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Polyrocks Chemical Co (688669) Fair Value & Analysis

Basic Materials · CN · Market cap 8.1B CNY

PC Polyrocks Chemical Co 688669 · SHG
Price¥66.86
Fair Value¥26.74
Upside-60.0%
Quality38/100
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Mixed Growth
Loss-making · -6.2% net margin
Moderate debt · generates free cash flow
Trails peers (2/12)
Narrow moat 12/100
Evidence: Medium Range ¥10.45 – ¥26.74 Share as image

Fair value as of: Aug 12, 2026

From 12 valuation models · updated today

Fair value updated Aug 12, 2026, revised from ¥13.87 to ¥26.74 (+92.8%) since Jul 12, 2026. Share price −23.1% over the past month.

Below-average quality, and screening another 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥26.74). 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.
  • A fairly wide model range (¥10.45 to ¥26.74) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥112.20 ¥9.42 Fair Value ¥26.74 Mar 2021 Aug 2026

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

60‑month range ¥9.42 – ¥112.20 · fair‑value band ¥10.45 – ¥26.74 · the ¥66.86 price screens above the ¥26.74 fair value. Dashed = 300-day average. As of Aug 12, 2026.

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Analysis

Polyrocks Chemical Co (688669) currently trades at ¥66.86, while our model-based Fair Value estimate is ¥26.74, implying the stock looks roughly 60.0% overvalued today. The Quality Score stands at 38/100 (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: medium).

Over the trailing twelve months, Polyrocks Chemical Co generated revenue of 3.6B CNY at a net margin of -6.2%. Revenue declined 29.6% year over year. It earns a return on equity of -16.3%. Net debt stands at 1.7B CNY. Fundamentals as of Aug 12, 2026

Our scenario range runs from ¥10.45 (bear case) to ¥26.74 (bull case); at ¥66.86, 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 near its 52-week high and 280% 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 -60%, 688669 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥7.73 ¥19.70 ¥38.01 80
Rev-Margin DCF ¥5.33 ¥13.28 ¥24.46 74
Gordon GGM ¥8.47 ¥16.87 ¥25.55 70
All 12 models by family
DCF Models
FCF DCF ¥8.13 ¥18.08 ¥42.73 38
5Y Revenue Exit ¥5.33 ¥13.58 ¥25.28 39
5Y EBITDA Exit ¥2.91 ¥8.16 ¥14.89 41
10Y Revenue Exit ¥5.85 ¥14.24 ¥28.28 36
10Y EBITDA Exit ¥4.52 ¥10.16 ¥19.07 37
Dividend Discount
Gordon GGM ¥8.47 ¥16.87 ¥25.55 70
DDM Multi-Stage ¥8.47 ¥14.58 ¥17.81 61
Multiples
EV/EBITDA ¥0.8200 ¥2.58 ¥4.34 54
EV/Revenue ¥3.91 ¥7.51 ¥11.10 43
Asset-Based
NCAV (Graham) ¥4.73 ¥6.33 ¥9.45 50
Growth DCF
Growth DCF ¥7.73 ¥19.70 ¥38.01 80
Rev-Margin DCF ¥5.33 ¥13.28 ¥24.46 74

Widest divergence: Dividend Discount (¥14.58) versus Multiples (¥2.58). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.6B CNY
Revenue growth (YoY) -29.6%
Net margin -6.2%
Return on equity -16.3%
Free cash flow 112M CNY FY2025
Operating margin -2.9%
More key figures
EPS (TTM) ¥-1.84
EPS growth (YoY) -61.6%
Net debt 1.7B CNY FY2025

Figures from reported company fundamentals · as of Aug 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 37 · Market factors (momentum, volatility) 76

Profitability 13
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Polyrocks Chemical Co.,LTD researches, produces, and distributes environmental halogen-free flame retardant plastics in China and internationally. The company offers flame retardant; degradable plastics products, including blown film, extrusion, injection, and 3D printing materials; and glass filled and mineral filled PP products.

Full company description

Polyrocks Chemical Co.,LTD researches, produces, and distributes environmental halogen-free flame retardant plastics in China and internationally. The company offers flame retardant; degradable plastics products, including blown film, extrusion, injection, and 3D printing materials; and glass filled and mineral filled PP products. It also provides polyolefin materials, engineering plastics, functional master batches, and elastomeric products are used in automobiles, smart home appliances, lighting, environmental protection wires, OA equipment, communication electronics, sanitary materials, plastics, televisions, and coatings, etc. The company was founded in 2007 and is headquartered in Qingyuan City, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Polyrocks Chemical Co reported revenue of ¥4.0B in FY2025 versus ¥2.5B in FY2021, a compound +12.0%/yr. Reported net income was −¥119M in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.0B CNY
Latest YoY
−2.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.7%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.1%
Revenue +12.0%/yr
FY21 ¥2.5B
FY22 ¥3.9B
FY23 ¥3.7B
FY24 ¥4.1B
FY25 ¥4.0B
Net income
FY21 ¥83.1M
FY22 ¥44.6M
FY23 ¥28.6M
FY24 −¥236M
FY25 −¥119M

688669 screens 60% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Polyrocks Chemical Co Fair Value". https://www.fairvalue-calculator.com/stock/688669

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.

Quality Score 38 · Bottom 25%
Fair Value upside −60% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) -6% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -30% · Bottom 25%
Debt / equity 0.64× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/B 1.05× · Cheaper than median
P/S (TTM) 0.33× · Cheaper than 75% of peers
P/FCF 10.8× · Pricier than 75% of peers
EV/EBITDA 21.4× · Pricier than 75% of peers

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 · sector 0
FUTURE 0 · sector 20
PAST 0 · sector 23
HEALTH 68 · sector 95
DIVIDEND 0 · sector 25

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.

None of the checked exposures detected

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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Frequently asked questions

Is Polyrocks Chemical Co (688669) overvalued or undervalued?
As of Aug 12, 2026, our model estimates a fair value of ¥26.74 versus a price of ¥66.86, about −60% (overvalued).
What is the fair value of 688669?
Our model-based fair value for Polyrocks Chemical Co is ¥26.74 (as of Aug 12, 2026), built from audited fundamentals. The current price is ¥66.86.
What is the quality score of 688669?
Polyrocks Chemical Co has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Polyrocks Chemical Co (688669)?
Polyrocks Chemical Co reported trailing-twelve-month revenue of about 3.6B CNY (latest available figure, as of Aug 12, 2026).
What is the net profit margin of 688669?
The net profit margin of Polyrocks Chemical Co is about -6.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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