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Shanghai Sunmi Technology Co (6810) Fair Value & Analysis

Technology · HK · Market cap HK$23.9B

SS Shanghai Sunmi Technology Co 6810 · HK
PriceHK$65.80
Fair ValueHK$17.88
Upside-72.8%
Quality63/100
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Healthy Growth
Thin margins · 5.8% net margin
generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 42/100
Evidence: Medium Range HK$12.97 – HK$22.35 Share as image

Fair value as of: Jul 7, 2026

From 24 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from HK$23.68 to HK$17.88 (−24.5%) since Jul 2, 2026. Share price +1.9% over the past month.

A solid business, but screening 73% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$22.35). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (3 months)

HK$84.80 HK$55.65 Fair Value HK$17.88 Apr 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 7, 2026.

How to read this chart

3‑month range HK$55.65 – HK$84.80 · fair‑value band HK$12.97 – HK$22.35 · the HK$65.80 price screens above the HK$17.88 fair value. As of Jul 7, 2026.

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Analysis

Shanghai Sunmi Technology Co (6810) currently trades at HK$65.80, while our model-based Fair Value estimate is HK$17.88, implying the stock looks roughly 72.8% overvalued today. The Quality Score stands at 63/100 (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, Shanghai Sunmi Technology Co generated revenue of HK$3.8B at a net margin of 5.8%. It earns a return on equity of 11.3%. The stock trades on a trailing P/E of 92.8. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$12.97 (bear case) to HK$22.35 (bull case); at HK$65.80, 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 34% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -73%, 6810 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.

Model 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. Evidence
Highest evidence
Residual Income HK$4.65 HK$5.24 HK$9.19 76
Growth DCF HK$8.88 HK$12.59 HK$18.74 72
Growth-Adj P/E HK$7.15 HK$10.21 HK$13.27 68
All 24 models by family
DCF Models
FCF DCF HK$8.89 HK$12.85 HK$19.56 38
Owner Earnings HK$11.46 HK$17.35 HK$27.34 31
5Y Revenue Exit HK$9.49 HK$14.01 HK$20.11 39
5Y EBITDA Exit HK$10.14 HK$15.31 HK$21.73 41
5Y P/E Exit HK$10.99 HK$17.03 HK$23.87 38
10Y Revenue Exit HK$9.03 HK$13.23 HK$19.58 36
10Y EBITDA Exit HK$9.66 HK$14.17 HK$20.90 37
10Y P/E Exit HK$10.23 HK$15.42 HK$22.66 35
Earnings-Based
Graham-Dodd HK$3.76 HK$16.26 HK$22.23 54
Lynch FV HK$4.18 HK$5.97 HK$7.76 50
PEG = 1.0 HK$4.18 HK$5.97 HK$7.76 46
EPV HK$8.82 HK$9.68 HK$10.44 59
Multiples
P/E Multiple HK$9.12 HK$12.16 HK$15.20 63
P/S Multiple HK$7.05 HK$9.40 HK$11.75 58
P/B Multiple HK$7.05 HK$9.40 HK$11.75 55
EV/EBIT HK$12.93 HK$16.02 HK$19.11 53
EV/EBITDA HK$11.39 HK$13.97 HK$16.55 54
EV/Revenue HK$9.91 HK$12.59 HK$15.27 43
Asset-Based
NCAV (Graham) HK$2.60 HK$3.48 HK$5.20 50
Growth DCF
Growth DCF HK$8.88 HK$12.59 HK$18.74 72
Rev-Margin DCF HK$9.49 HK$13.89 HK$19.44 67
Economic Profit
Residual Income HK$4.65 HK$5.24 HK$9.19 76
ROIC Compounder HK$9.37 HK$11.03 HK$13.01 67
Growth Earnings
Growth-Adj P/E HK$7.15 HK$10.21 HK$13.27 68

Widest divergence: DCF Models (HK$14.17) versus Asset-Based (HK$3.48). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$3.8B
Net margin 5.8%
Return on equity 11.3%
Free cash flow HK$168M FY2025
P/E ratio 92.8
Operating margin 6.1%

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 19

Profitability 41
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

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

Shanghai Sunmi Technology Co., Ltd. operates as a Business Internet of Things (BIoT) solution provider internationally. The company's solutions integrate hardware, software, and data insights to offer digital transformation for business operations, such as payments, membership management, order fulfillment, inventory control, and workforce management.

Full company description

Shanghai Sunmi Technology Co., Ltd. operates as a Business Internet of Things (BIoT) solution provider internationally. The company's solutions integrate hardware, software, and data insights to offer digital transformation for business operations, such as payments, membership management, order fulfillment, inventory control, and workforce management. Its BIoT solutions mainly include smart devices and BIoT platform as a service platform. The company's smart devices use its proprietary operating system, namely SUNMI OS. Further, its BIoT PaaS platform offers a unified software infrastructure equipped with ready-to-use development tools that enable merchants and developers to develop, manage and upgrade vertical-specific software applications for use on smart devices. The company's smart devices are built on the SUNMI CBB hardware platform technology. Its flagship product, V Series, is a smart device designed for mobile internet application scenarios. The company's cloud-based architecture offers a comprehensive remote management suite comprising hundreds of microservices, such as device status monitoring, remote control and customizable desktop configurations. Additionally, its AI-driven low-code development tools tailored for commercial use and integrated AI algorithms into smart devices. The company was formerly known as Shanghai Woyou Information Technology Co., Ltd. The company was founded in 2013 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

Shanghai Sunmi Technology Co reported revenue of HK$3.8B in FY2025 versus HK$3.1B in FY2023, a compound +11.4%/yr. Reported net income was HK$223M in FY2025, compounding +48.3%/yr from FY2023.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$3.8B
Latest YoY
+10.3%
Revenue +11.4%/yr
FY23 HK$3.1B
FY24 HK$3.5B
FY25 HK$3.8B
Net income +48.3%/yr
FY23 HK$101M
FY24 HK$181M
FY25 HK$223M

6810 screens 73% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Shanghai Sunmi Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/6810

Peer Group

Computer Hardware · 215 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.

Quality Score 63 · Top 25%
Fair Value upside −73% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 0% · Below median

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 92.8× · Pricier than 75% of peers
P/B 11.43× · Pricier than 75% of peers
P/S (TTM) 6.27× · Pricier than 75% of peers
P/FCF 18.2× · Pricier than 75% of peers
EV/EBITDA 84.6× · Pricier than 75% of peers

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 · sector 0
FUTURE 0 · sector 57
PAST 45 · sector 26
HEALTH 0 · sector 97
DIVIDEND 0 · sector 44

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Shanghai Sunmi Technology Co (6810) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of HK$17.88 versus a price of HK$65.80, about −73% (overvalued).
What is the fair value of 6810?
Our model-based fair value for Shanghai Sunmi Technology Co is HK$17.88 (as of Jul 7, 2026), built from audited fundamentals. The current price is HK$65.80.
What is the quality score of 6810?
Shanghai Sunmi Technology Co has a Quality Score of 63/100. 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 revenue of Shanghai Sunmi Technology Co (6810)?
Shanghai Sunmi Technology Co reported trailing-twelve-month revenue of about HK$3.8B (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 6810?
The net profit margin of Shanghai Sunmi Technology Co is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.

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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