Jiangsu Pacific Quartz Co Ltd (603688) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Jiangsu Pacific Quartz Co Ltd stock ¥7.42, price ¥34.72, upside -78.6%, quality 27 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value 30%+ above price?No
Quality 50+?No
In an uptrend?Yes
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 27, 2026.
How to read this chart
60‑month range ¥10.91 – ¥103.41 · fair‑value band ¥5.54 – ¥7.45 · the ¥34.72 price screens above the ¥7.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 27, 2026.
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Jiangsu Pacific Quartz Co., Ltd., together with its subsidiaries, engages in the research, development, manufacture, and sale of quartz materials in China and internationally.
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The company offers lighting products comprising specialty lamp quartz tubes and rods, auto lamp quartz tubes and rods, and infrared lamp quartz tubes; and optical fiber quartz cylinders, vessel tubes, quartz tubes, and quartz rods.
It also provides quartz tubes, rods, ingots, plates, and cylinders, as well as high-purity quartz sand, flame fused quartz ingots, composite types, opaque quartz, and black quartz materials for semiconductors; UV optical synthetic, standard optical, and infrared optical quartz materials; solar-grade quartz tubes, rods, ingots, and sand; and quartz ceramic round crucibles.
In addition, the company offers science and technology promotion and application services. Its products are used in the semiconductor, photovoltaic, optical fiber, optoelectronic, lighting, and other industries.
The company was formerly known as Donghai Pacific Quartz Products Co., Ltd. and changed its name to Jiangsu Pacific Quartz Co., Ltd. in 2010. Jiangsu Pacific Quartz Co., Ltd. was founded in 1992 and is based in Lianyungang, China.
Stock analysis
Jiangsu Pacific Quartz Co Ltd (603688) currently trades at ¥34.72, while our model-based Fair Value estimate is ¥7.42, 78.6% 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 ¥7.92 per share, and 1 of the 17 models we run sit above the ¥34.72 price.
Bear case: the Economic Profit group reads lowest at ¥1.66, and 16 of the 17 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥5.54 (bear) to ¥7.45 (bull), the price of ¥34.72 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 27/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Jiangsu Pacific Quartz Co Ltd reported revenue of 1.0B CNY in FY2025 versus 961M CNY in FY2021, a compound +1.1%/yr. Reported net income was 153M CNY in FY2025, compounding −14.1%/yr from FY2021.
Key figures
Market cap 18.7B CNY (≈ $2.8B) Mid · P/E ratio 133.5 · P/S ratio 18.0 · EPS (TTM) ¥0.2600 · Dividend yield 0.2% · Net margin 13.3% · Return on equity 2.3% · Return on assets (EBIT) 25.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 60% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −55% fair-value upside, at −79%, 603688 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥1.66 to ¥61.84). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear¥5.54Fair Value ¥7.42Bull¥7.45
Price ¥34.72 · Upside -78.6%
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 (¥0.1440 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−17.0%
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.
−20.6%
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.
+9.2%
Start year 2020 (pandemic). Over 10 years: +9.4% a year
Revenue growth 16 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.
+12.2%
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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.
−11.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.0%
Dividend (yield on the price)0.2%
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.−12.0% vs 1.7%, 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.33% → 10%
Compare Jiangsu Pacific Quartz Co 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 · 726 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score27 · Bottom 25%
Fair Value upside−78.6% · Bottom 25%
Profitability
Return on equity (12 months)2.3% · Below median
Return on assets2.5% · Below median
Net margin (12 months)13.3% · Top 25%
Operating margin (12 months)3.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)10.8% · Below median
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (12 months)133.5× · Priciest 25%
P/B3.22× · Priciest 25%
P/S (12 months)18.01× · Priciest 25%
EV/EBITDA75.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)54· sector 65
PAST (return on equity)9· sector 26
HEALTH (low debt)99· sector 95
DIVIDEND (yield)5· 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.
Cite: Fair Value Calculator (2026). "Jiangsu Pacific Quartz Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603688
Frequently asked questions
Is Jiangsu Pacific Quartz Co Ltd (603688) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of ¥7.42 versus a price of ¥34.72, about −79% upside (overvalued).
What is the fair value of 603688?
Our model-based fair value for Jiangsu Pacific Quartz Co Ltd is ¥7.42 (as of Oct 27, 2026), built from audited fundamentals. The current price: ¥34.72.
What is the quality score of 603688?
Jiangsu Pacific Quartz Co Ltd has a Quality Score of 27/100. 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 Jiangsu Pacific Quartz Co Ltd (603688)?
Our model-based price target is the fair value of ¥7.42 (as of Oct 27, 2026) from 17 valuation models. Cautious scenario ¥5.54, optimistic scenario ¥7.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Jiangsu Pacific Quartz Co Ltd stock forecast for 2026?
Our models put fair value at ¥7.42, about −79% upside versus a price of ¥34.72 (overvalued). Cautious scenario ¥5.54, optimistic scenario ¥7.45. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangsu Pacific Quartz Co Ltd (603688)?
Jiangsu Pacific Quartz Co Ltd reported trailing-twelve-month revenue of about 1.0B CNY (latest available figure, as of Oct 27, 2026).
Does Jiangsu Pacific Quartz Co Ltd pay a dividend?
Jiangsu Pacific Quartz Co Ltd currently shows a dividend yield of 0.25% relative to its recent price (as of Oct 27, 2026).
What is the intrinsic value of Jiangsu Pacific Quartz Co Ltd (603688)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangsu Pacific Quartz Co Ltd it is ¥7.42 per share (as of Oct 27, 2026), against a price of ¥34.72. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Jiangsu Pacific Quartz Co Ltd stock overvalued or undervalued in 2026?
As of Oct 27, 2026, 603688 trades above its calculated fair value: price ¥34.72, fair value ¥7.42, a gap of about −79% (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 603688?
No. The price is what the market pays today (¥34.72); the fair value is what the company's own numbers justify (¥7.42). For Jiangsu Pacific Quartz Co Ltd the two are ¥27.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangsu Pacific Quartz Co Ltd worth?
The market values Jiangsu Pacific Quartz Co Ltd at about 18.7B CNY (market capitalisation, as of Oct 27, 2026). Per share that is ¥34.72; our models calculate a fair value of ¥7.42 per share.
What do the bullish and bearish scenarios say about 603688?
Our models span a range for Jiangsu Pacific Quartz Co Ltd: cautious scenario ¥5.54, base ¥7.42, optimistic ¥7.45 per share (as of Oct 27, 2026, price ¥34.72). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603688?
Jiangsu Pacific Quartz Co Ltd trades at a price-to-earnings ratio of 133.5 (as of Oct 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥7.42 is built from several models across several years. Other multiples: P/B 3.2, P/S 18.0, EV/EBITDA 75.3.
How solid is the balance sheet of Jiangsu Pacific Quartz Co Ltd (603688)?
Balance-sheet figures for Jiangsu Pacific Quartz Co Ltd (as of Oct 27, 2026): return on equity 2.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is 603688 from its 52-week high?
Jiangsu Pacific Quartz Co Ltd trades at ¥34.72, about 60% below its 52-week high of ¥86.60 and 3% above the low of ¥33.80 (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of ¥7.42 is for.
Which stocks are comparable to Jiangsu Pacific Quartz Co Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Givaudan SA, 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 Jiangsu Pacific Quartz Co Ltd stock attractive at the current price?
The data as of Oct 27, 2026: price ¥34.72, calculated fair value ¥7.42 (−79%), Quality Score 27/100, from 17 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 603688 calculated?
We run Jiangsu Pacific Quartz Co Ltd through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥7.42, 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 13.4 % above its aggregate fair value. Jiangsu Pacific Quartz 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 Jiangsu Pacific Quartz Co Ltd (603688)?
The closing price on Oct 28, 2026 was ¥34.72. Our model-based fair value is ¥7.42, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jiangsu Pacific Quartz Co Ltd right now?
The price sits above even our optimistic bull case (¥7.45). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Jiangsu Pacific Quartz Co Ltd (603688) come from?
Earnings per share at Jiangsu Pacific Quartz Co Ltd grew +36.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +19.7 %, EBIT margin +14.5 %, tax rate +0.1 %, residual (interest, one-offs) −0.5 %. 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 Jiangsu Pacific Quartz Co Ltd
How large is the market capitalisation of Jiangsu Pacific Quartz Co Ltd (603688)?
The market capitalisation of Jiangsu Pacific Quartz Co Ltd is 18.7B CNY (≈ $2.8B). 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 Jiangsu Pacific Quartz Co Ltd (603688)?
The price-to-sales ratio of Jiangsu Pacific Quartz Co Ltd is 18.0 (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 Jiangsu Pacific Quartz Co Ltd (603688)?
Earnings per share at Jiangsu Pacific Quartz Co Ltd are ¥0.2600 (price ÷ EPS = P/E 133.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jiangsu Pacific Quartz Co Ltd (603688)?
The dividend yield of Jiangsu Pacific Quartz Co Ltd is 0.2% (payout 33.1%). 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 Jiangsu Pacific Quartz Co Ltd (603688)?
The net margin of Jiangsu Pacific Quartz Co Ltd is 13.3% (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 Jiangsu Pacific Quartz Co Ltd (603688)?
The return on equity (ROE) of Jiangsu Pacific Quartz Co Ltd is 2.3% (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 Jiangsu Pacific Quartz Co Ltd (603688)?
On an EBIT basis the return on assets of Jiangsu Pacific Quartz Co Ltd is 25.1% (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 Jiangsu Pacific Quartz Co Ltd (603688)?
The operating margin of Jiangsu Pacific Quartz Co Ltd is 3.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jiangsu Pacific Quartz Co Ltd (603688)?
Revenue at Jiangsu Pacific Quartz Co Ltd is growing +10.8% versus a year earlier (3y avg −20.6%). 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 Jiangsu Pacific Quartz Co Ltd (603688)?
Earnings per share at Jiangsu Pacific Quartz Co Ltd are growing −0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jiangsu Pacific Quartz Co Ltd (603688) generate?
The free cash flow of Jiangsu Pacific Quartz Co Ltd is −175M 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 Jiangsu Pacific Quartz Co Ltd (603688) hold?
Jiangsu Pacific Quartz Co Ltd holds more cash than debt, 170M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 27, 2026