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HMT(Xiamen)New Technical (603306) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 25.7B CNY (≈ $3.8B) · ISIN CNE100001T07

What is HMT(Xiamen)New Technical really worth?

HX HMT(Xiamen)New Technical 603306 · SHG
Price¥71.57
Fair Value¥11.85
Upside−83.4%
Quality44/100

Below-average quality, and trading another 504% above our fair value of ¥11.85.

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Strengths

Low debt · generates free cash flow

Risks

!Expensive Growth (revenue 5y +21.4 %/yr)
!Thin margins · 5.8% net margin
!Trails peers (2/14)
!Narrow moat 27/100
!Evidence only low, so the estimate is less certain
!Weak on past: 15 out of 100
!Weak on dividend: 2 out of 100

For context

·0.11% dividend yield
Evidence: Low Range ¥8.28 – ¥16.64

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 22 days ago

Share price +6.1% 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 (¥16.64). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (¥8.28 to ¥16.64) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

¥118.39 ¥15.53 Fair Value ¥11.85 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥15.53 – ¥118.39 · fair‑value band ¥8.28 – ¥16.64 · the ¥71.57 price screens above the ¥11.85 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HMT(Xiamen)New Technical (603306) currently trades at ¥71.57, while our model-based Fair Value estimate is ¥11.85, implying the stock looks roughly 503.9% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of ¥15.36 per share, and 0 of the 22 models we run sit above the ¥71.57 price. Bear case: the Dividend Discount group reads lowest at ¥2.29, and 22 of the 22 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, HMT(Xiamen)New Technical generated revenue of 2.5B CNY at a net margin of 5.8%. Revenue declined 4.6% year over year. It earns a return on equity of 3.9%. Net debt stands at 761M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥8.28 (bear case) to ¥16.64 (bull case); at ¥71.57, 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 40% below its 52-week high and 83% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −26% fair-value upside, at −83%, 603306 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 ¥0.1759 per share, which is 1.2 % 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.

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 (¥2.29 to ¥25.01). 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
Residual Income best evidence ¥8.27 ¥8.58 ¥8.86 76
EPV ¥3.75 ¥4.76 ¥5.64 74
ROIC Compounder ¥3.75 ¥4.76 ¥5.64 72
All 22 models by family
DCF Models
5Y Revenue Exit ¥2.21 ¥7.52 ¥15.28 67
5Y EBITDA Exit ¥6.25 ¥16.32 ¥29.86 71
5Y P/E Exit ¥4.88 ¥13.34 ¥23.72 67
10Y Revenue Exit ¥0.5500 ¥5.16 ¥13.28 57
10Y EBITDA Exit ¥3.52 ¥11.82 ¥26.19 62
10Y P/E Exit ¥2.59 ¥9.57 ¥20.75 58
Earnings-Based
Graham-Dodd ¥4.49 ¥25.01 ¥34.72 63
Lynch FV ¥6.99 ¥9.98 ¥12.97 61
PEG = 1.0 ¥6.99 ¥9.98 ¥12.97 57
EPV ¥3.75 ¥4.76 ¥5.64 74
Dividend Discount
Gordon GGM ¥1.30 ¥2.71 ¥4.30 66
DDM Multi-Stage ¥1.30 ¥2.29 ¥2.85 66
Multiples
P/E Multiple ¥10.90 ¥14.54 ¥18.17 63
P/S Multiple ¥6.84 ¥9.12 ¥11.40 58
P/B Multiple ¥8.43 ¥11.24 ¥14.04 55
EV/EBIT ¥9.08 ¥12.87 ¥16.66 65
EV/EBITDA ¥10.69 ¥15.02 ¥19.35 67
EV/Revenue ¥4.09 ¥6.83 ¥9.56 52
Asset-Based
NCAV (Graham) ¥5.20 ¥6.97 ¥10.41 54
Economic Profit
Residual Income best evidence ¥8.27 ¥8.58 ¥8.86 76
ROIC Compounder ¥3.75 ¥4.76 ¥5.64 72
Growth Earnings
Growth-Adj P/E ¥10.75 ¥15.36 ¥19.96 67

Widest divergence: Growth Earnings (¥15.36) versus Dividend Discount (¥2.29). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 204.5
P/S ratio 17.8 P/E × margin
EPS (TTM) ¥0.3500 price ÷ EPS = P/E 204.5
Dividend yield 0.1% payout 22.9%
Net margin 8.7% FY2025
Return on equity 3.9% TTM
More key figures
Profitability
Return on assets (EBIT) 5.7% avg 5y
Operating margin 2.0% TTM
Growth
Revenue (TTM) 2.5B CNY TTM
Revenue growth (YoY) −4.6% 3y avg +15.2%
EPS growth (YoY) −87.1%
Balance sheet & cash flow
Free cash flow 1.1M CNY FY2025
Net debt 761M CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 48 · Market factors (momentum, volatility) 45

Profitability 32
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 42
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

HMT (Xiamen) New Technical Materials Co., Ltd. researches, develops, produces, and sells fabrics in China and internationally. It offers automotive safety airbag fabrics, airbags/OPWs, seat belts, bulletproof fabrics, mesh clothes and other industrial fabrics.

Full company description

HMT (Xiamen) New Technical Materials Co., Ltd. researches, develops, produces, and sells fabrics in China and internationally. It offers automotive safety airbag fabrics, airbags/OPWs, seat belts, bulletproof fabrics, mesh clothes and other industrial fabrics. The company was formerly known as Huamao (Xiamen) Technical Textile Co., Ltd and changed its name to HMT (Xiamen) New Technical Materials Co., Ltd in 2010. HMT (Xiamen) New Technical Materials Co., Ltd was founded in 2002 and is based in Xiamen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HMT(Xiamen)New Technical reported revenue of 2.5B CNY in FY2025 versus 1.2B CNY in FY2021, a compound +20.0%/yr. Reported net income was 218M CNY in FY2025, compounding +5.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.5B CNY
Latest YoY
+13.1%
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.
+15.2%
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.
+21.4%
Avg. revenue growth/yr (14Y) 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+0.3% (0.2 + 0.1)
Revenue +20.0%/yr
FY21 1.2B CNY
FY22 1.6B CNY
FY23 2.1B CNY
FY24 2.2B CNY
FY25 2.5B CNY
Net income +5.4%/yr
FY21 176M CNY
FY22 198M CNY
FY23 242M CNY
FY24 277M CNY
FY25 218M CNY
Character of growth · EPS growth decomposed (2013-2024) +3.6 % p.a.
Revenue per share +11.7 %

of which total revenue +15.6 % · buybacks/dilution −3.4 %

EBIT margin −7.2 %
Tax rate −0.2 %
Residual (interest, one-offs) +0.1 %

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).

603306 screens 504% overvalued. Compare with Shenzhou International Group →

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Cite: Fair Value Calculator (2026). "HMT(Xiamen)New Technical Fair Value". https://www.fairvalue-calculator.com/stock/603306

Peer Group

Textile Manufacturing · 332 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 44 · Below median
Fair Value upside −83% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 2% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth −5% · Below median
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 204.5× · Pricier than 75% of peers
P/B 7.49× · Pricier than 75% of peers
P/S (TTM) 10.37× · Pricier than 75% of peers
P/FCF 3,491.9× · Pricier than 75% of peers
EV/EBITDA 78.7× · Pricier than 75% of peers

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 4
FUTURE0 · sector 0
PAST15 · sector 15
HEALTH76 · sector 95
DIVIDEND2 · sector 33

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.

None of the checked exposures detected

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$37.94 HK$68.35 +80%
Tongkun Group 601233 ¥22.67 ¥14.53 −36%
Inner Mongolia ERDOS Resources Co 600295 ¥12.95 ¥14.35 +11%
K.P.R. Mill Limited KPRMILL ₹1,124 ₹467.49 −58%
Zhejiang Orient Holdings 600120 ¥4.89 ¥2.21 −55%
Vardhman Textiles Limited VTL ₹592.75 ₹437.53 −26%
Albany International Corp AIN $59.92 $18.40 −69%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 324.31 TRY +86%
Welspun Living Limited WELSPUNLIV ₹190.40 ₹47.44 −75%
Bros Eastern.,Ltd 601339 ¥7.88 ¥7.87 +0%

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Frequently asked questions

Is HMT(Xiamen)New Technical (603306) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥11.85 versus a price of ¥71.57, about −83% upside (overvalued).
What is the fair value of 603306?
Our model-based fair value for HMT(Xiamen)New Technical is ¥11.85 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥71.57.
What is the quality score of 603306?
HMT(Xiamen)New Technical has a Quality Score of 44/100. 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 HMT(Xiamen)New Technical (603306)?
HMT(Xiamen)New Technical reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 603306?
The net profit margin of HMT(Xiamen)New Technical is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.
Does HMT(Xiamen)New Technical pay a dividend?
HMT(Xiamen)New Technical currently shows a dividend yield of about 0.11% relative to its recent price (as of Aug 13, 2026).
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