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Tianjin Jiuri New Materials Co Ltd (688199) Fair Value & Analysis

Basic Materials · CN · Market cap 3.7B CNY (≈ $557M) · ISIN CNE100003NS4

What is Tianjin Jiuri New Materials Co Ltd really worth?

TJ Tianjin Jiuri New Materials Co Ltd 688199 · SHG
Price¥24.70
Fair Value¥2.91
Upside−88.2%
Quality41/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Below-average quality, and trading another 749% above our fair value of ¥2.91.

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Risks

!Expensive Growth (revenue 5y +8.0 %/yr)
!Thin margins · 3.1% net margin
!Low debt · negative free cash flow
!Trails peers (3/13)
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain
!Weak on past: 6 out of 100
!Weak on dividend: 5 out of 100

For context

·0.24% dividend yield
Evidence: Low Range ¥2.18 – ¥3.64

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 18 days ago

Share price +21.3% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (¥3.64). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

¥35.14 ¥9.84 Fair Value ¥2.91 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥9.84 – ¥35.14 · fair‑value band ¥2.18 – ¥3.64 · the ¥24.70 price screens above the ¥2.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Tianjin Jiuri New Materials Co Ltd (688199) currently trades at ¥24.70, while our model-based Fair Value estimate is ¥2.91, implying the stock looks roughly 748.9% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Basic Materials sector. Bull case: the Asset-Based group reads highest at a median of ¥10.79 per share, and 0 of the 17 models we run sit above the ¥24.70 price. Bear case: the Earnings-Based group reads lowest at ¥1.55, and 17 of the 17 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Tianjin Jiuri New Materials Co Ltd generated revenue of 1.6B CNY at a net margin of 3.1%. Revenue grew 24.5% year over year. It earns a return on equity of 1.4%. Net debt stands at 451M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥2.18 (bear case) to ¥3.64 (bull case); at ¥24.70, 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 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at −88%, 688199 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.1604 per share, which is 5.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥1.55 to ¥15.33). Read the values as a conservative anchor, not as a price target.
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
Owner Earnings ¥7.06 ¥10.48 ¥15.82 76
Residual Income ¥10.93 ¥10.28 ¥7.39 76
EPV ¥2.86 ¥3.05 ¥3.21 74
All 17 models by family
DCF Models
Owner Earnings ¥7.06 ¥10.48 ¥15.82 76
Earnings-Based
Graham-Dodd ¥1.16 ¥4.46 ¥6.04 64
Lynch FV ¥1.09 ¥1.55 ¥2.02 61
PEG = 1.0 ¥1.09 ¥1.55 ¥2.02 57
EPV ¥2.86 ¥3.05 ¥3.21 74
Dividend Discount
Gordon GGM ¥1.38 ¥2.74 ¥4.15 67
DDM Multi-Stage ¥1.38 ¥2.37 ¥2.89 67
Multiples
P/E Multiple ¥2.18 ¥2.91 ¥3.64 63
P/S Multiple ¥2.18 ¥2.91 ¥3.64 58
P/B Multiple ¥2.18 ¥2.91 ¥3.64 55
EV/EBIT ¥3.96 ¥4.72 ¥5.49 66
EV/EBITDA ¥11.91 ¥15.33 ¥18.75 67
EV/Revenue ¥3.65 ¥4.51 ¥5.36 54
Asset-Based
NCAV (Graham) ¥8.05 ¥10.79 ¥16.11 54
Economic Profit
Residual Income ¥10.93 ¥10.28 ¥7.39 76
ROIC Compounder ¥2.86 ¥3.05 ¥3.21 72
Growth Earnings
Growth-Adj P/E ¥1.74 ¥2.49 ¥3.24 67

Widest divergence: Asset-Based (¥10.79) versus Earnings-Based (¥1.55). Highest evidence: Owner Earnings (76).

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Key figures & financial health

P/E ratio 82.3
P/S ratio 1.53 P/E × margin
EPS (TTM) ¥0.3000 price ÷ EPS = P/E 82.3
Dividend yield 0.2% payout 20.0%
Net margin 1.9% FY2025
Return on equity 1.4% TTM
More key figures
Profitability
Return on assets (EBIT) 1.2% avg 5y
Operating margin 7.6% TTM
Growth
Revenue (TTM) 1.6B CNY TTM
Revenue growth (YoY) +24.5% 3y avg +1.7%
EPS growth (YoY) −75.8%
Balance sheet & cash flow
Free cash flow −90.1M CNY FY2025
Net debt 451M CNY FY2025

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 29

Profitability 17
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 40
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Tianjin Jiuri New Materials Co., Ltd. engages in the research and development, manufacture, and sale of UV curing and electronic chemical materials in China. The company offers photocuring materials, including photoinitiators and monomers; semiconductor materials, such as electronic chemicals and electrolyte additives; and fine chemical materials.

Full company description

Tianjin Jiuri New Materials Co., Ltd. engages in the research and development, manufacture, and sale of UV curing and electronic chemical materials in China. The company offers photocuring materials, including photoinitiators and monomers; semiconductor materials, such as electronic chemicals and electrolyte additives; and fine chemical materials. It also offers photosensitizer and photoresist. The company was founded in 1998 and is based in Tianjin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tianjin Jiuri New Materials Co Ltd reported revenue of 1.5B CNY in FY2025 versus 1.3B CNY in FY2021, a compound +4.4%/yr. Reported net income was 27.6M CNY in FY2025, compounding −36.1%/yr from FY2021.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−0.1%
Avg. revenue 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.
+1.7%
Avg. revenue 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.
+8.0%
Avg. revenue growth/yr (9Y) 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.
+9.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−34.9% (−35.1 + 0.2)
Revenue +4.4%/yr
FY21 1.3B CNY
FY22 1.4B CNY
FY23 1.2B CNY
FY24 1.5B CNY
FY25 1.5B CNY
Net income −36.1%/yr
FY21 166M CNY
FY22 43.3M CNY
FY23 −96.1M CNY
FY24 −53.8M CNY
FY25 27.6M CNY

688199 screens 749% overvalued. Compare with Saudi Basic Industries Corporation →

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Cite: Fair Value Calculator (2026). "Tianjin Jiuri New Materials Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688199

Peer Group

Chemicals · 344 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 41 · Bottom 25%
Fair Value upside −88% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 8% · Below median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 82.3× · Pricier than 75% of peers
P/B 1.44× · Cheaper than median
P/S (TTM) 2.38× · Pricier than median
EV/EBITDA 14.5× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 19
PAST6 · sector 20
HEALTH96 · sector 94
DIVIDEND5 · sector 31

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.

None of the checked exposures detected

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Saudi Basic Industries Corporation 2010 49.50 SAR 18.13 SAR −63%
A. Schulman, Inc SLMNP $849.00 $203.64 −76%
Ningxia Baofeng Energy Group 600989 ¥24.49 ¥20.17 −18%
Dow Inc DOW $30.51 $21.03 −31%
Zhejiang Juhua Co 600160 ¥41.32 ¥21.62 −48%
Rongsheng Petrochemical Co 002493 ¥13.76 ¥2.39 −83%
Zangge Mining Company 000408 ¥78.04 ¥20.99 −73%
PT Barito Pacific Tbk, BRPT 1,855 IDR 1,584 IDR −15%
Ganfeng Lithium Group 002460 ¥54.13 ¥16.17 −70%
Hengli Petrochemical Co 600346 ¥18.87 ¥17.09 −9%

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Frequently asked questions

Is Tianjin Jiuri New Materials Co Ltd (688199) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥2.91 versus a price of ¥24.70, about −88% upside (overvalued).
What is the fair value of 688199?
Our model-based fair value for Tianjin Jiuri New Materials Co Ltd is ¥2.91 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥24.70.
What is the quality score of 688199?
Tianjin Jiuri New Materials Co Ltd has a Quality Score of 41/100. 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 Tianjin Jiuri New Materials Co Ltd (688199)?
Tianjin Jiuri New Materials Co Ltd reported trailing-twelve-month revenue of about 1.6B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 688199?
The net profit margin of Tianjin Jiuri New Materials Co Ltd is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.
Does Tianjin Jiuri New Materials Co Ltd pay a dividend?
Tianjin Jiuri New Materials Co Ltd currently shows a dividend yield of about 0.24% relative to its recent price (as of Aug 13, 2026).
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