Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) fair value: what the stock is really worth
We calculate from audited financials what Jiangyin Jianghua Microelectronics Materials Co Ltd 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.
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JJJiangyin Jianghua Microelectronics Materials Co Ltd603078 · SHG
Price¥31.50
Fair Value¥7.14
Upside−77.3%
Quality62/100
A solid business, but trading 341% above our fair value of ¥7.14.
As of Sep 3, 2026, the fair value of Jiangyin Jianghua Microelectronics Materials Co Ltd is ¥7.14 per share against a price of ¥31.50, so the fair value sits 77% below the price. A model estimate from reported figures, not an analyst target.
!Mixed Growth (revenue 5y +17.0 %/yr)
!Thin margins · 8.3% net margin
✓Low debt · generates free cash flow
·0.29% dividend yield
!Trails peers (3/14)
!Narrow moat 40/100
!Weak on past: 22 out of 100
!Weak on dividend: 6 out of 100
Evidence: HighRange ¥3.93 to ¥9.51
Fair value as of: Sep 3, 2026
From 26 valuation models · updated 8 days ago
Share price −11.7% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price sits above even our optimistic bull case (¥9.51). The favourable scenario is already priced in.
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
A fairly wide model range (¥3.93 to ¥9.51) 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 Sep 3, 2026.
How to read this chart
60‑month range ¥9.95 – ¥57.70 · fair‑value band ¥3.93 – ¥9.51 · the ¥31.50 price screens above the ¥7.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) currently trades at ¥31.50, while our model-based Fair Value estimate is ¥7.14, implying the stock looks roughly 341.1% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥6.56 per share, and 0 of the 26 models we run sit above the ¥31.50 price. Bear case: the Dividend Discount group reads lowest at ¥2.00, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Jiangyin Jianghua Microelectronics Materials Co Ltd generated revenue of 1.3B CNY at a net margin of 8.3%. Revenue grew 16.9% year over year. It earns a return on equity of 5.5%. Net debt stands at 29.0M CNY. Fundamentals as of Sep 3, 2026
Scenario range: ¥3.93 (bear) to ¥9.51 (bull), the price of ¥31.50 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 35% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at −77%, 603078 screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥0.1322 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 →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio112.5
P/S ratio9.56P/E × margin
EPS (TTM)¥0.2800price ÷ EPS = P/E 112.5
Dividend yield0.3%payout 32.1%
Net margin8.5%FY2025
Return on equity5.5%TTM
More key figures
Profitability
Return on assets (EBIT)3.5%avg 5y
Operating margin11.2%TTM
Growth
Revenue (TTM)1.3B CNYTTM
Revenue growth (YoY)+16.9%3y avg +9.5%
EPS growth (YoY)+7.3%
Balance sheet & cash flow
Free cash flow44.2M CNYFY2025
Net debt29.0M CNYFY2024 · ≈ 0.7 yrs of FCF
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality62/100
Of which business quality 61
· Market factors (momentum, volatility) 59
Profitability32
Margins and returns on capital today
Quality Growth59
Are margins and returns improving?
Cashflow42
Earnings quality: real cash, not paper profit
Fin. Strength92
Balance sheet, leverage, solvency risk
Investment73
Disciplined investing over empire-building
Low Volatility42
Calm price path (market factor)
Momentum66
Price trend over the last 3–12 months (market factor)
52W Momentum67
Distance to the 52-week high (market factor)
Net Issuance81
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
Jiangyin Jianghua Microelectronics Materials Co., Ltd engages in the research and development, production, and sale of ultra-clean high-purity reagents, photoresist supporting reagents, and other wet electronic chemicals in China.
Full company description
Jiangyin Jianghua Microelectronics Materials Co., Ltd engages in the research and development, production, and sale of ultra-clean high-purity reagents, photoresist supporting reagents, and other wet electronic chemicals in China. The company offers general chemicals, including acids and bases, solvents, and other products; functional chemicals, such as developing and rinsing solutions, stripping fluid, cleaning agent, and etching products. Its products are applied in integrated circuits, display panel, and crystalline silicon cells areas. The company was founded in 2001 and is based in Jiangyin, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Jiangyin Jianghua Microelectronics Materials Co Ltd reported revenue of 1.2B CNY in FY2025 versus 792M CNY in FY2021, a compound +11.7%/yr. Reported net income was 105M CNY in FY2025, compounding +16.7%/yr from FY2021.
Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.2B CNY
Latest YoY
+12.2%
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.
+9.5%
Avg. revenue 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.
+17.0%
Avg. revenue growth/yr (13Y) ⓘ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.
+12.0%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+10.1%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+9.8%
Dividend yield0.3%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 9.8% vs 10Y −0.3%, picking up
Operating margin (EBIT) ⓘ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.12.0% (2020) → 10.4% (2025) · falling
Worst earnings drop57% (2018) · in CNY
Revenue+11.7%/yr
FY21792M CNY
FY22939M CNY
FY231.0B CNY
FY241.1B CNY
FY251.2B CNY
Net income+16.7%/yr
FY2156.5M CNY
FY22106M CNY
FY23105M CNY
FY2498.6M CNY
FY25105M CNY
Character of growth · EPS growth decomposed (2013-2024)+2.7 % p.a.
Revenue per share+7.7 %
of which total revenue +14.0 % · buybacks/dilution −5.5 %
EBIT margin−9.3 %
Tax rate+1.0 %
Residual (interest, one-offs)+4.0 %
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).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Jiangyin Jianghua Microelectronics Materials Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603078
Peer Group
Semiconductor Equipment & Materials · 216 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
Quality Score62 · Above median
Fair Value upside−77% · Bottom 25%
Profitability
Return on equity (TTM)5% · Below median
Return on assets3% · Below median
Net margin (TTM)8% · Below median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth17% · Above median
Dividend yield (TTM)0.3% · Bottom 25%
Balance sheet
Debt / equity0.22× · Above median
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
P/E (TTM)112.5× · Priciest 25%
P/B7.14× · Pricier than median
P/S (TTM)10.96× · Priciest 25%
P/FCF47.3× · Priciest 25%
EV/EBITDA57.9× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Jiangyin Jianghua Microelectronics Materials Co Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+42.9 % per year
Achieved revenue growth, 5 years+17.0 % p.a.
Sector median revenue growth+8.3 %
FCF yield on price0.36 %
Discount rate (WACC) in the models9.1 %
The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →
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.
This stockSector peers
VALUE0· sector 0
FUTURE85· sector 63
PAST22· sector 30
HEALTH89· sector 96
DIVIDEND6· 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 3, 2026).
Is Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of ¥7.14 versus a price of ¥31.50, about −77% upside (overvalued).
What is the fair value of 603078?
Our model-based fair value for Jiangyin Jianghua Microelectronics Materials Co Ltd is ¥7.14 (as of Sep 3, 2026), built from audited fundamentals. The current price: ¥31.50.
What is the quality score of 603078?
Jiangyin Jianghua Microelectronics Materials Co Ltd has a Quality Score of 62/100. 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 Jiangyin Jianghua Microelectronics Materials Co Ltd (603078)?
Our model-based price target is the fair value of ¥7.14 (as of Sep 3, 2026) from 26 valuation models. Cautious scenario ¥3.93, optimistic scenario ¥9.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Jiangyin Jianghua Microelectronics Materials Co Ltd stock forecast for 2026?
Our models put fair value at ¥7.14, about −77% upside versus a price of ¥31.50 (overvalued). Cautious scenario ¥3.93, optimistic scenario ¥9.51. The calculation is refreshed regularly with new filings.
What is the revenue of Jiangyin Jianghua Microelectronics Materials Co Ltd (603078)?
Jiangyin Jianghua Microelectronics Materials Co Ltd reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 603078?
The net profit margin of Jiangyin Jianghua Microelectronics Materials Co Ltd is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Jiangyin Jianghua Microelectronics Materials Co Ltd pay a dividend?
Jiangyin Jianghua Microelectronics Materials Co Ltd currently shows a dividend yield of about 0.29% relative to its recent price (as of Sep 3, 2026).
What growth is priced into Jiangyin Jianghua Microelectronics Materials Co Ltd (603078)?
For today's price to be fair in a discounted-cash-flow model, Jiangyin Jianghua Microelectronics Materials Co Ltd would have to grow free cash flow by +42.9 % per year for ten years (discount rate 9.1 %, then 2 % perpetual growth). Over the last 5 years revenue grew +17.0 % per year. As of Sep 3, 2026.
What discount rate (WACC) does the fair value of 603078 use?
Our models discount Jiangyin Jianghua Microelectronics Materials Co Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.41, country premium for China. The same rate applies in all 26 models.
What is the intrinsic value of Jiangyin Jianghua Microelectronics Materials Co Ltd (603078)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jiangyin Jianghua Microelectronics Materials Co Ltd it is ¥7.14 per share (as of Sep 3, 2026), against a price of ¥31.50. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Jiangyin Jianghua Microelectronics Materials Co Ltd stock overvalued or undervalued in 2026?
As of Sep 3, 2026, 603078 trades above its calculated fair value: price ¥31.50, fair value ¥7.14, a gap of about −77% (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 603078?
No. The price is what the market pays today (¥31.50); the fair value is what the company's own numbers justify (¥7.14). For Jiangyin Jianghua Microelectronics Materials Co Ltd the two are ¥24.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jiangyin Jianghua Microelectronics Materials Co Ltd worth?
The market values Jiangyin Jianghua Microelectronics Materials Co Ltd at about 14.0B CNY (market capitalisation, as of Sep 3, 2026). Per share that is ¥31.50; our models calculate a fair value of ¥7.14 per share.
What do the bullish and bearish scenarios say about 603078?
Our models span a range for Jiangyin Jianghua Microelectronics Materials Co Ltd: cautious scenario ¥3.93, base ¥7.14, optimistic ¥9.51 per share (as of Sep 3, 2026, price ¥31.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603078?
Jiangyin Jianghua Microelectronics Materials Co Ltd trades at a price-to-earnings ratio of 112.5 (as of Sep 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥7.14 is built from several models across several years. Other multiples: P/B 7.1, P/S 11.0, EV/EBITDA 57.9.
How solid is the balance sheet of Jiangyin Jianghua Microelectronics Materials Co Ltd (603078)?
Balance-sheet figures for Jiangyin Jianghua Microelectronics Materials Co Ltd (as of Sep 3, 2026): return on equity 5.5%, debt of 0.22 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 603078 from its 52-week high?
Jiangyin Jianghua Microelectronics Materials Co Ltd trades at ¥31.50, about 35% below its 52-week high of ¥48.22 and 84% above the low of ¥17.12 (as of Sep 3, 2026). Distance from the high says nothing about value: that is what the fair value of ¥7.14 is for.
Which stocks are comparable to Jiangyin Jianghua Microelectronics Materials Co Ltd?
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 Jiangyin Jianghua Microelectronics Materials Co Ltd stock attractive at the current price?
The data as of Sep 3, 2026: price ¥31.50, calculated fair value ¥7.14 (−77%), Quality Score 62/100, from 26 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 603078 calculated?
We run Jiangyin Jianghua Microelectronics Materials Co Ltd through 26 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 ¥7.14, 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. Jiangyin Jianghua Microelectronics Materials Co Ltd 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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