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Jiangsu Dingsheng New Materials Joint-Stock Co (603876) Fair Value & Analysis

Basic Materials · CN · Market cap 24.6B CNY

JD Jiangsu Dingsheng New Materials Joint-Stock Co 603876 · SHG
Price¥21.39
Fair Value¥9.38
Upside-56.2%
Quality55/100
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Healthy Growth
Thin margins · 2.3% net margin
Low debt · generates free cash flow
0.64% dividend yield
Trails peers (3/14)
Narrow moat 31/100
Evidence: High Range ¥7.04 – ¥11.73 Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from ¥11.91 to ¥9.38 (−21.2%) since Jun 24, 2026. Share price −5.7% over the past month.

A solid business, but screening 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥11.73). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥38.03 ¥5.77 Fair Value ¥9.38 Feb 2021 Aug 2026

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 ¥5.77 – ¥38.03 · fair‑value band ¥7.04 – ¥11.73 · the ¥21.39 price screens above the ¥9.38 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Jiangsu Dingsheng New Materials Joint-Stock Co (603876) currently trades at ¥21.39, while our model-based Fair Value estimate is ¥9.38, implying the stock looks roughly 56.2% overvalued today. The Quality Score stands at 55/100 (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: high).

Over the trailing twelve months, Jiangsu Dingsheng New Materials Joint-Stock Co generated revenue of 27.1B CNY at a net margin of 2.3%. Revenue grew 12.5% year over year. It earns a return on equity of 8.5%. Net debt stands at 965M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥7.04 (bear case) to ¥11.73 (bull case); at ¥21.39, 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 36% below its 52-week high and 151% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 19% fair-value upside, at -56%, 603876 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥13.83 ¥22.81 ¥38.40 80
Residual Income ¥6.57 ¥6.91 ¥7.32 76
Rev-Margin DCF ¥12.41 ¥19.82 ¥29.65 74
All 26 models by family
DCF Models
FCF DCF ¥13.99 ¥23.99 ¥41.97 38
Owner Earnings ¥13.39 ¥22.86 ¥39.88 31
5Y Revenue Exit ¥12.41 ¥20.04 ¥30.53 39
5Y EBITDA Exit ¥14.67 ¥24.82 ¥37.79 41
5Y P/E Exit ¥10.70 ¥16.43 ¥23.02 38
10Y Revenue Exit ¥12.52 ¥20.04 ¥31.88 36
10Y EBITDA Exit ¥14.36 ¥23.60 ¥38.10 37
10Y P/E Exit ¥11.70 ¥17.36 ¥25.44 35
Earnings-Based
Graham-Dodd ¥3.75 ¥18.88 ¥26.06 54
Lynch FV ¥5.12 ¥7.31 ¥9.50 50
PEG = 1.0 ¥5.12 ¥7.31 ¥9.50 46
EPV ¥11.18 ¥12.60 ¥13.85 59
Dividend Discount
Gordon GGM ¥2.80 ¥5.83 ¥9.25 70
DDM Multi-Stage ¥2.80 ¥4.92 ¥6.12 61
Multiples
P/E Multiple ¥7.04 ¥9.38 ¥11.73 63
P/S Multiple ¥7.04 ¥9.38 ¥11.73 58
P/B Multiple ¥7.04 ¥9.38 ¥11.73 55
EV/EBIT ¥13.10 ¥16.58 ¥20.07 53
EV/EBITDA ¥15.90 ¥20.31 ¥24.73 54
EV/Revenue ¥11.70 ¥15.59 ¥19.47 43
Asset-Based
NCAV (Graham) ¥4.05 ¥5.42 ¥8.10 50
Growth DCF
Growth DCF ¥13.83 ¥22.81 ¥38.40 80
Rev-Margin DCF ¥12.41 ¥19.82 ¥29.65 74
Economic Profit
Residual Income ¥6.57 ¥6.91 ¥7.32 76
ROIC Compounder ¥12.39 ¥16.14 ¥21.26 72
Growth Earnings
Growth-Adj P/E ¥7.01 ¥10.01 ¥13.01 68

Widest divergence: DCF Models (¥20.04) versus Dividend Discount (¥4.92). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 27.1B CNY
Revenue growth (YoY) +12.5%
Net margin 2.3%
Return on equity 8.5%
Free cash flow 791M CNY FY2025
P/E ratio 39.6
More key figures
Operating margin 5.1%
EPS (TTM) ¥0.6700
Dividend yield 0.6%
EPS growth (YoY) +110%
Net debt 965M CNY FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 54 · Market factors (momentum, volatility) 66

Profitability 37
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 54
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.

About the company

Jiangsu Dingsheng New Materials Joint-Stock Co.,Ltd engages in research and development, production, and sale of aluminum plates and foils.

Full company description

Jiangsu Dingsheng New Materials Joint-Stock Co.,Ltd engages in research and development, production, and sale of aluminum plates and foils. Its products portfolio includes aluminum and aluminum alloy plates, belts, sheets, and coating materials, as well as processed products comprising aluminum oxide plates, cable foils, air-conditioner foils, decorative building material aluminum foils, air conditioner refrigerator evaporators, condensers, container foils, single and double zero foils, aluminium matrix composite, battery foil, and others. The company also offers PS version aluminium strips for computers, container foils, single foils, double zero foils, aluminum matrix composite products, battery foils, air conditioning foils, and aluminum sheets and strips. It serves green packaging, household appliances, lithium batteries, transportation, architectural decoration, automotive, and other fields. The company was formerly known as Zhenjiang Dingsheng Aluminum Industry Co., Ltd. Jiangsu Dingsheng New Materials Joint-Stock Co.,Ltd was founded in 2003 and is based in Zhenjiang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Dingsheng New Materials Joint-Stock Co reported revenue of ¥26.3B in FY2025 versus ¥18.2B in FY2021, a compound +9.7%/yr. Reported net income was ¥513M in FY2025, compounding +4.5%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
26.3B CNY
Latest YoY
+9.5%
Avg. growth/yr (3Y)
+6.8%
Avg. growth/yr (5Y)
+16.2%
Avg. growth/yr (11Y)
+13.3%
Revenue +9.7%/yr
FY21 ¥18.2B
FY22 ¥21.6B
FY23 ¥19.1B
FY24 ¥24.0B
FY25 ¥26.3B
Net income +4.5%/yr
FY21 ¥430M
FY22 ¥1.4B
FY23 ¥535M
FY24 ¥301M
FY25 ¥513M

603876 screens 56% overvalued. Compare with Shandong Hongqiao Aluminum Industry Holding →

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Cite: Fair Value Calculator (2026). "Jiangsu Dingsheng New Materials Joint-Stock Co Fair Value". https://www.fairvalue-calculator.com/stock/603876

Peer Group

Aluminum · 83 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 55 · Above median
Fair Value upside −56% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 3% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Aluminum median · lower = cheaper

P/E (TTM) 39.6× · Pricier than 75% of peers
P/B 3.28× · Pricier than 75% of peers
P/S (TTM) 0.91× · Pricier than median
P/FCF 4.6× · Pricier than median
EV/EBITDA 12.5× · Pricier than 75% of peers

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 · sector 15
FUTURE 63 · sector 26
PAST 34 · sector 30
HEALTH 84 · sector 91
DIVIDEND 13 · sector 33

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aluminum stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Shandong Hongqiao Aluminum Industry Holding 002379 ¥18.54 ¥26.70 +44%
China Hongqiao Group 1378 HK$24.54 HK$45.53 +86%
Hindalco Industries Limited HINDALCO ₹955.80 ₹1,026 +7%
Aluminum Corporation 601600 ¥8.11 ¥12.58 +55%
Norsk Hydro ASA NHY kr 84.96 kr 58.10 -32%
Press Metal Aluminium Holdings 8869 8.02 MYR 3.88 MYR -52%
Alcoa Corporation AAI A$70.60 A$49.53 -30%
Yunnan Aluminium Co 000807 ¥25.12 ¥29.68 +18%
Henan Shenhuo Coal Industry and Electricity Power Co 000933 ¥25.51 ¥30.28 +19%
Tianshan Aluminum Group 002532 ¥11.99 ¥21.86 +82%

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Frequently asked questions

Is Jiangsu Dingsheng New Materials Joint-Stock Co (603876) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥9.38 versus a price of ¥21.39, about −56% (overvalued).
What is the fair value of 603876?
Our model-based fair value for Jiangsu Dingsheng New Materials Joint-Stock Co is ¥9.38 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥21.39.
What is the quality score of 603876?
Jiangsu Dingsheng New Materials Joint-Stock Co has a Quality Score of 55/100. 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 Dingsheng New Materials Joint-Stock Co (603876)?
Jiangsu Dingsheng New Materials Joint-Stock Co reported trailing-twelve-month revenue of about 27.1B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603876?
The net profit margin of Jiangsu Dingsheng New Materials Joint-Stock Co is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Dingsheng New Materials Joint-Stock Co pay a dividend?
Jiangsu Dingsheng New Materials Joint-Stock Co currently shows a dividend yield of about 0.64% relative to its recent price (as of Jul 11, 2026).

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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