Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) Fair Value & Analysis
Technology · CN · Market cap 22.0B CNY (≈ $3.3B) · ISIN CNE100005NK6
What is Shanghai V-Test Semiconductor Tech Co. Ltd. A really worth?
Below-average quality, and trading another 316% above our fair value of ¥27.53.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 16 valuation models · updated today
Share price −5.1% 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 (¥38.59). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (¥19.44 to ¥38.59) leaves room in how you read the outcome.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
46‑month range ¥26.58 – ¥188.88 · fair‑value band ¥19.44 – ¥38.59 · the ¥114.50 price screens above the ¥27.53 fair value. Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) currently trades at ¥114.50, while our model-based Fair Value estimate is ¥27.53, implying the stock looks roughly 316.0% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥90.67 per share, and 0 of the 16 models we run sit above the ¥114.50 price. Bear case: the Dividend Discount group reads lowest at ¥8.69, and 16 of the 16 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Shanghai V-Test Semiconductor Tech Co. Ltd. A generated revenue of 1.8B CNY at a net margin of 19.6%. Revenue grew 71.8% year over year. It earns a return on equity of 10.2%. Net debt stands at 3.3B CNY. Fundamentals as of Sep 5, 2026
Our scenario range runs from ¥19.44 (bear case) to ¥38.59 (bull case); at ¥114.50, 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 37% below its 52-week high and 131% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −76%, 688372 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 ¥1.15 per share, which is 4.2 % 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.
All 16 models by family
Widest divergence: Growth Earnings (¥90.67) versus Economic Profit (¥2.13). Highest evidence: Residual Income (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 43
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
Shanghai V-Test Semiconductor Tech. Co., Ltd. operates as an integrated circuit testing provider company in China. The company provides AOI, CP test, FT test, SLT test, burn in test, in tray mark, and lead scan solutions.
Full company description
Shanghai V-Test Semiconductor Tech. Co., Ltd. operates as an integrated circuit testing provider company in China. The company provides AOI, CP test, FT test, SLT test, burn in test, in tray mark, and lead scan solutions. It also offers wafer testing, chip product testing, and integrated circuit supporting; engages in testing equipment rental; and sales of testing auxiliary materials services. The company's products are used in communications, computers, automotive electronics, industrial control, consumer electronics, and other fields. Shanghai V-Test Semiconductor Tech. Co., Ltd. was founded in 2016 and is based in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai V-Test Semiconductor Tech Co. Ltd. A reported revenue of 1.6B CNY in FY2025 versus 493M CNY in FY2021, a compound +33.7%/yr. Reported net income was 303M CNY in FY2025, compounding +23.1%/yr from FY2021.
688372 screens 316% overvalued. Compare with NVIDIA Corporation →
Peer Group
Semiconductors · 325 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 Semiconductors 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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $227.98 | $98.98 | −57% |
| Taiwan Semiconductor Manufacturing Company TSM | $427.30 | $296.10 | −31% |
| Broadcom Inc AVGO | $371.54 | $118.27 | −68% |
| SK hynix Inc 000660 | 1,647,000 KRW | 1,481,291 KRW | −10% |
| Micron Technology, Inc MU | $932.86 | $148.38 | −84% |
| Advanced Micro Devices, Inc AMD | $476.67 | $55.02 | −88% |
| Intel Corporation INTC | $92.09 | $35.41 | −62% |
| Texas Instruments Incorporated TXN | $266.54 | $78.54 | −71% |
| QUALCOMM Incorporated QCOM | $164.78 | $147.20 | −11% |
| MediaTek Inc 2454 | 3,845 TWD | 1,559 TWD | −59% |
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