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Chinese maker of network-security and communication equipment, including encrypted communication systems.
Chinese maker of network-security and communication equipment, including encrypted communication systems.
Moat: narrow (regulatory licence). Secure-communication equipment for government customers requires security certifications/licences.
Headquarters: Fuzhou, Fujian, China · Employees: 12,775
Size Fujian Star-Net Communication (002396.SZ) is a China Information Technology company (Computer Communications) with a market value of $2.61B, the 993rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥22.95 on 6 Nov 2026.
Performance Over six months the shares gained 12.6%, against +0.3% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 14 in its peer set.
Growth Revenue grew 18.1% over the last twelve months (peer median +6.3%); the operating margin is 4.5% (peer median 4.1%).
Valuation It trades at 19.3× forward earnings against a peer median of 19.5× (5th cheapest of 11).
Capital Return on invested capital runs 1.7 points below its cost of capital (6.8% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥22.5B | CN¥19.1B | CN¥16.7B | CN¥15.9B | CN¥15.7B |
| Revenue growth | — | +14% | +5% | +1% | — |
| Gross profit | CN¥7.28B | CN¥5.88B | CN¥5.42B | CN¥5.38B | CN¥5.45B |
| EBITDA | n/a | CN¥1.25B | CN¥706M | CN¥535M | CN¥873M |
| Net income | CN¥703M | CN¥409M | CN¥405M | CN¥425M | CN¥577M |
| Free cash flow | -CN¥2.17B | CN¥1.79B | -CN¥317M | CN¥954M | CN¥125M |
| Capital expenditure | CN¥355M | CN¥327M | CN¥670M | CN¥434M | CN¥436M |
| Total debt | CN¥9.12B | CN¥2.97B | CN¥3.08B | CN¥2.70B | CN¥2.12B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Fujian Star-Net Communication 002396.SZ | $2.61B | +13% | +18% | 4% | 19.3× | n/a |
| Unisplendour 000938.SZ | $10.4B | -24% | +25% | 3% | 21.8× | n/a |
| ZTE 000063.SZ | $19.0B | -23% | +14% | 1% | 24.2× | 19.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002396.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.7% | -2.7% | 4th lowest of 14 |
| 6-month return | +12.6% | +0.3% | 4th highest of 14 |
| Distance from 52-week high | -45.3% | -38.6% | 7th lowest of 14 |
| Revenue growth (TTM) | +18.1% | +6.3% | 2nd highest of 14 |
| Operating margin | 4.5% | 4.1% | 7th highest of 14 |
| Forward P/E | 19.3× | 19.5× | 5th cheapest of 11 |
| ROIC minus cost of capital | -1.7 pp | -1.9 pp | 7th highest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fujian Star-Net Communication 002396.SZ | China | $2.61B | +13% | +18% | 4% | 19.3× | n/a | n/a |
| Easy Smart 2442.HK | Hong Kong | $2.72B | +72% | -33% | -15% | n/a | n/a | n/a |
| dormakaba DOKA.SW | Switzerland | $3.47B | +28% | -3% | 13% | 21.2× | -9.3% | +2.2% |
| CIG Shanghai 6166.HK | Hong Kong | $4.11B | -63% | +45% | 11% | 9.7× | n/a | n/a |
| Nohmi Bosai 6744.T | Japan | $1.58B | 0% | +6% | 14% | 16.9× | -4.4% | +5.3% |
| Jade Bird Integrated Technologies 002960.SZ | China | $1.40B | -12% | -5% | 6% | 23.8× | 12.0% | +13.2% |
| Seojin System 178320.KS | South Korea | $1.33B | -52% | +9% | -5% | n/a | n/a | n/a |
| Radware RDWR | United States | $1.26B | +9% | +11% | 4% | 22.0× | 32.4% | +3.8% |
| CICT Mobile Communication Technology Co., Ltd.Class A 688387.SS | China | $5.65B | -44% | -2% | -7% | n/a | n/a | n/a |
| Shenzhen BSC Technology 300951.SZ | China | $1.11B | +33% | +16% | -5% | 19.3× | n/a | n/a |
| Hochiki 6745.T | Japan | $952M | 0% | +5% | 12% | 14.7× | -0.1% | +6.7% |
| Guangdong Shenglu Telecommunication Tech 002446.SZ | China | $928M | -32% | -10% | 0% | 16.9× | 43.5% | +1.0% |
| Nedap NEDAP.AS | Netherlands | $691M | +6% | +13% | 12% | 19.8× | -3.6% | +8.1% |
| Guangdong Champion Asia Electronics 603386.SS | China | $670M | +3% | +15% | 3% | 36.2× | n/a | n/a |