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Hefei Chipmore Technology Co. Ltd. A (688352) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hefei Chipmore Technology Co. Ltd. A ¥5.50, price ¥19.81, upside -72.2%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · CN · ISIN CNE1000060H9

HC Some data Sep 24, 2026

Hefei Chipmore Technology Co. Ltd. A

688352 · SHG

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥5.50 · Strongly overvalued (−72%)
!Quality 46/100
!Expensive Growth (revenue 3y +18.5 %/yr)
!Loss over the last twelve months · -2.7% net margin (TTM) · fiscal year 2025 12.1%
!Low debt · negative free cash flow
·0.50% dividend yield
!Trails peers (3/12)
!Narrow moat 19/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 10 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

¥24.18 ¥8.18 Fair Value ¥5.50 Apr 2023 Sep 2026

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

41‑month range ¥8.18 – ¥24.18 · fair‑value band ¥3.85 – ¥7.14 · the ¥19.81 price screens above the ¥5.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Hefei Chipmore Technology Co.,Ltd. operates as a packaging and testing service provider for integrated circuits in China and internationally.

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Hefei Chipmore Technology Co.,Ltd. operates as a packaging and testing service provider for integrated circuits in China and internationally. The company offers packaging and testing solutions, including bump processing, wafer testing, grinding and cutting, packaging and testing; and support services, such as photomask design, COF tape-on-feed design, substrate/frame design, test program development, probe card/POGO PIN design and repair, and thin film flip chip tape design. Its packaging and testing products, include various display driver chips, power management chips, and RF front-end chips used for applications in televisions, smartphones, automotive electronics, smart wearables, electronic communications, and industrial control. Hefei Chipmore Technology Co.,Ltd. was founded in 2004 and is based in Suzhou, China.

Stock analysis

Hefei Chipmore Technology Co. Ltd. A (688352) currently trades at ¥19.81, while our model-based Fair Value estimate is ¥5.50, implying the stock looks roughly 260.2% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ¥5.50 per share, and 0 of the 17 models we run sit above the ¥19.81 price.

Bear case: the Dividend Discount group reads lowest at ¥1.78, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥3.85 (bear) to ¥7.14 (bull), the price of ¥19.81 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 46/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Hefei Chipmore Technology Co. Ltd. A reported revenue of 2.2B CNY in FY2025 versus 1.3B CNY in FY2021, a compound +13.5%/yr. Reported net income was 266M CNY in FY2025, compounding −3.4%/yr from FY2021.

Key figures

Market cap 23.6B CNY (≈ $3.5B) · P/S ratio 9.92 · EPS (TTM) ¥−0.0500 · Dividend yield 0.5% · Net margin 12.1% · Return on equity −1.0% · Return on assets (EBIT) 6.1% · Operating margin −3.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −72%, 688352 screens richer than that median.

Fair Value models

Bear ¥3.85 Fair Value ¥5.50 Bull ¥7.14
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. 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 ⓘ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.
Highest evidence
Residual Income ¥3.89 ¥3.90 ¥3.61 73
Owner Earnings ¥1.40 ¥2.31 ¥4.00 71
EPV ¥2.46 ¥2.79 ¥3.09 71
All 17 models by family
DCF Models
Owner Earnings ¥1.40 ¥2.31 ¥4.00 71
Earnings-Based
Graham-Dodd ¥1.52 ¥8.06 ¥11.16 61
Lynch FV ¥2.22 ¥3.17 ¥4.12 58
PEG = 1.0 ¥2.22 ¥3.17 ¥4.12 55
EPV ¥2.46 ¥2.79 ¥3.09 71
Dividend Discount
Gordon GGM ¥1.01 ¥2.11 ¥3.34 63
DDM Multi-Stage ¥1.01 ¥1.78 ¥2.21 64
Multiples
P/E Multiple ¥4.69 ¥6.26 ¥7.82 63
P/S Multiple ¥2.85 ¥3.80 ¥4.75 58
P/B Multiple ¥2.85 ¥3.80 ¥4.75 55
EV/EBIT ¥5.29 ¥6.92 ¥8.54 66
EV/EBITDA ¥9.58 ¥12.63 ¥15.69 67
EV/Revenue ¥2.88 ¥3.94 ¥4.99 54
Asset-Based
NCAV (Graham) ¥2.57 ¥3.44 ¥5.14 54
Economic Profit
Residual Income ¥3.89 ¥3.90 ¥3.61 73
ROIC Compounder ¥2.46 ¥2.79 ¥3.09 69
Growth Earnings
Growth-Adj P/E ¥3.85 ¥5.50 ¥7.14 65

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Quality Score breakdown

Overall quality 46/100

Of which business quality 52 · Market factors (momentum, volatility) 60

Profitability 29
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 3
Disciplined investing over empire-building
Low Volatility 9
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.8%
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.
+18.5%
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.
−5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.2%
Dividend (yield on the price)0.5%
Profit margin 2021 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.29% → 15%

688352 screens 260% overvalued. Compare with ASML Holding →

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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 · 216 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −72% · Bottom 25%
Profitability
Return on assets 2% · Below median
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth −11% · Bottom 25%
Dividend yield (TTM) 0.5% · Below median
Balance sheet
Debt / equity 0.20× · Above median

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

P/B 0.58× · Cheapest 25%
P/S (TTM) 1.65× · Cheaper than median
EV/EBITDA 4.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 63
PAST (return on equity)0 · sector 30
HEALTH (low debt)90 · sector 96
DIVIDEND (yield)10 · sector 15

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,507 €1,350 −10%
Applied Materials, Inc AMAT $472.46 $370.20 −22%
Lam Research Corporation LRCX $310.96 $205.76 −34%
KLA Corporation KLAC $188.32 $149.08 −21%
Teradyne, Inc TER $398.69 $66.11 −83%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.06 ¥128.06 −63%
Piotech Inc 688072 ¥722.46 ¥322.24 −55%
SJ Semiconductor Corporation 688820 ¥134.86 ¥13.84 −90%
Hon. Precision, Inc 7769 5,975 TWD 5,071 TWD −15%
Qnity Electronics, Inc Q $124.86 $70.44 −44%

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Hefei Chipmore Technology Co. Ltd. A · Fair Value
¥5.50 −260%Fair Value
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Cite: Fair Value Calculator (2026). "Hefei Chipmore Technology Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688352

Frequently asked questions

Is Hefei Chipmore Technology Co. Ltd. A (688352) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥5.50 versus a price of ¥19.81, about −72% upside (overvalued).
What is the fair value of 688352?
Our model-based fair value for Hefei Chipmore Technology Co. Ltd. A is ¥5.50 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥19.81.
What is the quality score of 688352?
Hefei Chipmore Technology Co. Ltd. A has a Quality Score of 46/100. 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 Hefei Chipmore Technology Co. Ltd. A (688352)?
Our model-based price target is the fair value of ¥5.50 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ¥3.85, optimistic scenario ¥7.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Hefei Chipmore Technology Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥5.50, about −72% upside versus a price of ¥19.81 (overvalued). Cautious scenario ¥3.85, optimistic scenario ¥7.14. The calculation is refreshed regularly with new filings.
What is the revenue of Hefei Chipmore Technology Co. Ltd. A (688352)?
Hefei Chipmore Technology Co. Ltd. A reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Sep 24, 2026).
Does Hefei Chipmore Technology Co. Ltd. A pay a dividend?
Hefei Chipmore Technology Co. Ltd. A currently shows a dividend yield of about 0.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hefei Chipmore Technology Co. Ltd. A (688352)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hefei Chipmore Technology Co. Ltd. A it is ¥5.50 per share (as of Sep 24, 2026), against a price of ¥19.81. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Hefei Chipmore Technology Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 688352 trades above its calculated fair value: price ¥19.81, fair value ¥5.50, a gap of about −72% (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 688352?
No. The price is what the market pays today (¥19.81); the fair value is what the company's own numbers justify (¥5.50). For Hefei Chipmore Technology Co. Ltd. A the two are ¥14.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hefei Chipmore Technology Co. Ltd. A worth?
The market values Hefei Chipmore Technology Co. Ltd. A at about 23.6B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥19.81; our models calculate a fair value of ¥5.50 per share.
What do the bullish and bearish scenarios say about 688352?
Our models span a range for Hefei Chipmore Technology Co. Ltd. A: cautious scenario ¥3.85, base ¥5.50, optimistic ¥7.14 per share (as of Sep 24, 2026, price ¥19.81). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hefei Chipmore Technology Co. Ltd. A (688352)?
Balance-sheet figures for Hefei Chipmore Technology Co. Ltd. A (as of Sep 24, 2026): return on equity −1.0%, debt of 0.20 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 688352 from its 52-week high?
Hefei Chipmore Technology Co. Ltd. A trades at ¥19.81, about 18% below its 52-week high of ¥24.18 and 67% above the low of ¥11.84 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥5.50 is for.
Which stocks are comparable to Hefei Chipmore Technology Co. Ltd. A?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, 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 Hefei Chipmore Technology Co. Ltd. A stock attractive at the current price?
The data as of Sep 24, 2026: price ¥19.81, calculated fair value ¥5.50 (−72%), Quality Score 46/100, 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 688352 calculated?
We run Hefei Chipmore Technology Co. Ltd. A 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 ¥5.50, 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 14.1 % above its aggregate fair value. Hefei Chipmore Technology Co. Ltd. A 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 Hefei Chipmore Technology Co. Ltd. A (688352)?
The closing price on Sep 23, 2026 was ¥19.81. Our model-based fair value is ¥5.50, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hefei Chipmore Technology Co. Ltd. A right now?
The price sits above even our optimistic bull case (¥7.14). The favourable scenario is already priced in. Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥3.85 to ¥7.14) leaves room in how you read the outcome.

Key figures of Hefei Chipmore Technology Co. Ltd. A

How large is the market capitalisation of Hefei Chipmore Technology Co. Ltd. A (688352)?
The market capitalisation of Hefei Chipmore Technology Co. Ltd. A is 23.6B CNY (≈ $3.5B). 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 Hefei Chipmore Technology Co. Ltd. A (688352)?
The price-to-sales ratio of Hefei Chipmore Technology Co. Ltd. A is 9.92 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hefei Chipmore Technology Co. Ltd. A (688352)?
Earnings per share at Hefei Chipmore Technology Co. Ltd. A are ¥−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hefei Chipmore Technology Co. Ltd. A (688352)?
The dividend yield of Hefei Chipmore Technology Co. Ltd. A is 0.5%. 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 Hefei Chipmore Technology Co. Ltd. A (688352)?
The net margin of Hefei Chipmore Technology Co. Ltd. A is 12.1% (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 Hefei Chipmore Technology Co. Ltd. A (688352)?
The return on equity (ROE) of Hefei Chipmore Technology Co. Ltd. A is −1.0% (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 Hefei Chipmore Technology Co. Ltd. A (688352)?
On an EBIT basis the return on assets of Hefei Chipmore Technology Co. Ltd. A is 6.1% (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 Hefei Chipmore Technology Co. Ltd. A (688352)?
The operating margin of Hefei Chipmore Technology Co. Ltd. A is −3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hefei Chipmore Technology Co. Ltd. A (688352)?
Revenue at Hefei Chipmore Technology Co. Ltd. A is growing −11.4% versus a year earlier (3y avg +18.5%). 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 Hefei Chipmore Technology Co. Ltd. A (688352)?
Earnings per share at Hefei Chipmore Technology Co. Ltd. A are growing −15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hefei Chipmore Technology Co. Ltd. A (688352) generate?
The free cash flow of Hefei Chipmore Technology Co. Ltd. A is −67.1M 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 debt does Hefei Chipmore Technology Co. Ltd. A (688352) carry?
The net debt of Hefei Chipmore Technology Co. Ltd. A is 496M CNY (fiscal year 2022). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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