Beijing Bayi Space LCD Technology Co (688181) Fair Value & Analysis

Technology · CN · Market cap 5.9B CNY

Below-average quality, and screening another 71% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥14.53). The favourable scenario is already priced in.
• Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

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

60‑month range ¥15.07 – ¥57.40 · fair‑value band ¥8.39 – ¥14.53 · the ¥40.00 price screens above the ¥11.74 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Beijing Bayi Space LCD Technology Co (688181) currently trades at ¥40.00, while our model-based Fair Value estimate is ¥11.74, implying the stock looks roughly 70.7% overvalued today. The Quality Score stands at 39/100 (below-average 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: high).

Over the trailing twelve months, Beijing Bayi Space LCD Technology Co generated revenue of 899M CNY at a net margin of 9.1%. Revenue grew 14.3% year over year. It earns a return on equity of 3.7%. Net debt stands at 412M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥8.39 (bear case) to ¥14.53 (bull case); at ¥40.00, 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 18% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -71%, 688181 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.

Widest divergence: Multiples (¥11.33) versus Dividend Discount (¥1.73). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Beijing Bayi Space LCD Technology Co.,Ltd. researches, develops, produces, and sells display materials in China. It also offers semiconductor and pharmaceutical materials.

Full company description

Beijing Bayi Space LCD Technology Co.,Ltd. researches, develops, produces, and sells display materials in China. It also offers semiconductor and pharmaceutical materials. The company also provides liquid crystal, polymer dispersed liquid crystal (PDLC) smart films, and organic electroluminescent materials (OLED); semiconductor materials includes photoresist resin materials and polyimide; and pharmaceutical materials, such as advanced pharmaceutical intermediates and APIs, as well as offers liquid crystal materials. In addition, it offers mixed liquid crystal; monomer liquid crystals, including ester liquid, flaming LCD, alkene liquid, negative liquid, fluorine-containing liquids, phenylcyclohexane liquids, chiral liquid, difluoromethoxy liquids, biphenyl liquid, acrylic liquids, bicyclohexane liquids; and OLED and intermediate materials. Its products are used in various applications, including mobile phones, laptops, computer monitors, and televisions. The company is also involved in the exporting activities. Beijing Bayi Space LCD Technology Co., Ltd. was founded in 2004 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Bayi Space LCD Technology Co reported revenue of ¥868M in FY2025 versus ¥887M in FY2021, a compound −0.5%/yr. Reported net income was ¥81.1M in FY2025, compounding −20.9%/yr from FY2021.

688181 screens 71% overvalued. Compare with Delta Electronics, Inc →

Peer Group

Electronic Components · 626 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 Electronic Components 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.

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Frequently asked questions

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.