Shanghai Aiko Solar Energy Co.,Ltd.

XSSC:600732 Stock Report

Market Cap: CN¥26.0b

Shanghai Aiko Solar EnergyLtd Valuation

Is 600732 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 600732 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600732 (CN¥14.42) is trading below our estimate of fair value (CN¥101.21)

Significantly Below Fair Value: 600732 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600732?

Key metric: As 600732 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600732. This is calculated by dividing 600732's market cap by their current revenue.
What is 600732's PS Ratio?
PS Ratio2.1x
SalesCN¥12.45b
Market CapCN¥26.03b

Price to Sales Ratio vs Peers

How does 600732's PS Ratio compare to its peers?

The above table shows the PS ratio for 600732 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8x
688521 VeriSilicon Microelectronics (Shanghai)
11.1x29.4%CN¥25.1b
688375 Guobo Electronics
12x26.9%CN¥31.1b
688099 Amlogic (Shanghai)Ltd
4.6x20.3%CN¥28.5b
300373 Yangzhou Yangjie Electronic Technology
4.2x19.4%CN¥24.5b
600732 Shanghai Aiko Solar EnergyLtd
2.1x52.3%CN¥26.0b

Price-To-Sales vs Peers: 600732 is good value based on its Price-To-Sales Ratio (2.1x) compared to the peer average (8.1x).

Price to Sales Ratio vs Industry

How does 600732'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
600732 2.1xIndustry Avg. 6.9xNo. of Companies24PS048121620+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 600732 is good value based on its Price-To-Sales Ratio (2.1x) compared to the CN Semiconductor industry average (6.7x).

Price to Sales Ratio vs Fair Ratio

What is 600732'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.

600732 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.1x
Fair PS Ratio4.8x

Price-To-Sales vs Fair Ratio: 600732 is good value based on its Price-To-Sales Ratio (2.1x) compared to the estimated Fair Price-To-Sales Ratio (4.8x).

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 600732 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥14.42
CN¥14.80
+2.6%
30.3%CN¥19.60CN¥8.80n/a3
Nov ’25CN¥12.42
CN¥14.80
+19.2%
30.3%CN¥19.60CN¥8.80n/a3
Oct ’25CN¥10.30
CN¥13.33
+29.4%
34.3%CN¥19.60CN¥8.80n/a3
Sep ’25CN¥8.12
CN¥18.60
+129.1%
5.4%CN¥19.60CN¥17.60n/a2
Aug ’25CN¥9.15
CN¥18.60
+103.3%
5.4%CN¥19.60CN¥17.60n/a2
Jul ’25CN¥9.05
CN¥18.60
+105.5%
5.4%CN¥19.60CN¥17.60n/a2
Jun ’25CN¥11.65
CN¥18.60
+59.7%
5.4%CN¥19.60CN¥17.60n/a2
May ’25CN¥11.95
CN¥25.29
+111.6%
30.4%CN¥32.98CN¥17.60n/a2
Apr ’25CN¥14.05
CN¥31.49
+124.2%
3.9%CN¥32.98CN¥30.00n/a3
Mar ’25CN¥15.25
CN¥31.49
+106.5%
3.9%CN¥32.98CN¥30.00n/a3
Feb ’25CN¥15.18
CN¥31.49
+107.5%
3.9%CN¥32.98CN¥30.00n/a3
Jan ’25CN¥17.64
CN¥31.49
+78.5%
3.9%CN¥32.98CN¥30.00n/a3
Dec ’24CN¥15.90
CN¥31.49
+98.1%
3.9%CN¥32.98CN¥30.00n/a3
Nov ’24CN¥19.41
CN¥31.49
+62.3%
3.9%CN¥32.98CN¥30.00CN¥12.423
Oct ’24CN¥22.31
CN¥32.66
+46.4%
6.3%CN¥35.01CN¥30.00CN¥10.303
Sep ’24CN¥21.97
CN¥42.27
+92.4%
12.1%CN¥47.40CN¥37.14CN¥8.122
Aug ’24CN¥25.37
CN¥42.27
+66.6%
12.1%CN¥47.40CN¥37.14CN¥9.152
Jul ’24CN¥30.75
CN¥35.50
+15.4%
4.6%CN¥37.14CN¥33.86CN¥9.052
Jun ’24CN¥24.36
CN¥35.50
+45.7%
4.6%CN¥37.14CN¥33.86CN¥11.652
May ’24CN¥22.29
CN¥32.39
+45.4%
14.2%CN¥37.14CN¥26.18CN¥11.953
Apr ’24CN¥23.65
CN¥35.50
+50.1%
4.6%CN¥37.14CN¥33.86CN¥14.052
Mar ’24CN¥25.31
CN¥36.24
+43.2%
4.7%CN¥37.71CN¥33.86CN¥15.253
Feb ’24CN¥27.29
CN¥35.79
+31.2%
5.4%CN¥37.71CN¥33.86CN¥15.182
Jan ’24CN¥27.01
CN¥35.79
+32.5%
5.4%CN¥37.71CN¥33.86CN¥17.642
Dec ’23n/a
CN¥35.79
0%
5.4%CN¥37.71CN¥33.86CN¥15.902
Nov ’23n/a
CN¥31.79
0%
18.7%CN¥37.71CN¥25.86CN¥19.412

Analyst Forecast: Target price is less than 20% higher than the current share price.

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