Shanghai Chemspec Corporation (688602) Fair Value & Analysis
Basic Materials · CN · Market cap 3.9B CNY
Fair value as of: Jul 12, 2026
From 12 valuation models · updated 29 days ago
Fair value updated Jul 12, 2026, revised from ¥5.56 to ¥10.58 (+90.2%) since Jun 24, 2026. Share price −10.4% over the past month.
Below-average quality, screening 60% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (¥8.96). The market is more pessimistic than our downside scenario.
Price vs Fair Value (3 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
37‑month range ¥5.69 – ¥15.65 · fair‑value band ¥8.96 – ¥12.19 · the ¥6.61 price screens below the ¥10.58 fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Shanghai Chemspec Corporation (688602) currently trades at ¥6.61, while our model-based Fair Value estimate is ¥10.58, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, Shanghai Chemspec Corporation generated revenue of 676M CNY at a net margin of -15.9%. Revenue declined 38.4% year over year. It earns a return on equity of -3.9%. Fundamentals as of Jul 12, 2026
Our scenario range runs from ¥8.96 (bear case) to ¥12.19 (bull case); at ¥6.61, the current price sits below 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 60%, 688602 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 12 models by family
Widest divergence: Asset-Based (¥3.50) versus Dividend Discount (¥0.0900). 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 46 · Market factors (momentum, volatility) 27
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
Shanghai Chemspec Corporation engages in the research, development, production, and sale of fine chemicals. It offers display material, new energy battery material, silicon and organosilicon materials, electronic chemical, functional materials, other special chemicals. The company also provides pharmaceutical and pesticide chemicals.
Full company description
Shanghai Chemspec Corporation engages in the research, development, production, and sale of fine chemicals. It offers display material, new energy battery material, silicon and organosilicon materials, electronic chemical, functional materials, other special chemicals. The company also provides pharmaceutical and pesticide chemicals. The company was founded in 1996 and is headquartered in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai Chemspec Corporation reported revenue of ¥770M in FY2025 versus ¥1.0B in FY2021, a compound −6.4%/yr. Reported net income was −¥64.2M in FY2025.
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Peer Group
Chemicals · 334 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 Chemicals 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.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BASF SE BASN | 1,034 MXN | 532.13 MXN | -49% |
| Ningxia Baofeng Energy Group 600989 | ¥20.32 | ¥20.17 | -1% |
| Zhejiang Juhua Co 600160 | ¥42.85 | ¥23.35 | -46% |
| PT Barito Pacific Tbk, BRPT | 1,690 IDR | 1,628 IDR | -4% |
| LG Chem, Ltd 051910 | 260,500 KRW | 587,755 KRW | +126% |
| Formosa Chemicals & Fibre Corporation 1326 | 66.10 TWD | 6.79 TWD | -90% |
| PTT Global Chemical Public Company PTTGC | 35.50 THB | 18.21 THB | -49% |
| 542812 542812 | ₹4,369 | ₹791.05 | -82% |
| Indorama Ventures Public Company IVL | 24.50 THB | 17.95 THB | -27% |
| Navin Fluorine International Limited NAVINFLUOR | ₹8,650 | ₹2,146 | -75% |
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Frequently asked questions
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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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