Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) fair value: what the stock is really worth
We calculate from audited financials what Shanghai V-Test Semiconductor Tech Co. Ltd. A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
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Below-average quality, and trading another 307% above our fair value of ¥27.53.
As of Sep 5, 2026, the fair value of Shanghai V-Test Semiconductor Tech Co. Ltd. A is ¥27.53 per share against a price of ¥112.16, so the fair value sits 75% below the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +57.7 %/yr)
✓Solidly profitable · 19.6% net margin
!Moderate debt · negative free cash flow
·0.49% dividend yield
!Trails peers (5/13)
!Moderate moat 54/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 10 out of 100
Evidence: MediumRange ¥19.44 to ¥38.59
Fair value as of: Sep 5, 2026
From 16 valuation models · updated 6 days ago
Share price −14.0% over the past month.
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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 ¥112.16 price screens above the ¥27.53 fair value. Dashed = 300-day average. As of Sep 5, 2026.
Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) currently trades at ¥112.16, while our model-based Fair Value estimate is ¥27.53, implying the stock looks roughly 307.3% 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 ¥112.16 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
Scenario range: ¥19.44 (bear) to ¥38.59 (bull), the price of ¥112.16 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 39% below its 52-week high and 127% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −63% fair-value upside, at −75%, 688372 screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥1.18 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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¥15.52¥17.34¥29.9272
EV/EBITDA¥50.02¥72.33¥94.6367
EPVn/a¥2.13¥4.5165
All 16 models by family
Earnings-Based
Graham-Dodd¥12.20¥85.08¥119.4061
Lynch FV¥43.96¥62.79¥81.6359
PEG = 1.0¥43.96¥62.79¥81.6355
EPVn/a¥2.13¥4.5165
Dividend Discount
Gordon GGM¥4.96¥10.31¥16.3564
DDM Multi-Stage¥4.96¥8.69¥10.8264
Multiples
P/E Multiple¥37.68¥50.24¥62.7963
P/S Multiple¥22.87¥30.50¥38.1258
P/B Multiple¥22.87¥30.50¥38.1255
EV/EBIT¥22.12¥35.13¥48.1364
EV/EBITDA¥50.02¥72.33¥94.6367
EV/Revenue¥2.83¥11.28¥19.7449
Asset-Based
NCAV (Graham)¥8.78¥11.76¥17.5654
Economic Profit
Residual Income best evidence¥15.52¥17.34¥29.9272
ROIC Compoundern/a¥2.13¥4.5165
Growth Earnings
Growth-Adj P/E¥63.47¥90.67¥117.8865
Widest divergence: Growth Earnings (¥90.67) versus Economic Profit (¥2.13). Highest evidence: Residual Income (72).
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Key figures & financial health
P/E ratio49.8
P/S ratio9.60P/E × margin
EPS (TTM)¥2.25price ÷ EPS = P/E 49.8
Dividend yield0.5%payout 24.4%
Net margin19.3%FY2025
Return on equity10.2%TTM
More key figures
Profitability
Return on assets (EBIT)6.2%avg 5y
Operating margin20.5%TTM
Growth
Revenue (TTM)1.8B CNYTTM
Revenue growth (YoY)+71.8%3y avg +29.0%
EPS growth (YoY)+141%
Balance sheet & cash flow
Free cash flow−2.2B CNYFY2025
Net debt3.3B CNYFY2025
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality39/100
Of which business quality 40
· Market factors (momentum, volatility) 41
Profitability36
Margins and returns on capital today
Quality Growth70
Are margins and returns improving?
Cashflow50
Earnings quality: real cash, not paper profit
Fin. Strength54
Balance sheet, leverage, solvency risk
Investment21
Disciplined investing over empire-building
Low Volatility21
Calm price path (market factor)
Momentum42
Price trend over the last 3–12 months (market factor)
52W Momentum60
Distance to the 52-week high (market factor)
Net Issuance0
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
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.
Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.6B CNY
Latest YoY
+46.2%
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.
+29.0%
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.
+57.7%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +15.9%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+15.4%
Dividend yield0.5%
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.28.7% (2020) → 23.3% (2025) · falling
Worst earnings drop52% (2023) · in CNY
⚠ Final year 2025 sits 81% above trend (one-off), rate approximate
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
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.
This stockSector peers
VALUE0· sector 0
FUTURE100· sector 65
PAST41· sector 24
HEALTH47· sector 96
DIVIDEND10· sector 18
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.
None of the checked exposures detected
Similar stocks
10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
Is Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ¥27.53 versus a price of ¥112.16, about −75% upside (overvalued).
What is the fair value of 688372?
Our model-based fair value for Shanghai V-Test Semiconductor Tech Co. Ltd. A is ¥27.53 (as of Sep 5, 2026), built from audited fundamentals. The current price: ¥112.16.
What is the quality score of 688372?
Shanghai V-Test Semiconductor Tech Co. Ltd. A has a Quality Score of 39/100. 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 price target for Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Our model-based price target is the fair value of ¥27.53 (as of Sep 5, 2026) from 16 valuation models. Cautious scenario ¥19.44, optimistic scenario ¥38.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai V-Test Semiconductor Tech Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥27.53, about −75% upside versus a price of ¥112.16 (overvalued). Cautious scenario ¥19.44, optimistic scenario ¥38.59. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Shanghai V-Test Semiconductor Tech Co. Ltd. A reported trailing-twelve-month revenue of about 1.8B CNY (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 688372?
The net profit margin of Shanghai V-Test Semiconductor Tech Co. Ltd. A is about 19.6%, meaning it keeps roughly 19.6% of revenue as net income. Based on the latest reported figures.
Does Shanghai V-Test Semiconductor Tech Co. Ltd. A pay a dividend?
Shanghai V-Test Semiconductor Tech Co. Ltd. A currently shows a dividend yield of about 0.49% relative to its recent price (as of Sep 5, 2026).
What is the intrinsic value of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai V-Test Semiconductor Tech Co. Ltd. A it is ¥27.53 per share (as of Sep 5, 2026), against a price of ¥112.16. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai V-Test Semiconductor Tech Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 5, 2026, 688372 trades above its calculated fair value: price ¥112.16, fair value ¥27.53, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688372?
No. The price is what the market pays today (¥112.16); the fair value is what the company's own numbers justify (¥27.53). For Shanghai V-Test Semiconductor Tech Co. Ltd. A the two are ¥84.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai V-Test Semiconductor Tech Co. Ltd. A worth?
The market values Shanghai V-Test Semiconductor Tech Co. Ltd. A at about 22.0B CNY (market capitalisation, as of Sep 5, 2026). Per share that is ¥112.16; our models calculate a fair value of ¥27.53 per share.
What do the bullish and bearish scenarios say about 688372?
Our models span a range for Shanghai V-Test Semiconductor Tech Co. Ltd. A: cautious scenario ¥19.44, base ¥27.53, optimistic ¥38.59 per share (as of Sep 5, 2026, price ¥112.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688372?
Shanghai V-Test Semiconductor Tech Co. Ltd. A trades at a price-to-earnings ratio of 49.8 (as of Sep 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥27.53 is built from several models across several years. Other multiples: P/B 7.4, P/S 12.4, EV/EBITDA 28.5.
How solid is the balance sheet of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Balance-sheet figures for Shanghai V-Test Semiconductor Tech Co. Ltd. A (as of Sep 5, 2026): return on equity 10.2%, debt of 1.06 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 688372 from its 52-week high?
Shanghai V-Test Semiconductor Tech Co. Ltd. A trades at ¥112.16, about 39% below its 52-week high of ¥183.03 and 127% above the low of ¥49.51 (as of Sep 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥27.53 is for.
Which stocks are comparable to Shanghai V-Test Semiconductor Tech Co. Ltd. A?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shanghai V-Test Semiconductor Tech Co. Ltd. A stock attractive at the current price?
The data as of Sep 5, 2026: price ¥112.16, calculated fair value ¥27.53 (−75%), Quality Score 39/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688372 calculated?
We run Shanghai V-Test Semiconductor Tech Co. Ltd. A through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥27.53, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Shanghai V-Test Semiconductor Tech Co. Ltd. A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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