Novoray Corporation (688300) Fair Value & Analysis
Basic Materials · CN · Market cap 51.5B CNY
Fair value as of: Jul 12, 2026
From 26 valuation models · updated today
Share price +1.7% over the past month.
Price vs Fair Value (12 months)
12‑month range ¥42.85 – ¥272.54 · fair‑value band ¥11.89 – ¥35.82 · the ¥183.17 price screens above the ¥19.41 fair value. As of Jul 12, 2026.
✦ Which stocks are undervalued right now? Check free Discover now →Analysis
Novoray Corporation (688300) currently trades at ¥183.17, while our model-based Fair Value estimate is ¥19.41 — implying the stock looks roughly 89.4% overvalued today. We read business quality at 72/100 (solid quality), in the Basic Materials 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, Novoray Corporation generated revenue of 1.2B CNY at a net margin of 25.7%. Revenue grew 23.2% year over year. It earns a return on equity of 17.7%. Net debt stands at 9.6M CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥11.89 (bear case) to ¥35.82 (bull case); at ¥183.17, the current price sits above that range. The share trades about 15% below its 52-week high and 339% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside — at -89%, 688300 screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 12, 2026. TTM = trailing twelve months.
About the company
Novoray Corporation provides industrial powder materials in China and internationally. The company offers crystalline silica powder, fused silica powder, soft composite silica powder, round corner crystalline silica powder, spherical silica powder, spherical aluminum oxide powder, sub-micron spherical silica powder, and acicular powder. It serves electronic materials, electrical insulating materials, ceramics, precision casting, paints and coatings, silicon rubber, functional rubber, plastics, and building materials manufacturing industries. Novoray Corporation was founded in 2002 and is based in Lianyungang, China.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Novoray Corporation reported revenue of ¥1.1B in FY2025 versus ¥625M in FY2021, a compound +15.6%/yr. Reported net income was ¥293M in FY2025, compounding +14.1%/yr from FY2021.
Is 688300 fairly valued? → Check now
Similar stocks
10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $509.16 | $159.69 | -69% |
| L'Air Liquide S.A AIQUY | $37.81 | $15.56 | -59% |
| Nan Ya Plastics Corporation 1303 | 154.50 TWD | 7.80 TWD | -95% |
| Intercontinental Exchange, Inc I1CE34 | R$367.00 | R$311.38 | -15% |
| Wanhua Chemical Group 600309 | ¥74.30 | ¥68.03 | -8% |
| Asian Paints Limited ASIANPAINT | ₹2,715 | ₹655.71 | -76% |
| PPG Industries, Inc PPG | 1,988 MXN | 1,169 MXN | -41% |
| LyondellBasell Industries N.V L1YB34 | R$171.50 | R$190.25 | +11% |
| Solar Industries India Limited SOLARINDS | ₹18,441 | ₹4,083 | -78% |
| PT Chandra Asri Pacific Tbk TPIA | 1,930 IDR | 0.1600 IDR | -100% |
Explore undervalued stocks
More undervalued Basic Materials stocks →
Frequently asked questions
Is Novoray Corporation (688300) undervalued?
What is the fair value of 688300?
What is the quality score of 688300?
What is the revenue of Novoray Corporation (688300)?
What is the net profit margin of 688300?
Does Novoray Corporation pay a dividend?
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.
Unlock the full Novoray Corporation analysis — and try Pro free
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.
Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.