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Data-driven stock valuation

SJ Semiconductor Corporation (688820) fair value: what the stock is really worth

We calculate from audited financials what SJ Semiconductor Corporation is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · CN · Market cap 235B CNY (≈ $35.1B)

At a glance

SS SJ Semiconductor Corporation 688820 · SHG
Price¥126.38
Fair Value¥13.84
Upside−89.1%
Quality45/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Below-average quality, and trading another 813% above our fair value of ¥13.84.

As of Sep 11, 2026, the fair value of SJ Semiconductor Corporation is ¥13.84 per share against a price of ¥126.38, so the fair value sits 89% below the price. A model estimate from reported figures, not an analyst target.

!Expensive Growth (revenue 3y +58.7 %/yr)
Solidly profitable · 13.9% net margin
!Low debt · negative free cash flow
!Trails peers (1/13)
!Moderate moat 47/100
!Weak on future: 10 out of 100
!Weak on dividend: 1 out of 100
Evidence: High Range ¥10.38 to ¥17.30

Fair value as of: Sep 11, 2026

From 16 valuation models · updated today

Share price −8.1% over the past month.

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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥17.30). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 months)

¥229.00 ¥76.65 Fair Value ¥13.84 Apr 2026 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 11, 2026.

How to read this chart

5‑month range ¥76.65 – ¥229.00 · fair‑value band ¥10.38 – ¥17.30 · the ¥126.38 price screens above the ¥13.84 fair value. As of Sep 11, 2026.

Full chart & analysis →

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Analysis

SJ Semiconductor Corporation (688820) currently trades at ¥126.38, while our model-based Fair Value estimate is ¥13.84, implying the stock looks roughly 813.2% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥24.97 per share, and 0 of the 16 models we run sit above the ¥126.38 price. Bear case: the Dividend Discount group reads lowest at ¥1.47, and 16 of the 16 models stay below the price. Evidence for this calculation is high.

Net debt stands at 21.5M CNY. Fundamentals as of Sep 11, 2026

Scenario range: ¥10.38 (bear) to ¥17.30 (bull), the price of ¥126.38 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 46% below its 52-week high and 69% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at −89%, 688820 screens richer than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥0.3827 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥1.47 to ¥30.65). Read the values as a conservative anchor, not as a price target.
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
EPV ¥6.40 ¥7.26 ¥8.03 71
Residual Income ¥6.25 ¥6.53 ¥6.89 71
EV/EBITDA ¥23.37 ¥30.65 ¥37.94 67
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.36 ¥23.43 ¥32.89 59
Lynch FV ¥12.11 ¥17.30 ¥22.48 57
PEG = 1.0 ¥12.11 ¥17.30 ¥22.48 53
EPV ¥6.40 ¥7.26 ¥8.03 71
Dividend Discount
Gordon GGM ¥0.8200 ¥1.79 ¥3.02 61
DDM Multi-Stage ¥0.8200 ¥1.47 ¥1.87 62
Multiples
P/E Multiple ¥10.38 ¥13.84 ¥17.30 63
P/S Multiple ¥6.30 ¥8.40 ¥10.50 58
P/B Multiple ¥6.30 ¥8.40 ¥10.50 55
EV/EBIT ¥12.65 ¥16.37 ¥20.08 66
EV/EBITDA ¥23.37 ¥30.65 ¥37.94 67
EV/Revenue ¥7.14 ¥9.56 ¥11.97 54
Asset-Based
NCAV (Graham) ¥3.87 ¥5.19 ¥7.75 54
Economic Profit
Residual Income ¥6.25 ¥6.53 ¥6.89 71
ROIC Compounder ¥6.40 ¥7.26 ¥8.58 67
Growth Earnings
Growth-Adj P/E ¥17.48 ¥24.97 ¥32.47 63

Widest divergence: Growth Earnings (¥24.97) versus Dividend Discount (¥1.47). Highest evidence: EPV (71).

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Key figures & financial health

P/E ratio 229.8 as of Sep 11, 2026
P/S ratio 32.4 P/E × margin
EPS (TTM) ¥0.5500 price ÷ EPS = P/E 229.8
Net margin 14.1% FY2025
Return on assets (EBIT) 1.2% avg 4y
Free cash flow −936M CNY FY2025
More key figures
Balance sheet & cash flow
Net debt 21.5M CNY FY2022

Figures from reported company fundamentals · as of Sep 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 49 · Market factors (momentum, volatility) 29

Profitability 32
Margins and returns on capital today
Quality Growth 90
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 15
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

SJ Semiconductor Corporation operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally. It focuses on the mid-stage silicon wafer processing and back-end advanced packaging segments of the integrated circuit advanced packaging and testing industry.

Full company description

SJ Semiconductor Corporation operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally. It focuses on the mid-stage silicon wafer processing and back-end advanced packaging segments of the integrated circuit advanced packaging and testing industry. It provides middle-end-of-line manufacturing and testing services, as well as develops advanced 3D Multi-Die integration technology and solutions. The company offers integrated circuit chips. Its products include bumping include copper pillar bump, copper pillar micro bump, copper-nickel-gold micro bumps, tin silver bumps, and ball implant bump; wafer testing; multi-chip integrated packaging. It provides mid-section bump, wafer testing, wafer-level chip packaging, and research and development services. The company was founded in 2014 and is based in Jiangyin, China.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

SJ Semiconductor Corporation reported revenue of 6.5B CNY in FY2025 versus 1.6B CNY in FY2022, a compound +58.7%/yr. Reported net income was 921M CNY in FY2025.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
6.5B CNY
Latest YoY
+38.6%
Avg. revenue 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.
+58.7%
EBIT margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−14.1% (2022) → 17.7% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Revenue +58.7%/yr
FY22 1.6B CNY
FY23 3.0B CNY
FY24 4.7B CNY
FY25 6.5B CNY
Net income
FY22 −329M CNY
FY23 34.1M CNY
FY24 214M CNY
FY25 921M CNY

688820 screens 813% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "SJ Semiconductor Corporation Fair Value". https://www.fairvalue-calculator.com/stock/688820

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE10 · sector 63
PAST0 · sector 30
HEALTH89 · sector 96
DIVIDEND1 · sector 17

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

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Sep 11, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,500 €604.27 −60%
Applied Materials, Inc AMAT $454.71 $183.10 −60%
Lam Research Corporation LRCX $307.65 $91.80 −70%
KLA Corporation KLAC $185.60 $74.58 −60%
NAURA Technology Group 002371 ¥707.90 ¥205.30 −71%
Teradyne, Inc TER $357.03 $65.80 −82%
Advanced Micro-Fabrication Equipment Inc 688012 ¥335.42 ¥55.05 −84%
Piotech Inc 688072 ¥685.11 ¥89.27 −87%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD −72%
Hangzhou Changchuan Technology Co 300604 ¥284.80 ¥46.26 −84%

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Frequently asked questions

Is SJ Semiconductor Corporation (688820) overvalued or undervalued?
As of Sep 11, 2026, our model estimates a fair value of ¥13.84 versus a price of ¥126.38, about −89% upside (overvalued).
What is the fair value of 688820?
Our model-based fair value for SJ Semiconductor Corporation is ¥13.84 (as of Sep 11, 2026), built from audited fundamentals. The current price: ¥126.38.
What is the quality score of 688820?
SJ Semiconductor Corporation has a Quality Score of 45/100. 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 price target for SJ Semiconductor Corporation (688820)?
Our model-based price target is the fair value of ¥13.84 (as of Sep 11, 2026) from 16 valuation models. Cautious scenario ¥10.38, optimistic scenario ¥17.30. It is a calculation from audited fundamentals, not an analyst target.
What is the SJ Semiconductor Corporation stock forecast for 2026?
Our models put fair value at ¥13.84, about −89% upside versus a price of ¥126.38 (overvalued). Cautious scenario ¥10.38, optimistic scenario ¥17.30. The calculation is refreshed regularly with new filings.
What is the net profit margin of 688820?
The net profit margin of SJ Semiconductor Corporation is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
What is the intrinsic value of SJ Semiconductor Corporation (688820)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SJ Semiconductor Corporation it is ¥13.84 per share (as of Sep 11, 2026), against a price of ¥126.38. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is SJ Semiconductor Corporation stock overvalued or undervalued in 2026?
As of Sep 11, 2026, 688820 trades above its calculated fair value: price ¥126.38, fair value ¥13.84, a gap of about −89% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688820?
No. The price is what the market pays today (¥126.38); the fair value is what the company's own numbers justify (¥13.84). For SJ Semiconductor Corporation the two are ¥112.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is SJ Semiconductor Corporation worth?
The market values SJ Semiconductor Corporation at about 235B CNY (market capitalisation, as of Sep 11, 2026). Per share that is ¥126.38; our models calculate a fair value of ¥13.84 per share.
What do the bullish and bearish scenarios say about 688820?
Our models span a range for SJ Semiconductor Corporation: cautious scenario ¥10.38, base ¥13.84, optimistic ¥17.30 per share (as of Sep 11, 2026, price ¥126.38). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 688820 from its 52-week high?
SJ Semiconductor Corporation trades at ¥126.38, about 46% below its 52-week high of ¥235.32 and 69% above the low of ¥75.00 (as of Sep 11, 2026). Distance from the high says nothing about value: that is what the fair value of ¥13.84 is for.
Which stocks are comparable to SJ Semiconductor Corporation?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SJ Semiconductor Corporation stock attractive at the current price?
The data as of Sep 11, 2026: price ¥126.38, calculated fair value ¥13.84 (−89%), Quality Score 45/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688820 calculated?
We run SJ Semiconductor Corporation through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥13.84, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. SJ Semiconductor Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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