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JST Group Corp Ltd (6687) Fair Value & Analysis

Technology · HK · Market cap HK$5.7B

JG JST Group Corp Ltd 6687 · HK
PriceHK$13.89
Fair ValueHK$11.61
Upside-16.4%
Quality61/100
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Mixed Growth
Loss-making · -144.9% net margin
Low debt · generates free cash flow
Ranks above peers (9/11)
Narrow moat 25/100
Evidence: Medium Range HK$10.80 – HK$12.42 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$11.60 to HK$11.61 (+0.1%) since Aug 6, 2026. Share price +5.2% over the past month.

A solid business, but screening 16% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (HK$12.42). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (HK$10.80 to HK$12.42), unusually little disagreement for a valuation.
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Price vs Fair Value (10 months)

HK$37.90 HK$12.40 Fair Value HK$11.61 Oct 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

10‑month range HK$12.40 – HK$37.90 · fair‑value band HK$10.80 – HK$12.42 · the HK$13.89 price screens above the HK$11.61 fair value. As of Aug 13, 2026.

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Analysis

JST Group Corp Ltd (6687) currently trades at HK$13.89, while our model-based Fair Value estimate is HK$11.61, implying the stock looks roughly 16.4% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Technology 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).

Trailing-twelve-month revenue stands at HK$1.1B. Revenue grew 26.6% year over year. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$10.80 (bear case) to HK$12.42 (bull case); at HK$13.89, 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 67% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at -16%, 6687 screens cheaper 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 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
Highest evidence
Growth DCF HK$21.42 HK$32.75 HK$54.94 80
Rev-Margin DCF HK$12.49 HK$15.09 HK$20.02 74
ROIC Compounder HK$8.08 HK$8.22 HK$8.34 72
All 13 models by family
DCF Models
FCF DCF HK$22.34 HK$30.50 HK$55.96 38
5Y Revenue Exit HK$12.41 HK$14.07 HK$17.37 39
5Y EBITDA Exit HK$13.07 HK$15.41 HK$19.91 41
10Y Revenue Exit HK$15.43 HK$20.33 HK$21.91 36
10Y EBITDA Exit HK$15.95 HK$21.72 HK$30.19 37
Earnings-Based
EPV HK$8.08 HK$8.22 HK$8.34 59
Multiples
EV/EBIT HK$9.40 HK$10.13 HK$10.86 53
EV/EBITDA HK$9.29 HK$9.98 HK$10.68 54
EV/Revenue HK$8.31 HK$8.79 HK$9.26 43
Asset-Based
NCAV (Graham) HK$1.45 HK$1.94 HK$2.89 50
Growth DCF
Growth DCF HK$21.42 HK$32.75 HK$54.94 80
Rev-Margin DCF HK$12.49 HK$15.09 HK$20.02 74
Economic Profit
ROIC Compounder HK$8.08 HK$8.22 HK$8.34 72

Widest divergence: DCF Models (HK$20.33) versus Asset-Based (HK$1.94). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.1B
Revenue growth (YoY) +26.6%
Net margin -145%
Free cash flow HK$403M FY2025
Operating margin 10.4%
EPS (TTM) HK$-23.09

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 62 · Market factors (momentum, volatility) 12

Profitability 9
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 56
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

JST Group Corporation Limited, together with its subsidiaries, provides e-commerce Software as a Service (SaaS) in China.

Full company description

JST Group Corporation Limited, together with its subsidiaries, provides e-commerce Software as a Service (SaaS) in China. The company offers Jushuitan SaaS ERP, such as order management system, warehouse management system, supply chain management, and distribution management; Shengtu, a cross-border e-commerce financial management system; and e-commerce after-sales work order system. It also provides Juhuotong, a digital supply and procurement collaboration platform; data intelligence solutions, including business analysis, risk warning, and team collaboration; Jushengsuan for business analysis; e-commerce accounting systems; and Juhe Account for financial compliance. In addition, the company offers scenario solutions comprising cross-border e-commerce, third-party cloud warehouse, live and brand e-commerce, and omnichannel distribution. JST Group Corporation Limited was founded in 2014 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

JST Group Corp Ltd reported revenue of HK$1.1B in FY2025 versus HK$697M in FY2023, a compound +28.0%/yr. Reported net income was −HK$1.7B in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.1B
Latest YoY
+25.6%
Revenue +28.0%/yr
FY23 HK$697M
FY24 HK$910M
FY25 HK$1.1B
Net income
FY23 −HK$487M
FY24 HK$12.2M
FY25 −HK$1.7B

6687 screens 16% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "JST Group Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6687

Peer Group

Software - Application · 718 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 61 · Above median
Fair Value upside −16% · Above median
Return on assets 2% · Above median
Net margin (TTM) -145% · Bottom 25%
Operating margin (TTM) 10% · Above median
Revenue growth 27% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 0.59× · Cheaper than 75% of peers
P/S (TTM) 0.64× · Cheaper than 75% of peers
P/FCF 1.8× · Cheaper 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 11 · sector 2
FUTURE 100 · sector 38
PAST 0 · sector 13
HEALTH 100 · sector 98
DIVIDEND 0 · sector 34

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.46 C$16.26 +30%
Shopify Inc SHOP C$209.78 C$28.76 -86%
Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is JST Group Corp Ltd (6687) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$11.61 versus a price of HK$13.89, about −16% (overvalued).
What is the fair value of 6687?
Our model-based fair value for JST Group Corp Ltd is HK$11.61 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$13.89.
What is the quality score of 6687?
JST Group Corp Ltd has a Quality Score of 61/100. 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 JST Group Corp Ltd (6687)?
JST Group Corp Ltd reported trailing-twelve-month revenue of about HK$1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6687?
The net profit margin of JST Group Corp Ltd is about -144.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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