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Tsinghua-linked technology group making servers, storage and cloud-computing infrastructure, historically tied to an HPE joint venture.
Tsinghua-linked technology group making servers, storage and cloud-computing infrastructure, historically tied to an HPE joint venture.
Most of its business runs through H3C, a networking and server maker in which it holds the controlling stake, selling to carriers, internet companies and large enterprises as they expand data centers.
In one line: China's a server/storage OEM like Super Micro's Chinese counterpart.
Moat: narrow (scale, installed base). Scale in domestic server/storage manufacturing, aided by past HPE technology-sharing ties.
Headquarters: Beijing, China · Founded: 1999 · Employees: 16,253
Size Unisplendour (000938.SZ) is a China Information Technology company (Computer Peripherals) with a market value of $10.4B, the 238th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥24.33 on 6 Nov 2026.
Performance Over six months the shares fell 23.9%, against +4.4% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 24.7% over the last twelve months (peer median +8.4%); the operating margin is 3.0% (peer median 12.4%).
Valuation It trades at 21.8× forward earnings against a peer median of 12.4× (6th most expensive of 18).
Capital Return on invested capital runs 2.1 points below its cost of capital (7.3% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥122B | CN¥96.6B | CN¥78.9B | CN¥77.0B | CN¥73.8B |
| Revenue growth | — | +22% | +2% | +4% | — |
| Gross profit | CN¥16.3B | CN¥13.4B | CN¥13.0B | CN¥14.2B | CN¥14.4B |
| EBITDA | n/a | CN¥4.09B | CN¥3.53B | CN¥4.53B | CN¥5.38B |
| Net income | CN¥3.05B | CN¥1.69B | CN¥1.57B | CN¥2.10B | CN¥2.16B |
| Free cash flow | -CN¥5.99B | CN¥2.96B | CN¥2.04B | -CN¥2.64B | CN¥3.62B |
| Capital expenditure | CN¥688M | CN¥613M | CN¥534M | CN¥941M | CN¥483M |
| Total debt | CN¥46.5B | CN¥28.4B | CN¥24.8B | CN¥15.6B | CN¥9.16B |
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 |
|---|---|---|---|---|---|---|
| Unisplendour 000938.SZ | $10.4B | -24% | +25% | 3% | 21.8× | n/a |
| IEIT SYSTEMS Co., Ltd.Class A 000977.SZ | $12.1B | -21% | +14% | 3% | 14.3× | 7.7% |
| Lenovo 0992.HK | $30.8B | +50% | +26% | 5% | 8.2× | -15.0% |
| Supermicro SMCI | $18.9B | -19% | +156% | 9% | 4.8× | n/a |
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 | 000938.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.5% | -20.5% | 10th highest of 21 |
| 6-month return | -23.9% | +4.4% | 4th lowest of 21 |
| Distance from 52-week high | -46.9% | -32.8% | 4th lowest of 21 |
| Revenue growth (TTM) | +24.7% | +8.4% | 7th highest of 21 |
| Operating margin | 3.0% | 12.4% | 4th lowest of 21 |
| Forward P/E | 21.8× | 12.4× | 6th most expensive of 18 |
| ROIC minus cost of capital | -2.1 pp | +6.1 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Unisplendour 000938.SZ | China | $10.4B | -24% | +25% | 3% | 21.8× | n/a | n/a |
| Biwin Storage Technology 688525.SS | China | $8.99B | -52% | +221% | 41% | 5.0× | n/a | n/a |
| Hubei Dinglong 300054.SZ | China | $8.79B | -2% | +7% | 30% | 51.4× | 32.2% | +15.0% |
| Logitech International LOGN.SW | Switzerland | $13.2B | -1% | -1% | 18% | 16.8× | -5.7% | -4.3% |
| Lite-on Technology 2301.TW | Taiwan | $13.2B | +16% | +24% | 13% | 13.8× | n/a | n/a |
| Everdisplay Optronics (Shanghai) 688538.SS | China | $6.72B | -9% | -2% | -31% | n/a | n/a | n/a |
| Brother Industries 6448.T | Japan | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% | +7.2% |
| Shenzhen Kaifa Technology 000021.SZ | China | $6.13B | -11% | +14% | 11% | 29.2× | n/a | n/a |
| AUO 2409.TW | Taiwan | $6.02B | +49% | -1% | -2% | n/a | n/a | n/a |
| Gigabyte Technology 2376.TW | Taiwan | $6.01B | +7% | +38% | 5% | 8.1× | n/a | n/a |
| Seiko Epson 6724.T | Japan | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% | +7.2% |
| E Ink 8069.TWO | Taiwan | $4.98B | +2% | -3% | 29% | 12.4× | -0.3% | +18.6% |
| Jentech Precision Industrial 3653.TW | Taiwan | $23.1B | +9% | +28% | 33% | 48.3× | 32.5% | +24.3% |
| Canon 7751.T | Japan | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% | +7.9% |
| Sichuan Changhong Electric 600839.SS | China | $3.55B | -41% | +4% | 0% | n/a | n/a | n/a |
| Hangzhou EZVIZ Network 688475.SS | China | $3.53B | -4% | +8% | 12% | 30.1× | 15.7% | +13.8% |
| Micro-Star International 2377.TW | Taiwan | $3.50B | +43% | +1% | 5% | 11.6× | n/a | n/a |
| Everpure P | United States | $32.2B | +24% | +27% | 5% | 29.6× | 58.7% | +16.8% |
| NetApp NTAP | United States | $33.2B | +43% | +12% | 26% | 17.0× | 15.2% | +3.8% |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 3.2× | n/a | n/a |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |