Wencan Group (603348) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.7B CNY

Below-average quality, screening 25% undervalued on our models.

What matters now

• A fairly wide model range (¥11.18 to ¥24.48) leaves room in how you read the outcome.
• Our model range runs from ¥11.18 (bear) to ¥24.48 (bull), base ¥17.82. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 22/100 (below-average quality) with medium evidence: read the verdict with care.

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 ¥12.78 – ¥96.73 · fair‑value band ¥11.18 – ¥24.48 · the ¥14.22 price screens below the ¥17.82 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Wencan Group (603348) currently trades at ¥14.22, while our model-based Fair Value estimate is ¥17.82, implying the stock looks roughly 25.3% undervalued today. The Quality Score stands at 22/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, Wencan Group generated revenue of 6.0B CNY at a net margin of -7.3%. Revenue grew 3.3% year over year. It earns a return on equity of -10.6%. Net debt stands at 1.4B CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥11.18 (bear case) to ¥24.48 (bull case); at ¥14.22, 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 25%, 603348 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.

Widest divergence: Multiples (¥11.74) versus Earnings-Based (¥5.17). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Quality Score breakdown

About the company

Wencan Group Co., Ltd. engages in the research and development, production, and sale of aluminum alloy precision castings in China and internationally.

Full company description

Wencan Group Co., Ltd. engages in the research and development, production, and sale of aluminum alloy precision castings in China and internationally. It offers integrated body systems, such as monocoque front end, split front end, integrated side panel, and semi-monocoque rear floor and rear assembly; body structural system, including A pillar, door panel, front shock absorber, rear longitudinal beam, and torque box; battery housing system comprising battery housing assembly, battery housing component, and hybrid battery housing box; and new energy power system, which includes three-in-one motor housing, range-extender motor housing, range-extender motor housing end cover, front box, intermediate housing, and left housing. The company also provides chassis systems, such as front subframe, rear subframe, semi-split front subframe, semi-split rear subframe, and chassis connecting parts; brake system, including caliper, fixed monobloc caliper, vacuum booster master cylinder, and floating caliper; engine and transmission systems comprising AT transmission, AT clutch, DCT transmission, and DCT clutch housing; and outer and middle valve body. In addition, it offers other systems, such as drum, A/C compressor, and cover, adapter plate, long drive shaft, and short drive shafts for yacht engines. The company was formerly known as Guangdong Wencan Die Casting Co., Ltd. and changed its name to Wencan Group Co., Ltd. in July 2021. Wencan Group Co., Ltd. was founded in 1998 and is headquartered in Foshan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wencan Group reported revenue of ¥5.9B in FY2025 versus ¥4.1B in FY2021, a compound +9.5%/yr. Reported net income was −¥348M in FY2025.

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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.

Valuation Multiples vs Auto Parts 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.

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.

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Frequently asked questions

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.