TacticScaleWhat Hangzhou Shunwang Technology (顺网科技) Does & How It Makes Money (300113.SZ)
Updated October 2026 · reflects Hangzhou Shunwang Technology's latest reported financials
Chinese internet café software and online gaming services company. It earns revenue from game services and internet café management, including game promotion and value-added telecom services.
How Hangzhou Shunwang Technology makes money
It earns revenue from game services and internet café management, including game promotion and value-added telecom services. It also sells computing power, AI, software and technical services, plus anime and trendy-toy products.
What Hangzhou Shunwang Technology does
Hangzhou Shunwang Technology, founded in 2005 and based in Hangzhou, works in China's internet gaming business and also serves international markets. Its core business is serving internet cafés with management services and game-related offerings, including game services and promotion. The company has added several newer businesses: anime and trendy toys, film and TV live streaming, computing power and AI services. It also offers value-added telecom services, computer hardware and software, software development, network technology, business information consulting and other technical services.
Products & services
- Internet café management services
- Game services and promotion
- Computing power services
- AI services
- Anime and trendy toys
- Film/TV live streaming
顺网科技是做什么的？
杭州顺网科技股份有限公司成立于2005年，总部位于杭州，从事互联网游戏相关业务，市场以中国为主并涉及海外。公司的核心业务是为网吧提供管理服务，同时提供游戏服务和推广。 公司近年来新增了动漫潮玩、影视直播、算力服务和AI服务等业务，另外还提供增值电信业务、计算机软硬件、软件开发、网络技术、商务信息咨询等技术服务。
What is Hangzhou Shunwang Technology worth?
On an owner-earnings DCF, Hangzhou Shunwang Technology's most-likely value is about ¥11 versus a recent price near ¥16 (40% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥3) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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