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Online and mobile game developer/publisher, also holding investments in film/media and other internet businesses.
Online and mobile game developer/publisher, also holding investments in film/media and other internet businesses.
Earns from players' in-game purchases, with app stores and distribution platforms taking a cut, so revenue depends on a few titles staying popular and on marketing spend to keep players. Beyond games, it holds equity investments in media and internet companies, which add occasional gains or losses.
Moat: none (brand). Competes in a crowded mobile-gaming market without a clearly dominant franchise.
Headquarters: Xiamen, Fujian, China · Founded: 1995 · Employees: 2,248
Size Kingnet Network (002517.SZ) is a China Information Technology company (Packaged Software) with a market value of $5.47B, the 458th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.18 on 6 Nov 2026.
Performance Over six months the shares fell 4.5%, against +16.6% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 61.6% over the last twelve months (peer median +13.7%); the operating margin is 28.5% (peer median 15.6%).
Valuation It trades at 13.7× forward earnings against a peer median of 22.4× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 21.3 points above its cost of capital (10.6% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.51B | CN¥5.31B | CN¥5.10B | CN¥4.28B | CN¥3.72B |
| Revenue growth | — | +4% | +19% | +15% | — |
| Gross profit | CN¥6.59B | CN¥4.26B | CN¥4.13B | CN¥3.55B | CN¥2.78B |
| EBITDA | n/a | CN¥1.97B | CN¥1.73B | CN¥1.66B | CN¥1.41B |
| Net income | CN¥2.39B | CN¥1.90B | CN¥1.63B | CN¥1.46B | CN¥1.03B |
| Free cash flow | CN¥2.89B | CN¥2.14B | CN¥1.51B | CN¥1.52B | CN¥1.35B |
| Capital expenditure | CN¥106M | CN¥133M | CN¥264M | CN¥191M | CN¥132M |
| Total debt | CN¥1.57B | CN¥395M | CN¥112M | CN¥20.8M | CN¥38.5M |
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 |
|---|---|---|---|---|---|---|
| Kingnet Network 002517.SZ | $5.47B | -4% | +62% | 29% | 13.7× | 6.3% |
| 37 Interactive Entertainment Network Technology 002555.SZ | $5.29B | -24% | -10% | 14% | 14.2× | 5.0% |
| Giant Network 002558.SZ | $5.61B | -35% | +105% | 48% | 10.0× | -2.1% |
| Zhejiang Century Huatong 002602.SZ | $14.0B | -20% | +28% | 21% | 11.1× | -0.2% |
| Perfect World 002624.SZ | $3.26B | -26% | -8% | 8% | 21.1× | 19.0% |
| G-Bits Network Technology (Xiamen) 603444.SS | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% |
| YOOZOO Interactive 002174.SZ | $1.61B | +9% | -1% | -20% | 24.7× | n/a |
| NTES 9999.HK | $81.4B | +8% | +10% | 35% | 14.0× | -3.5% |
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 | 002517.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.5% | +3.9% | 9th highest of 21 |
| 6-month return | -4.5% | +16.6% | 7th lowest of 19 |
| Distance from 52-week high | -39.0% | -28.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +61.6% | +13.7% | 2nd highest of 21 |
| Operating margin | 28.5% | 15.6% | 5th highest of 21 |
| Forward P/E | 13.7× | 22.4× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 6.3% | 15.6% | 4th least demanding of 18 |
| Growth delivered (Del g) | +28.1% | +14.6% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | -21.8 pp | -3.7 pp | 2nd least demanding of 18 |
| ROIC minus cost of capital | +21.3 pp | +1.0 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kingnet Network 002517.SZ | China | $5.47B | -4% | +62% | 29% | 13.7× | 6.3% | +28.1% |
| Waystar WAY | United States | $5.45B | +33% | +21% | 24% | 15.8× | 7.5% | +16.0% |
| Trend Micro 4704.T | Japan | $5.39B | +18% | +7% | 18% | 27.4× | -4.1% | +9.7% |
| Octave Intelligence OCTV | United States | $5.60B | n/a | +1% | 20% | 14.7× | 17.0% | +1.3% |
| Giant Network 002558.SZ | China | $5.61B | -35% | +105% | 48% | 10.0× | -2.1% | +17.9% |
| Varonis Systems VRNS | United States | $5.63B | +71% | +18% | -25% | 138.0× | 23.0% | +16.3% |
| 37 Interactive Entertainment Network Technology 002555.SZ | China | $5.29B | -24% | -10% | 14% | 14.2× | 5.0% | +2.1% |
| AutoStore AUTO.OL | Norway | $5.20B | +8% | +17% | 33% | 27.4× | 18.5% | +27.0% |
| Doximity DOCS | United States | $5.79B | +25% | +11% | 31% | 23.3× | 16.3% | +25.5% |
| BlackBerry BB.TO | Canada | $5.16B | +48% | +14% | 16% | 40.8× | 33.6% | -8.6% |
| Mphasis MPHASIS.NS | India | $5.15B | +15% | +14% | 15% | 22.4× | 28.7% | +10.6% |
| Lumine LMN.V | Canada | $5.14B | +38% | +15% | 21% | 18.1× | 15.6% | +36.8% |
| iSoftStone Information Technology (Group) 301236.SZ | China | $5.13B | -16% | +13% | 0% | 105.2× | n/a | n/a |
| Klaviyo KVYO | United States | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% | +37.7% |
| Baige Online Digital Technology 2672.HK | Hong Kong | $5.07B | n/a | +34% | -3% | n/a | n/a | n/a |
| Sezzle SEZL | United States | $5.05B | +146% | +43% | 40% | 22.4× | 28.8% | +50.3% |
| Shanghai Baosight Software 600845.SS | China | $5.97B | -24% | +11% | 10% | 30.3× | 6.9% | +1.4% |
| Beijing HyperStrong Technology 688411.SS | China | $4.99B | -29% | +38% | 12% | 16.7× | n/a | n/a |
| NIQ Global Intelligence NIQ | United States | $6.02B | +5% | +9% | 8% | 17.1× | 10.9% | +14.6% |
| Hundsun Technologies 600570.SS | China | $6.05B | -20% | -5% | 9% | 30.1× | 34.8% | +7.0% |
| ACI Worldwide ACIW | United States | $6.06B | +32% | +7% | 19% | 22.9× | 11.8% | +6.3% |