Anji Microelectronics Technology (Shanghai) stock: fair value
688019.SSThe fair value of Anji Microelectronics Technology (Shanghai) under our model is $21.33, the price is 51% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly overvaluedIn our model the price counts as cheap below $14.22 and expensive above $42.66 (uncertainty very high, based on the price swings of the past year).
The two parts of the fair value come to $1.99 (cash-flow model) and $40.66 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 11.5%. At 12.5% the fair value would be $21.22, at 10.5% it would be $21.46.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (39.8).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.3%. Discounted at 11.5% (government bond yield 2.3% plus beta 1.8 times a risk premium of 5.1%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $1.99 per share: free cash flow for the next ten years, each year discounted to today at 11.5%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 11.5%) |
|---|---|---|---|---|
| 2026 | $24.24M | extrapolated at 35.2% | 0.8965 | $21.73M |
| 2027 | $30.39M | extrapolated at 25.4% | 0.8037 | $24.42M |
| 2028 | $35.99M | extrapolated at 18.4% | 0.7205 | $25.93M |
| 2029 | $40.88M | extrapolated at 13.6% | 0.6460 | $26.41M |
| 2030 | $45.06M | extrapolated at 10.2% | 0.5791 | $26.09M |
| 2031 | $48.59M | extrapolated at 7.8% | 0.5192 | $25.23M |
| 2032 | $51.59M | extrapolated at 6.2% | 0.4654 | $24.01M |
| 2033 | $54.18M | extrapolated at 5.0% | 0.4173 | $22.61M |
| 2034 | $56.46M | extrapolated at 4.2% | 0.3741 | $21.12M |
| 2035 | $58.52M | extrapolated at 3.6% | 0.3354 | $19.63M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $237.19M |
| Terminal value: cash flow 2035 × (1 + 2.3%) / (11.5% − 2.3%) | $648.35M |
| Present value of terminal value (× 0.3354) | $217.44M |
| Equity value (sum plus present value of terminal value) | $454.63M |
| Shares (diluted) | 228.19M |
| Value per share (equity value divided by shares) | $1.99 |
| Earnings per share, last twelve months | $1.02 |
| × 39.8 (industry P/E) | $40.66 |
| Fair value (average of both parts) | $21.33 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 3 Nov 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.