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Bestlink Technologies Co (603206) Fair Value & Analysis

Technology · CN · Market cap 4.5B CNY

BT Bestlink Technologies Co 603206 · SHG
Price¥14.69
Fair Value¥6.28
Upside-57.2%
Quality47/100
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Healthy Growth
Thin margins · 0.9% net margin
generates free cash flow
0.40% dividend yield
Trails peers (1/13)
Narrow moat 26/100
Evidence: High Range ¥4.72 – ¥7.85 Share as image

Fair value as of: Aug 10, 2026

From 26 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥3.49 to ¥6.28 (+80.0%) since Jul 11, 2026. Share price +4.4% over the past month.

Below-average quality, and screening another 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥7.85). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (4 years)

¥29.36 ¥11.21 Fair Value ¥6.28 May 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

51‑month range ¥11.21 – ¥29.36 · fair‑value band ¥4.72 – ¥7.85 · the ¥14.69 price screens above the ¥6.28 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Bestlink Technologies Co (603206) currently trades at ¥14.69, while our model-based Fair Value estimate is ¥6.28, implying the stock looks roughly 57.2% overvalued today. The Quality Score stands at 47/100 (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: high).

Over the trailing twelve months, Bestlink Technologies Co generated revenue of 4.7B CNY at a net margin of 1.0%. Revenue grew 0.2% year over year. It earns a return on equity of 2.0%. Net debt stands at 170M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥4.72 (bear case) to ¥7.85 (bull case); at ¥14.69, 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 36% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at -57%, 603206 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥5.23 ¥5.03 ¥4.03 76
Growth DCF ¥18.82 ¥26.01 ¥36.05 72
Gordon GGM ¥1.00 ¥2.00 ¥3.03 70
All 26 models by family
DCF Models
FCF DCF ¥18.67 ¥26.97 ¥39.39 38
Owner Earnings ¥5.36 ¥6.18 ¥7.40 31
5Y Revenue Exit ¥12.02 ¥15.27 ¥19.23 39
5Y EBITDA Exit ¥12.54 ¥16.26 ¥20.47 41
5Y P/E Exit ¥10.67 ¥12.71 ¥14.73 38
10Y Revenue Exit ¥14.21 ¥17.78 ¥22.30 36
10Y EBITDA Exit ¥14.68 ¥18.45 ¥23.24 37
10Y P/E Exit ¥13.50 ¥16.02 ¥18.89 35
Earnings-Based
Graham-Dodd ¥1.19 ¥3.99 ¥5.35 54
Lynch FV ¥0.9100 ¥1.30 ¥1.69 50
PEG = 1.0 ¥0.9100 ¥1.30 ¥1.69 46
EPV ¥7.72 ¥8.32 ¥8.84 59
Dividend Discount
Gordon GGM ¥1.00 ¥2.00 ¥3.03 70
DDM Multi-Stage ¥1.00 ¥1.69 ¥2.11 61
Multiples
P/E Multiple ¥2.62 ¥3.49 ¥4.36 63
P/S Multiple ¥2.22 ¥2.97 ¥3.71 58
P/B Multiple ¥2.22 ¥2.97 ¥3.71 55
EV/EBIT ¥10.77 ¥13.06 ¥15.35 53
EV/EBITDA ¥9.77 ¥11.72 ¥13.68 54
EV/Revenue ¥8.53 ¥10.52 ¥12.50 43
Asset-Based
NCAV (Graham) ¥3.71 ¥4.98 ¥7.43 50
Growth DCF
Growth DCF ¥18.82 ¥26.01 ¥36.05 72
Rev-Margin DCF ¥12.02 ¥15.46 ¥19.57 67
Economic Profit
Residual Income ¥5.23 ¥5.03 ¥4.03 76
ROIC Compounder ¥7.80 ¥8.81 ¥10.09 67
Growth Earnings
Growth-Adj P/E ¥2.24 ¥3.20 ¥4.15 68

Widest divergence: DCF Models (¥16.02) versus Earnings-Based (¥1.30). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 4.6B CNY
Revenue growth (YoY) -11.4%
Net margin 1.0%
Return on equity 2.0%
Free cash flow 409M CNY FY2025
P/E ratio 122.0
More key figures
Operating margin 2.7%
EPS (TTM) ¥0.1500
Dividend yield 0.3%
EPS growth (YoY) -37.2%
Net debt 170M CNY FY2025

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 36

Profitability 21
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 82
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

Bestlink Technologies Co.,Ltd. provides information and communication technology services in China. The company offers network construction, network operation and maintenance, information and communication system software debugging, network optimization, ICT education and training, and intelligence services.

Full company description

Bestlink Technologies Co.,Ltd. provides information and communication technology services in China. The company offers network construction, network operation and maintenance, information and communication system software debugging, network optimization, ICT education and training, and intelligence services. It serves electric energy, transportation, smart home, smart campus, smart park, smart water, as well as government and enterprise. The company was founded in 1998 and is headquartered in Nanjing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bestlink Technologies Co reported revenue of ¥4.7B in FY2025 versus ¥3.6B in FY2021, a compound +7.1%/yr. Reported net income was ¥53.2M in FY2025, compounding −29.1%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
4.7B CNY
Latest YoY
+4.6%
Avg. growth/yr (3Y)
+6.0%
Avg. growth/yr (5Y)
+9.9%
Avg. growth/yr (6Y)
+12.9%
Revenue +7.1%/yr
FY21 ¥3.6B
FY22 ¥3.9B
FY23 ¥4.4B
FY24 ¥4.5B
FY25 ¥4.7B
Net income −29.1%/yr
FY21 ¥210M
FY22 ¥214M
FY23 ¥186M
FY24 ¥69.4M
FY25 ¥53.2M

603206 screens 57% overvalued. Compare with International Business Machines Corporation →

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Cite: Fair Value Calculator (2026). "Bestlink Technologies Co Fair Value". https://www.fairvalue-calculator.com/stock/603206

Peer Group

Information Technology Services · 480 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 47 · Below median
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 0.4% · Below median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 122.4× · Pricier than 75% of peers
P/B 1.98× · Pricier than median
P/S (TTM) 0.98× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 47.8× · 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 20
FUTURE 0 · sector 29
PAST 6 · sector 36
HEALTH 0 · sector 97
DIVIDEND 8 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Bestlink Technologies Co (603206) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥6.28 versus a price of ¥14.69, about −57% (overvalued).
What is the fair value of 603206?
Our model-based fair value for Bestlink Technologies Co is ¥6.28 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥14.69.
What is the quality score of 603206?
Bestlink Technologies Co has a Quality Score of 47/100. 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 Bestlink Technologies Co (603206)?
Bestlink Technologies Co reported trailing-twelve-month revenue of about 4.7B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603206?
The net profit margin of Bestlink Technologies Co is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
Does Bestlink Technologies Co pay a dividend?
Bestlink Technologies Co currently shows a dividend yield of about 0.34% 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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