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Shenzhen Yanmade Technology Inc (688312) Fair Value & Analysis

Industrials · CN · Market cap 12.0B CNY

SY Shenzhen Yanmade Technology Inc 688312 · SHG
Price¥49.02
Fair Value¥17.22
Upside-64.9%
Quality77/100
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Healthy Growth
Highly profitable · 22.2% net margin
generates free cash flow
0.72% dividend yield
Trails peers (4/13)
Moderate moat 52/100
Evidence: High Range ¥13.69 – ¥20.74 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥18.79 to ¥17.22 (−8.4%) since Jun 24, 2026. Share price −23.3% over the past month.

A strong business, but screening 65% overvalued on our models.

What matters now

  • A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (¥20.74). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

¥103.08 ¥12.10 Fair Value ¥17.22 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥12.10 – ¥103.08 · fair‑value band ¥13.69 – ¥20.74 · the ¥49.02 price screens above the ¥17.22 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Shenzhen Yanmade Technology Inc (688312) currently trades at ¥49.02, while our model-based Fair Value estimate is ¥17.22, implying the stock looks roughly 64.9% overvalued today. The Quality Score stands at 77/100 (high quality), in the Industrials 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, Shenzhen Yanmade Technology Inc generated revenue of 615M CNY at a net margin of 22.2%. Revenue declined 3.7% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of 457M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥13.69 (bear case) to ¥20.74 (bull case); at ¥49.02, 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 55% below its 52-week high and 118% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -65%, 688312 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥8.94 ¥9.76 ¥12.91 76
Growth DCF ¥14.09 ¥24.92 ¥44.65 72
Gordon GGM ¥4.65 ¥9.67 ¥15.35 70
All 26 models by family
DCF Models
FCF DCF ¥14.48 ¥22.78 ¥44.90 38
Owner Earnings ¥13.33 ¥24.37 ¥46.51 31
5Y Revenue Exit ¥10.75 ¥16.33 ¥24.98 39
5Y EBITDA Exit ¥14.09 ¥23.79 ¥38.06 41
5Y P/E Exit ¥16.94 ¥30.80 ¥48.20 38
10Y Revenue Exit ¥11.64 ¥17.99 ¥27.16 36
10Y EBITDA Exit ¥14.16 ¥23.96 ¥40.95 37
10Y P/E Exit ¥16.14 ¥29.06 ¥50.38 35
Earnings-Based
Graham-Dodd ¥6.37 ¥40.68 ¥56.87 54
Lynch FV ¥11.78 ¥16.82 ¥21.87 50
PEG = 1.0 ¥11.78 ¥16.82 ¥21.87 46
EPV ¥11.63 ¥12.95 ¥14.10 59
Dividend Discount
Gordon GGM ¥4.65 ¥9.67 ¥15.35 70
DDM Multi-Stage ¥4.65 ¥8.16 ¥10.15 61
Multiples
P/E Multiple ¥14.75 ¥19.66 ¥24.58 63
P/S Multiple ¥6.33 ¥8.43 ¥10.54 58
P/B Multiple ¥11.94 ¥15.92 ¥19.89 55
EV/EBIT ¥15.48 ¥19.40 ¥23.32 53
EV/EBITDA ¥14.30 ¥17.83 ¥21.36 54
EV/Revenue ¥9.04 ¥11.32 ¥13.60 43
Asset-Based
NCAV (Graham) ¥5.20 ¥6.96 ¥10.39 50
Growth DCF
Growth DCF ¥14.09 ¥24.92 ¥44.65 72
Rev-Margin DCF ¥10.75 ¥16.41 ¥24.55 67
Economic Profit
Residual Income ¥8.94 ¥9.76 ¥12.91 76
ROIC Compounder ¥12.57 ¥16.71 ¥20.03 67
Growth Earnings
Growth-Adj P/E ¥16.67 ¥23.81 ¥30.96 68

Widest divergence: Growth Earnings (¥23.81) versus Asset-Based (¥6.96). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 615M CNY
Revenue growth (YoY) -3.7%
Net margin 22.2%
Return on equity 9.0%
Free cash flow 106M CNY FY2025
P/E ratio 88.2
More key figures
Operating margin 6.9%
EPS (TTM) ¥0.9300
Dividend yield 0.7%
Net cash 457M CNY FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 77/100

Of which business quality 77 · Market factors (momentum, volatility) 55

Profitability 54
Margins and returns on capital today
Quality Growth 84
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 92
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

Shenzhen Yanmade Technology Inc., together with its subsidiaries, engages in the research, design, development, production, and sale of automated and intelligent testing equipment in China and internationally.

Full company description

Shenzhen Yanmade Technology Inc., together with its subsidiaries, engages in the research, design, development, production, and sale of automated and intelligent testing equipment in China and internationally. The company offers FPC automated testing equipment comprising dual-layer, general-purpose multi-process, and small-scale automated testing equipment, as well as dual-station and six-station turntables, and single-station bending fixtures; MEMS sensor testing equipment consisting of linear and single-station MEMS sensor testing and calibration equipment, temperature and humidity sensor testing and calibration equipment, IMU laboratory testing equipment, and IMU test and calibration equipment; and automotive electronics/IC substrate testing equipment, such as FPCA/CCS and roll-to-roll FPC flying probe testers, and IC carrier board testing machines. It also provides RF testing equipment, including RF multi-process line automation equipment, RF single-process automatic loading and unloading testing equipment, RF desktop robot loading and unloading equipment, RF semi-automatic test equipment, and RF three-station turntable testing equipment; and silicon photonics testing equipment, such as coupled automated testing equipment and silicon photonics wafer testing equipment. In addition, the company offers software, trading, integration and technical services. Further, it exports its products. Shenzhen Yanmade Technology Inc. was founded in 2012 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhen Yanmade Technology Inc reported revenue of ¥619M in FY2025 versus ¥428M in FY2021, a compound +9.7%/yr. Reported net income was ¥137M in FY2025, compounding +2.9%/yr from FY2021.

Growth Quality 91/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
619M CNY
Latest YoY
+24.3%
Avg. growth/yr (3Y)
+24.9%
Avg. growth/yr (5Y)
+12.0%
Avg. growth/yr (9Y)
+12.0%
Revenue +9.7%/yr
FY21 ¥428M
FY22 ¥318M
FY23 ¥327M
FY24 ¥498M
FY25 ¥619M
Net income +2.9%/yr
FY21 ¥122M
FY22 ¥81.6M
FY23 ¥68.6M
FY24 ¥96.3M
FY25 ¥137M

688312 screens 65% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Shenzhen Yanmade Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/688312

Peer Group

Specialty Industrial Machinery · 809 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 77 · Top 25%
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 7% · Below median
Revenue growth -4% · Below median
Dividend yield (TTM) 0.7% · Below median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 88.2× · Pricier than 75% of peers
P/B 7.90× · Pricier than 75% of peers
P/S (TTM) 19.57× · Pricier than 75% of peers
P/FCF 16.9× · Pricier than 75% of peers
EV/EBITDA 80.6× · 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 0 · sector 23
PAST 36 · sector 28
HEALTH 0 · sector 96
DIVIDEND 14 · sector 24

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Shenzhen Yanmade Technology Inc (688312) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥17.22 versus a price of ¥49.02, about −65% (overvalued).
What is the fair value of 688312?
Our model-based fair value for Shenzhen Yanmade Technology Inc is ¥17.22 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥49.02.
What is the quality score of 688312?
Shenzhen Yanmade Technology Inc has a Quality Score of 77/100. 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 Shenzhen Yanmade Technology Inc (688312)?
Shenzhen Yanmade Technology Inc reported trailing-twelve-month revenue of about 615M CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688312?
The net profit margin of Shenzhen Yanmade Technology Inc is about 22.2%, meaning it keeps roughly 22.2% of revenue as net income. Based on the latest reported figures.
Does Shenzhen Yanmade Technology Inc pay a dividend?
Shenzhen Yanmade Technology Inc currently shows a dividend yield of about 0.72% relative to its recent price (as of Jul 12, 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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