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Shanghai Supezet Engineering Technology Corp (688121) Fair Value & Analysis

Industrials · CN · Market cap 1.5B CNY

SS Shanghai Supezet Engineering Technology Corp 688121 · SHG
Price¥2.14
Fair Value¥5.58
Upside+161.0%
Quality25/100
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Expensive Growth
Thin margins · 3.4% net margin
Moderate debt · negative free cash flow
Mixed vs. peers (5/12)
Narrow moat 43/100
Evidence: Medium Range ¥3.77 – ¥5.58 Share as image

Fair value as of: Jul 12, 2026

From 12 valuation models · updated 29 days ago

Share price −31.6% over the past month.

Below-average quality, screening 161% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (25/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (¥3.77). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥46.28 ¥2.12 Fair Value ¥5.58 Sep 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

59‑month range ¥2.12 – ¥46.28 · fair‑value band ¥3.77 – ¥5.58 · the ¥2.14 price screens below the ¥5.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Shanghai Supezet Engineering Technology Corp (688121) currently trades at ¥2.14, while our model-based Fair Value estimate is ¥5.58, implying the stock looks roughly 161.0% undervalued today. The Quality Score stands at 25/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Shanghai Supezet Engineering Technology Corp generated revenue of 2.2B CNY at a net margin of 3.4%. Revenue declined 32.2% year over year. It earns a return on equity of 2.7%. Net debt stands at 1.6B CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥3.77 (bear case) to ¥5.58 (bull case); at ¥2.14, the current price sits below 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. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 161%, 688121 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
Residual Income ¥2.62 ¥2.53 ¥2.00 76
Gordon GGM ¥1.24 ¥1.57 ¥1.88 70
Growth-Adj P/E ¥1.23 ¥1.75 ¥2.28 68
All 12 models by family
Earnings-Based
Graham-Dodd ¥0.7400 ¥1.37 ¥1.70 54
Dividend Discount
Gordon GGM ¥1.24 ¥1.57 ¥1.88 70
DDM Multi-Stage ¥1.24 ¥1.61 ¥2.00 61
Multiples
P/E Multiple ¥1.73 ¥2.30 ¥2.88 63
P/S Multiple ¥1.40 ¥1.86 ¥2.33 58
P/B Multiple ¥1.40 ¥1.86 ¥2.33 55
EV/EBIT ¥2.36 ¥3.70 ¥5.04 53
EV/EBITDA ¥2.99 ¥4.54 ¥6.09 54
EV/Revenue ¥1.21 ¥2.44 ¥3.67 43
Asset-Based
NCAV (Graham) ¥1.91 ¥2.55 ¥3.81 50
Economic Profit
Residual Income ¥2.62 ¥2.53 ¥2.00 76
Growth Earnings
Growth-Adj P/E ¥1.23 ¥1.75 ¥2.28 68

Widest divergence: Asset-Based (¥2.55) versus Earnings-Based (¥1.37). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.2B CNY
Revenue growth (YoY) -32.2%
Net margin 3.4%
Return on equity 2.7%
Free cash flow −429M CNY FY2024
P/E ratio 36.0
More key figures
Operating margin 39.9%
EPS (TTM) ¥0.1800
EPS growth (YoY) -85.3%
Net debt 1.6B CNY FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 25/100

Of which business quality 26 · Market factors (momentum, volatility) 17

Profitability 17
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 14
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

Shanghai Supezet Engineering Technology Corp., Ltd. engages in the design, manufacture, installation, and servicing of petrochemical equipment for the petrochemical, oil refining, and natural gas chemical industries in China and internationally.

Full company description

Shanghai Supezet Engineering Technology Corp., Ltd. engages in the design, manufacture, installation, and servicing of petrochemical equipment for the petrochemical, oil refining, and natural gas chemical industries in China and internationally. The company offers petrochemical and oil refining special equipment, engineering general contracting services, and other products and services. It also engages in project consulting management and leasing; intelligent heavy equipment manufacturing; design, manufacture, and installation of industrial furnace equipment, alloy furnace tubes, and finned tubes; sale and purchase of ethylene cracking furnace and other oil refining and chemical equipment and its accessories; marketing agency; enterprise management consulting; intelligent control system integration; port operations; engineering design; energy management; software and information base services; and technical services. The company exports its products. Shanghai Supezet Engineering Technology Corp., Ltd. was founded in 2002 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Supezet Engineering Technology Corp reported revenue of ¥2.2B in FY2025 versus ¥3.9B in FY2021, a compound −13.5%/yr. Reported net income was ¥73.1M in FY2025, compounding −30.6%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B CNY
Avg. growth/yr (3Y) 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.
−10.1%
Avg. growth/yr (5Y) 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.
+15.3%
Avg. growth/yr (7Y) 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.
+22.4%
Revenue −13.5%/yr
FY21 ¥3.9B
FY22 ¥2.9B
FY23 ¥3.0B
FY24 ¥2.8B
FY25 ¥2.2B
Net income −30.6%/yr
FY21 ¥315M
FY22 ¥190M
FY23 ¥154M
FY24 ¥94.8M
FY25 ¥73.1M

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Cite: Fair Value Calculator (2026). "Shanghai Supezet Engineering Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/688121

Peer Group

Specialty Industrial Machinery · 808 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 25 · Bottom 25%
Fair Value upside +161% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 40% · Top 25%
Revenue growth -32% · Bottom 25%
Debt / equity 0.61× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 36.0× · Pricier than median
P/B 0.60× · Cheaper than 75% of peers
P/S (TTM) 0.69× · Cheaper than 75% of peers
EV/EBITDA 9.0× · 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 100 · sector 0
FUTURE 0 · sector 23
PAST 11 · sector 28
HEALTH 69 · sector 96
DIVIDEND 0 · sector 24

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.

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Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
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Frequently asked questions

Is Shanghai Supezet Engineering Technology Corp (688121) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥5.58 versus a price of ¥2.14, about +161% (undervalued).
What is the fair value of 688121?
Our model-based fair value for Shanghai Supezet Engineering Technology Corp is ¥5.58 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥2.14.
What is the quality score of 688121?
Shanghai Supezet Engineering Technology Corp has a Quality Score of 25/100. 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 Shanghai Supezet Engineering Technology Corp (688121)?
Shanghai Supezet Engineering Technology Corp reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688121?
The net profit margin of Shanghai Supezet Engineering Technology Corp is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. 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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