Chengdu M&S Electronics Technology Co (688311) Fair Value & Analysis
Technology · CN · Market cap 4.2B CNY
Fair value as of: Aug 13, 2026
From 13 valuation models · updated today
Fair value updated Aug 13, 2026, revised from ¥3.72 to ¥4.80 (+29.0%) since Aug 12, 2026. Share price −10.0% over the past month.
A solid business, but screening 80% overvalued on our models.
What matters now
- A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (¥5.77). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ¥17.00 – ¥64.88 · fair‑value band ¥3.83 – ¥5.77 · the ¥24.03 price screens above the ¥4.80 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Chengdu M&S Electronics Technology Co (688311) currently trades at ¥24.03, while our model-based Fair Value estimate is ¥4.80, implying the stock looks roughly 80.0% overvalued today. The Quality Score stands at 74/100 (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, Chengdu M&S Electronics Technology Co generated revenue of 516M CNY at a net margin of -3.2%. Revenue declined 43.6% year over year. It earns a return on equity of -1.0%. The balance sheet holds a net cash position of 160M CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥3.83 (bear case) to ¥5.77 (bull case); at ¥24.03, 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 60% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -80%, 688311 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 13 models by family
Widest divergence: Growth DCF (¥26.04) versus Dividend Discount (¥0.2400). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 75 · Market factors (momentum, volatility) 19
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
Chengdu M&S Electronics Technology Co.,Ltd. engages in the research and development, manufacture, sale, and technical service of satellite navigation and communication terminal equipment in China and internationally.
Full company description
Chengdu M&S Electronics Technology Co.,Ltd. engages in the research and development, manufacture, sale, and technical service of satellite navigation and communication terminal equipment in China and internationally. The company offers satellite navigation products, including navigation terminal equipment, satellite navigation receivers, components, special test equipment, etc. for use in the national defense and military fields; and satellite communication products, such as satellite communication antennas and components, and satellite communication phased array antennas and components for use in maritime, aviation, and other markets. It also provides electronic counter measure products comprising terminal defense products, electronic offensive products, etc., as well as electronic warfare, and training and testing products for use in terminal defense, deception, training, and testing in various fields and platforms. The company was founded in 2009 and is headquartered in Chengdu, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Chengdu M&S Electronics Technology Co reported revenue of ¥525M in FY2025 versus ¥476M in FY2021, a compound +2.5%/yr. Reported net income was −¥16.2M in FY2025.
688311 screens 80% overvalued. Compare with Cisco Systems, Inc →
Peer Group
Communication Equipment · 303 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 Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cisco Systems, Inc CSCO | $120.43 | $61.53 | -49% |
| Zhongji Innolight Co 300308 | ¥921.00 | ¥171.09 | -81% |
| Foxconn Industrial Internet Co 601138 | ¥65.60 | ¥28.65 | -56% |
| Eoptolink Technology Inc 300502 | ¥429.90 | ¥176.99 | -59% |
| Nokia Oyj NOK | $10.32 | $3.77 | -63% |
| Motorola Solutions, Inc MSI | $469.74 | $236.33 | -50% |
| Suzhou TFC Optical Communication Co 300394 | ¥240.05 | ¥43.67 | -82% |
| Accton Technology Corporation 2345 | 2,270 TWD | 1,135 TWD | -50% |
| Telefonaktiebolaget LM Ericsson (publ), ERICB | kr 97.78 | kr 157.82 | +61% |
| ZTE Corporation 000063 | ¥35.59 | ¥19.72 | -45% |
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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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