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Fujian Furi Electronics Co (600203) Fair Value & Analysis

Technology · CN · Market cap 6.2B CNY

FF Fujian Furi Electronics Co 600203 · SHG
Price¥10.40
Fair Value¥10.91
Upside+4.9%
Quality56/100
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Weak Growth
Thin margins · 0.2% net margin
Low debt · generates free cash flow
Trails peers (5/14)
Narrow moat 30/100
Evidence: High Range ¥7.61 – ¥14.21 Share as image

Fair value as of: Aug 7, 2026

From 15 valuation models · updated 3 days ago

Share price −18.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (¥7.61 to ¥14.21) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥19.07 ¥3.70 Fair Value ¥10.91 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ¥3.70 – ¥19.07 · fair‑value band ¥7.61 – ¥14.21 · the ¥10.40 price screens below the ¥10.91 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Fujian Furi Electronics Co (600203) currently trades at ¥10.40, while our model-based Fair Value estimate is ¥10.91, implying the stock looks roughly 4.9% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Fujian Furi Electronics Co generated revenue of 15.8B CNY at a net margin of 0.2%. Revenue grew 97.3% year over year. It earns a return on equity of 2.9%. Net debt stands at 1.4B CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥7.61 (bear case) to ¥14.21 (bull case); at ¥10.40, the current price sits within 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 45% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 5%, 600203 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 ¥6.00 ¥9.38 ¥14.99 80
Rev-Margin DCF ¥7.83 ¥13.27 ¥20.55 74
ROIC Compounder ¥8.51 ¥10.23 ¥12.17 72
All 15 models by family
DCF Models
FCF DCF ¥6.08 ¥9.92 ¥16.65 38
5Y Revenue Exit ¥7.83 ¥13.51 ¥21.51 39
5Y EBITDA Exit ¥10.26 ¥18.68 ¥29.66 41
10Y Revenue Exit ¥6.95 ¥12.13 ¥20.61 36
10Y EBITDA Exit ¥8.79 ¥15.90 ¥27.50 37
Earnings-Based
EPV ¥7.97 ¥8.97 ¥9.84 59
Dividend Discount
Gordon GGM ¥1.42 ¥2.83 ¥4.29 70
DDM Multi-Stage ¥1.42 ¥2.45 ¥2.99 61
Multiples
EV/EBIT ¥11.52 ¥14.81 ¥18.11 53
EV/EBITDA ¥13.05 ¥16.85 ¥20.66 54
EV/Revenue ¥8.68 ¥11.71 ¥14.74 43
Asset-Based
NCAV (Graham) ¥1.35 ¥1.81 ¥2.70 50
Growth DCF
Growth DCF ¥6.00 ¥9.38 ¥14.99 80
Rev-Margin DCF ¥7.83 ¥13.27 ¥20.55 74
Economic Profit
ROIC Compounder ¥8.51 ¥10.23 ¥12.17 72

Widest divergence: Multiples (¥14.81) versus Asset-Based (¥1.81). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 15.8B CNY
Revenue growth (YoY) +97.3%
Net margin 0.2%
Return on equity 2.9%
Free cash flow 207M CNY FY2025
P/E ratio 148.6
More key figures
Operating margin 2.4%
EPS (TTM) ¥0.0700
EPS growth (YoY) -51.0%
Net debt 1.4B CNY FY2025

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 51 · Market factors (momentum, volatility) 39

Profitability 31
Margins and returns on capital today
Quality Growth 83
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 82
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

Fujian Furi Electronics Co.,Ltd engages in the research, development, production, and sale of smart terminal and LED optoelectronic products in China.

Full company description

Fujian Furi Electronics Co.,Ltd engages in the research, development, production, and sale of smart terminal and LED optoelectronic products in China. The company provides smartphones to electronic brands and technology companies; and product services, including product solution design, product development, manufacturing, and delivery of mobile phones and other smart terminals, as well as ODM/JDM/OEM activities for smartphones, tablets, AIoT devices, audiovisual equipment, hotel robots, robotic vacuum cleaners, smartwatches, and automotive electronics. It also engages in LED packaging, lighting, display, and LED engineering project design, investment, and operation activities; and engages in trading business. In addition, the company offers LED packaging, lighting, engineering, and display products; renewable energy utilization, and industrial energy-saving solutions; smart communication; and smart appliances, as well as engages in the supply chain. Fujian Furi Electronics Co.,Ltd was incorporated in 1999 and is headquartered in Fuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fujian Furi Electronics Co reported revenue of ¥13.9B in FY2025 versus ¥18.6B in FY2021, a compound −7.1%/yr. Reported net income was −¥48.5M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
13.9B CNY
Latest YoY
+30.5%
Avg. growth/yr (3Y)
−5.7%
Avg. growth/yr (5Y)
+1.3%
Avg. growth/yr (29Y)
+7.6%
Revenue −7.1%/yr
FY21 ¥18.6B
FY22 ¥16.6B
FY23 ¥10.6B
FY24 ¥10.6B
FY25 ¥13.9B
Net income
FY21 −¥234M
FY22 −¥314M
FY23 −¥286M
FY24 −¥384M
FY25 −¥48.5M

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Cite: Fair Value Calculator (2026). "Fujian Furi Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/600203

Peer Group

Electronic Components · 626 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 56 · Above median
Fair Value upside +5% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 97% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.25× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 148.6× · Pricier than 75% of peers
P/B 3.85× · Pricier than median
P/S (TTM) 0.39× · Cheaper than 75% of peers
P/FCF 4.4× · Pricier than median
EV/EBITDA 15.2× · 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 40 · sector 0
FUTURE 100 · sector 32
PAST 12 · sector 24
HEALTH 87 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Fujian Furi Electronics Co (600203) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥10.91 versus a price of ¥10.40, about +5% (fairly valued).
What is the fair value of 600203?
Our model-based fair value for Fujian Furi Electronics Co is ¥10.91 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥10.40.
What is the quality score of 600203?
Fujian Furi Electronics Co has a Quality Score of 56/100. 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 Fujian Furi Electronics Co (600203)?
Fujian Furi Electronics Co reported trailing-twelve-month revenue of about 15.8B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600203?
The net profit margin of Fujian Furi Electronics Co is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. Based on the latest reported figures.

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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