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Jiang Su Suyan Jingshen Co (603299) Fair Value & Analysis

Basic Materials · CN · Market cap 8.7B CNY

JS Jiang Su Suyan Jingshen Co 603299 · SHG
Price¥9.08
Fair Value¥7.28
Upside-19.8%
Quality46/100
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Expensive Growth
Solidly profitable · 10.7% net margin
Low debt · negative free cash flow
2.76% dividend yield
Mixed vs. peers (7/13)
Narrow moat 44/100
Evidence: Medium Range ¥5.56 – ¥9.47 Share as image

Fair value as of: Aug 10, 2026

From 14 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥7.29 to ¥7.28 (−0.1%) since Jul 11, 2026. Share price +1.6% over the past month.

Below-average quality, and screening another 20% overvalued on our models.

What matters now

  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from ¥5.56 (bear) to ¥9.47 (bull), base ¥7.28. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 46/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥13.43 ¥6.79 Fair Value ¥7.28 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 ¥6.79 – ¥13.43 · fair‑value band ¥5.56 – ¥9.47 · the ¥9.08 price screens above the ¥7.28 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jiang Su Suyan Jingshen Co (603299) currently trades at ¥9.08, while our model-based Fair Value estimate is ¥7.28, implying the stock looks roughly 19.8% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials 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, Jiang Su Suyan Jingshen Co generated revenue of 4.4B CNY at a net margin of 10.7%. Revenue declined 8.9% year over year. It earns a return on equity of 6.3%. Net debt stands at 9.4M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥5.56 (bear case) to ¥9.47 (bull case); at ¥9.08, 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 29% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -20%, 603299 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 ¥5.50 ¥5.91 ¥6.57 76
ROIC Compounder ¥4.12 ¥4.68 ¥5.18 72
Gordon GGM ¥3.57 ¥5.00 ¥6.42 70
All 14 models by family
Earnings-Based
Graham-Dodd ¥3.72 ¥7.38 ¥9.25 54
EPV ¥4.12 ¥4.68 ¥5.18 59
Dividend Discount
Gordon GGM ¥3.57 ¥5.00 ¥6.42 70
DDM Multi-Stage ¥3.57 ¥4.94 ¥6.46 61
Multiples
P/E Multiple ¥6.97 ¥9.29 ¥11.62 63
P/S Multiple ¥5.31 ¥7.08 ¥8.85 58
P/B Multiple ¥6.97 ¥9.29 ¥11.62 55
EV/EBIT ¥6.29 ¥8.21 ¥10.13 53
EV/EBITDA ¥8.08 ¥10.60 ¥13.12 54
EV/Revenue ¥5.47 ¥7.59 ¥9.71 43
Asset-Based
NCAV (Graham) ¥3.29 ¥4.41 ¥6.58 50
Economic Profit
Residual Income ¥5.50 ¥5.91 ¥6.57 76
ROIC Compounder ¥4.12 ¥4.68 ¥5.18 72
Growth Earnings
Growth-Adj P/E ¥5.10 ¥7.28 ¥9.47 68

Widest divergence: Multiples (¥8.21) versus Asset-Based (¥4.41). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 4.4B CNY
Revenue growth (YoY) -8.9%
Net margin 10.7%
Return on equity 6.3%
Free cash flow −663M CNY FY2025
P/E ratio 15.7
More key figures
Operating margin 11.7%
EPS (TTM) ¥0.5800
Dividend yield 2.8%
EPS growth (YoY) -44.6%
Net debt 9.4M 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 46 · Market factors (momentum, volatility) 38

Profitability 37
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 81
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

Jiang Su Suyan Jingshen Co.,Ltd. engages in the mining, research, production, distribution, and sale of salt and salt chemicals in China. The company offers two-alkali and small industrial salt, edible salts, soda ash, calcium chloride, baking soda, and other products. The company was formerly known as Jiangsu Jingshen Salt & Chemical Industry Co., Ltd.

Full company description

Jiang Su Suyan Jingshen Co.,Ltd. engages in the mining, research, production, distribution, and sale of salt and salt chemicals in China. The company offers two-alkali and small industrial salt, edible salts, soda ash, calcium chloride, baking soda, and other products. The company was formerly known as Jiangsu Jingshen Salt & Chemical Industry Co., Ltd. and changed its name to Jiang Su Suyan Jingshen Co.,Ltd. in January 2019. Jiang Su Suyan Jingshen Co.,Ltd. was founded in 2001 and is based in Huai'an, China. Jiang Su Suyan Jingshen Co.,Ltd. is a subsidiary of Jiangsu Salt Industry Group Co.,Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiang Su Suyan Jingshen Co reported revenue of ¥4.5B in FY2025 versus ¥4.8B in FY2021, a compound −1.4%/yr. Reported net income was ¥522M in FY2025, compounding +11.8%/yr from FY2021.

Growth Quality 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.5B CNY
Latest YoY
−15.7%
Avg. growth/yr (3Y)
−8.9%
Avg. growth/yr (5Y)
+2.7%
Avg. growth/yr (16Y)
+10.7%
Revenue −1.4%/yr
FY21 ¥4.8B
FY22 ¥6.0B
FY23 ¥5.7B
FY24 ¥5.3B
FY25 ¥4.5B
Net income +11.8%/yr
FY21 ¥334M
FY22 ¥804M
FY23 ¥738M
FY24 ¥769M
FY25 ¥522M

603299 screens 20% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Jiang Su Suyan Jingshen Co Fair Value". https://www.fairvalue-calculator.com/stock/603299

Peer Group

Chemicals · 334 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 −20% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 2% · Below median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 12% · Above median
Revenue growth -9% · Bottom 25%
Dividend yield (TTM) 2.8% · Above median
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 15.7× · Cheaper than median
P/B 1.38× · Cheaper than median
P/S (TTM) 1.97× · Pricier than median
EV/EBITDA 9.8× · Pricier 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 7 · sector 0
FUTURE 0 · sector 20
PAST 25 · sector 19
HEALTH 88 · sector 94
DIVIDEND 55 · sector 27

Insider activity: 45/100

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Jiang Su Suyan Jingshen Co (603299) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥7.28 versus a price of ¥9.08, about −20% (overvalued).
What is the fair value of 603299?
Our model-based fair value for Jiang Su Suyan Jingshen Co is ¥7.28 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥9.08.
What is the quality score of 603299?
Jiang Su Suyan Jingshen Co 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 Jiang Su Suyan Jingshen Co (603299)?
Jiang Su Suyan Jingshen Co reported trailing-twelve-month revenue of about 4.4B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603299?
The net profit margin of Jiang Su Suyan Jingshen Co is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does Jiang Su Suyan Jingshen Co pay a dividend?
Jiang Su Suyan Jingshen Co currently shows a dividend yield of about 2.76% 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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