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Shengyi Electronics Co (688183) Fair Value & Analysis

Technology · CN · Market cap 100B CNY

SE Shengyi Electronics Co 688183 · SHG
Price¥108.20
Fair Value¥32.70
Upside-69.8%
Quality61/100
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Expensive Growth
Solidly profitable · 16.6% net margin
Low debt · negative free cash flow
0.71% dividend yield
Mixed vs. peers (7/13)
Wide moat 77/100
Evidence: High Range ¥24.19 – ¥89.09 Share as image

Fair value as of: Jul 17, 2026

From 17 valuation models · updated 21 days ago

Fair value updated Jul 17, 2026, revised from ¥32.92 to ¥32.70 (−0.7%) since Jul 12, 2026. Share price −11.3% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥89.09). The favourable scenario is already priced in.
  • The model range is unusually wide (¥24.19 to ¥89.09). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥141.07 ¥5.98 Fair Value ¥32.70 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ¥5.98 – ¥141.07 · fair‑value band ¥24.19 – ¥89.09 · the ¥108.20 price screens above the ¥32.70 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Shengyi Electronics Co (688183) currently trades at ¥108.20, while our model-based Fair Value estimate is ¥32.70, implying the stock looks roughly 69.8% overvalued today. We read business quality 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: high).

Over the trailing twelve months, Shengyi Electronics Co generated revenue of 10.3B CNY at a net margin of 16.6%. Revenue grew 52.6% year over year. It earns a return on equity of 32.3%. Net debt stands at 1.1B CNY. Fundamentals as of Jul 17, 2026

Our scenario range runs from ¥24.19 (bear case) to ¥89.09 (bull case); at ¥108.20, 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 25% below its 52-week high and 174% 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 -70%, 688183 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥12.03 ¥16.05 ¥93.83 76
ROIC Compounder ¥22.89 ¥36.38 ¥49.51 72
Gordon GGM ¥5.66 ¥11.77 ¥18.67 70
All 17 models by family
DCF Models
Owner Earnings ¥4.66 ¥9.71 ¥20.32 31
Earnings-Based
Graham-Dodd ¥11.96 ¥83.41 ¥117.05 54
Lynch FV ¥43.09 ¥61.56 ¥80.03 50
PEG = 1.0 ¥43.09 ¥61.56 ¥80.03 46
EPV ¥17.00 ¥19.72 ¥22.09 59
Dividend Discount
Gordon GGM ¥5.66 ¥11.77 ¥18.67 70
DDM Multi-Stage ¥5.66 ¥9.93 ¥12.35 61
Multiples
P/E Multiple ¥26.38 ¥35.18 ¥43.97 63
P/S Multiple ¥21.25 ¥28.34 ¥35.42 58
P/B Multiple ¥15.43 ¥20.58 ¥25.72 55
EV/EBIT ¥29.95 ¥39.70 ¥49.45 53
EV/EBITDA ¥26.22 ¥34.73 ¥43.24 54
EV/Revenue ¥20.41 ¥28.86 ¥37.31 43
Asset-Based
NCAV (Graham) ¥3.43 ¥4.60 ¥6.86 50
Economic Profit
Residual Income ¥12.03 ¥16.05 ¥93.83 76
ROIC Compounder ¥22.89 ¥36.38 ¥49.51 72
Growth Earnings
Growth-Adj P/E ¥55.53 ¥79.32 ¥103.12 68

Widest divergence: Growth Earnings (¥79.32) versus Asset-Based (¥4.60). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 10.3B CNY
Revenue growth (YoY) +52.6%
Net margin 16.6%
Return on equity 32.3%
Free cash flow −18.7M CNY FY2025
P/E ratio 58.3
More key figures
Operating margin 23.6%
EPS (TTM) ¥2.02
Dividend yield 0.7%
EPS growth (YoY) +117%
Net debt 1.1B CNY FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 58

Profitability 68
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 82
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

Shengyi Electronics Co., Ltd. designs, produces, and sells printed circuit boards in China. The company offers communication equipment boards, network equipment boards, computer and server boards, automotive electronic boards, consumer electronic boards, industrial control equipment board, medical device boards, and aerospace boards.

Full company description

Shengyi Electronics Co., Ltd. designs, produces, and sells printed circuit boards in China. The company offers communication equipment boards, network equipment boards, computer and server boards, automotive electronic boards, consumer electronic boards, industrial control equipment board, medical device boards, and aerospace boards. Its products are used in communication equipment, network equipment, computer and server, automotive electronics, industrial control, medical, and aerospace industries. The company was founded in 1985 and is headquartered in Dongguan, China. Shengyi Electronics Co., Ltd. operates as a subsidiary of Shengyi Technology Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shengyi Electronics Co reported revenue of ¥9.5B in FY2025 versus ¥3.6B in FY2021, a compound +27.0%/yr. Reported net income was ¥1.5B in FY2025, compounding +53.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
9.5B CNY
Latest YoY
+102.6%
Avg. growth/yr (3Y)
+39.0%
Avg. growth/yr (5Y)
+21.2%
Avg. growth/yr (6Y)
+20.5%
Revenue +27.0%/yr
FY21 ¥3.6B
FY22 ¥3.5B
FY23 ¥3.3B
FY24 ¥4.7B
FY25 ¥9.5B
Net income +53.7%/yr
FY21 ¥264M
FY22 ¥313M
FY23 −¥25.0M
FY24 ¥332M
FY25 ¥1.5B

688183 screens 70% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Shengyi Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/688183

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.

Quality Score 61 · Top 25%
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 32% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 53% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 59.9× · Pricier than median
P/B 17.45× · Pricier than 75% of peers
P/S (TTM) 9.71× · Pricier than 75% of peers
EV/EBITDA 41.7× · 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 0
FUTURE 100 · sector 32
PAST 100 · sector 24
HEALTH 99 · sector 95
DIVIDEND 14 · sector 24

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

Insider activity: 40/100

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Shengyi Electronics Co (688183) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ¥32.70 versus a price of ¥108.20, about −70% (overvalued).
What is the fair value of 688183?
Our model-based fair value for Shengyi Electronics Co is ¥32.70 (as of Jul 17, 2026), built from audited fundamentals. The current price is ¥108.20.
What is the quality score of 688183?
Shengyi Electronics Co has a Quality Score of 61/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Shengyi Electronics Co (688183)?
Shengyi Electronics Co reported trailing-twelve-month revenue of about 10.3B CNY (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 688183?
The net profit margin of Shengyi Electronics Co is about 16.6%, meaning it keeps roughly 16.6% of revenue as net income. Based on the latest reported figures.
Does Shengyi Electronics Co pay a dividend?
Shengyi Electronics Co currently shows a dividend yield of about 0.70% relative to its recent price (as of Jul 17, 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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