Western Superconducting Tech Co Ltd (688122) Fair Value & Analysis
Industrials · CN · Market cap 34.3B CNY (≈ $5.1B) · ISIN CNE100003MF3
What is Western Superconducting Tech Co Ltd really worth?
A solid business, but trading 103% above our fair value of ¥24.43.
Strengths
Risks
For context
Fair value as of: Aug 20, 2026
From 26 valuation models · updated 16 days ago
Share price −9.7% 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 (¥30.70). The favourable scenario is already priced in.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥13.89 to ¥30.70) 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 20, 2026.
How to read this chart
60‑month range ¥32.37 – ¥106.21 · fair‑value band ¥13.89 – ¥30.70 · the ¥49.48 price screens above the ¥24.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Western Superconducting Tech Co Ltd (688122) currently trades at ¥49.48, while our model-based Fair Value estimate is ¥24.43, implying the stock looks roughly 102.6% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ¥32.02 per share, and 1 of the 26 models we run sit above the ¥49.48 price. Bear case: the Asset-Based group reads lowest at ¥7.83, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Western Superconducting Tech Co Ltd generated revenue of 5.2B CNY at a net margin of 13.6%. Revenue grew 0.6% year over year. It earns a return on equity of 10.9%. Net debt stands at 419M CNY. Fundamentals as of Aug 20, 2026
Our scenario range runs from ¥13.89 (bear case) to ¥30.70 (bull case); at ¥49.48, 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 55% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −51%, 688122 screens cheaper 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 ¥0.4756 per share, which is 1.9 % 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 (¥32.02) versus Asset-Based (¥7.83). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 27
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
Western Superconducting Technologies Co., Ltd. engages in the research and development, production, and sale of superconducting materials, high-end titanium alloy materials, and high temperature alloy materials and applications in China and internationally.
Full company description
Western Superconducting Technologies Co., Ltd. engages in the research and development, production, and sale of superconducting materials, high-end titanium alloy materials, and high temperature alloy materials and applications in China and internationally. The company offers superconducting products, including titanium ingots, superconducting wires, niobium ingots, MgB2 wires, and superconducting magnets; high-end titanium alloy materials, such as rods and wires; and high-temperature alloy materials comprising deformed high-temperature alloys and high-temperature alloy master bars. It serves energy, medical, transportation, information, new fighters, helicopters, fighters, large aircraft, helicopters, aero engines, ships, and large aircraft industries. Western Superconducting Technologies Co., Ltd. was incorporated in 2003 and is headquartered in Xi'an, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Western Superconducting Tech Co Ltd reported revenue of 5.2B CNY in FY2025 versus 2.9B CNY in FY2021, a compound +15.7%/yr. Reported net income was 840M CNY in FY2025, compounding +3.2%/yr from FY2021.
of which total revenue +20.7 % · buybacks/dilution −4.4 %
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).
688122 screens 103% overvalued. Compare with Carpenter Technology Corporation →
Peer Group
Metal Fabrication · 251 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 Metal Fabrication 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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Carpenter Technology Corporation CRS | $490.58 | $101.35 | −79% |
| ATI Inc ATI | $210.76 | $35.74 | −83% |
| Mueller Industries, Inc MLI | $62.80 | $59.33 | −6% |
| Aurubis AG NDA | €178.90 | €223.43 | +25% |
| China International Marine Containers (Group) Co 000039 | ¥8.87 | ¥3.39 | −62% |
| Commercial Metals Company CMC | $68.16 | $13.01 | −81% |
| JL Mag Rare-Earth Co 300748 | ¥27.08 | ¥8.34 | −69% |
| Viohalco S.A VIO | €16.46 | €14.98 | −9% |
| ESAB Corporation ESAB | $86.05 | $52.40 | −39% |
| Ningbo Zhenyu Technology Co 300953 | ¥104.36 | ¥44.23 | −58% |
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