Union Semiconductor (Hefei) Co (688403) Fair Value & Analysis
Technology · CN · Market cap 24.2B CNY
Fair value as of: Jul 12, 2026
From 26 valuation models · updated 29 days ago
Fair value updated Jul 12, 2026, revised from ¥3.12 to ¥18.68 (+498.7%) since Jun 24, 2026. Share price −27.1% over the past month.
Below-average quality, and screening another 26% overvalued on our models.
What matters now
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
- Our model range runs from ¥15.16 (bear) to ¥24.83 (bull), base ¥18.68. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (4 years)
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
48‑month range ¥6.37 – ¥41.30 · fair‑value band ¥15.16 – ¥24.83 · the ¥25.25 price screens above the ¥18.68 fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Union Semiconductor (Hefei) Co (688403) currently trades at ¥25.25, while our model-based Fair Value estimate is ¥18.68, implying the stock looks roughly 26.0% overvalued today. The Quality Score stands at 49/100 (below-average 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: high).
Over the trailing twelve months, Union Semiconductor (Hefei) Co generated revenue of 1.8B CNY at a net margin of 8.7%. Revenue grew 13.2% year over year. It earns a return on equity of 4.6%. Net debt stands at 875M CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥15.16 (bear case) to ¥24.83 (bull case); at ¥25.25, 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 11% below its 52-week high and 172% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -26%, 688403 screens cheaper 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 26 models by family
Widest divergence: DCF Models (¥4.77) versus Economic Profit (¥0.9800). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 74
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
Union Semiconductor (Hefei) Co., Ltd. provides packaging and testing services for integrated circuits to display driver chip design companies in China and internationally. The company provides bump manufacturing (bumping), wafer testing (CP), chip on glass (COG), and chip on film (COF) processing services.
Full company description
Union Semiconductor (Hefei) Co., Ltd. provides packaging and testing services for integrated circuits to display driver chip design companies in China and internationally. The company provides bump manufacturing (bumping), wafer testing (CP), chip on glass (COG), and chip on film (COF) processing services. Its products are used primarily in smartphones, HDTVs, laptops, tablets, automotive electronics, smart wearables, and electronic tags categories. The company was founded in 2015 and is headquartered in Hefei, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Union Semiconductor (Hefei) Co reported revenue of ¥1.8B in FY2025 versus ¥796M in FY2021, a compound +22.4%/yr. Reported net income was ¥155M in FY2025, compounding +2.5%/yr from FY2021.
688403 screens 26% overvalued. Compare with NVIDIA Corporation →
Peer Group
Semiconductors · 319 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 Semiconductors 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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $211.80 | $96.91 | -54% |
| Taiwan Semiconductor Manufacturing Company TSM | $398.37 | $207.49 | -48% |
| Broadcom Inc 1AVGO | €367.75 | €121.25 | -67% |
| Micron Technology, Inc 1MU | €784.90 | €185.67 | -76% |
| SK hynix Inc 000660 | 2,082,000 KRW | 1,109,311 KRW | -47% |
| Advanced Micro Devices, Inc 1AMD | €425.20 | €56.33 | -87% |
| Intel Corporation INTC | C$68.40 | C$9.82 | -86% |
| Texas Instruments Incorporated TXN | $311.46 | $59.75 | -81% |
| MediaTek Inc 2454 | 3,740 TWD | 1,163 TWD | -69% |
| SK Square Co 402340 | 1,212,000 KRW | 868,000 KRW | -28% |
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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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