Qingdao Copton Technology Company (603798) Fair Value & Analysis
Basic Materials · CN · Market cap 4.1B CNY
Fair value as of: Jul 11, 2026
From 24 valuation models · updated 30 days ago
Fair value updated Jul 11, 2026, revised from ¥4.08 to ¥4.22 (+3.5%) since Jun 24, 2026. Share price −1.4% over the past month.
A solid business, but screening 69% overvalued on our models.
What matters now
- A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (¥5.28). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range ¥6.10 – ¥19.32 · fair‑value band ¥3.17 – ¥5.28 · the ¥13.70 price screens above the ¥4.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Qingdao Copton Technology Company (603798) currently trades at ¥13.70, while our model-based Fair Value estimate is ¥4.22, implying the stock looks roughly 69.2% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Basic Materials 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: medium).
Over the trailing twelve months, Qingdao Copton Technology Company generated revenue of 903M CNY at a net margin of 4.8%. Revenue declined 13.3% year over year. It earns a return on equity of 3.7%. The balance sheet holds a net cash position of 319M CNY. Fundamentals as of Jul 11, 2026
Our scenario range runs from ¥3.17 (bear case) to ¥5.28 (bull case); at ¥13.70, 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 33% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -69%, 603798 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 24 models by family
Widest divergence: DCF Models (¥5.79) versus Dividend Discount (¥1.09). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 43
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
Qingdao Copton Technology Company Limited, together with its subsidiaries, provides lubricating oil and automotive maintenance products in China. The company offers lubricating oil for passenger and commercial vehicles, motorcycles, construction machinery, marine, and agriculture equipment.
Full company description
Qingdao Copton Technology Company Limited, together with its subsidiaries, provides lubricating oil and automotive maintenance products in China. The company offers lubricating oil for passenger and commercial vehicles, motorcycles, construction machinery, marine, and agriculture equipment. It also provides lubricating grease, antifreeze, urea for vehicles, brake fluid, and other products. The company sells its products under the COPTON and Roab brand names. Its products are used in mining, metals manufacturing, power generation, paper, chemicals, and cement industries. The company was founded in 1989 and is based in Qingdao, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Qingdao Copton Technology Company reported revenue of ¥951M in FY2025 versus ¥1.1B in FY2021, a compound −3.7%/yr. Reported net income was ¥51.0M in FY2025, compounding −16.6%/yr from FY2021.
603798 screens 69% overvalued. Compare with Linde plc →
Peer Group
Specialty Chemicals · 676 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 Specialty Chemicals 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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $489.98 | $222.03 | -55% |
| Nan Ya Plastics Corporation 1303 | 181.50 TWD | 255.83 TWD | +41% |
| Wanhua Chemical Group 600309 | ¥70.04 | ¥68.03 | -3% |
| Novozymes A/S NSISB | kr 428.20 | kr 179.66 | -58% |
| Asian Paints Limited ASIANPAINT | ₹2,689 | ₹668.81 | -75% |
| Solar Industries India Limited SOLARINDS | ₹18,236 | ₹2,793 | -85% |
| Pidilite Industries Limited PIDILITIND | ₹1,560 | ₹351.84 | -77% |
| PT Chandra Asri Pacific Tbk TPIA | 1,805 IDR | 2,888 IDR | +60% |
| Linde India Limited LINDEINDIA | ₹7,115 | ₹757.93 | -89% |
| Berger Paints India Limited BERGEPAINT | ₹493.70 | ₹164.29 | -67% |
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Frequently asked questions
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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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