Fujian Star-net Communication Co (002396) Fair Value & Analysis
Technology · CN · Market cap 14.5B CNY
Fair value as of: Jul 22, 2026
From 26 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from ¥19.58 to ¥10.75 (−45.1%) since Jun 25, 2026. Share price +11.9% over the past month.
A solid business, but screening 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥13.44). The favourable scenario is already priced in.
- Solid but not exceptional quality (68/100) 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 ¥9.09 – ¥33.93 · fair‑value band ¥8.06 – ¥13.44 · the ¥29.60 price screens above the ¥10.75 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
Fujian Star-net Communication Co (002396) currently trades at ¥29.60, while our model-based Fair Value estimate is ¥10.75, implying the stock looks roughly 63.7% overvalued today. The Quality Score stands at 68/100 (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: medium).
Over the trailing twelve months, Fujian Star-net Communication Co generated revenue of 19.6B CNY at a net margin of 2.1%. Revenue grew 12.0% year over year. It earns a return on equity of 8.4%. The balance sheet holds a net cash position of 1.1B CNY. Fundamentals as of Jul 22, 2026
Our scenario range runs from ¥8.06 (bear case) to ¥13.44 (bull case); at ¥29.60, 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 near its 52-week high and 96% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -64%, 002396 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 26 models by family
Widest divergence: DCF Models (¥37.27) versus Dividend Discount (¥3.72). Highest evidence: Growth DCF (80).
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 68 · Market factors (momentum, volatility) 74
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
Fujian Star-net Communication Co., LTD. engages in the provision of ICT infrastructure and AI application solutions in China. The company offers communication infrastructure; and network infrastructure solutions, such as network equipment, network security, and cloud desktop solutions.
Full company description
Fujian Star-net Communication Co., LTD. engages in the provision of ICT infrastructure and AI application solutions in China. The company offers communication infrastructure; and network infrastructure solutions, such as network equipment, network security, and cloud desktop solutions. It also provides AI application solutions, including IT solutions, such as desktop cloud terminals, thin clients, domestically developed IT systems, domestically developed cloud services, financial services, and digital payments; media, cloud technology, mobile internet, artificial intelligence, 5G, and AI; smart space; smart video network; smart manufacturing; and smart retail solutions. The company was founded in 1996 and is headquartered in Fuzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fujian Star-net Communication Co reported revenue of ¥19.2B in FY2025 versus ¥13.5B in FY2021, a compound +9.0%/yr. Reported net income was ¥409M in FY2025, compounding −6.8%/yr from FY2021.
002396 screens 64% 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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