Shanghai Yongguan Adhesive Products Corp Ltd (603681) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Shanghai Yongguan Adhesive Products Corp Ltd stock ¥8.87, price ¥14.58, that is 39.2% below the price, quality 52 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ¥9.85 – ¥39.77 · fair‑value band ¥7.64 – ¥11.08 · the ¥14.58 price screens above the ¥8.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Shanghai Yongguan Adhesive Products Corp., Ltd. researches, develops, produces, and sells adhesive products in China and internationally.
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It also offers cloth duct, masking, BOPP, PVC, double sided, wire harness, aluminum foil, kraft paper, anti-slip, fiberglass and fiberglass mesh, warning, all weather, butyl, cellophane, stationery tapes; and pre-taped masking, tape lint roller, and adhesive tape dispenser.
The company offers stretch films, BOPP film adhesive tape, and laminating film. In addition, it provides hot melt adhesive for tape and label, as well as self-adhesive shipping, barcode, and logistics labels.
Further, the company offers floor graphics, cold lamination film, and self-adhesive vinyl for cars. It serves electrical, surface protection, logistics OPP tape, building, construction, and paint sectors.
Shanghai Yongguan Adhesive Products Corp., Ltd. was founded in 2002 and is based in Shanghai, China.
Stock analysis
Shanghai Yongguan Adhesive Products Corp Ltd (603681) currently trades at ¥14.58, while our model-based Fair Value estimate is ¥8.87, 39% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥12.76 per share, and 3 of the 16 models we run sit above the ¥14.58 price.
Bear case: the Dividend Discount group reads lowest at ¥3.71, and 13 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥7.64 (bear) to ¥11.08 (bull), the price of ¥14.58 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 52/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Shanghai Yongguan Adhesive Products Corp Ltd reported revenue of 6.7B CNY in FY2025 versus 3.8B CNY in FY2021, a compound +14.9%/yr. Reported net income was 124M CNY in FY2025, compounding −13.9%/yr from FY2021.
Key figures
Market cap 3.5B CNY (≈ $519M) Small · P/E ratio 17.6 · P/S ratio 0.49 · EPS (TTM) ¥0.8300 · Dividend yield 0.7% · Net margin 2.6% · Return on equity 6.1% · Return on assets (EBIT) 3.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (low confidence).
What moves the price
The share trades about 47% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at −39%, 603681 screens cheaper than that median.
Fair Value models
Bear¥7.64Fair Value ¥8.87Bull¥11.08
Price ¥14.58 · Downside -39.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.6240 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.8%
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.
+10.0%
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.
+22.6%
Start year 2020 (pandemic). Over 10 years: +25.3% a year
Revenue growth 13 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.
+22.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.2%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−9.2% vs 0.3%, slowing
Profit margin 2020 to 2025 ⓘ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% → 3%
Compare Shanghai Yongguan Adhesive Products Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Specialty Chemicals · 727 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−39.2% · Below median
Profitability
Return on equity (12 months)6.1% · Below median
Return on assets1.7% · Below median
Net margin (12 months)2.6% · Below median
Operating margin (12 months)−0.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)15.6% · Above median
Dividend yield (12 months)0.7% · Below median
Balance sheet
Debt / equity0.51× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (12 months)17.6× · Cheaper than median
P/B1.32× · Cheaper than median
P/S (12 months)0.49× · Cheapest 25%
EV/EBITDA9.5× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)78· sector 67
PAST (return on equity)25· sector 26
HEALTH (low debt)75· sector 95
DIVIDEND (yield)14· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Shanghai Yongguan Adhesive Products Corp Ltd (603681) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥8.87 versus a price of ¥14.58, about 39% lower (overvalued).
What is the fair value of 603681?
Our model-based fair value for Shanghai Yongguan Adhesive Products Corp Ltd is ¥8.87 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥14.58.
What is the quality score of 603681?
Shanghai Yongguan Adhesive Products Corp Ltd has a Quality Score of 52/100. 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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Our model-based price target is the fair value of ¥8.87 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario ¥7.64, optimistic scenario ¥11.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Yongguan Adhesive Products Corp Ltd stock forecast for 2026?
Our models put fair value at ¥8.87, about 39% lower versus a price of ¥14.58 (overvalued). Cautious scenario ¥7.64, optimistic scenario ¥11.08. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Shanghai Yongguan Adhesive Products Corp Ltd reported trailing-twelve-month revenue of about 7.0B CNY (latest available figure, as of Nov 7, 2026).
Does Shanghai Yongguan Adhesive Products Corp Ltd pay a dividend?
Shanghai Yongguan Adhesive Products Corp Ltd currently shows a dividend yield of 0.69% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Shanghai Yongguan Adhesive Products Corp Ltd (603681) and when is the ex-dividend date?
Shanghai Yongguan Adhesive Products Corp Ltd pays a dividend of ¥0.1 per share a year, a dividend yield of 0.7%. The last ex-dividend date was Jul 10, 2026. The payout ratio is 12.0% of earnings. Our assessment: Token dividend. At a yield of 0.7% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.7% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Yongguan Adhesive Products Corp Ltd it is ¥8.87 per share (as of Nov 7, 2026), against a price of ¥14.58. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Shanghai Yongguan Adhesive Products Corp Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 603681 trades above its calculated fair value: price ¥14.58, fair value ¥8.87, a gap of about −39% (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 603681?
No. The price is what the market pays today (¥14.58); the fair value is what the company's own numbers justify (¥8.87). For Shanghai Yongguan Adhesive Products Corp Ltd the two are ¥5.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Yongguan Adhesive Products Corp Ltd worth?
The market values Shanghai Yongguan Adhesive Products Corp Ltd at about 3.5B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥14.58; our models calculate a fair value of ¥8.87 per share.
What do the bullish and bearish scenarios say about 603681?
Our models span a range for Shanghai Yongguan Adhesive Products Corp Ltd: cautious scenario ¥7.64, base ¥8.87, optimistic ¥11.08 per share (as of Nov 7, 2026, price ¥14.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603681?
Shanghai Yongguan Adhesive Products Corp Ltd trades at a price-to-earnings ratio of 17.6 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥8.87 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 26.8. Other multiples: P/B 1.3, P/S 0.5, EV/EBITDA 9.5.
How solid is the balance sheet of Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Balance-sheet figures for Shanghai Yongguan Adhesive Products Corp Ltd (as of Nov 7, 2026): return on equity 6.1%, debt of 0.51 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 603681 from its 52-week high?
Shanghai Yongguan Adhesive Products Corp Ltd trades at ¥14.58, about 47% below its 52-week high of ¥27.39 and 2% above the low of ¥14.32 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥8.87 is for.
Which stocks are comparable to Shanghai Yongguan Adhesive Products Corp Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Shanghai Yongguan Adhesive Products Corp Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price ¥14.58, calculated fair value ¥8.87 (−39%), Quality Score 52/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 603681 calculated?
We run Shanghai Yongguan Adhesive Products Corp Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥8.87 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Shanghai Yongguan Adhesive Products Corp 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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The closing price on Nov 6, 2026 was ¥14.58. Our model-based fair value is ¥8.87, about 39% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai Yongguan Adhesive Products Corp Ltd right now?
The price sits above even our optimistic bull case (¥11.08). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Shanghai Yongguan Adhesive Products Corp Ltd (603681) come from?
Earnings per share at Shanghai Yongguan Adhesive Products Corp Ltd grew +3.3 % a year from 2013 to 2024. Broken into its drivers: revenue per share +16.3 %, EBIT margin −11.3 %, tax rate +1.4 %, residual (interest, one-offs) −1.2 %. 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 Shanghai Yongguan Adhesive Products Corp Ltd
How large is the market capitalisation of Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The market capitalisation of Shanghai Yongguan Adhesive Products Corp Ltd is 3.5B CNY (≈ $519M). 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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The price-to-sales ratio of Shanghai Yongguan Adhesive Products Corp Ltd is 0.49 (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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Earnings per share at Shanghai Yongguan Adhesive Products Corp Ltd are ¥0.8300 (price ÷ EPS = P/E 17.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The dividend yield of Shanghai Yongguan Adhesive Products Corp Ltd is 0.7% (payout 12.0%). 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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The net margin of Shanghai Yongguan Adhesive Products Corp Ltd is 2.6% (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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The return on equity (ROE) of Shanghai Yongguan Adhesive Products Corp Ltd is 6.1% (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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
On an EBIT basis the return on assets of Shanghai Yongguan Adhesive Products Corp Ltd is 3.2% (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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
The operating margin of Shanghai Yongguan Adhesive Products Corp Ltd is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Revenue at Shanghai Yongguan Adhesive Products Corp Ltd is growing +15.6% versus a year earlier (3y avg +10.0%). 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 Shanghai Yongguan Adhesive Products Corp Ltd (603681)?
Earnings per share at Shanghai Yongguan Adhesive Products Corp Ltd are growing +149% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shanghai Yongguan Adhesive Products Corp Ltd (603681) generate?
The free cash flow of Shanghai Yongguan Adhesive Products Corp Ltd is −129M 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 debt does Shanghai Yongguan Adhesive Products Corp Ltd (603681) carry?
The net debt of Shanghai Yongguan Adhesive Products Corp Ltd is 1.8B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 7, 2026