Thinkon Semiconductor Jinzhou Corp (688233) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Thinkon Semiconductor Jinzhou Corp ¥16.78, price ¥87.92, upside -80.9%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ¥13.90 – ¥238.56 · fair‑value band ¥12.58 – ¥20.97 · the ¥87.92 price screens above the ¥16.78 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
Thinkon Semiconductor Jinzhou Corp (688233) currently trades at ¥87.92, while our model-based Fair Value estimate is ¥16.78, 80.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥30.28 per share, and 0 of the 17 models we run sit above the ¥87.92 price.
Bear case: the DCF Models group reads lowest at ¥6.97, and 17 of the 17 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥12.58 (bear) to ¥20.97 (bull), the price of ¥87.92 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Thinkon Semiconductor Jinzhou Corp reported revenue of 438M CNY in FY2025 versus 504M CNY in FY2021, a compound −3.4%/yr. Reported net income was 102M CNY in FY2025, compounding −17.6%/yr from FY2021.
Key figures
Market cap 19.7B CNY (≈ $2.9B) · P/E ratio 151.6 · P/S ratio 35.3 · EPS (TTM) ¥0.5800 · Dividend yield 0.2% · Net margin 23.3% · Return on equity 6.1% · Return on assets (EBIT) 6.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 63% below its 52-week high and 101% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −28% fair-value upside, at −81%, 688233 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥1.13 to ¥30.28). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥12.58Fair Value ¥16.78Bull ¥20.97
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.2987 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+44.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−6.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.9%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+29.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.5%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.5% vs 11.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.58% → 29%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 4.2%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer Groupⓘ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.Semiconductor Equipment & Materials · 213 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Thinkon Semiconductor Jinzhou Corp (688233) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥16.78 versus a price of ¥87.92, about −81% upside (overvalued).
What is the fair value of 688233?
Our model-based fair value for Thinkon Semiconductor Jinzhou Corp is ¥16.78 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥87.92.
What is the quality score of 688233?
Thinkon Semiconductor Jinzhou Corp has a Quality Score of 67/100. 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 price target for Thinkon Semiconductor Jinzhou Corp (688233)?
Our model-based price target is the fair value of ¥16.78 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ¥12.58, optimistic scenario ¥20.97. It is a calculation from audited fundamentals, not an analyst target.
What is the Thinkon Semiconductor Jinzhou Corp stock forecast for 2026?
Our models put fair value at ¥16.78, about −81% upside versus a price of ¥87.92 (overvalued). Cautious scenario ¥12.58, optimistic scenario ¥20.97. The calculation is refreshed regularly with new filings.
What is the revenue of Thinkon Semiconductor Jinzhou Corp (688233)?
Thinkon Semiconductor Jinzhou Corp reported trailing-twelve-month revenue of about 445M CNY (latest available figure, as of Sep 24, 2026).
Does Thinkon Semiconductor Jinzhou Corp pay a dividend?
Thinkon Semiconductor Jinzhou Corp currently shows a dividend yield of about 0.21% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Thinkon Semiconductor Jinzhou Corp (688233)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thinkon Semiconductor Jinzhou Corp it is ¥16.78 per share (as of Sep 24, 2026), against a price of ¥87.92. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Thinkon Semiconductor Jinzhou Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 688233 trades above its calculated fair value: price ¥87.92, fair value ¥16.78, a gap of about −81% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688233?
No. The price is what the market pays today (¥87.92); the fair value is what the company's own numbers justify (¥16.78). For Thinkon Semiconductor Jinzhou Corp the two are ¥71.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Thinkon Semiconductor Jinzhou Corp worth?
The market values Thinkon Semiconductor Jinzhou Corp at about 19.7B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥87.92; our models calculate a fair value of ¥16.78 per share.
What do the bullish and bearish scenarios say about 688233?
Our models span a range for Thinkon Semiconductor Jinzhou Corp: cautious scenario ¥12.58, base ¥16.78, optimistic ¥20.97 per share (as of Sep 24, 2026, price ¥87.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688233?
Thinkon Semiconductor Jinzhou Corp trades at a price-to-earnings ratio of 151.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥16.78 is built from several models across several years. Other multiples: P/B 10.4, P/S 44.3, EV/EBITDA 98.0.
How solid is the balance sheet of Thinkon Semiconductor Jinzhou Corp (688233)?
Balance-sheet figures for Thinkon Semiconductor Jinzhou Corp (as of Sep 24, 2026): return on equity 6.1%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 688233 from its 52-week high?
Thinkon Semiconductor Jinzhou Corp trades at ¥87.92, about 63% below its 52-week high of ¥238.56 and 101% above the low of ¥43.72 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥16.78 is for.
Which stocks are comparable to Thinkon Semiconductor Jinzhou Corp?
From the same area (Technology) we also value ASML Holding, Lam Research Corporation, Applied Materials, Inc, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Thinkon Semiconductor Jinzhou Corp stock attractive at the current price?
The data as of Sep 24, 2026: price ¥87.92, calculated fair value ¥16.78 (−81%), Quality Score 67/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688233 calculated?
We run Thinkon Semiconductor Jinzhou Corp through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥16.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Thinkon Semiconductor Jinzhou Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Thinkon Semiconductor Jinzhou Corp (688233)?
The closing price on Sep 30, 2026 was ¥87.92. Our model-based fair value is ¥16.78, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thinkon Semiconductor Jinzhou Corp right now?
The price sits above even our optimistic bull case (¥20.97). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Thinkon Semiconductor Jinzhou Corp
How large is the market capitalisation of Thinkon Semiconductor Jinzhou Corp (688233)?
The market capitalisation of Thinkon Semiconductor Jinzhou Corp is 19.7B CNY (≈ $2.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Thinkon Semiconductor Jinzhou Corp (688233)?
The price-to-sales ratio of Thinkon Semiconductor Jinzhou Corp is 35.3 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Thinkon Semiconductor Jinzhou Corp (688233)?
Earnings per share at Thinkon Semiconductor Jinzhou Corp are ¥0.5800 (price ÷ EPS = P/E 151.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thinkon Semiconductor Jinzhou Corp (688233)?
The dividend yield of Thinkon Semiconductor Jinzhou Corp is 0.2% (payout 31.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Thinkon Semiconductor Jinzhou Corp (688233)?
The net margin of Thinkon Semiconductor Jinzhou Corp is 23.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Thinkon Semiconductor Jinzhou Corp (688233)?
The return on equity (ROE) of Thinkon Semiconductor Jinzhou Corp is 6.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Thinkon Semiconductor Jinzhou Corp (688233)?
On an EBIT basis the return on assets of Thinkon Semiconductor Jinzhou Corp is 6.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Thinkon Semiconductor Jinzhou Corp (688233)?
The operating margin of Thinkon Semiconductor Jinzhou Corp is 24.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thinkon Semiconductor Jinzhou Corp (688233)?
Revenue at Thinkon Semiconductor Jinzhou Corp is growing +6.2% versus a year earlier (3y avg −6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Thinkon Semiconductor Jinzhou Corp (688233)?
Earnings per share at Thinkon Semiconductor Jinzhou Corp are growing −11.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Thinkon Semiconductor Jinzhou Corp (688233) generate?
The free cash flow of Thinkon Semiconductor Jinzhou Corp is −804K CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Thinkon Semiconductor Jinzhou Corp (688233) hold?
Thinkon Semiconductor Jinzhou Corp holds more cash than debt, 340M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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