Dalian Morningstar Network Technology Co.,Ltd. (002447.SZ)

Dalian Morningstar Network Technology Co.,Ltd. (002447.SZ) — VMCI valuation read

Dalian Morningstar Network Technology Co.,Ltd. sits at VMCI 44/100, with the Technology sector median at 50. That 6-point spread is the first thing to note on 002447.SZ: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 002447.SZ are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 002447.SZ: 002447.SZ trades at 22.0x earnings, 22% above the Technology median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Technology median (10.0%). The Risk read: net debt to EBITDA of -1.8x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

002447.SZ fell 2.1% over the trailing 7 days, with a +2.9% read on a 30-day basis.