Sunwave Communications Co. (002115) Fair Value & Analysis
Technology · CN · Market cap 9.5B CNY
Fair value as of: Jul 22, 2026
From 7 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from ¥4.36 to ¥2.51 (−42.4%) since Jun 25, 2026. Share price +20.3% over the past month.
A solid business, but screening 79% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥3.00). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.
How to read this chart
60‑month range ¥3.41 – ¥19.59 · fair‑value band ¥2.02 – ¥3.00 · the ¥11.93 price screens above the ¥2.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Sunwave Communications Co. (002115) currently trades at ¥11.93, while our model-based Fair Value estimate is ¥2.51, implying the stock looks roughly 79.0% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Sunwave Communications Co. generated revenue of 14.5B CNY at a net margin of 0.1%. Revenue grew 110.5% year over year. It earns a return on equity of 0.9%. The balance sheet holds a net cash position of 439M CNY. Fundamentals as of Jul 22, 2026
Our scenario range runs from ¥2.02 (bear case) to ¥3.00 (bull case); at ¥11.93, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -79%, 002115 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 7 models by family
Widest divergence: Multiples (¥3.09) versus Asset-Based (¥1.70). Highest evidence: ROIC Compounder (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 44
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Sunwave Communications Co.Ltd engages in the communication business and Internet advertising media business in China and internationally.
Full company description
Sunwave Communications Co.Ltd engages in the communication business and Internet advertising media business in China and internationally. The company's wireless coverage products, including cellular digital DAS systems and repeaters, public safety DAS systems, passive products, and network management and O-RAN solutions; and wireless network products, such as 5G and LTE CPE, indoor and outdoor base stations, wireless bridges, ruggedized terminals, and GPON ONT products. It also offers wireless security and satellite communications solutions; and services in various areas comprising communications facility leasing, mobile internet, and digital marketing. The company serves various mobile operators and industry customers in various industries, including transportation, real estate, sports and entertainment venues, airports, etc. Sunwave Communications Co.Ltd was founded in 1993 and is based in Hangzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Sunwave Communications Co. reported revenue of ¥12.0B in FY2025 versus ¥10.3B in FY2021, a compound +3.9%/yr. Reported net income was −¥13.2M in FY2025.
002115 screens 79% overvalued. Compare with Cisco Systems, Inc →
Peer Group
Communication Equipment · 290 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Communication Equipment median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cisco Systems, Inc CSCO | $119.25 | $43.05 | -64% |
| Zhongji Innolight Co 300308 | ¥1,094 | ¥171.09 | -84% |
| Foxconn Industrial Internet Co 601138 | ¥56.50 | ¥28.65 | -49% |
| Eoptolink Technology Inc 300502 | ¥482.88 | ¥155.05 | -68% |
| Nokia Oyj NOK | $11.25 | $2.67 | -76% |
| Motorola Solutions, Inc MSI | $413.31 | $190.43 | -54% |
| Suzhou TFC Optical Communication Co 300394 | ¥244.13 | ¥32.04 | -87% |
| Telefonaktiebolaget LM Ericsson (publ), ERIC | $11.72 | $15.96 | +36% |
| Accton Technology Corporation 2345 | 2,090 TWD | 846.28 TWD | -60% |
| ZTE Corporation 000063 | ¥40.00 | ¥15.75 | -61% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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