Piotech Inc. A (688072) Fair Value & Analysis
Technology · CN · Market cap 242B CNY (≈ $36.1B) · ISIN CNE100005998
What is Piotech Inc. A really worth?
A solid business, but trading 597% above our fair value of ¥89.27.
Strengths
Risks
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from ¥431.44 to ¥89.27 (−79.3%) since Jul 12, 2026. Share price −8.3% 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 (¥108.47). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (4 years)
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
53‑month range ¥60.34 – ¥850.01 · fair‑value band ¥66.95 – ¥108.47 · the ¥621.93 price screens above the ¥89.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Piotech Inc. A (688072) currently trades at ¥621.93, while our model-based Fair Value estimate is ¥89.27, implying the stock looks roughly 596.9% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥207.65 per share, and 0 of the 26 models we run sit above the ¥621.93 price. Bear case: the Dividend Discount group reads lowest at ¥9.33, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Piotech Inc. A generated revenue of 6.9B CNY at a net margin of 23.8%. Revenue grew 57.0% year over year. It earns a return on equity of 25.1%. The stock trades on a trailing P/E of 106.9. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥66.95 (bear case) to ¥108.47 (bull case); at ¥621.93, 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 20% below its 52-week high and 350% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −70% fair-value upside, at −86%, 688072 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 ¥3.73 per share, which is 3.0 % 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 (¥207.65) versus Dividend Discount (¥9.33). Highest evidence: FCF DCF (73).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 75
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
Piotech Inc. engages in the research and development, production, sales, and technical services of semiconductor equipment in China.
Full company description
Piotech Inc. engages in the research and development, production, sales, and technical services of semiconductor equipment in China. The company offers thin film equipment, such as plasma-enhanced chemical vapor deposition equipment, atomic layer deposition equipment, sub-atmospheric pressure chemical vapor deposition equipment, and high-density plasma-enhanced chemical vapor deposition equipment are used in integrated circuit logic chips, memory chips, and other manufacturing lines. It also provides hybrid bonding equipment used in the field of wafer-level three-dimensional integration. The company was founded in 2010 and is headquartered in Shenyang, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Piotech Inc. A reported revenue of 6.5B CNY in FY2025 versus 758M CNY in FY2021, a compound +71.3%/yr. Reported net income was 927M CNY in FY2025, compounding +91.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
688072 screens 597% 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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 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% |
| Hon. Precision, Inc 7769 | 6,445 TWD | 1,804 TWD | −72% |
| Hangzhou Changchuan Technology Co 300604 | ¥284.80 | ¥46.26 | −84% |
| Qnity Electronics, Inc Q | $142.08 | $68.69 | −52% |
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