.6%
Free cash flow −720M CNY FY2025
P/E ratio 48.9
More key figures
Operating margin 7.2%
EPS (TTM) ¥0.7200
Dividend yield 0.3%
EPS growth (YoY) +19.6%
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 27/100

Of which business quality 26 · Market factors (momentum, volatility) 35

Profitability 19
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 28
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

Shanghai XFH Technology Co., Ltd engages in the research and development, production, and sale of lithium battery anode materials in China. The company offers natural graphite, artificial graphite, silicon-carbon anode materials, and silicon-oxygen anode materials.

Full company description

Shanghai XFH Technology Co., Ltd engages in the research and development, production, and sale of lithium battery anode materials in China. The company offers natural graphite, artificial graphite, silicon-carbon anode materials, and silicon-oxygen anode materials. It also provides titanium-based non-graphite anode materials; and new energy materials, such as graphene and carbon fiber. The company was formerly known as Shenzhen XFH Technology Co.,Ltd and changed its name to Shanghai XFH Technology Co., Ltd in April 2024. Shanghai XFH Technology Co., Ltd was incorporated in 2009 and is based in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai XFH Technology Co reported revenue of ¥1.7B in FY2025 versus ¥1.1B in FY2021, a compound +10.6%/yr. Reported net income was ¥54.2M in FY2025, compounding −14.2%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7B CNY
Latest YoY
+20.7%
Avg. growth/yr (3Y)
−10.8%
Avg. growth/yr (5Y)
+32.1%
Avg. growth/yr (11Y)
+32.3%
Revenue +10.6%/yr
FY21 ¥1.1B
FY22 ¥2.4B
FY23 ¥1.7B
FY24 ¥1.4B
FY25 ¥1.7B
Net income −14.2%/yr
FY21 ¥99.8M
FY22 ¥161M
FY23 ¥82.9M
FY24 ¥49.6M
FY25 ¥54.2M

300890 screens 52% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Shanghai XFH Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/300890

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 27 · Bottom 25%
Fair Value upside −52% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 75% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.60× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 48.9× · Pricier than 75% of peers
P/B 1.87× · Pricier than median
P/S (TTM) 2.21× · Pricier than median
EV/EBITDA 19.5× · 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 100 · sector 19
PAST 14 · sector 23
HEALTH 70 · sector 95
DIVIDEND 6 · 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.

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PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
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Frequently asked questions

Is Shanghai XFH Technology Co (300890) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥12.61 versus a price of ¥26.45, about −52% (overvalued).
What is the fair value of 300890?
Our model-based fair value for Shanghai XFH Technology Co is ¥12.61 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥26.45.
What is the quality score of 300890?
Shanghai XFH Technology Co has a Quality Score of 27/100. 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 Shanghai XFH Technology Co (300890)?
Shanghai XFH Technology Co reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300890?
The net profit margin of Shanghai XFH Technology Co is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does Shanghai XFH Technology Co pay a dividend?
Shanghai XFH Technology Co currently shows a dividend yield of about 0.29% 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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