Thinkon Semiconductor Jinzhou Corp (688233) Fair Value & Analysis
Technology · CN · Market cap 19.7B CNY
Fair value as of: Aug 12, 2026
From 17 valuation models · updated today
Share price −34.0% over the past month.
A solid business, but screening 90% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥14.98). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 12, 2026.
How to read this chart
60‑month range ¥13.90 – ¥238.56 · fair‑value band ¥8.99 – ¥14.98 · the ¥114.14 price screens above the ¥11.98 fair value. Dashed = 300-day average. As of Aug 12, 2026.
Analysis
Thinkon Semiconductor Jinzhou Corp (688233) currently trades at ¥114.14, while our model-based Fair Value estimate is ¥11.98, implying the stock looks roughly 89.5% overvalued today. The Quality Score stands at 67/100 (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).
Over the trailing twelve months, Thinkon Semiconductor Jinzhou Corp generated revenue of 445M CNY at a net margin of 22.3%. Revenue grew 6.2% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of 340M CNY. Fundamentals as of Aug 12, 2026
Our scenario range runs from ¥8.99 (bear case) to ¥14.98 (bull case); at ¥114.14, 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 4% below its 52-week high and 326% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -90%, 688233 screens richer 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.
All 17 models by family
Widest divergence: Growth Earnings (¥27.02) versus Dividend Discount (¥1.20). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 60
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
Thinkon Semiconductor Jinzhou Corp., together with its subsidiaries, engages in the research, development, production, and sale of monocrystalline silicon products for integrated circuit etching in China and internationally.
Full company description
Thinkon Semiconductor Jinzhou Corp., together with its subsidiaries, engages in the research, development, production, and sale of monocrystalline silicon products for integrated circuit etching in China and internationally. The company offers large-diameter silicon ingots, silicon cylinders, silicon plates, silicon rings, silicon wafers, silicon single crystal rods, silicon tubes, silicon platters, and other products. It also engages in technology promotion; business services; and trading activities. The company exports its products to Japan, South Korea, and the United States. Thinkon Semiconductor Jinzhou Corp. was founded in 2013 and is headquartered in Jinzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thinkon Semiconductor Jinzhou Corp reported revenue of ¥438M in FY2025 versus ¥504M in FY2021, a compound −3.4%/yr. Reported net income was ¥102M in FY2025, compounding −17.6%/yr from FY2021.
688233 screens 90% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 215 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 Semiconductor Equipment & Materials 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.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$15.57 | -69% |
| Applied Materials, Inc AMAT | $579.43 | $143.08 | -75% |
| Lam Research Corporation LRCX | $346.10 | $67.57 | -80% |
| KLA Corporation KLAC | $212.75 | $53.01 | -75% |
| NAURA Technology Group 002371 | ¥774.20 | ¥151.43 | -80% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥350.69 | ¥41.79 | -88% |
| Piotech Inc 688072 | ¥832.00 | ¥431.44 | -48% |
| Hon. Precision, Inc 7769 | 6,005 TWD | 1,804 TWD | -70% |
| Hangzhou Changchuan Technology Co 300604 | ¥325.24 | ¥33.33 | -90% |
| MPI Corporation 6223 | 5,600 TWD | 609.44 TWD | -89% |
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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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