---
title: "Hangzhou First Applied Material Co.,Ltd. (603806.SH)"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/603806.SH.md"
symbol: "603806.SH"
name: "Hangzhou First Applied Material Co.,Ltd."
industry: "Semiconductor Materials and Equipment"
datetime: "2026-05-20T20:36:34.406Z"
locales:
  - [en](https://longbridge.com/en/quote/603806.SH.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/603806.SH.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/603806.SH.md)
---

# Hangzhou First Applied Material Co.,Ltd. (603806.SH)

## Company Overview

Hangzhou First Applied Material Co., Ltd., together with its subsidiaries, engages in the research and development, production, and sales of new materials in China and internationally. It operates through Photovoltaic Materials, Electronic Materials, Functional Film Materials, and Coating Materials divisions. The company offers photovoltaic encapsulant film, such as EVA film for PV module, POE encapsulant, co-extrusion film, color encapsulant, light conversion film, and special film for busbar-free (0BB) PV module; backsheet for PV module; and isolation strips, reflective gap encapsulant, moisture barrier sealant, structural adhesive, insulating ink, isolating ink, and wet-film photoresist. It also provides dry film photoresist, photoimageable coverlay, and flexible copper clay laminates; and dry lamination process series aluminum plastic film and hot pressing process series aluminum plastic film.

| Item | Detail |
|------|--------|
| Industry | Semiconductor Materials and Equipment |
| Exchange | CN Market |
| Website | [www.firstpvm.com](https://www.firstpvm.com) |

## Key Drivers
> *AI-analyzed key factors driving this stock's performance*


## Longbridge Financial Score™: C
> *Longbridge Financial Score™ — Proprietary multi-factor rating model by Longbridge*
> Updated: 2026-05-20T04:30:11.000Z

**Overall: C (0.46)**

**Industry**: Semiconductor Materials and Equipment

| Metric | Value |
|--------|-------|
| Industry Ranking | 28 / 63 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Mid - The company has stable operation of a large-cap stock and the high return of a small-cap stock.

**Multi Score**: C

#### Style Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -12.67% |  |
| Net Profit YoY | -42.69% |  |
| P/B Ratio | 2.69 |  |
| Dividend Ratio | 1.56% |  |

#### Size Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 43538995331.37 |  |
| Revenue | 15266046798.76 |  |

#### Multi Score Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 4.07% | C |
| Profit Margin | 4.46% | C |
| Gross Margin | 13.83% | D |
| Revenue YoY | -12.67% | E |
| Net Profit YoY | -42.69% | D |
| Total Assets YoY | -2.50% | D |
| Net Assets YoY | -1.19% | D |
| Cash Flow Margin | 261.68% | A |
| OCF YoY | -12.67% | E |
| Turnover | 0.72 | B |
| Gearing Ratio | 19.98% | A |

```chart-data:radar
{
  "title": "Longbridge Financial Score - Hangzhou First Applied Material Co.,Ltd.",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Style Score",
      "grade": "",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-12.67%",
          "rating": ""
        },
        {
          "name": "Net Profit YoY",
          "value": "-42.69%",
          "rating": ""
        },
        {
          "name": "P/B Ratio",
          "value": "2.69",
          "rating": ""
        },
        {
          "name": "Dividend Ratio",
          "value": "1.56%",
          "rating": ""
        }
      ]
    },
    {
      "name": "Size Score",
      "grade": "",
      "indicators": [
        {
          "name": "Market Cap",
          "value": "43538995331.37",
          "rating": ""
        },
        {
          "name": "Revenue",
          "value": "15266046798.76",
          "rating": ""
        }
      ]
    },
    {
      "name": "Multi Score",
      "grade": "C",
      "indicators": [
        {
          "name": "ROE",
          "value": "4.07%",
          "rating": "C"
        },
        {
          "name": "Profit Margin",
          "value": "4.46%",
          "rating": "C"
        },
        {
          "name": "Gross Margin",
          "value": "13.83%",
          "rating": "D"
        },
        {
          "name": "Revenue YoY",
          "value": "-12.67%",
          "rating": "E"
        },
        {
          "name": "Net Profit YoY",
          "value": "-42.69%",
          "rating": "D"
        },
        {
          "name": "Total Assets YoY",
          "value": "-2.50%",
          "rating": "D"
        },
        {
          "name": "Net Assets YoY",
          "value": "-1.19%",
          "rating": "D"
        },
        {
          "name": "Cash Flow Margin",
          "value": "261.68%",
          "rating": "A"
        },
        {
          "name": "OCF YoY",
          "value": "-12.67%",
          "rating": "E"
        },
        {
          "name": "Turnover",
          "value": "0.72",
          "rating": "B"
        },
        {
          "name": "Gearing Ratio",
          "value": "19.98%",
          "rating": "A"
        }
      ]
    }
  ]
}
```

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 63.73 | 7/63 | 62.85 | 49.37 | 30.96 |
| PB | 2.68 | 9/63 | 2.91 | 2.55 | 2.27 |
| PS (TTM) | 2.85 | 10/63 | 2.96 | 2.47 | 2.11 |
| Dividend Yield | 1.56% | 3/63 | 1.85% | 1.65% | 1.46% |

## Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 01 | NAURA (002371.SZ) | B | B | C | C | B | B |
| 02 | AMEC (688012.SH) | B | A | C | A | B | B |
| 03 | Piotech (688072.SH) | A | A | C | D | A | B |
| 04 | CCTech (300604.SZ) | A | A | B | C | B | B |
| 05 | HWATSING (688120.SH) | B | B | C | C | B | B |

## Institutional View

### Analyst Rating Distribution

> As of 2026-05-17T16:00:00.000Z

Total Analysts: **11**

| Rating | Count | Percentage |
|--------|-------|-----------| 
| Buy | 5 | 45% |
| Overweight | 2 | 18% |
| Hold | 3 | 27% |
| Underweight | 1 | 9% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 16.62 |
| Highest Target | 25.16 |
| Lowest Target | 11.50 |

## References

- [Company Overview — Profile, executives, shareholders, business breakdown](https://longbridge.com/en/quote/603806.SH/overview.md)
- [Financial Reports — Income, balance sheet, cash flow, dividends](https://longbridge.com/en/quote/603806.SH/norm.md)
- [Related News](https://longbridge.com/en/quote/603806.SH/news.md)
- [Filings — Company announcements and regulatory filings](https://longbridge.com/en/quote/603806.SH/filings.md)

---

> **Disclaimer: This article is for reference only and does not constitute any investment advice.**