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Employees: 1,263
Size Tatwah Smartech (002512.SZ) is a China Information Technology company (Telecommunications Equipment) with a market value of $567M, the 3561st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.60 on 6 Nov 2026.
Performance Over six months the shares fell 16.5%, against -26.1% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 32.1% over the last twelve months (peer median +15.3%); the operating margin is -0.1% (peer median -0.1%).
Valuation It trades at 1.7× enterprise value to sales against a peer median of 4.4× (5th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +39 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.1 points below its cost of capital (8.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.39B | CN¥1.85B | CN¥1.93B | CN¥1.96B | CN¥1.74B |
| Revenue growth | — | -4% | -2% | +13% | — |
| Gross profit | CN¥347M | CN¥176M | CN¥150M | CN¥182M | CN¥120M |
| EBITDA | n/a | CN¥8.83M | CN¥42.1M | CN¥56.8M | -CN¥46.1M |
| Net income | -CN¥26.9M | -CN¥202M | CN¥24.2M | -CN¥356M | -CN¥327M |
| Free cash flow | CN¥87.4M | -CN¥32.4M | -CN¥236M | -CN¥705M | -CN¥558M |
| Capital expenditure | CN¥31.4M | CN¥14.1M | CN¥227M | CN¥501M | CN¥680M |
| Total debt | CN¥370M | CN¥458M | CN¥401M | CN¥1.17B | CN¥981M |
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.
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 | 002512.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.8% | -7.9% | 10th highest of 21 |
| 6-month return | -16.5% | -26.1% | 8th highest of 21 |
| Distance from 52-week high | -57.0% | -48.5% | 4th lowest of 21 |
| Revenue growth (TTM) | +32.1% | +15.3% | 7th highest of 21 |
| Operating margin | -0.1% | -0.1% | 11th highest of 21 |
| EV / Sales | 1.7× | 4.4× | 5th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 36.0% | 25.9% | 3rd most demanding of 7 |
| Growth delivered (Del g) | -2.6% | +1.4% | 3rd lowest of 7 |
| Hurdle (Req g minus delivered) | +38.6 pp | +26.3 pp | 2nd most demanding of 7 |
| ROIC minus cost of capital | -2.1 pp | -5.8 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tatwah Smartech 002512.SZ | China | $567M | -16% | +32% | 0% | 1.7× | 36.0% | -2.6% |
| Gilat Satellite Networks GILT | United States | $554M | -63% | +39% | 5% | 0.8× | n/a | n/a |
| Sercomm 5388.TW | Taiwan | $591M | -19% | +34% | 3% | 0.3× | n/a | n/a |
| Invengo Information Technology 002161.SZ | China | $538M | -27% | -2% | -19% | 6.5× | 26.0% | +4.9% |
| Chengdu M&S Electronics Technology 688311.SS | China | $618M | -32% | +66% | -22% | 8.3× | n/a | n/a |
| Queclink Wireless Solutions 300590.SZ | China | $619M | -39% | +37% | 9% | 2.7× | n/a | n/a |
| Raisecom Technology 603803.SS | China | $518M | -43% | +8% | -6% | 2.7× | n/a | n/a |
| Zhejiang Shengyang Science & Technology 603703.SS | China | $624M | -26% | +38% | -3% | 4.1× | n/a | n/a |
| MeiG Smart Technology 3268.HK | Hong Kong | $628M | -30% | +31% | 7% | 0.9× | n/a | n/a |
| Beijing Jiaxun Feihong Electrical 300213.SZ | China | $634M | -15% | -9% | -17% | 4.5× | 20.0% | -2.1% |
| Guangzhou Hi-Target Navigation Tech 300177.SZ | China | $635M | -30% | -25% | -32% | 4.9× | 25.8% | -10.6% |
| Filtronic FTC.L | United Kingdom | $639M | -41% | -1% | 7% | 8.4× | 59.4% | +29.0% |
| GHT 300711.SZ | China | $650M | -26% | +29% | 14% | 4.3× | n/a | n/a |
| Ependion EPEN.ST | Sweden | $483M | +6% | +13% | 11% | 2.1× | 10.9% | +9.2% |
| Jilin University Zhengyuan Information Technologies 003029.SZ | China | $478M | -20% | +1% | -29% | 8.4× | n/a | n/a |
| Frequency Electronics FEIM | United States | $679M | +3% | +6% | 8% | 8.6× | n/a | n/a |
| Sichuan Tianyi Comheart Telecom 300504.SZ | China | $685M | -1% | +17% | 3% | 2.8× | n/a | n/a |
| Sunsea AIoT Technology 002313.SZ | China | $469M | -13% | +11% | -4% | 1.4× | n/a | n/a |
| Suzhou Shijia Science & Technology 002796.SZ | China | $696M | -67% | -4% | -7% | 5.6× | 38.8% | -10.4% |
| Creotech Instruments CRI.WA | Poland | $697M | +15% | +96% | 11% | 17.0× | n/a | n/a |
| H&R Century Union 000892.SZ | China | $699M | -4% | +21% | -52% | 7.7× | n/a | n/a |