Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) Fair Value & Analysis
Technology · CN · Market cap 14.0B CNY (≈ $2.1B) · ISIN CNE100002Y17
What is Jiangyin Jianghua Microelectronics Materials Co Ltd really worth?
A solid business, but trading 342% above our fair value of ¥7.14.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 26 valuation models · updated yesterday
Share price +1.4% 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 (¥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 ¥31.53 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.
Analysis
Jiangyin Jianghua Microelectronics Materials Co Ltd (603078) currently trades at ¥31.53, while our model-based Fair Value estimate is ¥7.14, implying the stock looks roughly 341.5% 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 ¥31.53 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
Our scenario range runs from ¥3.93 (bear case) to ¥9.51 (bull case); at ¥31.53, 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 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
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.1286 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: Growth Earnings (¥6.56) versus Dividend Discount (¥2.00). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 58
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.
of which total revenue +14.0 % · buybacks/dilution −5.5 %
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).
603078 screens 342% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 213 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 Semiconductor Equipment & Materials 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | €1,494 | €604.27 | −60% |
| Applied Materials, Inc AMAT | $482.36 | $183.10 | −62% |
| Lam Research Corporation LRCX | $301.90 | $91.80 | −70% |
| KLA Corporation KLAC | $175.54 | $74.58 | −58% |
| NAURA Technology Group 002371 | ¥707.90 | ¥205.30 | −71% |
| Teradyne, Inc TER | $354.97 | $65.80 | −81% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥380.95 | ¥55.05 | −86% |
| 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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