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Jiangsu Lopal Tech Co Ltd (603906) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Jiangsu Lopal Tech Co Ltd ¥11.29, price ¥18.02, upside -37.4%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Energy · CN · ISIN CNE100002Y09

JL Some data Sep 24, 2026

Jiangsu Lopal Tech Co Ltd

603906 · SHG

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥11.29 · Strongly overvalued (−37%)
!Quality 29/100
!Weak Growth (revenue 5y +36.1 %/yr)
!Thin margins · 0.6% net margin (TTM)
!Moderate debt · negative free cash flow
!Trails peers (2/13)
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 out of 100
!Weak on dividend: 28 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

¥70.10 ¥6.37 Fair Value ¥11.29 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥6.37 – ¥70.10 · fair‑value band ¥10.01 – ¥12.41 · the ¥18.02 price screens above the ¥11.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Jiangsu Lopal Tech. Group Co., Ltd. engages in the research and development, production, and sale of lithium iron phosphate cathode materials and environmental protection fine chemicals for vehicles in China and internationally.

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Jiangsu Lopal Tech. Group Co., Ltd. engages in the research and development, production, and sale of lithium iron phosphate cathode materials and environmental protection fine chemicals for vehicles in China and internationally. The company provides automotive lubricants, grease, coolants, brake fluids, chemicals, industrial lubricating grease, automotive maintenance products, lithium battery materials, hydrogen energy, and plastic new materials. It provides its products under the Longpan brand name. The company was formerly known as Jiangsu Lopal Tech. Co., Ltd. and changed its name to Jiangsu Lopal Tech. Group Co., Ltd. in August 2025. Jiangsu Lopal Tech. Group Co., Ltd. was founded in 2003 and is based in Nanjing, China.

Stock analysis

Jiangsu Lopal Tech Co Ltd (603906) currently trades at ¥18.02, while our model-based Fair Value estimate is ¥11.29, implying the stock looks roughly 59.6% overvalued today.

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Valuation

Bull case: the Economic Profit group reads highest at a median of ¥9.74 per share, and 1 of the 8 models we run sit above the ¥18.02 price.

Bear case: the Asset-Based group reads lowest at ¥2.89, and 7 of the 8 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥10.01 (bear) to ¥12.41 (bull), the price of ¥18.02 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 29/100 (below-average quality), in the Energy sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Jiangsu Lopal Tech Co Ltd reported revenue of 8.9B CNY in FY2025 versus 4.1B CNY in FY2021, a compound +21.9%/yr. Reported net income was −173M CNY in FY2025.

Key figures

Market cap 15.4B CNY (≈ $2.3B) · P/E ratio 277.9 · P/S ratio 1.42 · EPS (TTM) ¥0.0700 · Dividend yield 1.4% · Net margin −1.9% · Return on equity 4.4% · Return on assets (EBIT) 0.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 46% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −61% fair-value upside, at −37%, 603906 screens cheaper than that median.

Fair Value models

Bear ¥10.01 Fair Value ¥11.29 Bull ¥12.41
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0512 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. Evidence ⓘEvidence = 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.
Highest evidence
EPV ¥5.79 ¥6.51 ¥7.13 74
ROIC Compounder ¥7.08 ¥9.74 ¥11.65 72
DDM Multi-Stage ¥3.04 ¥5.32 ¥6.62 67
All 8 models by family
Earnings-Based
EPV ¥5.79 ¥6.51 ¥7.13 74
Dividend Discount
Gordon GGM ¥3.04 ¥6.31 ¥10.01 66
DDM Multi-Stage ¥3.04 ¥5.32 ¥6.62 67
Multiples
EV/EBIT ¥7.45 ¥9.42 ¥11.40 66
EV/EBITDA ¥14.45 ¥18.77 ¥23.08 67
EV/Revenue ¥6.66 ¥8.86 ¥11.06 54
Asset-Based
NCAV (Graham) ¥2.16 ¥2.89 ¥4.31 54
Economic Profit
ROIC Compounder ¥7.08 ¥9.74 ¥11.65 72

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Quality Score breakdown

Overall quality 29/100

Of which business quality 27 · Market factors (momentum, volatility) 37

Profitability 13
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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
+16.5%
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.
−14.0%
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.
+36.1%
Start year 2020 (pandemic). Over 10 years: +27.0% 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.
+23.5%
Profit margin (trend) ⓘ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.
14.2% (2020) → 4.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

603906 screens 60% overvalued. Compare with Reliance Industries Limited →

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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.Oil & Gas Refining & Marketing · 108 stocks

Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −38% · Below median
Profitability
Return on equity (TTM) 4% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 10% · Above median
Growth and dividend
Revenue growth 120% · Top 25%
Dividend yield (TTM) 1.4% · Below median
Balance sheet
Debt / equity 0.99× · Highest 25%

Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 277.9× · Priciest 25%
P/B 5.44× · Priciest 25%
P/S (TTM) 1.42× · Priciest 25%
EV/EBITDA 12.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 15
FUTURE (revenue growth)100 · sector 14
PAST (return on equity)18 · sector 34
HEALTH (low debt)51 · sector 81
DIVIDEND (yield)28 · sector 51

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

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Jiangsu Lopal Tech Co Ltd · Fair Value
¥11.29 −60%Fair Value
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Cite: Fair Value Calculator (2026). "Jiangsu Lopal Tech Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603906

Frequently asked questions

Is Jiangsu Lopal Tech Co Ltd (603906) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥11.29 versus a price of ¥18.02, about −37% upside (overvalued).
What is the fair value of 603906?
Our model-based fair value for Jiangsu Lopal Tech Co Ltd is ¥11.29 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥18.02.
What is the quality score of 603906?
Jiangsu Lopal Tech Co Ltd has a Quality Score of 29/100. 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 Lopal Tech Co Ltd (603906)?
Our model-based price target is the fair value of ¥11.29 (as of Sep 24, 2026) from 8 valuation models. Cautious scenario ¥10.01, optimistic scenario ¥12.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Jiangsu Lopal Tech Co Ltd stock forecast for 2026?
Our models put fair value at ¥11.29, about −37% upside versus a price of ¥18.02 (overvalued). Cautious scenario ¥10.01, optimistic scenario ¥12.41. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangsu Lopal Tech Co Ltd (603906)?
Jiangsu Lopal Tech Co Ltd reported trailing-twelve-month revenue of about 10.8B CNY (latest available figure, as of Sep 24, 2026).
Does Jiangsu Lopal Tech Co Ltd pay a dividend?
Jiangsu Lopal Tech Co Ltd currently shows a dividend yield of about 1.41% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Jiangsu Lopal Tech Co Ltd (603906)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangsu Lopal Tech Co Ltd it is ¥11.29 per share (as of Sep 24, 2026), against a price of ¥18.02. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Jiangsu Lopal Tech Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 603906 trades above its calculated fair value: price ¥18.02, fair value ¥11.29, a gap of about −37% (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 603906?
No. The price is what the market pays today (¥18.02); the fair value is what the company's own numbers justify (¥11.29). For Jiangsu Lopal Tech Co Ltd the two are ¥6.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangsu Lopal Tech Co Ltd worth?
The market values Jiangsu Lopal Tech Co Ltd at about 15.4B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥18.02; our models calculate a fair value of ¥11.29 per share.
What do the bullish and bearish scenarios say about 603906?
Our models span a range for Jiangsu Lopal Tech Co Ltd: cautious scenario ¥10.01, base ¥11.29, optimistic ¥12.41 per share (as of Sep 24, 2026, price ¥18.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603906?
Jiangsu Lopal Tech Co Ltd trades at a price-to-earnings ratio of 277.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥11.29 is built from several models across several years. Other multiples: P/B 5.4, P/S 1.4, EV/EBITDA 12.6.
How solid is the balance sheet of Jiangsu Lopal Tech Co Ltd (603906)?
Balance-sheet figures for Jiangsu Lopal Tech Co Ltd (as of Sep 24, 2026): return on equity 4.4%, debt of 0.99 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is 603906 from its 52-week high?
Jiangsu Lopal Tech Co Ltd trades at ¥18.02, about 46% below its 52-week high of ¥33.60 and 18% above the low of ¥15.32 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥11.29 is for.
Which stocks are comparable to Jiangsu Lopal Tech Co Ltd?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Marathon Petroleum Corporation, Phillips 66, 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 Lopal Tech Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥18.02, calculated fair value ¥11.29 (−37%), Quality Score 29/100, from 8 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 603906 calculated?
We run Jiangsu Lopal Tech Co Ltd through 8 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 ¥11.29, 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 14.1 % above its aggregate fair value. Jiangsu Lopal Tech 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 Lopal Tech Co Ltd (603906)?
The closing price on Sep 23, 2026 was ¥18.02. Our model-based fair value is ¥11.29, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jiangsu Lopal Tech Co Ltd right now?
The price sits above even our optimistic bull case (¥12.41). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Jiangsu Lopal Tech Co Ltd

How large is the market capitalisation of Jiangsu Lopal Tech Co Ltd (603906)?
The market capitalisation of Jiangsu Lopal Tech Co Ltd is 15.4B CNY (≈ $2.3B). 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 Lopal Tech Co Ltd (603906)?
The price-to-sales ratio of Jiangsu Lopal Tech Co Ltd is 1.42 (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 Lopal Tech Co Ltd (603906)?
Earnings per share at Jiangsu Lopal Tech Co Ltd are ¥0.0700 (price ÷ EPS = P/E 277.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jiangsu Lopal Tech Co Ltd (603906)?
The dividend yield of Jiangsu Lopal Tech Co Ltd is 1.4%. 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 Lopal Tech Co Ltd (603906)?
The net margin of Jiangsu Lopal Tech Co Ltd is −1.9% (fiscal year 2025). 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 Lopal Tech Co Ltd (603906)?
The return on equity (ROE) of Jiangsu Lopal Tech Co Ltd is 4.4% (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 Lopal Tech Co Ltd (603906)?
On an EBIT basis the return on assets of Jiangsu Lopal Tech Co Ltd is 0.6% (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 Lopal Tech Co Ltd (603906)?
The operating margin of Jiangsu Lopal Tech Co Ltd is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jiangsu Lopal Tech Co Ltd (603906)?
Revenue at Jiangsu Lopal Tech Co Ltd is growing +120% versus a year earlier (3y avg −14.0%). 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 Jiangsu Lopal Tech Co Ltd (603906)?
Earnings per share at Jiangsu Lopal Tech Co Ltd are growing +408% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jiangsu Lopal Tech Co Ltd (603906) generate?
The free cash flow of Jiangsu Lopal Tech Co Ltd is −572M 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 Jiangsu Lopal Tech Co Ltd (603906) carry?
The net debt of Jiangsu Lopal Tech Co Ltd is 3.1B 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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