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China's leading digital-map and navigation-data provider, now expanding into ADAS/autonomous-driving map data and AI.
China's leading digital-map and navigation-data provider, now expanding into ADAS/autonomous-driving map data and AI.
Sells map data to carmakers under licences tied to the vehicles that use it, so revenue follows car production, with growing sales of driving-assistance data and software. Its subsidiary AutoChips designs automotive chips, a hardware line beside the maps.
In one line: China's HERE/TomTom, expanding into AI.
Moat: narrow (regulatory licence, data, customer qualification). One of few licensed surveying/mapping firms in China, with years of accumulated map data.
Headquarters: Beijing, China · Founded: 2002 · Employees: 1,566
Size SeeWay.ai (002405.SZ) is a China Information Technology company (Packaged Software) with a market value of $2.18B, the 1169th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.13 on 6 Nov 2026.
Performance Over six months the shares fell 32.1%, against +21.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 21.7% over the last twelve months (peer median +12.0%); the operating margin is -28.9% (peer median 5.0%).
Valuation It trades at 3.2× enterprise value to sales against a peer median of 4.0× (8th cheapest of 20).
Capital Return on invested capital runs 18.3 points below its cost of capital (8.4% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.43B | CN¥4.12B | CN¥3.51B | CN¥3.11B | CN¥3.33B |
| Revenue growth | — | +17% | +13% | -7% | — |
| Gross profit | CN¥815M | CN¥671M | CN¥886M | CN¥744M | CN¥1.32B |
| EBITDA | n/a | -CN¥892M | -CN¥440M | -CN¥1.04B | -CN¥281M |
| Net income | -CN¥3.69M | CN¥104M | -CN¥1.09B | -CN¥1.31B | -CN¥336M |
| Free cash flow | -CN¥543M | -CN¥490M | -CN¥379M | -CN¥892M | -CN¥743M |
| Capital expenditure | CN¥233M | CN¥292M | CN¥390M | CN¥457M | CN¥602M |
| Total debt | CN¥1.48B | CN¥973M | CN¥783M | CN¥863M | CN¥745M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| SeeWay.ai 002405.SZ | $2.18B | -32% | +22% | -29% | 3.2× | n/a |
| Alibaba Group Holding Limited Sponsored ADR BABA | $255B | -22% | +8% | 4% | 1.6× | n/a |
| Baidu, Inc. Sponsored ADR BIDU | $25.8B | -42% | -1% | 7% | 1.2× | n/a |
| TomTom TOM2.AS | $511M | -23% | -7% | 12% | 0.5× | -10.1% |
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 | 002405.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.9% | +9.6% | 9th lowest of 21 |
| 6-month return | -32.1% | +21.5% | 3rd lowest of 21 |
| Distance from 52-week high | -47.7% | -20.9% | 2nd lowest of 21 |
| Revenue growth (TTM) | +21.7% | +12.0% | 6th highest of 21 |
| Operating margin | -28.9% | 5.0% | 4th lowest of 21 |
| EV / Sales | 3.2× | 4.0× | 8th cheapest of 20 |
| ROIC minus cost of capital | -18.3 pp | -5.2 pp | 4th lowest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SeeWay.ai 002405.SZ | China | $2.18B | -32% | +22% | -29% | 3.2× | n/a | n/a |
| Ethos Technologies LIFE | United States | $2.18B | +13% | +112% | -16% | 2.7× | 24.1% | n/a |
| Schrodinger SDGR | United States | $2.23B | +125% | +9% | -59% | 7.4× | n/a | n/a |
| DoubleVerify DV | United States | $2.12B | +23% | +7% | 14% | 2.5× | 9.7% | +25.1% |
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 2.1× | -5.4% | -11.8% |
| Five9 FIVN | United States | $2.10B | +27% | +9% | 6% | 1.9× | 17.9% | +21.4% |
| Amplitude AMPL | United States | $2.09B | +161% | +18% | -27% | 5.2× | 36.9% | +27.4% |
| Embracer EMBRAC-B.ST | Sweden | $2.08B | +37% | -31% | -43% | 1.0× | -9.8% | +12.0% |
| UCloud Technology 688158.SS | China | $2.08B | -34% | +26% | 2% | 6.8× | n/a | n/a |
| NetScout Systems NTCT | United States | $2.29B | -19% | +6% | 15% | 1.9× | -0.1% | +0.7% |
| Zhejiang Digital Culture Technology 600633.SS | China | $2.06B | -15% | +14% | 10% | 4.0× | 15.4% | -2.8% |
| Shanghai Suochen Information Technology 688507.SS | China | $2.31B | +97% | +32% | -2% | 26.8× | n/a | n/a |
| Mobvista Incorporation 1860.HK | Hong Kong | $2.05B | -43% | +26% | 4% | 0.8× | -1.1% | +31.9% |
| Affle 3i AFFLE.NS | India | $2.36B | +6% | +20% | 18% | 6.9× | 33.0% | +39.3% |
| Zhejiang Jinke Tom Culture Industry 300459.SZ | China | $2.01B | -9% | -10% | -108% | 16.4× | 43.2% | -12.5% |
| Justsystems 4686.T | Japan | $2.01B | +33% | +10% | 44% | 3.8× | -6.3% | +4.6% |
| Tianyu Digital Technology 002354.SZ | China | $2.00B | +31% | +8% | -2% | 6.3× | 25.9% | +15.8% |
| RAKUS 3923.T | Japan | $2.38B | +24% | +17% | 31% | 5.9× | 15.8% | +31.4% |
| Pine Labs PINELABS.NS | India | $1.98B | -19% | +50% | 7% | n/a | n/a | n/a |
| iReader Technology 603533.SS | China | $1.98B | +20% | +14% | -2% | 3.2× | 37.2% | +9.5% |
| nCino NCNO | United States | $2.40B | +28% | +9% | 9% | 4.3× | 23.9% | +23.8% |