Shanghai 2345 Network Holding Group (002195) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Shanghai 2345 Network Holding Group stock ¥2.93, price ¥5.84, upside -49.8%, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.
How to read this chart
60‑month range ¥1.82 – ¥13.19 · fair‑value band ¥2.13 – ¥4.00 · the ¥5.84 price screens above the ¥2.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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Shanghai Stonehill Technology Co., Ltd., together with its subsidiaries, provides internet information services in China.
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The company develops software products, including 2345 Website Navigation, Browser, Security Guard, 2345 HaoZip, Image Viewer, Input Method, 2345 Weather Forecast, and Qingniao Wallpaper. It also provides Nullmax, a platform which offers various driver assistance features.
In addition, the company engages in the research and product development in areas, such as brain-computer interface decoding algorithms and systems, diagnosis and assessment of non-organic brain diseases comprising epilepsy, depression, and severe insomnia, as well as regulation of the brain's internal state, and commercialization of research results; and equity investment and financial product investment activities.
Further, it is involved in integration, development, consulting, sales, and service of computer software and hardware systems and related systems; and export and import of machinery, equipment, spare parts, and raw materials.
The company was formerly known as Shanghai 2345 Network Holding Group Co., Ltd. and changed its name to Shanghai Stonehill Technology Co., Ltd. in August 2023. Shanghai Stonehill Technology Co., Ltd. was founded in 1989 and is based in Shanghai, China.
Stock analysis
Shanghai 2345 Network Holding Group (002195) currently trades at ¥5.84, while our model-based Fair Value estimate is ¥2.93, 49.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ¥1.57 per share, and 1 of the 10 models we run sit above the ¥5.84 price.
Bear case: the Growth Earnings group reads lowest at ¥0.3800, and 9 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥2.13 (bear) to ¥4.00 (bull), the price of ¥5.84 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Shanghai 2345 Network Holding Group reported revenue of 653M CNY in FY2025 versus 932M CNY in FY2021, a compound −8.5%/yr. Reported net income was 92.3M CNY in FY2025, compounding −30.6%/yr from FY2021.
Key figures
Market cap 33.1B CNY (≈ $5.0B) Mid · P/E ratio 584.0 · P/S ratio 82.5 · EPS (TTM) ¥0.0100 · Dividend yield 0.0% · Net margin 14.1% · Return on equity −0.6% · Return on assets (EBIT) 1.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −50%, 002195 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.0900 to ¥9.51). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear¥2.13Fair Value ¥2.93Bull¥4.00
Price ¥5.84 · Upside -49.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.0066 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−1.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.8%
Start year 2020 (pandemic). Over 10 years: −7.8% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−30.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−30.5% vs −15.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−70% → −60%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 7.8%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Shanghai 2345 Network Holding Group with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Software - Application · 639 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−49.8% · Below median
Profitability
Return on assets2.9% · Above median
Net margin (12 months)40.0% · Top 25%
Operating margin (12 months)−27.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)17.7% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Software - Application median · lower = cheaper
P/E (12 months)584.0× · Priciest 25%
P/B3.35× · Pricier than median
P/S (12 months)156.30× · Priciest 25%
PEG7.57× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 31
FUTURE (revenue growth)89· sector 40
PAST (return on equity)0· sector 18
HEALTH (low debt)100· sector 97
DIVIDEND (yield)1· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Shanghai 2345 Network Holding Group Fair Value". https://www.fairvalue-calculator.com/stock/002195
Frequently asked questions
Is Shanghai 2345 Network Holding Group (002195) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of ¥2.93 versus a price of ¥5.84, about −50% upside (overvalued).
What is the fair value of 002195?
Our model-based fair value for Shanghai 2345 Network Holding Group is ¥2.93 (as of Oct 29, 2026), built from audited fundamentals. The current price: ¥5.84.
What is the quality score of 002195?
Shanghai 2345 Network Holding Group has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shanghai 2345 Network Holding Group (002195)?
Our model-based price target is the fair value of ¥2.93 (as of Oct 29, 2026) from 10 valuation models. Cautious scenario ¥2.13, optimistic scenario ¥4.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai 2345 Network Holding Group stock forecast for 2026?
Our models put fair value at ¥2.93, about −50% upside versus a price of ¥5.84 (overvalued). Cautious scenario ¥2.13, optimistic scenario ¥4.00. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai 2345 Network Holding Group (002195)?
Shanghai 2345 Network Holding Group reported trailing-twelve-month revenue of about 678M CNY (latest available figure, as of Oct 29, 2026).
Does Shanghai 2345 Network Holding Group pay a dividend?
Shanghai 2345 Network Holding Group currently shows a dividend yield of 0.03% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of Shanghai 2345 Network Holding Group (002195)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai 2345 Network Holding Group it is ¥2.93 per share (as of Oct 29, 2026), against a price of ¥5.84. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai 2345 Network Holding Group stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 002195 trades above its calculated fair value: price ¥5.84, fair value ¥2.93, a gap of about −50% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 002195?
No. The price is what the market pays today (¥5.84); the fair value is what the company's own numbers justify (¥2.93). For Shanghai 2345 Network Holding Group the two are ¥2.91 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai 2345 Network Holding Group worth?
The market values Shanghai 2345 Network Holding Group at about 33.1B CNY (market capitalisation, as of Oct 29, 2026). Per share that is ¥5.84; our models calculate a fair value of ¥2.93 per share.
What do the bullish and bearish scenarios say about 002195?
Our models span a range for Shanghai 2345 Network Holding Group: cautious scenario ¥2.13, base ¥2.93, optimistic ¥4.00 per share (as of Oct 29, 2026, price ¥5.84). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 002195?
The PEG ratio of Shanghai 2345 Network Holding Group is 7.57 (P/E divided by earnings growth, as of Oct 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shanghai 2345 Network Holding Group (002195)?
Balance-sheet figures for Shanghai 2345 Network Holding Group (as of Oct 29, 2026): return on equity −0.6%, debt of 0.00 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 002195 from its 52-week high?
Shanghai 2345 Network Holding Group trades at ¥5.84, about 56% below its 52-week high of ¥13.19 and 3% above the low of ¥5.68 (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of ¥2.93 is for.
Which stocks are comparable to Shanghai 2345 Network Holding Group?
From the same area (Technology) we also value SAP SE, Shopify Inc, Salesforce, Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shanghai 2345 Network Holding Group stock attractive at the current price?
The data as of Oct 29, 2026: price ¥5.84, calculated fair value ¥2.93 (−50%), Quality Score 50/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 002195 calculated?
We run Shanghai 2345 Network Holding Group through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥2.93, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. Shanghai 2345 Network Holding Group itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shanghai 2345 Network Holding Group (002195)?
The closing price on Oct 28, 2026 was ¥5.84. Our model-based fair value is ¥2.93, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai 2345 Network Holding Group right now?
The price sits above even our optimistic bull case (¥4.00). 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 (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥2.13 to ¥4.00) leaves room in how you read the outcome.
Where does the earnings growth of Shanghai 2345 Network Holding Group (002195) come from?
Earnings per share at Shanghai 2345 Network Holding Group grew −2.8 % a year from 2013 to 2024. Broken into its drivers: revenue per share −10.2 %, EBIT margin +11.2 %, tax rate −1.4 %, residual (interest, one-offs) −1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shanghai 2345 Network Holding Group
How large is the market capitalisation of Shanghai 2345 Network Holding Group (002195)?
The market capitalisation of Shanghai 2345 Network Holding Group is 33.1B CNY (≈ $5.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Shanghai 2345 Network Holding Group (002195)?
The price-to-earnings ratio of Shanghai 2345 Network Holding Group is 584.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Shanghai 2345 Network Holding Group (002195)?
The price-to-sales ratio of Shanghai 2345 Network Holding Group is 82.5 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shanghai 2345 Network Holding Group (002195)?
Earnings per share at Shanghai 2345 Network Holding Group are ¥0.0100 (price ÷ EPS = P/E 584.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai 2345 Network Holding Group (002195)?
The dividend yield of Shanghai 2345 Network Holding Group is 0.0% (payout 20.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shanghai 2345 Network Holding Group (002195)?
The net margin of Shanghai 2345 Network Holding Group is 14.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shanghai 2345 Network Holding Group (002195)?
The return on equity (ROE) of Shanghai 2345 Network Holding Group is −0.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shanghai 2345 Network Holding Group (002195)?
On an EBIT basis the return on assets of Shanghai 2345 Network Holding Group is 1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shanghai 2345 Network Holding Group (002195)?
The operating margin of Shanghai 2345 Network Holding Group is −27.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai 2345 Network Holding Group (002195)?
Revenue at Shanghai 2345 Network Holding Group is growing +17.7% versus a year earlier (3y avg −0.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shanghai 2345 Network Holding Group (002195)?
Earnings per share at Shanghai 2345 Network Holding Group are growing +10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shanghai 2345 Network Holding Group (002195) generate?
The free cash flow of Shanghai 2345 Network Holding Group is −320M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Shanghai 2345 Network Holding Group (002195) hold?
Shanghai 2345 Network Holding Group holds more cash than debt, 1.6B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 29, 2026