Bafang Electric (Suzhou) Co (603489) Fair Value & Analysis
Consumer Cyclical · CN · Market cap 7.5B CNY
Fair value as of: Jul 12, 2026
From 26 valuation models · updated 29 days ago
Share price +2.4% over the past month.
A solid business, but screening 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥12.05). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) 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 12, 2026.
How to read this chart
60‑month range ¥15.88 – ¥136.18 · fair‑value band ¥7.23 – ¥12.05 · the ¥26.84 price screens above the ¥9.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Bafang Electric (Suzhou) Co (603489) currently trades at ¥26.84, while our model-based Fair Value estimate is ¥9.64, implying the stock looks roughly 64.1% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical 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, Bafang Electric (Suzhou) Co generated revenue of 1.4B CNY at a net margin of 8.9%. Revenue grew 24.5% year over year. It earns a return on equity of 4.6%. The balance sheet holds a net cash position of 687M CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥7.23 (bear case) to ¥12.05 (bull case); at ¥26.84, 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 34% below its 52-week high and 13% 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 -64%, 603489 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.
All 26 models by family
Widest divergence: Multiples (¥9.64) versus Dividend Discount (¥1.49). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 43
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
Bafang Electric (Suzhou) Co.,Ltd. engages in the manufacture of e-mobility components and complete e-drive systems for e-bikes and electric scooters in China. The company offers front, mid, and rear motors; gear hub products; HMI products; downtube, intube, and rack type batteries; and controllers.
Full company description
Bafang Electric (Suzhou) Co.,Ltd. engages in the manufacture of e-mobility components and complete e-drive systems for e-bikes and electric scooters in China. The company offers front, mid, and rear motors; gear hub products; HMI products; downtube, intube, and rack type batteries; and controllers. It also provides various accessories, such as bash guards, sprocket, throttles, chain wheels, cranks, fixation parts, and motor covers. In addition, the company offers Bafang Go app which is connected for a safer and enjoyable cycling journey with remote control, real-time tracking, personalized settings, and navigation. Further, its products are used in eMTB, road, tour, city, cargo, cat fields. It offers its products to China, Netherlands, Germany, Denmark, France, Italy, the United States of America, and Taiwan. Bafang Electric (Suzhou) Co.,Ltd. was founded in 2003 and is headquartered in Suzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bafang Electric (Suzhou) Co reported revenue of ¥1.3B in FY2025 versus ¥2.6B in FY2021, a compound −15.7%/yr. Reported net income was ¥103M in FY2025, compounding −35.8%/yr from FY2021.
603489 screens 64% overvalued. Compare with Hyundai Mobis Co →
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.
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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 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
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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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