Hangzhou Silan Microelectronics Co.,Ltd

XSSC:600460 Stock Report

Market Cap: CN¥45.7b

Hangzhou Silan MicroelectronicsLtd Valuation

Is 600460 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600460 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600460 (CN¥27.45) is trading above our estimate of fair value (CN¥18.82)

Significantly Below Fair Value: 600460 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600460?

Key metric: As 600460 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600460. This is calculated by dividing 600460's market cap by their current revenue.
What is 600460's PS Ratio?
PS Ratio4.3x
SalesCN¥10.60b
Market CapCN¥45.68b

Price to Sales Ratio vs Peers

How does 600460's PS Ratio compare to its peers?

The above table shows the PS ratio for 600460 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.3x
002156 Tongfu MicroelectronicsLtd
1.9x18.2%CN¥45.2b
688472 CSI Solar
1.1x15.7%CN¥49.9b
688249 Nexchip Semiconductor
5.5x25.0%CN¥50.1b
002049 Unigroup Guoxin Microelectronics
8.9x18.1%CN¥54.9b
600460 Hangzhou Silan MicroelectronicsLtd
4.3x12.5%CN¥45.7b

Price-To-Sales vs Peers: 600460 is good value based on its Price-To-Sales Ratio (4.3x) compared to the peer average (4.4x).

Price to Sales Ratio vs Industry

How does 600460's PS Ratio compare vs other companies in the CN Semiconductor Industry?

12 CompaniesPrice / SalesEstimated GrowthMarket Cap
688223 Jinko Solar
0.8x11.4%US$12.08b
002459 JA Solar Technology
0.7x15.0%US$7.77b
688599 Trina Solar
0.5x12.5%US$7.25b
002506 GCL System Integration Technology
0.9x33.5%US$2.22b
600460 4.3xIndustry Avg. 6.9xNo. of Companies24PS048121620+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 600460 is good value based on its Price-To-Sales Ratio (4.3x) compared to the CN Semiconductor industry average (6.7x).

Price to Sales Ratio vs Fair Ratio

What is 600460's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600460 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.3x
Fair PS Ratio3.6x

Price-To-Sales vs Fair Ratio: 600460 is expensive based on its Price-To-Sales Ratio (4.3x) compared to the estimated Fair Price-To-Sales Ratio (3.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 600460 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥27.18
CN¥21.76
-20.0%
19.6%CN¥31.71CN¥17.00n/a12
Nov ’25CN¥27.97
CN¥20.60
-26.4%
14.1%CN¥27.41CN¥17.00n/a12
Oct ’25CN¥22.62
CN¥20.60
-8.9%
14.1%CN¥27.41CN¥17.00n/a12
Sep ’25CN¥18.92
CN¥20.60
+8.9%
14.1%CN¥27.41CN¥17.00n/a12
Aug ’25CN¥23.26
CN¥21.35
-8.2%
15.0%CN¥27.41CN¥17.00n/a12
Jul ’25CN¥17.01
CN¥21.66
+27.3%
14.9%CN¥27.41CN¥17.00n/a8
Jun ’25CN¥18.79
CN¥22.33
+18.9%
14.4%CN¥27.41CN¥17.00n/a10
May ’25CN¥19.18
CN¥22.15
+15.5%
15.1%CN¥27.41CN¥17.00n/a9
Apr ’25CN¥20.08
CN¥24.74
+23.2%
14.3%CN¥29.00CN¥17.00n/a10
Mar ’25CN¥21.62
CN¥24.63
+13.9%
13.8%CN¥29.00CN¥17.00n/a11
Feb ’25CN¥18.25
CN¥25.22
+38.2%
12.6%CN¥29.00CN¥17.00n/a11
Jan ’25CN¥22.83
CN¥25.95
+13.7%
12.5%CN¥33.50CN¥20.50n/a11
Dec ’24CN¥24.34
CN¥25.95
+6.6%
12.5%CN¥33.50CN¥20.50n/a11
Nov ’24CN¥24.28
CN¥26.27
+8.2%
14.6%CN¥36.10CN¥20.50CN¥27.9711
Oct ’24CN¥24.36
CN¥28.00
+14.9%
14.8%CN¥36.10CN¥20.50CN¥22.6211
Sep ’24CN¥25.32
CN¥28.05
+10.8%
15.4%CN¥36.10CN¥20.50CN¥18.9210
Aug ’24CN¥30.61
CN¥35.74
+16.7%
19.2%CN¥51.50CN¥25.00CN¥23.2610
Jul ’24CN¥30.27
CN¥37.43
+23.6%
18.4%CN¥51.50CN¥25.00CN¥17.0110
Jun ’24CN¥31.97
CN¥37.43
+17.1%
18.4%CN¥51.50CN¥25.00CN¥18.7910
May ’24CN¥32.90
CN¥36.31
+10.4%
14.8%CN¥44.00CN¥25.00CN¥19.189
Apr ’24CN¥37.01
CN¥38.65
+4.4%
9.4%CN¥44.50CN¥32.00CN¥20.089
Mar ’24CN¥34.09
CN¥38.63
+13.3%
9.0%CN¥44.50CN¥34.00CN¥21.629
Feb ’24CN¥35.98
CN¥38.63
+7.4%
9.0%CN¥44.50CN¥34.00CN¥18.259
Jan ’24CN¥32.79
CN¥39.35
+20.0%
6.4%CN¥42.63CN¥34.80CN¥22.839
Dec ’23CN¥36.54
CN¥39.35
+7.7%
6.4%CN¥42.63CN¥34.80CN¥24.349
Nov ’23CN¥32.00
CN¥39.22
+22.6%
9.7%CN¥46.00CN¥34.80CN¥24.288

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

Hainan Drinda New Energy Technology

CN¥14.9b

Hainan Drinda New Energy Technology Co., Ltd.

2865

CN¥65.58

7D

3.3%

1Y

-22.2%

Giantec Semiconductor

CN¥8.8b

Engages in the research, development, design, and sale of memory, analog, and mixed-signal integrated circuits in China, Taiwan, South Korea, Hong Kong, the United States, Japan, the Southeast Asia, Europe, and internationally.

688123

CN¥55.80

7D

-4.9%

1Y

-14.8%

Giantec Semiconductor

CN¥8.8b

Engages in the research, development, design, and sale of memory, analog, and mixed-signal integrated circuits in China, Taiwan, South Korea, Hong Kong, the United States, Japan, the Southeast Asia, Europe, and internationally.

688123

CN¥55.84

7D

-4.4%

1Y

-14.7%