Hefei Kewell Power System Co (688551) Fair Value & Analysis
Technology · CN · Market cap 6.4B CNY
Fair value as of: Jul 12, 2026
From 25 valuation models · updated 29 days ago
Fair value updated Jul 12, 2026, revised from ¥11.91 to ¥21.44 (+80.0%) since Jun 24, 2026. Share price −26.0% over the past month.
A solid business, but screening 47% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥26.80). The favourable scenario is already priced in.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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 ¥17.76 – ¥77.20 · fair‑value band ¥16.07 – ¥26.80 · the ¥40.10 price screens above the ¥21.44 fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Hefei Kewell Power System Co (688551) currently trades at ¥40.10, while our model-based Fair Value estimate is ¥21.44, implying the stock looks roughly 46.5% overvalued today. The Quality Score stands at 58/100 (solid 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, Hefei Kewell Power System Co generated revenue of 495M CNY at a net margin of 10.3%. Revenue declined 16.8% year over year. It earns a return on equity of 3.9%. The balance sheet holds a net cash position of 415M CNY. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥16.07 (bear case) to ¥26.80 (bull case); at ¥40.10, 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 41% below its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -47%, 688551 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 25 models by family
Widest divergence: Growth Earnings (¥13.73) versus Dividend Discount (¥4.66). Highest evidence: Residual Income (76).
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 60 · Market factors (momentum, volatility) 69
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
Hefei Kewell Power System Co.,Ltd. provides test systems and intelligent manufacturing equipment in China and internationally. The company offers test power supply products, hydrogen energy testing and intelligent manufacturing equipment, and power semiconductor testing and intelligent manufacturing equipment.
Full company description
Hefei Kewell Power System Co.,Ltd. provides test systems and intelligent manufacturing equipment in China and internationally. The company offers test power supply products, hydrogen energy testing and intelligent manufacturing equipment, and power semiconductor testing and intelligent manufacturing equipment. It also provides AI server power system testing, photovoltaic energy storage testing, new energy vehicle testing, fuel cell testing system, electrolytic cell testing system, power semiconductor test, and semiconductor packaging process equipment solutions; and technical, quality, and customer support services. The company exports its products to Europe, Japan, South Korea, and other Southeast Asian countries and regions. Its products are used in new energy power generation, electric vehicles, hydrogen energy, power semiconductors, rail transportation, automotive electronics, intelligent manufacturing, electromechanical equipment, aerospace, and laboratory certification industries. The company was founded in 2011 and is headquartered in Hefei, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hefei Kewell Power System Co reported revenue of ¥514M in FY2025 versus ¥248M in FY2021, a compound +20.0%/yr. Reported net income was ¥64.9M in FY2025, compounding +3.3%/yr from FY2021.
688551 screens 47% overvalued. Compare with Delta Electronics, Inc →
Peer Group
Electronic Components · 626 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 Electronic Components 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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Electronics, Inc 2308 | 1,880 TWD | 515.23 TWD | -73% |
| Hon Hai Precision Industry Co 2317 | 242.50 TWD | 270.47 TWD | +12% |
| Luxshare Precision Industry Co 002475 | ¥62.14 | ¥38.44 | -38% |
| Samsung Electro-Mechanics Co 009150 | 1,260,000 KRW | 166,421 KRW | -87% |
| Elite Material Co 2383 | 4,990 TWD | 714.36 TWD | -86% |
| Yageo Corporation 2327 | 699.00 TWD | 216.55 TWD | -69% |
| Shengyi Technology Co 600183 | ¥132.29 | ¥27.45 | -79% |
| Shennan Circuits Co 002916 | ¥364.00 | ¥93.50 | -74% |
| Victory Giant Technology (HuiZhou) Co 2476 | HK$297.00 | HK$103.98 | -65% |
| Wus Printed Circuit (Kunshan) Co 002463 | ¥127.80 | ¥31.95 | -75% |
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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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