IReader Technology Co (603533) Fair Value & Analysis
Technology · CN · Market cap 10.2B CNY
Fair value as of: Aug 11, 2026
From 3 valuation models · updated today
Fair value updated Aug 11, 2026, revised from ¥1.82 to ¥11.80 (+548.4%) since Jul 11, 2026. Share price +18.1% over the past month.
A solid business, but screening 48% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥17.88). The favourable scenario is already priced in.
- The model range is unusually wide (¥5.94 to ¥17.88). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (62/100) 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 Aug 11, 2026.
How to read this chart
60‑month range ¥12.73 – ¥37.93 · fair‑value band ¥5.94 – ¥17.88 · the ¥22.82 price screens above the ¥11.80 fair value. Dashed = 300-day average. As of Aug 11, 2026.
Analysis
IReader Technology Co (603533) currently trades at ¥22.82, while our model-based Fair Value estimate is ¥11.80, implying the stock looks roughly 48.3% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology 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: low).
Over the trailing twelve months, IReader Technology Co generated revenue of 3.4B CNY at a net margin of -4.0%. Revenue grew 23.5% year over year. It earns a return on equity of -5.5%. The balance sheet holds a net cash position of 2.0B CNY. Fundamentals as of Aug 11, 2026
Our scenario range runs from ¥5.94 (bear case) to ¥17.88 (bull case); at ¥22.82, 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 39% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -48%, 603533 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 3 models by family
Widest divergence: Asset-Based (¥3.56) versus Dividend Discount (¥1.61). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 32
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
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
IReader Technology Co reported revenue of ¥3.2B in FY2025 versus ¥2.1B in FY2021, a compound +11.9%/yr. Reported net income was −¥176M in FY2025.
of which total revenue +22.4 pp · buybacks/dilution −5.3 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
603533 screens 48% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 708 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 Software - Application 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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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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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