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Maker of satellite, maritime and military communications equipment, including Beidou navigation products.
Maker of satellite, maritime and military communications equipment, including Beidou navigation products.
Sells communications equipment to military and government customers under contracts and tenders, so sales follow defense budgets and programme schedules. Beidou navigation terminals and maritime communications for ships are its other lines.
Moat: narrow (regulatory licence, IP / patents). Defense-related qualification and Beidou-linked patents restrict competition to a small licensed set of suppliers.
Headquarters: Guangzhou, China · Employees: 7,874
Size Guangzhou Haige Communications (002465.SZ) is a China Communication Services company (Wireless Telecommunications) with a market value of $3.43B, the 754th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.92 on 6 Nov 2026.
Performance Over six months the shares fell 38.4%, against -10.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 19 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +5.4%); the operating margin is -15.6% (peer median 11.1%).
Valuation It trades at 6.0× enterprise value to sales against a peer median of 2.8× (5th most expensive of 20).
Capital Return on invested capital runs 10.0 points below its cost of capital (7.4% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.36B | CN¥4.38B | CN¥4.90B | CN¥6.40B | CN¥5.57B |
| Revenue growth | — | -11% | -23% | +15% | — |
| Gross profit | CN¥1.10B | CN¥901M | CN¥1.27B | CN¥1.93B | CN¥1.82B |
| EBITDA | n/a | -CN¥475M | CN¥81.5M | CN¥701M | CN¥734M |
| Net income | -CN¥736M | -CN¥786M | CN¥53.1M | CN¥703M | CN¥668M |
| Free cash flow | -CN¥826M | -CN¥1.40B | -CN¥1.42B | -CN¥707M | -CN¥394M |
| Capital expenditure | CN¥571M | CN¥777M | CN¥687M | CN¥462M | CN¥391M |
| Total debt | CN¥5.19B | CN¥5.33B | CN¥3.92B | CN¥1.74B | CN¥744M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Guangzhou Haige Communications 002465.SZ | $3.43B | -38% | +1% | -16% | 6.0× | n/a |
| China Satellite Communications 601698.SS | $13.9B | -40% | -2% | 10% | 35.3× | 40.0% |
| Beijing BDStar Navigation 002151.SZ | $2.10B | -36% | +35% | -14% | 5.1× | n/a |
| Gilat Satellite Networks GILT | $554M | -63% | +39% | 5% | 0.8× | n/a |
| ViaSat VSAT | $8.81B | -9% | +1% | 2% | 3.0× | 42.8% |
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 | 002465.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.0% | -2.7% | 10th highest of 20 |
| 6-month return | -38.4% | -10.0% | 2nd lowest of 19 |
| Distance from 52-week high | -62.7% | -29.9% | lowest of 20 |
| Revenue growth (TTM) | +1.1% | +5.4% | 8th lowest of 20 |
| Operating margin | -15.6% | 11.1% | 2nd lowest of 20 |
| EV / Sales | 6.0× | 2.8× | 5th most expensive of 20 |
| ROIC minus cost of capital | -10.0 pp | +1.3 pp | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangzhou Haige Communications 002465.SZ | China | $3.43B | -38% | +1% | -16% | 6.0× | n/a | n/a |
| Telephone and Data Systems TDS | United States | $3.54B | -29% | -74% | -3% | 3.1× | n/a | n/a |
| Sunrise Communications SUNN.SW | Switzerland | $3.92B | +2% | -1% | 3% | 3.0× | 21.2% | n/a |
| Turkcell Iletisim Hizmetleri A.S. Sponsored ADR TKC | United States | $4.02B | -31% | +16% | 15% | 1.0× | -12.0% | +8.1% |
| Array Digital Infrastructure AD | United States | $2.59B | -46% | -94% | 1% | 15.8× | n/a | n/a |
| VEON Ltd. Sponsored ADR VEON | United States | $4.95B | +57% | +15% | 23% | 1.8× | -4.8% | -9.1% |
| Digi Spain Telecom, S.A. Unipersonal DIGIS.MC | Spain | $2.16B | n/a | +19% | 6% | 2.8× | n/a | n/a |
| Orange Polska OPL.WA | Poland | $5.53B | +7% | +5% | 9% | 2.1× | 13.2% | +2.7% |
| TPG Telecom TPG.AX | Australia | $5.58B | +1% | -5% | 8% | 2.4× | 8.1% | +3.0% |
| Elisa ELISA.HE | Finland | $6.11B | -17% | 0% | 20% | 3.1× | -2.7% | +3.6% |
| Okinawa Cellular Telephone 9436.T | Japan | $1.90B | -3% | +5% | 24% | 3.3× | -3.7% | +3.1% |
| Anterix ATEX | United States | $1.46B | +33% | +19% | -579% | 190.7× | 45.3% | +47.8% |
| TIM S.A. Sponsored ADR TIMB | United States | $8.61B | -24% | +14% | 25% | 2.1× | -12.4% | +7.3% |
| Bharti Hexacom BHARTIHEXA.NS | India | $8.84B | +10% | +8% | 29% | 9.2× | 33.4% | +15.2% |
| PT Telkom Indonesia (Persero) Tbk Sponsored ADR TLK | United States | $10.3B | -35% | -3% | 24% | 1.6× | -16.1% | -1.1% |
| Globalstar GSAT | United States | $10.9B | +3% | +8% | 5% | 38.9× | n/a | n/a |
| SKTelecom 017670.KS | South Korea | $12.1B | -18% | +2% | 10% | 0.9× | -9.8% | +1.2% |
| Far Eastone Telecommunications 4904.TW | Taiwan | $12.2B | +17% | +10% | 15% | 3.8× | 3.8% | +6.8% |
| Airtel Africa AAF.L | United Kingdom | $13.5B | -33% | +27% | 34% | 2.5× | -1.2% | +10.0% |
| Telecom Italia TIT.MI | Italy | $13.6B | -20% | 0% | 11% | 1.8× | 5.3% | -2.8% |