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Cybersecurity subsidiary of state defense-electronics group CETC, selling security products mainly to government and military.
Cybersecurity subsidiary of state defense-electronics group CETC, selling security products mainly to government and military.
Sells cryptographic hardware and secure-communication systems through project contracts with government, military and state-owned buyers, so orders follow public budgets and approval cycles. It grew out of a research institute of the state electronics group CETC.
Moat: narrow (regulatory licence, customer qualification). State-approved security-product qualifications are required to sell to government/military.
Headquarters: Chengdu, Sichuan, China · Employees: 2,398
Size CETC Cyberspace Security Technology (002268.SZ) is a China Information Technology company (Information Technology Services) with a market value of $1.77B, the 1407th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.94 on 6 Nov 2026.
Performance Over six months the shares fell 11.1%, against +1.1% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 3.4% over the last twelve months (peer median +8.0%); the operating margin is 1.2% (peer median 8.1%).
Valuation It trades at 45.0× forward earnings against a peer median of 20.8× (2nd most expensive of 17).
Capital Return on invested capital runs 7.8 points below its cost of capital (10.4% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.16B | CN¥2.26B | CN¥2.46B | CN¥3.05B | CN¥3.42B |
| Revenue growth | — | -8% | -19% | -11% | — |
| Gross profit | CN¥769M | CN¥716M | CN¥873M | CN¥1.16B | CN¥1.13B |
| EBITDA | n/a | CN¥123M | CN¥232M | CN¥436M | CN¥407M |
| Net income | CN¥58.3M | CN¥57.6M | CN¥158M | CN¥349M | CN¥307M |
| Free cash flow | -CN¥29.3M | CN¥256M | -CN¥546M | CN¥532M | CN¥261M |
| Capital expenditure | CN¥67.5M | CN¥71.7M | CN¥95.7M | CN¥90.1M | CN¥96.9M |
| Total debt | CN¥155M | CN¥199M | CN¥176M | CN¥292M | CN¥441M |
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 |
|---|---|---|---|---|---|---|
| CETC Cyberspace Security Technology 002268.SZ | $1.77B | -11% | -3% | 1% | 45.0× | n/a |
| Venustech 002439.SZ | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% |
| Suzhou Novosense Microelectronics 688052.SS | $3.60B | -15% | +77% | -2% | 209.7× | n/a |
| Qi An Xin Technology 688561.SS | $2.61B | -15% | -14% | -45% | n/a | n/a |
| Sangfor Technologies 300454.SZ | $7.84B | +5% | +21% | 2% | 71.4× | 46.1% |
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 | 002268.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.5% | -0.4% | 10th lowest of 21 |
| 6-month return | -11.1% | +1.1% | 9th lowest of 21 |
| Distance from 52-week high | -41.4% | -25.6% | 5th lowest of 21 |
| Revenue growth (TTM) | -3.4% | +8.0% | 3rd lowest of 21 |
| Operating margin | 1.2% | 8.1% | 3rd lowest of 21 |
| Forward P/E | 45.0× | 20.8× | 2nd most expensive of 17 |
| ROIC minus cost of capital | -7.8 pp | +1.4 pp | 4th lowest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CETC Cyberspace Security Technology 002268.SZ | China | $1.77B | -11% | -3% | 1% | 45.0× | n/a | n/a |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| A10 Networks ATEN | United States | $1.80B | -11% | +12% | 17% | 22.0× | 16.7% | +5.2% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| Sigma Advanced Systems SIGMAADV.NS | India | $1.83B | +196% | +358% | 12% | n/a | n/a | n/a |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Concentrix CNXC | United States | $1.85B | +25% | +3% | 8% | 2.6× | -11.9% | +15.8% |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Computer Age Management Services CAMS.NS | India | $1.87B | -15% | +9% | 39% | 32.3× | n/a | n/a |
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |
| secunet Security Networks YSN.DE | Germany | $1.66B | +20% | +13% | 11% | 37.3× | n/a | n/a |
| Mega Fortune MGRT | United States | $1.65B | -14% | -8% | -37% | n/a | n/a | n/a |
| Zen Technologies ZENTEC.NS | India | $1.64B | +6% | +4% | 31% | 45.7× | 53.0% | +66.0% |
| Kainos KNOS.L | United Kingdom | $1.92B | +57% | +17% | 11% | 23.2× | 21.7% | +12.9% |
| CETC Digital Technology 600850.SS | China | $1.62B | -18% | -1% | 2% | 17.3× | 19.1% | +5.8% |
| GMO Internet 9449.T | Japan | $1.94B | -4% | +6% | 21% | 13.4× | n/a | n/a |
| PDF Solutions PDFS | United States | $1.59B | -27% | +23% | 8% | 26.0× | n/a | n/a |
| Atea ATEA.OL | Norway | $1.99B | +6% | +12% | 4% | 16.4× | -5.0% | -1.1% |
| PC Connection CNXN | United States | $2.00B | +19% | +10% | 4% | 16.6× | n/a | n/a |
| Data#3 DTL.AX | Australia | $1.54B | +81% | +6% | 8% | 31.6× | 26.9% | -14.2% |