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IReader Technology Co Ltd (603533) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of IReader Technology Co Ltd stock ¥23.83, price ¥32.80, that is 27.3% below the price, quality 61 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology CN · ISIN CNE100002VN0

IT IReader Technology Co Ltd logo Thin data Nov 10, 2026

IReader Technology Co Ltd

603533 · SHG
Solid, but expensive

Our calculation puts a fair price 27% below what the stock costs today.

Quality 61/100
Expensive Growth (revenue 5y +9.5 %/yr in CNY)
Profit last quarter 56% below a year ago.
Fair value ¥23.83 · Overvalued
Loss-making · -1.9% net margin (TTM)
Negative free cash flow
Trails peers (2/10)
Narrow moat 18/100
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥37.62 ¥12.73 Fair Value ¥23.83 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥12.73 – ¥37.62 · fair‑value band ¥17.87 – ¥29.78 · the ¥32.80 price screens above the ¥23.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

IReader Technology Co., Ltd. engages in the digital reading platform and copyright product business in China. The company edits and produces digital book content with publishing houses, copyright agencies, literary websites, and authors through digital reading platforms.

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It also offers the iReader app, an e-reading mobile app that contains a library of content, including published works, original literature, audiobooks, comics, and magazines; iReader Select, which provides digital libraries and reading solutions; iReader Bookstore, which offers comics; and Dejian Novel.

The company was founded in 2008 and is based in Beijing, China.

Stock analysis

IReader Technology Co Ltd (603533) currently trades at ¥32.80, while our estimate is ¥23.83, 27% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥17.87 (bear) to ¥29.78 (bull), the price of ¥32.80 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 61/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

IReader Technology Co Ltd reported revenue of 3.2B CNY in FY2025 versus 2.1B CNY in FY2021, a compound +11.9%/yr. Reported net income was −176M CNY in FY2025.

Key figures

Market cap 14.4B CNY (≈ $2.2B) Mid · P/S ratio 3.47 · EPS (TTM) ¥−0.1500 · Dividend yield 0.4% · Net margin −1.9% · Return on equity −2.7% · Return on assets (EBIT) 1.0% (5-year average) · Operating margin −4.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (medium confidence).

What moves the price

The share trades about 13% below its 52-week high and 83% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 13% fair-value upside, at −27%, 603533 screens richer than that median.

Fair Value

Bear ¥17.87 Fair Value ¥23.83 Bull ¥29.78
Price ¥32.80 · Downside -27.3%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 61/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 36
How much profit the company makes from its sales and capital
Quality Growth 42
Are margins and returns getting better?
Cashflow 18
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 37
How calm the share price moves, does not count
Price momentum 82
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 88
Distance to the 52-week high, does not count
New shares 92
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 34/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Start year 2020 (pandemic). Over 10 years: +17.6% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
8.6% (2021) → −5.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

603533 screens overvalued: fair value 27% below the price. Compare with SAP SE →

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Peer Groupⓘ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.Software - Application · 723 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside −27.3% · Below median
Profitability
Return on assets −5.9% · Below median
Net margin (12 months) −1.9% · Below median
Operating margin (12 months) −4.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 12.1% · Above median
Dividend yield (12 months) 0.4% · Bottom 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 6.18× · Priciest 25%
P/S (12 months) 4.11× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)61 · sector 40
PAST (return on equity)0 · sector 9
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)7 · sector 28

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Adobe Inc ADBE $236.70 $463.72 +96% vs 603533
Salesforce, Inc CRM $213.48 $342.73 +61% vs 603533
Uber Technologies, Inc UBER $70.05 $101.28 +45% vs 603533
Intuit Inc INTU $340.44 $459.14 +35% vs 603533
ServiceNow, Inc NOW $99.61 $112.17 +13% vs 603533
SAP SE SAP €209.95 €173.59 −17% vs 603533
Cadence Design Systems, Inc CDNS $331.64 $225.48 −32% vs 603533
Automatic Data Processing, Inc ADP $305.44 $150.40 −51% vs 603533
Shopify Inc SHOP $146.61 $64.96 −56% vs 603533
Snowflake Inc SNOW $295.76 $73.81 −75% vs 603533

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IReader Technology Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "IReader Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603533

Frequently asked questions

Is IReader Technology Co Ltd (603533) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥23.83 versus a price of ¥32.80, about 27% lower (overvalued).
What is the fair value of 603533?
Our estimate for IReader Technology Co Ltd is ¥23.83 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥32.80.
What is the quality score of 603533?
IReader Technology Co Ltd has a Quality Score of 61/100. 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 price target for IReader Technology Co Ltd (603533)?
Our calculated price target is the estimate of ¥23.83 (as of Nov 10, 2026). Cautious scenario ¥17.87, optimistic scenario ¥29.78. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the IReader Technology Co Ltd stock forecast for 2026?
Our estimate puts fair value at ¥23.83, about 27% lower versus a price of ¥32.80 (overvalued). Cautious scenario ¥17.87, optimistic scenario ¥29.78. The calculation is refreshed regularly with new filings.
What is the revenue of IReader Technology Co Ltd (603533)?
IReader Technology Co Ltd reported trailing-twelve-month revenue of about 3.5B CNY (latest available figure, as of Nov 10, 2026).
Does IReader Technology Co Ltd pay a dividend?
IReader Technology Co Ltd currently shows a dividend yield of 0.36% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of IReader Technology Co Ltd (603533)?
IReader Technology Co Ltd has a dividend yield of 0.4%.
What is the intrinsic value of IReader Technology Co Ltd (603533)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IReader Technology Co Ltd it is ¥23.83 per share (as of Nov 10, 2026), against a price of ¥32.80.
Is IReader Technology Co Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 603533 trades above its calculated fair value: price ¥32.80, fair value ¥23.83, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 603533?
No. The price is what the market pays today (¥32.80); the fair value is what the company's own numbers justify (¥23.83). For IReader Technology Co Ltd the two are ¥8.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is IReader Technology Co Ltd worth?
The market values IReader Technology Co Ltd at about 14.4B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥32.80; our models calculate a fair value of ¥23.83 per share.
What do the bullish and bearish scenarios say about 603533?
Our models span a range for IReader Technology Co Ltd: cautious scenario ¥17.87, base ¥23.83, optimistic ¥29.78 per share (as of Nov 10, 2026, price ¥32.80). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of IReader Technology Co Ltd (603533)?
Balance-sheet figures for IReader Technology Co Ltd (as of Nov 10, 2026): return on equity −2.7%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 603533 from its 52-week high?
IReader Technology Co Ltd trades at ¥32.80, about 13% below its 52-week high of ¥37.62 and 83% above the low of ¥17.90 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥23.83 is for.
Which stocks are comparable to IReader Technology Co Ltd?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is IReader Technology Co Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price ¥32.80, calculated fair value ¥23.83 (−27%), Quality Score 61/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. IReader Technology Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of IReader Technology Co Ltd (603533)?
The closing price on Nov 10, 2026 was ¥32.80. Our estimate is ¥23.83, about 27% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IReader Technology Co Ltd right now?
The price sits above even our optimistic bull case (¥29.78). 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. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of IReader Technology Co Ltd (603533) come from?
Earnings per share at IReader Technology Co Ltd grew −4.2 % a year from 2013 to 2024. Broken into its drivers: revenue per share +17.1 %, EBIT margin −16.9 %, tax rate −0.7 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of IReader Technology Co Ltd

How large is the market capitalisation of IReader Technology Co Ltd (603533)?
The market capitalisation of IReader Technology Co Ltd is 14.4B CNY (≈ $2.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of IReader Technology Co Ltd (603533)?
The price-to-sales ratio of IReader Technology Co Ltd is 3.47 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IReader Technology Co Ltd (603533)?
Earnings per share at IReader Technology Co Ltd are ¥−0.1500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IReader Technology Co Ltd (603533)?
The dividend yield of IReader Technology Co Ltd is 0.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of IReader Technology Co Ltd (603533)?
The net margin of IReader Technology Co Ltd is −1.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of IReader Technology Co Ltd (603533)?
The return on equity (ROE) of IReader Technology Co Ltd is −2.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of IReader Technology Co Ltd (603533)?
On an EBIT basis the return on assets of IReader Technology Co Ltd is 1.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of IReader Technology Co Ltd (603533)?
The operating margin of IReader Technology Co Ltd is −4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IReader Technology Co Ltd (603533)?
Revenue at IReader Technology Co Ltd is growing +12.1% versus a year earlier (3y avg +7.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at IReader Technology Co Ltd (603533)?
Earnings per share at IReader Technology Co Ltd are growing −56.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IReader Technology Co Ltd (603533) generate?
The free cash flow of IReader Technology Co Ltd is −267M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does IReader Technology Co Ltd (603533) hold?
IReader Technology Co Ltd holds more cash than debt, 2.0B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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