Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) Fair Value & Analysis
Technology · CN · Market cap 14.0B CNY
Strengths
Risks
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 7 days ago
Fair value updated Aug 13, 2026, revised from ¥5.44 to ¥7.14 (+31.3%) since Aug 10, 2026. Share price +3.4% over the past month.
A solid business, but screening 80% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥9.51). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥3.93 to ¥9.51) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 ¥9.95 – ¥57.70 · fair‑value band ¥3.93 – ¥9.51 · the ¥35.28 price screens above the ¥7.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) currently trades at ¥35.28, while our model-based Fair Value estimate is ¥7.14, implying the stock looks roughly 79.8% overvalued today. The Quality Score stands at 62/100 (solid 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: high).
Over the trailing twelve months, Jiangyin Jianghua Microelectronics Materials Co Ltd generated revenue of 1.3B CNY at a net margin of 8.3%. Revenue grew 16.9% year over year. It earns a return on equity of 5.5%. Net debt stands at 29.0M CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥3.93 (bear case) to ¥9.51 (bull case); at ¥35.28, 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 27% below its 52-week high and 106% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -72% fair-value upside, at -80%, 603078 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.
All 26 models by family
Widest divergence: Growth Earnings (¥6.56) versus Dividend Discount (¥2.00). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 67
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
Jiangyin Jianghua Microelectronics Materials Co., Ltd engages in the research and development, production, and sale of ultra-clean high-purity reagents, photoresist supporting reagents, and other wet electronic chemicals in China.
Full company description
Jiangyin Jianghua Microelectronics Materials Co., Ltd engages in the research and development, production, and sale of ultra-clean high-purity reagents, photoresist supporting reagents, and other wet electronic chemicals in China. The company offers general chemicals, including acids and bases, solvents, and other products; functional chemicals, such as developing and rinsing solutions, stripping fluid, cleaning agent, and etching products. Its products are applied in integrated circuits, display panel, and crystalline silicon cells areas. The company was founded in 2001 and is based in Jiangyin, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Jiangyin Jianghua Microelectronics Materials Co Ltd reported revenue of ¥1.2B in FY2025 versus ¥792M in FY2021, a compound +11.7%/yr. Reported net income was ¥105M in FY2025, compounding +16.7%/yr from FY2021.
of which total revenue +14.0 pp · buybacks/dilution −6.3 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).
603078 screens 80% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 215 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.
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
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: 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.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.51 | C$21.21 | -58% |
| Applied Materials, Inc AMAT | $548.15 | $183.10 | -67% |
| Lam Research Corporation LRCX | $326.11 | $91.80 | -72% |
| NAURA Technology Group 002371 | ¥760.00 | ¥205.30 | -73% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥380.95 | ¥55.05 | -86% |
| Hon. Precision, Inc 7769 | 6,445 TWD | 1,804 TWD | -72% |
| MPI Corporation 6223 | 6,495 TWD | 738.64 TWD | -89% |
| HANMI Semiconductor Co 042700 | 217,500 KRW | 47,976 KRW | -78% |
| Wonik IPS Co 240810 | 120,000 KRW | 36,380 KRW | -70% |
| LEENO Industrial Inc 058470 | 71,400 KRW | 46,234 KRW | -35% |
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Frequently asked questions
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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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