Annonce • 11h
FS.COM Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Six Months Ended June 30, 2026 FS.COM Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended June 30, 2026. For the period, the group expects revenue to be between RMB 1,749.1 million to RMB 1,777.1 million. Net profit to be between RMB 437.4 million to RMB 464.7 million. The Board considers that the fluctuations in the Group's results are mainly attributable to the following reasons: the continued growth in global demand for development of AI computing clusters and high-speed data centres has contributed to improving market conditions in the enterprise-level high-speed network infrastructure industry. The Group has continuously strengthened its capabilities in network communication hardware and integrated solutions, remained committed to technological iteration of its products and optimisation of its solution architecture, and facilitated the continued increase in the order volume of its core businesses, resulting in steady growth in revenue; there has been a continuous optimisation of the business structure, coupled with strong market demand for high-value-added, high-performance solutions tailored to enterprise data centres and AI high-performance computing scenarios. The revenue growth rate of this segment is expected to be approximately 45.4%, significantly higher than the average growth rate of the Group's overall revenue. In addition, the proportion of revenue from such business segment in the Group's overall revenue has increased year by year, continuously driving the growth of the overall revenue; and the economies of scale at the operational level have been fully realised along with the continuous expansion of the Group's revenue, thereby diluting the fixed costs corresponding to each unit of revenue. The Group's overall cost structure has continued to improve as the benefits of economies of scale have become increasingly evident, thereby further enhancing the Group's profitability. Buy Or Sell Opportunity • Jul 14
Now 25% overvalued Over the last 90 days, the stock has fallen 27% to HK$37.20. The fair value is estimated to be HK$29.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Annonce • Jul 07
FS.COM Limited (SEHK:3355) entered into Equity Transfer Agreement to acquire Shanghai Baud Data Communication Co., Ltd. from a group of shareholders for CNY 330 million. FS.COM Limited (SEHK:3355) entered into Equity Transfer Agreement to acquire Shanghai Baud Data Communication Co., Ltd. from a group of shareholders for CNY 330 million on July 4, 2026. As a part of consideration, CNY 330 million will be paid in cash by FS.COM Limited. The shareholders include Chen Qun, Wang Ge, Chen Zhiqiang, Xu Jing, Li Chuang, Xu Jianming, Liu Yu, Ni Xinping, Yang Furong, Yu Yaqin, Xu Chaoyang, Chen Xiaomin, Xu Jian, Peng Shuangting and Zhou Yan disposing 66.7790%, 21.5016%, 8.9705%, 0.7692%, 0.5551%, 0.2728%, 0.2633%, 0.2455%, 0.1910%, 0.1091%, 0.0895%, 0.0895%, 0.0682%, 0.0546% and 0.0409% stake respectively in Shanghai Baud Data Communication Co., Ltd. The Consideration will be funded by the internal resources of FS.COM Limited.
As of May 31, 2026, Shanghai Baud Data Communication Co., Ltd. reported total assets of approximately CNY 510 million and net liabilities of CNY 140 million.
The deal is subject to approval by regulatory board. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$33.12, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 20x in the Communications industry in Hong Kong. Buy Or Sell Opportunity • Jun 29
Now 30% overvalued Over the last 90 days, the stock has fallen 5.1% to HK$38.90. The fair value is estimated to be HK$29.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Buy Or Sell Opportunity • Jun 12
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at HK$35.86. The fair value is estimated to be HK$29.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$29.80, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 28x in the Communications industry in Hong Kong. Annonce • May 31
FS.COM Limited Approves Final Ordinary Dividend for the Year Ended 31 December 2025, Payable on 30 June 2026 The Board announced that the FS.COM Limited will distribute an aggregate cash dividend of RMB 200,000,000 (tax inclusive) for the year ended December 31, 2025 (the "Final Dividend") on Tuesday, June 30, 2026. Based on the total number of issued Shares of the Company of 405,675,700 Shares as at May 28, 2026, being the basis for calculating the proposed cash dividend, a cash dividend of approximately RMB 4.93 for every 10 Shares (tax inclusive) will be distributed to all Shareholders. If there is any change in the total issued share capital of the Company before the record date (i.e. June 10, 2026) for the equity distribution, the Company will keep the total distribution amount unchanged and make corresponding adjustment to the distribution ratio per Share. In order to determine the eligibility of Shareholders for the Final Dividend, the Company will suspend registration for transfer of shares from Monday, June 8, 2026 to Wednesday, June 10, 2026 (both dates inclusive), during which period no transfer of Shares will be registered. In order to determine the entitlement to the Final Dividend, all completed share transfer documents together with the relevant share certificates must be lodged with the Company's H Share Registrar, Tricor Investor Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong before 4:30 p.m. on Friday, June 5, 2026. Shareholders whose names appear on the register of members of the Company on Wednesday, June 10, 2026 (the "Record Date") shall be entitled to receive the Final Dividend. Annonce • May 27
FS Launches 400G High-Speed Interconnect Solution for Scalable Cloud Data Center Networking FS, a global provider of ICT products and solutions, announced 400G High-Speed Interconnect Solution for Cloud Data Centers, designed to help organizations build scalable, low-latency, and highly reliable network fabrics for multi-site cloud environments. Built around a 400G Spine-Leaf architecture, the solution addresses rising east-west traffic driven by cloud services, AI applications and large-scale data synchronization, while simplifying deployment and operations as data center networks grow in size and complexity. The architecture includes spine, leaf, border leaf, and DCI gateway layers to support flexible and efficient interconnection across data center environments. The spine layer delivers high-performance Layer 3 forwarding, while the leaf layer provides high-speed server access and VXLAN-based traffic transport. Border leaf and DCI gateway nodes extend connectivity to external networks and geographically distributed data centers. The solution supports EVPN-VXLAN, ECMP, BFD, and EVPN multihoming. These technologies enable active-active forwarding, multi-path load balancing, and fast fault recovery, helping reduce single points of failure and improve network resilience in high-availability environments. The solution is powered by the unified PicOS® network operating system and managed through AmpCon management software for data center networks. PicOS® enables consistent operations across multi-device and multi-tier environments, helping improve network stability and security while reducing the learning curve and simplifying version upgrades and maintenance. AmpCon provides centralized management, topology visibility, and automated lifecycle operations, helping streamline deployment, improve operational efficiency, and simplify ongoing maintenance across the fabric. With this launch, FS further expands its data center networking portfolio and provides customers with a practical path to building scalable, resilient, and easier-to-manage cloud data center networks. Annonce • May 12
FS Launches B300 AI Networking Solution FS, a provider of high-performance and easy-to-deploy networking solutions, announced the launch of its 800G AI Networking Solution for NVIDIA B300 GPU clusters. Built on a 51.2T RoCEv2 Ethernet architecture, the solution is designed to deliver the high bandwidth, ultra-low latency, and scalable lossless connectivity required for large-scale AI training environments. Large-scale AI training places increasingly stringent demands on bandwidth, latency, congestion control, and horizontal scalability, making it difficult for traditional network architectures to meet the dual requirements of performance and stability in modern AI data centers. FS has developed its B300 solution based on 800G Ethernet and a lossless Spine-Leaf fabric architecture. This solution provides a stable, high-performance, and easily scalable network foundation for GPU clusters. It is powered by the unified PicOS network operating system, enabling consistent management across multi-device and multi-tier environments, improving network stability and security while reducing the learning curve and simplifying version upgrades and maintenance. With AmpCon management software for data center networks, FS further enables automated deployment, unified real-time monitoring, and standardized architecture management for AI networks, enhancing network visibility, reducing the complexity of AI data center construction and operations, and helping customers achieve more efficient operational management. Key Highlights of the FS B300 AI Networking Solution include: 51.2T high-throughput network with multi-track optimization; Efficient scalability supports large network deployments; PFC, DCQCN, shared buffers, and intelligent load balancing enable lossless network; Accelerate AI training with a dedicated RDMA storage network. The launch of the FS B300 solution highlights FS’s continuous innovation in AI networking infrastructure and provides the industry with a new high-performance Ethernet option for large-scale AI deployments. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$51.30, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 25x in the Communications industry in Hong Kong. Annonce • May 09
FS.COM Limited, Annual General Meeting, May 28, 2026 FS.COM Limited, Annual General Meeting, May 28, 2026, at 10:00 China Standard Time. Location: salon hall, 5th floor, park hyatt shenzhen, no. 5023 yitian road, futian district, shenzhen China Annonce • Apr 30
FS Inc Launches D5110 16T Solutions for Automated DCI Deployment FS, a global provider of ICT products and solutions, announced new D5110-based Data Center Interconnect (DCI) solutions designed to simplify deployment and automate configuration for point-to-point optical connectivity over distances of up to 120 km. To address these challenges, FS introduces two D5110 Series intelligent DCI solutions featuring an integrated open line system architecture with Zero Touch Provisioning (ZTP) and intelligent auto-tuning, enabling service activation within minutes. The solutions are designed to deliver a deployment experience similar to a passive multiplexer, while maintaining the control and visibility of an active optical system. By integrating multiple functional modules into a compact 1U system, it reduces internal fiber connections by up to 90% and saves up to 70% rack space. The solution is based on the D5110-M04EC-E-ZR+ platform with a 4/8-channel architecture. It delivers a compact 1U dual-fiber design supporting 100G client services with line capacity up to 400G/800G over distances of up to 120 km, enabling simplified metro and enterprise interconnect deployment. The solution is based on the D5110-M40C4-ZR+ platform with a 40-channel architecture. It supports 1–10G NRZ and coherent services from 1G to 400G, delivering up to 16T single-fiber capacity. It is optimized for AI cluster interconnects, large-scale data center networks, and metro capacity expansion, enabling scalable wavelength-based growth and efficient fiber utilization. Together, the two solutions deliver a unified optical architecture supporting both simplified point-to-point connectivity and high-capacity DWDM scaling. With ZTP-based automation and plug-and-play deployment, along with unified management via WebGUI and AmpCon management software, the D5110 Series helps reduce operational complexity, accelerate service activation, and lower total cost of ownership in modern data center networks. The D5110 Series will continue to evolve with ongoing R&D to support single-channel 400G client-side services and integrated single-fiber bidirectional solutions in future releases. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$49.42, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 24x in the Communications industry in Hong Kong. Board Change • Mar 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jing Wang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.