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Changshu Tongrun Auto Accessory Co (603201) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 3.2B CNY

CT Changshu Tongrun Auto Accessory Co 603201 · SHG
Price¥16.68
Fair Value¥18.46
Upside+10.7%
Quality59/100
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Healthy Growth
Thin margins · 6.4% net margin
Low debt · generates free cash flow
2.01% dividend yield
Ranks above peers (10/14)
Moderate moat 46/100
Evidence: High Range ¥12.55 – ¥24.75 Share as image

Fair value as of: Aug 10, 2026

From 24 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥19.03 to ¥18.46 (−3.0%) since Jul 11, 2026. Share price +19.5% over the past month.

A solid business, screening 11% undervalued on our models.

What matters now

  • A fairly wide model range (¥12.55 to ¥24.75) leaves room in how you read the outcome.
  • Our model range runs from ¥12.55 (bear) to ¥24.75 (bull), base ¥18.46. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

¥20.91 ¥9.90 Fair Value ¥18.46 Jul 2022 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

48‑month range ¥9.90 – ¥20.91 · fair‑value band ¥12.55 – ¥24.75 · the ¥16.68 price screens below the ¥18.46 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Changshu Tongrun Auto Accessory Co (603201) currently trades at ¥16.68, while our model-based Fair Value estimate is ¥18.46, implying the stock looks roughly 10.7% undervalued today. The Quality Score stands at 59/100 (solid 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, Changshu Tongrun Auto Accessory Co generated revenue of 3.1B CNY at a net margin of 6.4%. Revenue grew 1.1% year over year. It earns a return on equity of 11.4%. Net debt stands at 203M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥12.55 (bear case) to ¥24.75 (bull case); at ¥16.68, 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 21% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 11%, 603201 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 ¥9.11 ¥11.46 ¥14.85 80
Residual Income ¥8.56 ¥9.98 ¥18.19 76
Rev-Margin DCF ¥12.38 ¥18.27 ¥24.79 74
All 24 models by family
DCF Models
FCF DCF ¥8.89 ¥11.37 ¥15.14 38
Owner Earnings ¥7.51 ¥9.48 ¥12.49 31
5Y Revenue Exit ¥12.38 ¥18.20 ¥25.84 39
5Y EBITDA Exit ¥14.27 ¥21.46 ¥30.00 41
5Y P/E Exit ¥14.66 ¥22.14 ¥30.06 38
10Y Revenue Exit ¥10.58 ¥15.40 ¥21.17 36
10Y EBITDA Exit ¥12.08 ¥17.52 ¥23.99 37
10Y P/E Exit ¥12.32 ¥17.97 ¥24.03 35
Earnings-Based
Graham-Dodd ¥7.72 ¥14.94 ¥18.67 54
EPV ¥13.27 ¥15.04 ¥16.57 59
Dividend Discount
Gordon GGM ¥3.93 ¥5.38 ¥6.82 70
DDM Multi-Stage ¥3.93 ¥5.39 ¥7.04 61
Multiples
P/E Multiple ¥18.74 ¥24.98 ¥31.23 63
P/S Multiple ¥14.46 ¥19.28 ¥24.11 58
P/B Multiple ¥14.48 ¥19.30 ¥24.13 55
EV/EBIT ¥23.16 ¥30.21 ¥37.25 53
EV/EBITDA ¥20.02 ¥26.02 ¥32.01 54
EV/Revenue ¥15.52 ¥21.31 ¥27.09 43
Asset-Based
NCAV (Graham) ¥4.67 ¥6.26 ¥9.34 50
Growth DCF
Growth DCF ¥9.11 ¥11.46 ¥14.85 80
Rev-Margin DCF ¥12.38 ¥18.27 ¥24.79 74
Economic Profit
Residual Income ¥8.56 ¥9.98 ¥18.19 76
ROIC Compounder ¥13.53 ¥15.78 ¥18.08 72
Growth Earnings
Growth-Adj P/E ¥13.44 ¥19.20 ¥24.96 68

Widest divergence: Multiples (¥21.31) versus Dividend Discount (¥5.38). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.1B CNY
Revenue growth (YoY) +1.1%
Net margin 6.4%
Return on equity 11.4%
Free cash flow 133M CNY FY2025
P/E ratio 17.5
More key figures
Operating margin 8.8%
EPS (TTM) ¥1.04
Dividend yield 1.9%
EPS growth (YoY) -35.7%
Net debt 203M CNY FY2021

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 46

Profitability 51
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 79
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

Changshu Tongrun Auto Accessory Co., Ltd. engages in the research, development, manufacture, and sale of various hydraulic jacks.

Full company description

Changshu Tongrun Auto Accessory Co., Ltd. engages in the research, development, manufacture, and sale of various hydraulic jacks. It provides garage series, tool cabinet and cart, work bench, jobsite box, tool box, and tool cabinet with tools; bottle jacks, floor jacks, jack stands, engine stand, engine crane, auto equipment and accessories, screw jacks, auto tools and storage, motorcycle equipment, other jacks, log splitter, wheel dolly, hydraulic shop press, transmission jacks, lifting table cart, and portable pow; and e-vehicle battery lift table and other e-vehicle tools. The company also offers post hydraulic lift, brake lathe, wheel alignment, scissor hydraulic lift, single-post car lift, tire balancer and changer, tire expander, tire vulicanizing machine, car jacks, emergency hand brakes, and spare tire jacks. It offers its products under the BIGRED, BLACK JACK, TCE, YELLOW JACKET, and ROAD DAWG brand names. The company was founded in 1954 and is headquartered in Changshu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Changshu Tongrun Auto Accessory Co reported revenue of ¥3.1B in FY2025 versus ¥3.1B in FY2021, a compound −0.0%/yr. Reported net income was ¥216M in FY2025, compounding +11.0%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.1B CNY
Latest YoY
+1.4%
Avg. growth/yr (3Y)
+3.4%
Avg. growth/yr (5Y)
+4.3%
Revenue −0.0%/yr
FY21 ¥3.1B
FY22 ¥2.8B
FY23 ¥2.8B
FY24 ¥3.0B
FY25 ¥3.1B
Net income +11.0%/yr
FY21 ¥142M
FY22 ¥173M
FY23 ¥210M
FY24 ¥245M
FY25 ¥216M

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Cite: Fair Value Calculator (2026). "Changshu Tongrun Auto Accessory Co Fair Value". https://www.fairvalue-calculator.com/stock/603201

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 59 · Above median
Fair Value upside +11% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 16.0× · Cheaper than median
P/B 1.79× · Pricier than median
P/S (TTM) 1.04× · Cheaper than median
P/FCF 3.5× · Pricier than median
EV/EBITDA 8.3× · 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 48 · sector 17
FUTURE 6 · sector 23
PAST 46 · sector 26
HEALTH 94 · sector 95
DIVIDEND 40 · 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 Changshu Tongrun Auto Accessory Co (603201) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥18.46 versus a price of ¥16.68, about +11% (undervalued).
What is the fair value of 603201?
Our model-based fair value for Changshu Tongrun Auto Accessory Co is ¥18.46 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥16.68.
What is the quality score of 603201?
Changshu Tongrun Auto Accessory Co has a Quality Score of 59/100. 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 Changshu Tongrun Auto Accessory Co (603201)?
Changshu Tongrun Auto Accessory Co reported trailing-twelve-month revenue of about 3.1B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603201?
The net profit margin of Changshu Tongrun Auto Accessory Co is about 6.4%, meaning it keeps roughly 6.4% of revenue as net income. Based on the latest reported figures.
Does Changshu Tongrun Auto Accessory Co pay a dividend?
Changshu Tongrun Auto Accessory Co currently shows a dividend yield of about 1.86% 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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