Hangzhou Silan Microelectronics Co Ltd (600460) fair value: what the stock is really worth
We calculate from audited financials what Hangzhou Silan Microelectronics Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
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HSHangzhou Silan Microelectronics Co Ltd600460 · SHG
Price¥30.27
Fair Value¥6.71
Upside−77.8%
Quality43/100
Below-average quality, and trading another 351% above our fair value of ¥6.71.
As of Aug 22, 2026, the fair value of Hangzhou Silan Microelectronics Co Ltd is ¥6.71 per share against a price of ¥30.27, so the fair value sits 78% below the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +25.0 %/yr)
!Thin margins · 3.4% net margin
!Low debt · negative free cash flow
·0.26% dividend yield
!Trails peers (2/13)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 6 out of 100
!Weak on dividend: 5 out of 100
Evidence: MediumRange ¥5.03 to ¥8.38
Fair value as of: Aug 22, 2026
From 17 valuation models · updated 19 days ago
Share price −5.9% over the past month.
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What matters now
The price sits above even our optimistic bull case (¥8.38). The favourable scenario is already priced in.
Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range ¥16.30 – ¥69.37 · fair‑value band ¥5.03 – ¥8.38 · the ¥30.27 price screens above the ¥6.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Hangzhou Silan Microelectronics Co Ltd (600460) currently trades at ¥30.27, while our model-based Fair Value estimate is ¥6.71, implying the stock looks roughly 351.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥6.93 per share, and 0 of the 17 models we run sit above the ¥30.27 price. Bear case: the DCF Models group reads lowest at ¥2.07, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Hangzhou Silan Microelectronics Co Ltd generated revenue of 13.6B CNY at a net margin of 3.4%. Revenue grew 17.3% year over year. It earns a return on equity of 1.5%. Net debt stands at 2.3B CNY. Fundamentals as of Aug 22, 2026
Scenario range: ¥5.03 (bear) to ¥8.38 (bull), the price of ¥30.27 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 23% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −63% fair-value upside, at −78%, 600460 screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥0.1386 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥2.07 to ¥22.68). Read the values as a conservative anchor, not as a price target.
ModelBear ⓘ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
Highest evidence
Residual Income best evidence¥5.29¥5.22¥4.5676
EPV¥3.56¥4.22¥4.8074
ROIC Compounder¥3.56¥4.22¥4.8072
All 17 models by family
DCF Models
Owner Earnings¥0.7500¥2.07¥4.6969
Earnings-Based
Graham-Dodd¥1.63¥10.26¥14.3463
Lynch FV¥2.96¥4.23¥5.5061
PEG = 1.0¥2.96¥4.23¥5.5057
EPV¥3.56¥4.22¥4.8074
Dividend Discount
Gordon GGM¥1.39¥2.89¥4.5866
DDM Multi-Stage¥1.39¥2.44¥3.0367
Multiples
P/E Multiple¥5.03¥6.71¥8.3863
P/S Multiple¥3.05¥4.07¥5.0958
P/B Multiple¥3.05¥4.07¥5.0955
EV/EBIT¥7.93¥10.71¥13.4966
EV/EBITDA¥16.91¥22.68¥28.4667
EV/Revenue¥3.80¥5.61¥7.4253
Asset-Based
NCAV (Graham)¥3.60¥4.82¥7.1954
Economic Profit
Residual Income best evidence¥5.29¥5.22¥4.5676
ROIC Compounder¥3.56¥4.22¥4.8072
Growth Earnings
Growth-Adj P/E¥4.85¥6.93¥9.0167
Widest divergence: Growth Earnings (¥6.93) versus DCF Models (¥2.07). Highest evidence: Residual Income (76).
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Key figures & financial health
P/E ratio108.1
P/S ratio3.30P/E × margin
EPS (TTM)¥0.2800price ÷ EPS = P/E 108.1
Dividend yield0.3%payout 28.6%
Net margin3.1%FY2025
Return on equity1.5%TTM
More key figures
Profitability
Return on assets (EBIT)4.4%avg 5y
Operating margin9.8%TTM
Growth
Revenue (TTM)13.6B CNYTTM
Revenue growth (YoY)+17.3%3y avg +16.4%
EPS growth (YoY)+44.4%
Balance sheet & cash flow
Free cash flow−134M CNYFY2025
Net debt2.3B CNYFY2025
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality43/100
Of which business quality 45
· Market factors (momentum, volatility) 33
Profitability24
Margins and returns on capital today
Quality Growth60
Are margins and returns improving?
Cashflow40
Earnings quality: real cash, not paper profit
Fin. Strength63
Balance sheet, leverage, solvency risk
Investment24
Disciplined investing over empire-building
Low Volatility36
Calm price path (market factor)
Momentum38
Price trend over the last 3–12 months (market factor)
52W Momentum22
Distance to the 52-week high (market factor)
Net Issuance61
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Hangzhou Silan Microelectronics Co., Ltd., together with its subsidiaries, engages in the research, design, development, production, and sale of electronic components in China.
Full company description
Hangzhou Silan Microelectronics Co., Ltd., together with its subsidiaries, engages in the research, design, development, production, and sale of electronic components in China. It offers discrete devices, including LVMOS, HVMOS, IGBT, SiC, and diode; IPM products; industrial and automobile IGBT modules; AC-DC and DC-DC converters; fast charging ICs; and LED lighting drivers, such as dimming and non-dimming LED lighting, LED headlight, and automotive low-voltage motor drivers, as well as smart power switches. The company also provides three-phase and singe half bridge drivers, as well as PFC IGBT gate driver; MEMS sensor comprising triaxial acceleration, six-axis inertial, proximity detection and digital ambient light, heart rate, and silicon microphone sensors; MCU IC products; and digital audio/video, which includes CD SERVO, audio decode, audio effects processing, intelligent audio. In addition, it offers ASIC products, such as bipolar PWM controller and DC-DC, LDO, logic and switch and level shift, comparator, reference IC, and linear regulator, as well as volume and sound control, DC drive, darlington, operational amplifier, and audio circuits; and GaN and GaAs LED chips. Further, the company is involved in information transmission; software and information technology services; wholesale and retail trade; leasing and business services; and scientific research and technical services. Its products are used in home appliances, industrial, LED lighting and chip, automotive, consumer, and audio-visual applications. The company was incorporated in 1997 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 Silan Microelectronics Co Ltd reported revenue of 13.1B CNY in FY2025 versus 7.2B CNY in FY2021, a compound +16.1%/yr. Reported net income was 399M CNY in FY2025, compounding −28.4%/yr from FY2021.
Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
13.1B CNY
Latest YoY
+16.3%
Avg. revenue growth/yr (3Y) ⓘ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.
+16.4%
Avg. revenue growth/yr (5Y) ⓘ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.
+25.0%
Avg. revenue growth/yr (25Y) ⓘ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.
+18.5%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−18.2%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−18.5%
Dividend yield0.3%
Trend ⓘ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.5Y 36.0% vs 10Y 11.6%, picking up
Operating margin (EBIT) ⓘ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.−0.8% (2020) → 5.9% (2025) · rising
Worst earnings drop102% (2023) (loss year, drop beyond 100%) · in CNY
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.
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.
This stockSector peers
VALUE0· sector 0
FUTURE87· sector 66
PAST6· sector 24
HEALTH76· sector 96
DIVIDEND5· sector 19
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
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Is Hangzhou Silan Microelectronics Co Ltd (600460) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of ¥6.71 versus a price of ¥30.27, about −78% upside (overvalued).
What is the fair value of 600460?
Our model-based fair value for Hangzhou Silan Microelectronics Co Ltd is ¥6.71 (as of Aug 22, 2026), built from audited fundamentals. The current price: ¥30.27.
What is the quality score of 600460?
Hangzhou Silan Microelectronics Co Ltd has a Quality Score of 43/100. 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 Hangzhou Silan Microelectronics Co Ltd (600460)?
Our model-based price target is the fair value of ¥6.71 (as of Aug 22, 2026) from 17 valuation models. Cautious scenario ¥5.03, optimistic scenario ¥8.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Hangzhou Silan Microelectronics Co Ltd stock forecast for 2026?
Our models put fair value at ¥6.71, about −78% upside versus a price of ¥30.27 (overvalued). Cautious scenario ¥5.03, optimistic scenario ¥8.38. The calculation is refreshed regularly with new filings.
What is the revenue of Hangzhou Silan Microelectronics Co Ltd (600460)?
Hangzhou Silan Microelectronics Co Ltd reported trailing-twelve-month revenue of about 13.6B CNY (latest available figure, as of Aug 22, 2026).
What is the net profit margin of 600460?
The net profit margin of Hangzhou Silan Microelectronics Co Ltd is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.
Does Hangzhou Silan Microelectronics Co Ltd pay a dividend?
Hangzhou Silan Microelectronics Co Ltd currently shows a dividend yield of about 0.26% relative to its recent price (as of Aug 22, 2026).
What is the intrinsic value of Hangzhou Silan Microelectronics Co Ltd (600460)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hangzhou Silan Microelectronics Co Ltd it is ¥6.71 per share (as of Aug 22, 2026), against a price of ¥30.27. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Hangzhou Silan Microelectronics Co Ltd stock overvalued or undervalued in 2026?
As of Aug 22, 2026, 600460 trades above its calculated fair value: price ¥30.27, fair value ¥6.71, a gap of about −78% (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 600460?
No. The price is what the market pays today (¥30.27); the fair value is what the company's own numbers justify (¥6.71). For Hangzhou Silan Microelectronics Co Ltd the two are ¥23.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hangzhou Silan Microelectronics Co Ltd worth?
The market values Hangzhou Silan Microelectronics Co Ltd at about 50.4B CNY (market capitalisation, as of Aug 22, 2026). Per share that is ¥30.27; our models calculate a fair value of ¥6.71 per share.
What do the bullish and bearish scenarios say about 600460?
Our models span a range for Hangzhou Silan Microelectronics Co Ltd: cautious scenario ¥5.03, base ¥6.71, optimistic ¥8.38 per share (as of Aug 22, 2026, price ¥30.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600460?
Hangzhou Silan Microelectronics Co Ltd trades at a price-to-earnings ratio of 108.1 (as of Aug 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥6.71 is built from several models across several years. Other multiples: P/B 4.5, P/S 4.0, EV/EBITDA 30.7.
How solid is the balance sheet of Hangzhou Silan Microelectronics Co Ltd (600460)?
Balance-sheet figures for Hangzhou Silan Microelectronics Co Ltd (as of Aug 22, 2026): return on equity 1.5%, debt of 0.48 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 600460 from its 52-week high?
Hangzhou Silan Microelectronics Co Ltd trades at ¥30.27, about 23% below its 52-week high of ¥39.14 and 30% above the low of ¥23.35 (as of Aug 22, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.71 is for.
Which stocks are comparable to Hangzhou Silan Microelectronics Co Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, 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 Hangzhou Silan Microelectronics Co Ltd stock attractive at the current price?
The data as of Aug 22, 2026: price ¥30.27, calculated fair value ¥6.71 (−78%), Quality Score 43/100, from 17 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 600460 calculated?
We run Hangzhou Silan Microelectronics Co Ltd through 17 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 ¥6.71, with the spread shown as a cautious and an optimistic scenario.
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