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Founder Technology Group (600601) Fair Value & Analysis

Technology · CN · Market cap 55.0B CNY

FT Founder Technology Group 600601 · SHG
Price¥12.58
Fair Value¥2.77
Upside-78.0%
Quality49/100
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Weak Growth
Solidly profitable · 11.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Moderate moat 52/100
Evidence: Medium Range ¥1.94 – ¥3.60 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated today

Fair value updated Aug 13, 2026, revised from ¥2.05 to ¥2.77 (+35.1%) since Aug 8, 2026. Share price −0.4% over the past month.

Below-average quality, and screening another 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥3.60). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥1.94 to ¥3.60) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥15.12 ¥2.01 Fair Value ¥2.77 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥2.01 – ¥15.12 · fair‑value band ¥1.94 – ¥3.60 · the ¥12.58 price screens above the ¥2.77 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Founder Technology Group (600601) currently trades at ¥12.58, while our model-based Fair Value estimate is ¥2.77, implying the stock looks roughly 78.0% overvalued today. The Quality Score stands at 49/100 (below-average 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: medium).

Over the trailing twelve months, Founder Technology Group generated revenue of 5.6B CNY at a net margin of 11.3%. Revenue grew 64.3% year over year. It earns a return on equity of 13.8%. Net debt stands at 364M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥1.94 (bear case) to ¥3.60 (bull case); at ¥12.58, 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 14% below its 52-week high and 175% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -78%, 600601 screens richer 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 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
Highest evidence
Residual Income ¥0.9600 ¥1.07 ¥1.74 76
ROIC Compounder ¥1.09 ¥1.41 ¥1.84 72
Growth-Adj P/E ¥1.94 ¥2.77 ¥3.60 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥0.7500 ¥2.62 ¥3.52 54
Lynch FV ¥0.6100 ¥0.8700 ¥1.13 50
PEG = 1.0 ¥0.6100 ¥0.8700 ¥1.13 46
EPV ¥1.09 ¥1.28 ¥1.44 59
Multiples
P/E Multiple ¥2.32 ¥3.09 ¥3.87 63
P/S Multiple ¥1.41 ¥1.88 ¥2.35 58
P/B Multiple ¥1.41 ¥1.88 ¥2.35 55
EV/EBIT ¥2.34 ¥3.14 ¥3.94 53
EV/EBITDA ¥2.62 ¥3.51 ¥4.41 54
EV/Revenue ¥1.16 ¥1.68 ¥2.20 43
Asset-Based
NCAV (Graham) ¥0.5400 ¥0.7200 ¥1.08 50
Economic Profit
Residual Income ¥0.9600 ¥1.07 ¥1.74 76
ROIC Compounder ¥1.09 ¥1.41 ¥1.84 72
Growth Earnings
Growth-Adj P/E ¥1.94 ¥2.77 ¥3.60 68

Widest divergence: Growth Earnings (¥2.77) versus Asset-Based (¥0.7200). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 5.6B CNY
Revenue growth (YoY) +64.3%
Net margin 11.3%
Return on equity 13.8%
Free cash flow −1.1B CNY FY2025
P/E ratio 89.9
More key figures
Operating margin 17.5%
EPS (TTM) ¥0.1400
EPS growth (YoY) +150%
Net debt 364M CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 61

Profitability 37
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 18
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 62
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

Founder Technology Group Co.,Ltd. focuses on the design, research, manufacturing, and sale of printed circuit boards (PCB) in China. The company offers high-multilayer boards, HDI boards, rigid-flex boards, and customized PCBs. Its products are used in communication equipment, smart terminals, switches, optical modules, AI servers, and special applications.

Full company description

Founder Technology Group Co.,Ltd. focuses on the design, research, manufacturing, and sale of printed circuit boards (PCB) in China. The company offers high-multilayer boards, HDI boards, rigid-flex boards, and customized PCBs. Its products are used in communication equipment, smart terminals, switches, optical modules, AI servers, and special applications. The company was founded in 1985 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Founder Technology Group reported revenue of ¥4.9B in FY2025 versus ¥5.4B in FY2021, a compound −2.3%/yr. Reported net income was ¥472M in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.9B CNY
Latest YoY
+41.9%
Avg. 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.
+0.3%
Avg. 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.
−3.7%
Avg. growth/yr (35Y) 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.
+21.0%
Revenue −2.3%/yr
FY21 ¥5.4B
FY22 ¥4.9B
FY23 ¥3.1B
FY24 ¥3.5B
FY25 ¥4.9B
Net income
FY21 −¥1.2B
FY22 −¥424M
FY23 ¥135M
FY24 ¥257M
FY25 ¥472M
Character of growth · EPS growth decomposed (2014-2024) −6.3 % p.a.
Revenue per share −13.9 pp

of which total revenue −7.5 pp · buybacks/dilution −6.4 pp

EBIT margin +8.5 pp
Tax rate +1.6 pp
Residual (interest, one-offs) −2.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

600601 screens 78% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Founder Technology Group Fair Value". https://www.fairvalue-calculator.com/stock/600601

Peer Group

Electronic Components · 647 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 49 · Below median
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 64% · Top 25%
Debt / equity 0.32× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 89.9× · Pricier than 75% of peers
P/B 11.90× · Pricier than 75% of peers
P/S (TTM) 9.91× · Pricier than 75% of peers
EV/EBITDA 58.3× · Pricier than 75% of peers

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 36
PAST 55 · sector 24
HEALTH 84 · sector 95
DIVIDEND 0 · sector 24

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,790 TWD 602.37 TWD -66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 -31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW -88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 -90%
Shengyi Technology Co 600183 ¥143.23 ¥36.30 -75%
Shennan Circuits Co 002916 ¥385.80 ¥125.52 -67%
Victory Giant Technology (HuiZhou) Co 2476 HK$238.60 HK$75.68 -68%
Kingboard Laminates Holdings 1888 HK$38.70 HK$8.95 -77%
Asia Vital Components Co 3017 2,910 TWD 1,369 TWD -53%
Nan Ya Printed Circuit Board Corporation 8046 1,215 TWD 1,768 TWD +46%

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Frequently asked questions

Is Founder Technology Group (600601) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥2.77 versus a price of ¥12.58, about −78% (overvalued).
What is the fair value of 600601?
Our model-based fair value for Founder Technology Group is ¥2.77 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥12.58.
What is the quality score of 600601?
Founder Technology Group has a Quality Score of 49/100. 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 Founder Technology Group (600601)?
Founder Technology Group reported trailing-twelve-month revenue of about 5.6B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 600601?
The net profit margin of Founder Technology Group is about 11.3%, meaning it keeps roughly 11.3% 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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