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Tongwei CoSHSE:600438 57 Days Payable is 186.59 as of Mar. 2026, which is 113% above its 10-year median of 87.57. GuruFocus rates SHSE:600438 with a GF Score™ of 57/100 and a GF Value™ of ¥18.42 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 998 Semiconductors companies, Tongwei Co ranks better than 85.27% on this metric.
Tongwei Co's average Accounts Payable for the
three
months ended in Mar. 2026 was ¥25,793 Mil. Tongwei Co's Cost of Goods Sold for the
three
months ended in Mar. 2026 was ¥12,614 Mil.
Hence, Tongwei Co's Days Payable for the
three
months ended in Mar. 2026 was 186.59.
The historical rank and industry rank for Tongwei Co's Days Payable or its related term are showing as below:
SHSE:600438'
s Days Payable Range Over the Past 10 Years
Min: 44.21 Med: 87.57 Max: 145.43
Current: 145.43
During the past 13 years, Tongwei Co's highest Days Payable was 145.43. The lowest was 44.21. And the median was 87.57.
SHSE:600438's Days Payable is ranked better than 85.27% of 998
companies
in the Semiconductors industry
Industry Median: 52.98
vs SHSE:600438: 145.43
Tongwei Co's Days Payable
declined
from Mar. 2025 (193.10) to Mar. 2026 (186.59).
It may suggest that Tongwei Coaccelerated paying its suppliers.
Tongwei Co Days Payable Related Terms
Tongwei Co Days Payable Historical Data
* Premium members only.
The historical data trend for Tongwei Co's Days Payable can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SHSE:600438 vs FSLR, NXT, ENPH: Days Payable Comparison
For the Solar subindustry, Tongwei Co's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tongwei Co Days Payable vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Tongwei Co's Days Payable distribution charts can be found below:
* The bar in red indicates where Tongwei Co's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
Tongwei Co's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Tongwei Co (SHSE:600438) has a Days Payable of 186.59 as of Mar. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Tongwei Co and its competitors. This is 113% above median its historical median of 87.57. Over the past decade, Tongwei Co's Days Payable has ranged from 44.21 to 145.43. According to the industry distribution chart, Tongwei Co ranks #147 out of 998 companies in the Semiconductors industry, placing it in the top 14.7%.
Is Tongwei Co's Days Payable too high?
Tongwei Co's current Days Payable of 186.59 is 113% above median its 10-year median of 87.57. Over the past 10 years, this metric has ranged from a low of 44.21 to a high of 145.43. The Semiconductors industry median Days Payable is 52.98. Tongwei Co's value of 186.59 is 252.2% above this industry median. Based on the distribution chart, Tongwei Co ranks #147 out of 998 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Tongwei Co has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tongwei Co's Days Payable compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Tongwei Co ranks #147 out of 998 companies for Days Payable. This places Tongwei Co in the top 15% of its industry — outperforming the majority of peers. The industry median Days Payable is 52.98. Tongwei Co's value of 186.59 is 252.2% above this benchmark. Historically, Tongwei Co's own Days Payable has ranged from 44.21 to 145.43 over the past decade. While the company's 10-year median is 87.57 vs. the industry median of 52.98, Tongwei Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a Semiconductors company?
The median Days Payable among Semiconductors companies is 52.98, based on 998 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tongwei Co's current Days Payable of 186.59 is 252.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Tongwei Co and its competitors. For the Semiconductors industry, the median Days Payable is 52.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tongwei Co's current Days Payable is 186.59, which is 113% above median its own 10-year median of 87.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tongwei Co stock overvalued right now?
Based on GuruFocus' analysis, Tongwei Co (SHSE:600438) is currently considered Possible Value Trap. The stock's GF Value™ is ¥18.42, compared to a current price of ¥10.68 — trading 42% below its estimated fair value. The current Days Payable is 186.59, which is 113% above median its 10-year median of 87.57 and 252.2% above the Semiconductors industry median of 52.98. Tongwei Co's overall GF Score™ is 57/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Tongwei Co (SHSE:600438), the current Days Payable is 186.59 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tongwei Co (SHSE:600438) Overvalued in 2026?
Based on GuruFocus' analysis, Tongwei Co stock appears to be undervalued.
The current stock price of ¥10.68 is trading 42% below its estimated GF Value™ of ¥18.42.
GuruFocus considers Tongwei Co to be Possible Value Trap.
Key valuation signals for SHSE:600438:
Days Payable: 186.59 (113% above median its 10-year median of 87.57)
GF Value™: ¥18.42 vs. price of ¥10.68 (42% below fair value)
Industry Position: 252.2% above the Semiconductors median (#147 of 998)
No single metric tells the full story. See the SHSE:600438 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tongwei is the world's largest polysilicon producer and a leading solar cell and module supplier. The solar business contributed more than 60% of revenue in 2025. In addition, Tongwei runs a feed and food business, which made up 35% of revenue in 2025.
57GF Score
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