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Shanghai Hollywave Electronic System Co (688682) Fair Value & Analysis

Technology · CN · Market cap 4.2B CNY

SH Shanghai Hollywave Electronic System Co 688682 · SHG
Price¥31.67
Fair Value¥8.28
Upside-73.9%
Quality59/100
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Mixed Growth
Loss-making · -6.8% net margin
generates free cash flow
Trails peers (3/10)
Narrow moat 16/100
Evidence: Medium Range ¥6.09 – ¥10.47 Share as image

Fair value as of: Jul 12, 2026

From 9 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥18.01 to ¥8.28 (−54.0%) since Jun 24, 2026. Share price −9.0% over the past month.

A solid business, but screening 74% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥10.47). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥69.83 ¥15.67 Fair Value ¥8.28 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥15.67 – ¥69.83 · fair‑value band ¥6.09 – ¥10.47 · the ¥31.67 price screens above the ¥8.28 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Shanghai Hollywave Electronic System Co (688682) currently trades at ¥31.67, while our model-based Fair Value estimate is ¥8.28, implying the stock looks roughly 73.9% overvalued today. The Quality Score stands at 59/100 (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 Hollywave Electronic System Co generated revenue of 310M CNY at a net margin of -6.8%. Revenue grew 9.4% year over year. It earns a return on equity of -2.2%. The balance sheet holds a net cash position of 98.9M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥6.09 (bear case) to ¥10.47 (bull case); at ¥31.67, 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 57% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -74%, 688682 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥7.05 ¥11.12 ¥17.41 72
Gordon GGM ¥1.27 ¥2.52 ¥3.82 70
Rev-Margin DCF ¥6.02 ¥9.55 ¥13.90 67
All 9 models by family
DCF Models
FCF DCF ¥7.05 ¥11.38 ¥18.24 38
5Y Revenue Exit ¥6.02 ¥9.57 ¥14.23 39
10Y Revenue Exit ¥6.17 ¥9.55 ¥14.39 36
Dividend Discount
Gordon GGM ¥1.27 ¥2.52 ¥3.82 70
DDM Multi-Stage ¥1.27 ¥2.18 ¥2.66 61
Multiples
EV/Revenue ¥5.63 ¥7.83 ¥10.02 43
Asset-Based
NCAV (Graham) ¥3.00 ¥4.02 ¥6.00 50
Growth DCF
Growth DCF ¥7.05 ¥11.12 ¥17.41 72
Rev-Margin DCF ¥6.02 ¥9.55 ¥13.90 67

Widest divergence: DCF Models (¥9.57) versus Dividend Discount (¥2.18). Highest evidence: Growth DCF (72).

Key figures & financial health

Revenue (TTM) 310M CNY
Revenue growth (YoY) +9.4%
Net margin -6.8%
Return on equity -2.2%
Free cash flow 57.3M CNY FY2025
Operating margin 2.5%
More key figures
EPS (TTM) ¥-0.2100
EPS growth (YoY) +50.0%
Net cash 98.9M CNY FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 33

Profitability 18
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 74
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 Hollywave Electronic System Co., Ltd. engages in the research and application of electromagnetic simulation and calibration measurement technologies in China.

Full company description

Shanghai Hollywave Electronic System Co., Ltd. engages in the research and application of electromagnetic simulation and calibration measurement technologies in China. The company provides simulation design software, such as CAE simulation and design optimization; and measurement systems, including phased array, electromagnetic stealth, RF, array and antenna products, and electromechanical products for measurement systems. It also offers new phased array and conformal and common aperture antennas. The company's products are applications in the fields of defense and aerospace, high tech, ships and oceans, automobiles and transportation, and communication. Shanghai Hollywave Electronic System Co., Ltd. was incorporated in 2007 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Hollywave Electronic System Co reported revenue of ¥303M in FY2025 versus ¥330M in FY2021, a compound −2.1%/yr. Reported net income was −¥22.5M in FY2025.

Growth Quality 47/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
303M CNY
Latest YoY
+12.6%
Avg. growth/yr (3Y)
−3.4%
Avg. growth/yr (5Y)
+5.7%
Avg. growth/yr (8Y)
+15.2%
Revenue −2.1%/yr
FY21 ¥330M
FY22 ¥336M
FY23 ¥394M
FY24 ¥269M
FY25 ¥303M
Net income
FY21 ¥60.9M
FY22 ¥50.4M
FY23 ¥27.1M
FY24 ¥14.4M
FY25 −¥22.5M

688682 screens 74% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Shanghai Hollywave Electronic System Co Fair Value". https://www.fairvalue-calculator.com/stock/688682

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.

Quality Score 59 · Above median
Fair Value upside −74% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 9% · Above median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/B 1.02× · Cheaper than median
P/S (TTM) 2.02× · Pricier than median
P/FCF 10.9× · Pricier than median

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 47 · sector 30
PAST 0 · sector 15
HEALTH 0 · sector 98
DIVIDEND 0 · sector 24

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 12, 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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Frequently asked questions

Is Shanghai Hollywave Electronic System Co (688682) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥8.28 versus a price of ¥31.67, about −74% (overvalued).
What is the fair value of 688682?
Our model-based fair value for Shanghai Hollywave Electronic System Co is ¥8.28 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥31.67.
What is the quality score of 688682?
Shanghai Hollywave Electronic System Co has a Quality Score of 59/100. 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 Hollywave Electronic System Co (688682)?
Shanghai Hollywave Electronic System Co reported trailing-twelve-month revenue of about 310M CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688682?
The net profit margin of Shanghai Hollywave Electronic System Co is about -6.8%, meaning it is currently running at a net loss. 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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