Shanghai Skychem Technology Co (688603) Fair Value & Analysis
Basic Materials · CN · Market cap 13.6B CNY
Fair value as of: Aug 12, 2026
From 16 valuation models · updated today
Share price −22.5% over the past month.
Below-average quality, and screening another 91% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥12.55). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 12, 2026.
How to read this chart
37‑month range ¥15.78 – ¥25,814 · fair‑value band ¥7.44 – ¥12.55 · the ¥108.50 price screens above the ¥10.17 fair value. Dashed = 300-day average. As of Aug 12, 2026.
Analysis
Shanghai Skychem Technology Co (688603) currently trades at ¥108.50, while our model-based Fair Value estimate is ¥10.17, implying the stock looks roughly 90.6% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Basic Materials 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, Shanghai Skychem Technology Co generated revenue of 514M CNY at a net margin of 19.0%. Revenue grew 42.4% year over year. It earns a return on equity of 8.2%. Fundamentals as of Aug 12, 2026
Our scenario range runs from ¥7.44 (bear case) to ¥12.55 (bull case); at ¥108.50, 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 43% below its 52-week high and 163% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -91%, 688603 screens richer 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 16 models by family
Widest divergence: Growth Earnings (¥12.51) versus Dividend Discount (¥3.22). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 49
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 Skychem Technology Co., Ltd. engages in research and development, production, and sales of functional wet electronic chemicals. The company offers carrier board specialty chemicals, electroless Cu for touch panel and blackening for touch panels, hole metallization, plating, copper surface treatments, and advance packaging products.
Full company description
Shanghai Skychem Technology Co., Ltd. engages in research and development, production, and sales of functional wet electronic chemicals. The company offers carrier board specialty chemicals, electroless Cu for touch panel and blackening for touch panels, hole metallization, plating, copper surface treatments, and advance packaging products. It serves electronic circuit, semiconductor packaging, display, and new energy industries. The company was formerly known as Guangdong Skychem Technology Co., Ltd. and changed its name to Shanghai Skychem Technology Co., Ltd. in July 2025. Shanghai Skychem Technology Co., Ltd. was founded in 2010 and is based in Jinshan, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai Skychem Technology Co reported revenue of ¥471M in FY2025 versus ¥375M in FY2021, a compound +5.8%/yr. Reported net income was ¥86.7M in FY2025, compounding +17.8%/yr from FY2021.
688603 screens 91% overvalued. Compare with Linde plc →
Peer Group
Specialty Chemicals · 670 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 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.
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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $489.98 | $222.03 | -55% |
| Nan Ya Plastics Corporation 1303 | 181.50 TWD | 255.83 TWD | +41% |
| Wanhua Chemical Group 600309 | ¥70.04 | ¥68.03 | -3% |
| Novozymes A/S NSISB | kr 428.20 | kr 179.66 | -58% |
| Asian Paints Limited ASIANPAINT | ₹2,689 | ₹668.81 | -75% |
| Solar Industries India Limited SOLARINDS | ₹18,236 | ₹2,793 | -85% |
| Pidilite Industries Limited PIDILITIND | ₹1,560 | ₹351.84 | -77% |
| PT Chandra Asri Pacific Tbk TPIA | 1,805 IDR | 2,888 IDR | +60% |
| Linde India Limited LINDEINDIA | ₹7,115 | ₹757.93 | -89% |
| Berger Paints India Limited BERGEPAINT | ₹493.70 | ₹164.29 | -67% |
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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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