Shenzhen United Winners Laser Co (688518) Fair Value & Analysis

Industrials · CN · Market cap 8.6B CNY

Below-average quality, and screening another 24% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥18.84). The favourable scenario is already priced in.
• Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 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

60‑month range ¥11.16 – ¥51.75 · fair‑value band ¥11.70 – ¥18.84 · the ¥20.08 price screens above the ¥15.28 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Shenzhen United Winners Laser Co (688518) currently trades at ¥20.08, while our model-based Fair Value estimate is ¥15.28, implying the stock looks roughly 23.9% overvalued today. The Quality Score stands at 38/100 (below-average 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: medium).

Over the trailing twelve months, Shenzhen United Winners Laser Co generated revenue of 3.3B CNY at a net margin of 5.1%. Revenue grew 1.7% year over year. It earns a return on equity of 4.9%. The balance sheet holds a net cash position of 198M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥11.70 (bear case) to ¥18.84 (bull case); at ¥20.08, 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 40% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -24%, 688518 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.

Widest divergence: Growth Earnings (¥16.72) versus Dividend Discount (¥2.60). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Shenzhen United Winners Laser Co., Ltd. manufactures and sells laser welding equipment in China and internationally. The company lasers and welding machines; intelligent manufacturing equipment for EV batteries, automobiles, consumer electronics batteries, sensors, relays, and hydrogen fuel cells; welding equipment for the optical communication industry; …

Full company description

Shenzhen United Winners Laser Co., Ltd. manufactures and sells laser welding equipment in China and internationally. The company lasers and welding machines; intelligent manufacturing equipment for EV batteries, automobiles, consumer electronics batteries, sensors, relays, and hydrogen fuel cells; welding equipment for the optical communication industry; welding equipment for medical devices; laser soldering equipment; and laser plastic welding equipment. Its products are used in power batteries, optical communications, computers, home appliances, solar energy, auto parts, kitchen and bathroom hardware, and laser processing fields. The company was founded in 2005 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 United Winners Laser Co reported revenue of ¥3.3B in FY2025 versus ¥1.4B in FY2021, a compound +23.5%/yr. Reported net income was ¥172M in FY2025, compounding +17.0%/yr from FY2021.

688518 screens 24% overvalued. Compare with GE Vernova Inc →

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.

Valuation Multiples vs Specialty Industrial Machinery 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.

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.

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Frequently asked questions

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.