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Chinese pioneer in handwriting/OCR recognition software, e-ink e-readers and tablets, and facial/fingerprint biometric ID systems.
Chinese pioneer in handwriting/OCR recognition software, e-ink e-readers and tablets, and facial/fingerprint biometric ID systems.
Earns from two kinds of business: devices sold to consumers, mainly e-ink readers and writing tablets, and recognition software and terminals sold to government, financial and education customers by project or contract. The software and biometric side matters more as the e-reader category has been declining.
In one line: A small, China-focused mix of Nuance-style OCR and a niche e-reader maker.
Moat: narrow (IP / patents, installed base). Early patents in Chinese handwriting/OCR recognition and long-standing government security relationships.
Headquarters: Beijing, China · Founded: 1998 · Employees: 2,327
Size Hanwang Technology (002362.SZ) is a China Information Technology company (Computer Peripherals) with a market value of $596M, the 3438th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.35 on 6 Nov 2026.
Performance Over six months the shares fell 11.7%, against -12.0% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 2.5% over the last twelve months (peer median +10.4%); the operating margin is -13.0% (peer median 4.1%).
Valuation It trades at 81.8× forward earnings against a peer median of 21.7× (most expensive of 13).
Capital Return on invested capital runs 17.8 points below its cost of capital (6.6% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.88B | CN¥1.88B | CN¥1.81B | CN¥1.44B | CN¥1.39B |
| Revenue growth | — | +4% | +26% | +3% | — |
| Gross profit | CN¥769M | CN¥681M | CN¥673M | CN¥551M | CN¥529M |
| EBITDA | n/a | -CN¥62.3M | -CN¥58.7M | -CN¥142M | -CN¥144M |
| Net income | -CN¥243M | -CN¥196M | -CN¥110M | -CN¥135M | -CN¥136M |
| Free cash flow | -CN¥132M | -CN¥136M | -CN¥106M | -CN¥173M | -CN¥80.3M |
| Capital expenditure | CN¥76.4M | CN¥99.9M | CN¥141M | CN¥117M | CN¥67.1M |
| Total debt | CN¥438M | CN¥371M | CN¥169M | CN¥85.6M | CN¥82.2M |
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 |
|---|---|---|---|---|---|---|
| Hanwang Technology 002362.SZ | $596M | -12% | -2% | -13% | 81.8× | n/a |
| iflytek 002230.SZ | $13.2B | -20% | +11% | -4% | 106.3× | n/a |
| CloudWalk Technology 688327.SS | $1.54B | -28% | -47% | -165% | n/a | 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 | 002362.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | -18.5% | 2nd highest of 21 |
| 6-month return | -11.7% | -12.0% | 11th highest of 21 |
| Distance from 52-week high | -35.3% | -39.2% | 9th highest of 21 |
| Revenue growth (TTM) | -2.5% | +10.4% | 7th lowest of 21 |
| Operating margin | -13.0% | 4.1% | 5th lowest of 21 |
| Forward P/E | 81.8× | 21.7× | most expensive of 13 |
| ROIC minus cost of capital | -17.8 pp | -3.0 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hanwang Technology 002362.SZ | China | $596M | -12% | -2% | -13% | 81.8× | n/a | n/a |
| Chengdu Jiafaantai Education Technology 300559.SZ | China | $602M | -26% | -26% | 0% | 35.5× | 35.7% | -6.0% |
| Wacom 6727.T | Japan | $570M | -6% | -3% | 13% | 9.3× | -6.0% | +0.3% |
| Quantum QMCO | United States | $570M | +100% | +11% | 0% | 27.1× | n/a | n/a |
| Newcapec Electronics 300248.SZ | China | $567M | -17% | +1% | 1% | 32.0× | 21.5% | +0.9% |
| Stratasys SSYS | United States | $565M | -25% | -3% | -14% | 45.9× | n/a | n/a |
| AAEON Technology 6579.TW | Taiwan | $633M | -10% | +30% | 9% | n/a | n/a | n/a |
| Apacer Technology 8271.TW | Taiwan | $655M | -28% | +182% | 31% | 2.1× | n/a | n/a |
| PC Partner PCT.SI | Singapore | $662M | +4% | +18% | 7% | 7.4× | n/a | n/a |
| Hebei Huijin 300368.SZ | China | $667M | -17% | -18% | -124% | n/a | n/a | n/a |
| TES Touch Embedded Solutions (Xiamen) 003019.SZ | China | $668M | -28% | +24% | 8% | 20.7× | n/a | n/a |
| Shenzhen Chengtian Weiye Technology Co 300689.SZ | China | $679M | -27% | +19% | 0% | n/a | n/a | n/a |
| Backblaze BLZE | United States | $523M | +10% | +17% | -4% | 26.7× | 12.7% | +22.1% |
| Shenzhen Minde Electronics Technology 300656.SZ | China | $681M | -13% | -14% | -60% | n/a | n/a | n/a |
| Taiwan Semiconductor 5425.TWO | Taiwan | $520M | +7% | +5% | 9% | 18.3× | 7.6% | +11.6% |
| Muhlbauer Holding AG & Co. KGaA MUB.DE | Germany | $684M | +9% | +2% | 7% | n/a | -4.9% | +11.4% |
| Shenzhen Fluence Technology 300647.SZ | China | $517M | +7% | +12% | -20% | n/a | n/a | n/a |
| Urovo Technology 300531.SZ | China | $693M | -23% | +33% | 8% | 22.8× | n/a | n/a |
| Sato 6287.T | Japan | $508M | +19% | +10% | 7% | 9.9× | -11.3% | +8.4% |
| Huasu 000509.SZ | China | $502M | -13% | -23% | -2% | n/a | n/a | n/a |
| Surfilter Network Technology 300311.SZ | China | $488M | -11% | +15% | 7% | n/a | n/a | n/a |