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Jiangsu Lettall Electronic Co Ltd (603629) Fair Value & Analysis

Technology · CN · Market cap 46.7B CNY (≈ $7.0B) · ISIN CNE100003J98

What is Jiangsu Lettall Electronic Co Ltd really worth?

JL Jiangsu Lettall Electronic Co Ltd 603629 · SHG
Price¥111.61
Fair Value¥22.34
Upside−80.0%
Quality59/100

A solid business, but trading 400% above our fair value of ¥22.34.

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Strengths

Healthy Growth (revenue 5y +15.0 %/yr)
Solidly profitable · 14.8% net margin
Low debt · generates free cash flow
Wide moat 76/100

Risks

!Mixed vs. peers (7/14)
!Weak on dividend: 8 out of 100

For context

·0.40% dividend yield
Evidence: High Range ¥14.54 – ¥27.92

Fair value as of: Aug 27, 2026

From 26 valuation models · updated 8 days ago

Share price +9.0% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (¥27.92). 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.
  • A fairly wide model range (¥14.54 to ¥27.92) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

¥240.73 ¥7.99 Fair Value ¥22.34 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range ¥7.99 – ¥240.73 · fair‑value band ¥14.54 – ¥27.92 · the ¥111.61 price screens above the ¥22.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Jiangsu Lettall Electronic Co Ltd (603629) currently trades at ¥111.61, while our model-based Fair Value estimate is ¥22.34, implying the stock looks roughly 399.5% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥30.25 per share, and 0 of the 26 models we run sit above the ¥111.61 price. Bear case: the Dividend Discount group reads lowest at ¥2.84, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Jiangsu Lettall Electronic Co Ltd generated revenue of 3.6B CNY at a net margin of 14.8%. Revenue grew 41.6% year over year. It earns a return on equity of 27.2%. Net debt stands at 943M CNY. Fundamentals as of Aug 27, 2026

Our scenario range runs from ¥14.54 (bear case) to ¥27.92 (bull case); at ¥111.61, 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 54% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −80%, 603629 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥1.06 per share, which is 4.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥2.84 to ¥62.59). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence ¥18.28 ¥34.02 ¥62.55 77
Growth DCF ¥18.01 ¥32.07 ¥56.62 75
EPV ¥11.69 ¥13.51 ¥15.10 74
All 26 models by family
DCF Models
FCF DCF best evidence ¥18.28 ¥34.02 ¥62.55 77
Owner Earnings ¥17.81 ¥33.13 ¥60.90 73
5Y Revenue Exit ¥14.21 ¥24.32 ¥38.18 71
5Y EBITDA Exit ¥32.23 ¥62.59 ¥102.06 73
5Y P/E Exit ¥17.00 ¥30.25 ¥45.74 69
10Y Revenue Exit ¥15.01 ¥25.23 ¥41.28 65
10Y EBITDA Exit ¥27.51 ¥53.76 ¥96.35 65
10Y P/E Exit ¥17.29 ¥29.65 ¥47.79 62
Earnings-Based
Graham-Dodd ¥5.43 ¥27.82 ¥38.45 64
Lynch FV ¥7.58 ¥10.83 ¥14.09 61
PEG = 1.0 ¥7.58 ¥10.83 ¥14.09 57
EPV ¥11.69 ¥13.51 ¥15.10 74
Dividend Discount
Gordon GGM ¥1.62 ¥3.37 ¥5.35 66
DDM Multi-Stage ¥1.62 ¥2.84 ¥3.54 66
Multiples
P/E Multiple ¥16.75 ¥22.34 ¥27.92 63
P/S Multiple ¥10.17 ¥13.56 ¥16.95 58
P/B Multiple ¥10.17 ¥13.56 ¥16.95 55
EV/EBIT ¥23.69 ¥31.33 ¥38.97 66
EV/EBITDA ¥41.24 ¥54.72 ¥68.21 67
EV/Revenue ¥12.36 ¥17.33 ¥22.29 54
Asset-Based
NCAV (Graham) ¥2.65 ¥3.56 ¥5.31 54
Growth DCF
Growth DCF ¥18.01 ¥32.07 ¥56.62 75
Rev-Margin DCF ¥14.21 ¥24.07 ¥37.23 71
Economic Profit
Residual Income ¥5.32 ¥7.09 ¥20.79 66
ROIC Compounder ¥13.37 ¥17.80 ¥23.51 72
Growth Earnings
Growth-Adj P/E ¥13.41 ¥19.16 ¥24.91 67

Widest divergence: DCF Models (¥30.25) versus Dividend Discount (¥2.84). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 77.5
P/S ratio 6.86 P/E × margin
EPS (TTM) ¥1.44 price ÷ EPS = P/E 77.5
Dividend yield 0.4% payout 31.3%
Net margin 8.8% FY2025
Return on equity 27.2% TTM
More key figures
Profitability
Return on assets (EBIT) 2.8% avg 5y
Operating margin 38.0% TTM
Growth
Revenue (TTM) 3.6B CNY TTM
Revenue growth (YoY) +41.6% 3y avg +17.8%
EPS growth (YoY) +827%
Balance sheet & cash flow
Free cash flow 478M CNY FY2025
Net debt 943M CNY FY2025 · ≈ 2.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 48

Profitability 40
Margins and returns on capital today
Quality Growth 92
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 43
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Jiangsu Lettall Electronic Co.,Ltd is involved in the design, manufacture, and sales of precision metal structural parts, appearance parts, and electronic components for liquid crystal displays in China and internationally.

Full company description

Jiangsu Lettall Electronic Co.,Ltd is involved in the design, manufacture, and sales of precision metal structural parts, appearance parts, and electronic components for liquid crystal displays in China and internationally. The company offers LCD TV precision metal stamping structural parts, precision metal face frames, bases, molds, and other electronic components. The company was founded in 1980 and is headquartered in Yixing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Lettall Electronic Co Ltd reported revenue of 3.3B CNY in FY2025 versus 1.8B CNY in FY2021, a compound +16.4%/yr. Reported net income was 293M CNY in FY2025, compounding +50.1%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.3B CNY
Latest YoY
+47.2%
Avg. revenue growth/yr (3Y) 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.
+17.8%
Avg. revenue growth/yr (5Y) 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.
+15.0%
Avg. revenue growth/yr (11Y) 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.
+13.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+31.1% (30.7 + 0.4)
Revenue +16.4%/yr
FY21 1.8B CNY
FY22 2.0B CNY
FY23 1.9B CNY
FY24 2.2B CNY
FY25 3.3B CNY
Net income +50.1%/yr
FY21 57.7M CNY
FY22 65.9M CNY
FY23 40.2M CNY
FY24 24.6M CNY
FY25 293M CNY
Character of growth · EPS growth decomposed (2014-2024) −12.6 % p.a.
Revenue per share −1.0 %

of which total revenue +10.6 % · buybacks/dilution −10.4 %

EBIT margin −9.8 %
Tax rate −1.8 %
Residual (interest, one-offs) −0.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

603629 screens 400% overvalued. Compare with Amphenol Corporation →

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Cite: Fair Value Calculator (2026). "Jiangsu Lettall Electronic Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603629

Peer Group

Electronic Components · 650 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.

Quality Score 59 · Above median
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 27% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 38% · Top 25%
Revenue growth 42% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 77.5× · Pricier than 75% of peers
P/B 24.01× · Pricier than 75% of peers
P/S (TTM) 12.98× · Pricier than 75% of peers
P/FCF 14.6× · Pricier than 75% of peers
EV/EBITDA 47.1× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 40
PAST100 · sector 25
HEALTH96 · sector 95
DIVIDEND8 · sector 24

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.

None of the checked exposures detected

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Amphenol Corporation APH $157.74 $97.19 −38%
Corning Incorporated GLW CHF 134.64 CHF 35.18 −74%
Delta Electronics, Inc 2308 1,750 TWD 602.37 TWD −66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 −31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW −88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 −90%
TE Connectivity plc TEL $202.66 $144.42 −29%
Shengyi Technology Co 600183 ¥132.80 ¥36.30 −73%
Flex Ltd FLEX $124.53 $48.10 −61%
Celestica Inc CLS $298.70 $113.54 −62%

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Frequently asked questions

Is Jiangsu Lettall Electronic Co Ltd (603629) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of ¥22.34 versus a price of ¥111.61, about −80% upside (overvalued).
What is the fair value of 603629?
Our model-based fair value for Jiangsu Lettall Electronic Co Ltd is ¥22.34 (as of Aug 27, 2026), built from audited fundamentals. The current price: ¥111.61.
What is the quality score of 603629?
Jiangsu Lettall Electronic Co Ltd has a Quality Score of 59/100. 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 revenue of Jiangsu Lettall Electronic Co Ltd (603629)?
Jiangsu Lettall Electronic Co Ltd reported trailing-twelve-month revenue of about 3.6B CNY (latest available figure, as of Aug 27, 2026).
What is the net profit margin of 603629?
The net profit margin of Jiangsu Lettall Electronic Co Ltd is about 14.8%, meaning it keeps roughly 14.8% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Lettall Electronic Co Ltd pay a dividend?
Jiangsu Lettall Electronic Co Ltd currently shows a dividend yield of about 0.40% relative to its recent price (as of Aug 27, 2026).
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