Square Technology Group (603339) Fair Value & Analysis
Industrials · CN · Market cap 3.9B CNY
Fair value as of: Jul 11, 2026
From 25 valuation models · updated 30 days ago
Share price −7.6% over the past month.
A solid business, but screening 27% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥13.10). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range ¥7.97 – ¥18.09 · fair‑value band ¥7.86 – ¥13.10 · the ¥14.29 price screens above the ¥10.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Square Technology Group (603339) currently trades at ¥14.29, while our model-based Fair Value estimate is ¥10.48, implying the stock looks roughly 26.7% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials 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, Square Technology Group generated revenue of 1.6B CNY at a net margin of 9.0%. Revenue declined 10.1% year over year. It earns a return on equity of 5.6%. The balance sheet holds a net cash position of 646M CNY. Fundamentals as of Jul 11, 2026
Our scenario range runs from ¥7.86 (bear case) to ¥13.10 (bull case); at ¥14.29, 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 25% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -27%, 603339 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.
All 25 models by family
Widest divergence: DCF Models (¥14.62) versus Dividend Discount (¥2.90). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 53
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
Square Technology Group Co.,Ltd engages in the research and development, production, and sale of cold chain equipment and tank containers in China. It offers quick freezing equipment; refrigeration systems; heat exchanger products; and cold storage/building envelope system and complete project.
Full company description
Square Technology Group Co.,Ltd engages in the research and development, production, and sale of cold chain equipment and tank containers in China. It offers quick freezing equipment; refrigeration systems; heat exchanger products; and cold storage/building envelope system and complete project. The company also provides heat treatment equipment, such as deep fryer, spiral steam oven, continuous proofing, and continuous oven; aquatic, fruit, and vegetable product processing product line; and various food processing equipment and machinery, including freezing trays, mold, demolding device, and peeling machine. Its products are used in poultry, aquatic, rice and flour, fruit and vegetable, baking, prepared food, hot pot ingredients, and ice cream industries. Square Technology Group Co.,Ltd was founded in 1990 and is headquartered in Nantong, China
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Square Technology Group reported revenue of ¥1.7B in FY2025 versus ¥1.6B in FY2021, a compound +0.6%/yr. Reported net income was ¥154M in FY2025, compounding −2.2%/yr from FY2021.
603339 screens 27% overvalued. Compare with GE Vernova Inc →
Peer Group
Specialty Industrial Machinery · 809 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 Specialty Industrial Machinery 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc 1GEV | €887.60 | €186.93 | -79% |
| 1SIE 1SIE | €273.20 | €91.93 | -66% |
| SMNS SMNS | C$31.76 | C$22.68 | -29% |
| Eaton Corporation ETN | $407.28 | $171.92 | -58% |
| Atlas Copco AB ATCOA | kr 195.15 | kr 112.59 | -42% |
| Sandvik AB SAND | kr 384.10 | kr 193.01 | -50% |
| Doosan Enerbility Co 034020 | 76,400 KRW | 7,938 KRW | -90% |
| Vestas Wind Systems A/S VWS | kr 178.10 | kr 124.54 | -30% |
| Zhejiang Sanhua Intelligent Controls Co 002050 | ¥43.20 | ¥22.68 | -48% |
| NARI Technology Co 600406 | ¥22.19 | ¥18.71 | -16% |
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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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