MLS Co (002745) Fair Value & Analysis

Technology · CN · Market cap 15.8B CNY

Below-average quality, and screening another 38% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥8.29). The favourable scenario is already priced in.
• Solid but not exceptional quality (48/100) 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 ¥5.53 – ¥16.91 · fair‑value band ¥5.90 – ¥8.29 · the ¥11.43 price screens above the ¥7.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

MLS Co (002745) currently trades at ¥11.43, while our model-based Fair Value estimate is ¥7.10, implying the stock looks roughly 37.9% overvalued today. The Quality Score stands at 48/100 (below-average 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: high).

Over the trailing twelve months, MLS Co generated revenue of 18.3B CNY at a net margin of -6.6%. Revenue grew 21.4% year over year. It earns a return on equity of -9.3%. The balance sheet holds a net cash position of 3.4B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥5.90 (bear case) to ¥8.29 (bull case); at ¥11.43, 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 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -38%, 002745 screens cheaper 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.

Widest divergence: DCF Models (¥10.03) versus Dividend Discount (¥1.39). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

MLS Co., Ltd., together with its subsidiaries, manufactures light-emitting diode products in China and internationally. The company offers LED beads, filament, and chip, as well as backlight series and ceramic package; LED display beads-indoor and outdoor, as well as display module; AC/DC power adapter, LED lighting driver power series, and traditional and …

Full company description

MLS Co., Ltd., together with its subsidiaries, manufactures light-emitting diode products in China and internationally. The company offers LED beads, filament, and chip, as well as backlight series and ceramic package; LED display beads-indoor and outdoor, as well as display module; AC/DC power adapter, LED lighting driver power series, and traditional and fast charger series; and LED bulb, tube, and strip, as well as rail light, magnetic lamp, downlight, ceiling light, chandelier, and switch products. It also provides magnetic track, wall washer, grille, linear, panel, pendant, and fan lights; rail, aluminum, and PC spotlights, as well as ultra-thin downlights, industrial and mining lamps, and floodlight; microcrystalline, grille, and kindergarten classroom lights, as well as blackboard light; and track spotlights, sensor ceiling light, flexible LED strip, outline lights, and cleanroom lamp. In addition, the company offers handheld UV sterilizer, forest oxygen bar, ceiling-mounted forest oxygen bar, mini air oxygen bar, public space situational awareness device, healthy ceiling deodorizer, multifunctional air purifier, negative ion oxygen generator, air sterilizer, and healthy wall-mounted fresh air system; and intelligent seedling raising factory, circulating intelligent seedling equipment, plant growing compartment, freely combinable planting pot racks, soilless cultivation intelligent system, hydroponic vegetables, grain and forage planting, and mushroom cultivation products. It sells its products under the MLS, Mulinsen, LEDVANCE, Forest Lighting, Guangyuan Shijia, and Kongjing Shijie brand names. The company exports its products. MLS Co., Ltd., was founded in 1997 and is headquartered in Zhongshan, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MLS Co reported revenue of ¥17.4B in FY2025 versus ¥18.6B in FY2021, a compound −1.6%/yr. Reported net income was −¥1.5B in FY2025.

002745 screens 38% overvalued. Compare with Delta Electronics, Inc →

Peer Group

Electronic Components · 626 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 Electronic Components 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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Explore undervalued stocks

More undervalued Technology stocks →

Frequently asked questions

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.