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Jiangsu Changshu Automotive Trim Group (603035) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.0B CNY

JC Jiangsu Changshu Automotive Trim Group 603035 · SHG
Price¥10.99
Fair Value¥16.06
Upside+46.1%
Quality46/100
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Expensive Growth
Thin margins · 4.4% net margin
Low debt · negative free cash flow
1.49% dividend yield
Mixed vs. peers (7/13)
Narrow moat 32/100
Evidence: High Range ¥11.61 – ¥20.08 Share as image

Fair value as of: Aug 10, 2026

From 17 valuation models · updated today

Share price +1.7% over the past month.

Below-average quality, screening 46% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥11.61). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

¥24.59 ¥10.22 Fair Value ¥16.06 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 10, 2026.

How to read this chart

60‑month range ¥10.22 – ¥24.59 · fair‑value band ¥11.61 – ¥20.08 · the ¥10.99 price screens below the ¥16.06 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jiangsu Changshu Automotive Trim Group (603035) currently trades at ¥10.99, while our model-based Fair Value estimate is ¥16.06, implying the stock looks roughly 46.1% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical 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, Jiangsu Changshu Automotive Trim Group generated revenue of 7.4B CNY at a net margin of 4.4%. Revenue grew 25.0% year over year. It earns a return on equity of 5.6%. Net debt stands at 1.3B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥11.61 (bear case) to ¥20.08 (bull case); at ¥10.99, the current price sits below 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 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 46%, 603035 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 ¥11.47 ¥11.94 ¥12.26 76
ROIC Compounder ¥5.76 ¥6.68 ¥7.48 72
Gordon GGM ¥4.31 ¥8.58 ¥13.00 70
All 17 models by family
DCF Models
Owner Earnings ¥20.24 ¥44.97 ¥94.96 31
Earnings-Based
Graham-Dodd ¥6.43 ¥44.81 ¥62.89 54
Lynch FV ¥14.90 ¥21.29 ¥27.68 50
PEG = 1.0 ¥14.90 ¥21.29 ¥27.68 46
EPV ¥5.76 ¥6.68 ¥7.48 59
Dividend Discount
Gordon GGM ¥4.31 ¥8.58 ¥13.00 70
DDM Multi-Stage ¥4.31 ¥7.42 ¥9.06 61
Multiples
P/E Multiple ¥15.59 ¥20.79 ¥25.99 63
P/S Multiple ¥12.05 ¥16.06 ¥20.08 58
P/B Multiple ¥12.05 ¥16.06 ¥20.08 55
EV/EBIT ¥9.56 ¥12.77 ¥15.99 53
EV/EBITDA ¥16.90 ¥22.56 ¥28.22 54
EV/Revenue ¥6.42 ¥9.20 ¥11.99 43
Asset-Based
NCAV (Graham) ¥7.25 ¥9.71 ¥14.49 50
Economic Profit
Residual Income ¥11.47 ¥11.94 ¥12.26 76
ROIC Compounder ¥5.76 ¥6.68 ¥7.48 72
Growth Earnings
Growth-Adj P/E ¥20.07 ¥28.67 ¥37.27 68

Widest divergence: DCF Models (¥44.97) versus Economic Profit (¥6.68). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 7.4B CNY
Revenue growth (YoY) +25.0%
Net margin 4.4%
Return on equity 5.6%
Free cash flow −212M CNY FY2025
P/E ratio 12.1
More key figures
Operating margin 3.3%
EPS (TTM) ¥0.9100
Dividend yield 1.5%
EPS growth (YoY) -13.0%
Net debt 1.3B CNY FY2025

Figures from reported company fundamentals · as of Aug 10, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 32

Profitability 29
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 95
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

Jiangsu Changshu Automotive Trim Group Co., Ltd. engages in the research and development, production, and sales of automotive interior parts assembly products in China and internationally.

Full company description

Jiangsu Changshu Automotive Trim Group Co., Ltd. engages in the research and development, production, and sales of automotive interior parts assembly products in China and internationally. The company provides IP/console, air vents, door trim, window regulator, pillars/sills, seatings, parcel shelf, trunk trim, carpet, bumpers, FEM, plastic tailgate, high gloss B pillar, and wheelhouse. The company was formerly known as Changshu Automotive Trim Co., Ltd. and changed its name to Jiangsu Changshu Automotive Trim Group Co., Ltd. In September 2020. The company was founded in 1992 and is based in Changshu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Changshu Automotive Trim Group reported revenue of ¥7.1B in FY2025 versus ¥2.6B in FY2021, a compound +28.3%/yr. Reported net income was ¥346M in FY2025, compounding −4.7%/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)
7.1B CNY
Latest YoY
+25.5%
Avg. growth/yr (3Y)
+24.7%
Avg. growth/yr (5Y)
+26.2%
Avg. growth/yr (14Y)
+18.3%
Revenue +28.3%/yr
FY21 ¥2.6B
FY22 ¥3.7B
FY23 ¥4.6B
FY24 ¥5.7B
FY25 ¥7.1B
Net income −4.7%/yr
FY21 ¥420M
FY22 ¥512M
FY23 ¥546M
FY24 ¥425M
FY25 ¥346M

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Cite: Fair Value Calculator (2026). "Jiangsu Changshu Automotive Trim Group Fair Value". https://www.fairvalue-calculator.com/stock/603035

Peer Group

Auto Parts · 642 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 46 · Below median
Fair Value upside +46% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 12.1× · Cheaper than 75% of peers
P/B 0.76× · Cheaper than 75% of peers
P/S (TTM) 0.54× · Cheaper than median
EV/EBITDA 6.8× · 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 95 · sector 17
FUTURE 100 · sector 23
PAST 22 · sector 26
HEALTH 94 · sector 95
DIVIDEND 30 · sector 30

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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Jiangsu Changshu Automotive Trim Group (603035) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥16.06 versus a price of ¥10.99, about +46% (undervalued).
What is the fair value of 603035?
Our model-based fair value for Jiangsu Changshu Automotive Trim Group is ¥16.06 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥10.99.
What is the quality score of 603035?
Jiangsu Changshu Automotive Trim Group has a Quality Score of 46/100. 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 Jiangsu Changshu Automotive Trim Group (603035)?
Jiangsu Changshu Automotive Trim Group reported trailing-twelve-month revenue of about 7.4B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603035?
The net profit margin of Jiangsu Changshu Automotive Trim Group is about 4.4%, meaning it keeps roughly 4.4% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Changshu Automotive Trim Group pay a dividend?
Jiangsu Changshu Automotive Trim Group currently shows a dividend yield of about 1.41% relative to its recent price (as of Aug 10, 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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