Dawning Information Industry Co Ltd (603019) Fair Value & Analysis
Technology · CN · Market cap 157B CNY (≈ $23.5B) · ISIN CNE100001TW7
What is Dawning Information Industry Co Ltd really worth?
A solid business, but trading 110% above our fair value of ¥39.38.
Strengths
Risks
For context
Fair value as of: Aug 26, 2026
From 26 valuation models · updated 10 days ago
Share price −6.7% over the past month.
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 (¥50.54). The favourable scenario is already priced in.
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥19.83 to ¥50.54) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.
How to read this chart
60‑month range ¥20.48 – ¥125.50 · fair‑value band ¥19.83 – ¥50.54 · the ¥82.69 price screens above the ¥39.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.
Analysis
Dawning Information Industry Co Ltd (603019) currently trades at ¥82.69, while our model-based Fair Value estimate is ¥39.38, implying the stock looks roughly 110.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥38.37 per share, and 0 of the 26 models we run sit above the ¥82.69 price. Bear case: the Dividend Discount group reads lowest at ¥4.49, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Dawning Information Industry Co Ltd generated revenue of 15.6B CNY at a net margin of 14.2%. Revenue grew 23.7% year over year. It earns a return on equity of 9.9%. The balance sheet holds a net cash position of 6.4B CNY. Fundamentals as of Aug 26, 2026
Our scenario range runs from ¥19.83 (bear case) to ¥50.54 (bull case); at ¥82.69, 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 35% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −40% fair-value upside, at −52%, 603019 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.7270 per share, which is 1.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (¥38.37) versus Dividend Discount (¥4.49). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 44
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
Dawning Information Industry Co., Ltd. engages in research, development, and manufacturing of computers, storage, security, and data center products.
Full company description
Dawning Information Industry Co., Ltd. engages in research, development, and manufacturing of computers, storage, security, and data center products. It offers high-end computer products that include rack servers, high-density servers, blade servers, and hyper-converged all-in-one products; storage products, including distributed storage series, centralized all-flash storage series, and disk arrays; network security products, which include traffic analysis and network security platform; cloud computing services; and data center solutions, such as liquid cooling, high-density design, power management, large-scale computing power scheduling platform, and automated operation and maintenance services. The company also provides big data platform, customized development of standard hardware systems to cloud data products, full-stack cloud services, and digital's cold plate products. Dawning Information Industry Co., Ltd. was founded in 2006 and is based in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dawning Information Industry Co Ltd reported revenue of 15.0B CNY in FY2025 versus 11.3B CNY in FY2021, a compound +7.4%/yr. Reported net income was 2.1B CNY in FY2025, compounding +15.8%/yr from FY2021.
of which total revenue +16.4 % · buybacks/dilution −3.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
603019 screens 110% overvalued. Compare with Dell Technologies Inc →
Peer Group
Computer Hardware · 222 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 Computer Hardware median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Dell Technologies Inc DELL | $456.24 | $187.75 | −59% |
| Arista Networks, Inc ANET | $201.09 | $57.72 | −71% |
| Western Digital Corporation WDC | $441.57 | $47.49 | −89% |
| Hygon Information Technology Co 688041 | ¥246.21 | ¥30.66 | −88% |
| Hangzhou Hikvision Digital Technology Co 002415 | ¥35.18 | ¥40.44 | +15% |
| Shenzhen Longsys Electronics Co 301308 | ¥376.88 | ¥91.67 | −76% |
| Lenovo Group 0992 | HK$30.12 | HK$33.70 | +12% |
| HP Inc HPQ | $30.52 | $48.62 | +59% |
| Inspur Electronic Information Industry Co 000977 | ¥73.79 | ¥44.02 | −40% |
| Super Micro Computer, Inc SMCI | $38.46 | $37.09 | −4% |
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