SeeWay.ai Co (002405) Fair Value & Analysis
Technology · CN · Market cap 17.4B CNY
Fair value as of: Jul 22, 2026
From 12 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from ¥0.9600 to ¥0.8900 (−7.3%) since Jun 25, 2026. Share price +5.4% over the past month.
A solid business, but screening 87% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥1.15). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥0.6200 to ¥1.15) leaves room in how you read the outcome.
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 ¥5.64 – ¥17.99 · fair‑value band ¥0.6200 – ¥1.15 · the ¥6.64 price screens above the ¥0.8900 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
SeeWay.ai Co (002405) currently trades at ¥6.64, while our model-based Fair Value estimate is ¥0.8900, implying the stock looks roughly 86.6% overvalued today. The Quality Score stands at 52/100 (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, SeeWay.ai Co generated revenue of 4.2B CNY at a net margin of 2.6%. Revenue grew 13.4% year over year. It earns a return on equity of 0.7%. The balance sheet holds a net cash position of 1.9B CNY. Fundamentals as of Jul 22, 2026
Our scenario range runs from ¥0.6200 (bear case) to ¥1.15 (bull case); at ¥6.64, 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, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -87%, 002405 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 12 models by family
Widest divergence: DCF Models (¥2.66) versus Dividend Discount (¥0.0900). Highest evidence: Residual Income (76).
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 50 · Market factors (momentum, volatility) 29
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
SeeWay.ai Co., Ltd., together with its subsidiaries, provides full-stack automotive intelligence solutions in China. It offers software-hardware integrated solutions for multiple levels and complex driving scenarios; intelligent cockpit software product, such as smart assistant, LBS, driving safety, audio and video entertainment, smartphone-vehicle …
Full company description
SeeWay.ai Co., Ltd., together with its subsidiaries, provides full-stack automotive intelligence solutions in China. It offers software-hardware integrated solutions for multiple levels and complex driving scenarios; intelligent cockpit software product, such as smart assistant, LBS, driving safety, audio and video entertainment, smartphone-vehicle connectivity, and ecological service; Intelligent cockpit hardware terminal product, including IVI, intelligent navigation, AVM panorama, cloud recorder, stream media, and in-vehicle HUD series; and user system, user mall and entertainment value-added services. The company also provides intelligent cockpit for commercial vehicles comprising intelligent connected devices, connected vehicle service platform, map service for commercial vehicle, and APP operation services; intelligent charging, smart mobility, and operation marketing services; and navigation for shared autonomy, data compliance and closed-loop, dynamic traffic, and high-precision positioning services. In addition, it offers e-cockpit, IVI, telematics, and DA and high-end LCD instrument SoC products; MCU products consisting of AC7840x, AC781x, AC7801x, and AC7802x; multi-scenario digital twin solutions; and MineData for data processing, LBS, and rendering engine developed in-house, open APIs, and SDKs for further development. The company was formerly known as NavInfo Co., Ltd. and change its name to SeeWay.ai Co., Ltd. in December 2025. SeeWay.ai Co., Ltd. was founded in 2002 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SeeWay.ai Co reported revenue of ¥4.1B in FY2025 versus ¥3.1B in FY2021, a compound +7.7%/yr. Reported net income was ¥104M in FY2025, compounding −4.0%/yr from FY2021.
002405 screens 87% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 709 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 Software - Application 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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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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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