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Chinese company combining a legacy playing-card manufacturing business with mobile-game publishing and health/medical services.
Chinese company combining a legacy playing-card manufacturing business with mobile-game publishing and health/medical services.
Moat: narrow (brand). Long-established Yaoji playing-card brand plus diversified newer game/healthcare ventures.
Headquarters: Shanghai, China · Employees: 1,654
Size Shanghai Yaoji Technology (002605.SZ) is a China Information Technology company (Packaged Software) with a market value of $1.14B, the 2061st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.29 on 6 Nov 2026.
Performance Over six months the shares fell 10.7%, against -0.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 3.1% over the last twelve months (peer median +13.1%); the operating margin is 20.2% (peer median 2.9%).
Valuation It trades at 15.0× forward earnings against a peer median of 24.0× (5th cheapest of 14).
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 +1%, so the hurdle is +5 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 2.7 points above its cost of capital (8.0% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.50B | CN¥2.68B | CN¥3.25B | CN¥4.30B | CN¥3.91B |
| Revenue growth | — | -18% | -24% | +10% | — |
| Gross profit | CN¥1.07B | CN¥1.11B | CN¥1.36B | CN¥1.57B | CN¥1.47B |
| EBITDA | n/a | CN¥669M | CN¥749M | CN¥815M | CN¥610M |
| Net income | CN¥379M | CN¥467M | CN¥539M | CN¥562M | CN¥349M |
| Free cash flow | CN¥251M | CN¥318M | CN¥412M | CN¥212M | CN¥515M |
| Capital expenditure | CN¥132M | CN¥186M | CN¥183M | CN¥246M | CN¥67.3M |
| Total debt | CN¥1.04B | CN¥1.04B | CN¥949M | CN¥825M | CN¥1.01B |
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| Measure | 002605.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.8% | -5.2% | highest of 21 |
| 6-month return | -10.7% | -0.5% | 8th lowest of 20 |
| Distance from 52-week high | -41.3% | -32.7% | 10th lowest of 21 |
| Revenue growth (TTM) | -3.1% | +13.1% | 4th lowest of 21 |
| Operating margin | 20.2% | 2.9% | 3rd highest of 21 |
| Forward P/E | 15.0× | 24.0× | 5th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 6.4% | 12.6% | 6th least demanding of 12 |
| Growth delivered (Del g) | +1.0% | +18.2% | lowest of 12 |
| Hurdle (Req g minus delivered) | +5.5 pp | -5.4 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | +2.7 pp | -6.6 pp | 7th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Yaoji Technology 002605.SZ | China | $1.14B | -11% | -3% | 20% | 15.0× | 6.4% | +1.0% |
| Hangzhou Diagens Biotechnology 2526.HK | Hong Kong | $1.13B | -68% | +134% | -49% | n/a | n/a | n/a |
| Riskified RSKD | United States | $1.13B | +78% | +10% | -4% | 27.3× | 12.6% | +15.3% |
| Red Violet RDVT | United States | $1.12B | +41% | +20% | 18% | 40.3× | 39.4% | +21.1% |
| 74Software 74SW.PA | France | $1.11B | -5% | +11% | 14% | 13.3× | -1.7% | +18.9% |
| Merit Interactive 300766.SZ | China | $1.17B | -30% | +30% | -2% | n/a | n/a | n/a |
| Chinasoft International 0354.HK | Hong Kong | $1.18B | 0% | +3% | 2% | 12.4× | 17.8% | +3.1% |
| Shenzhen Sunline Tech 300348.SZ | China | $1.10B | -22% | +19% | -1% | 84.3× | n/a | n/a |
| ICkey (Shanghai) Internet & Technology 301563.SZ | China | $1.19B | -26% | +26% | 4% | n/a | n/a | n/a |
| Beijing Zhongke WengeAI Science and Technology 1956.HK | Hong Kong | $1.19B | n/a | +28% | -54% | n/a | n/a | n/a |
| Tansun Technology 300872.SZ | China | $1.08B | -11% | -10% | -12% | 70.3× | n/a | n/a |
| Bingo Software 688227.SS | China | $1.08B | -56% | -7% | -11% | n/a | n/a | n/a |
| Blackbuck BLACKBUCK.NS | India | $1.08B | -1% | +50% | 14% | 52.8× | 34.8% | +54.8% |
| BigBear.ai BBAI | United States | $1.07B | -47% | -1% | -66% | n/a | n/a | n/a |
| Modern Times Group MTG MTG-A.ST | Sweden | $1.22B | +16% | +42% | 11% | 6.6× | -8.4% | +23.7% |
| Vitec Software VIT-B.ST | Sweden | $1.22B | +18% | +6% | 21% | 24.0× | 3.8% | +22.6% |
| InnovAge INNV | United States | $1.22B | +18% | +15% | 8% | 19.8× | -6.7% | +9.2% |
| Cyient CYIENT.NS | India | $1.23B | +24% | +10% | 9% | 20.2× | 20.3% | +12.0% |
| Bravura Solutions BVS.AX | Australia | $1.06B | +50% | -10% | 25% | 24.3× | 4.1% | +3.1% |
| PagerDuty PD | United States | $1.23B | +115% | +2% | 7% | 11.1× | 12.8% | +18.2% |
| PATEO CONNECT Technology (Shanghai) 2889.HK | Hong Kong | $1.05B | -65% | +72% | -24% | n/a | n/a | n/a |