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Chinese software vendor building IT systems for the electric-power industry, including grid and energy-trading platforms.
Chinese software vendor building IT systems for the electric-power industry, including grid and energy-trading platforms.
Moat: narrow (customer qualification, switching costs). Software embedded in utility operations is costly and risky for a utility to replace.
Headquarters: Beijing, China · Employees: 4,211
Size Beijing Ultrapower Software (300002.SZ) is a China Information Technology company (Information Technology Services) with a market value of $2.43B, the 1056th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.36 on 6 Nov 2026.
Performance Over six months the shares fell 14.1%, against -10.2% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +9.5%); the operating margin is 14.7% (peer median 8.9%).
Valuation It trades at 20.4× forward earnings against a peer median of 31.8× (6th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.8 points above its cost of capital (8.5% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.58B | CN¥5.81B | CN¥6.45B | CN¥5.96B | CN¥4.80B |
| Revenue growth | — | -10% | +8% | +24% | — |
| Gross profit | CN¥3.08B | CN¥3.25B | CN¥3.82B | CN¥3.59B | CN¥2.75B |
| EBITDA | n/a | CN¥1.17B | CN¥1.70B | CN¥1.17B | CN¥724M |
| Net income | CN¥618M | CN¥802M | CN¥1.43B | CN¥887M | CN¥541M |
| Free cash flow | CN¥1.11B | CN¥1.15B | CN¥1.52B | CN¥916M | CN¥830M |
| Capital expenditure | CN¥172M | CN¥79.8M | CN¥164M | CN¥169M | CN¥102M |
| Total debt | CN¥259M | CN¥65.4M | CN¥50.2M | CN¥67.0M | CN¥64.0M |
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 |
|---|---|---|---|---|---|---|
| Beijing Ultrapower Software 300002.SZ | $2.43B | -14% | +9% | 15% | 20.4× | 4.2% |
| Longshine Technology 300682.SZ | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% |
| NARI Technology 600406.SS | $28.6B | -8% | +12% | 13% | 21.7× | 2.5% |
| Beijing Creative 002350.SZ | $946M | -19% | +7% | -1% | n/a | 54.8% |
| Dongfang Electronics 000682.SZ | $2.06B | -21% | +14% | 7% | 13.7× | 8.9% |
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 | 300002.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.7% | -0.8% | 5th highest of 21 |
| 6-month return | -14.1% | -10.2% | 10th lowest of 21 |
| Distance from 52-week high | -40.2% | -33.4% | 8th lowest of 21 |
| Revenue growth (TTM) | +9.5% | +9.5% | 11th highest of 21 |
| Operating margin | 14.7% | 8.9% | 8th highest of 21 |
| Forward P/E | 20.4× | 31.8× | 6th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 4.2% | 21.7% | 4th least demanding of 14 |
| Growth delivered (Del g) | +10.2% | +8.8% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | -6.0 pp | +8.8 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +6.8 pp | +4.7 pp | 7th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Ultrapower Software 300002.SZ | China | $2.43B | -14% | +9% | 15% | 20.4× | 4.2% | +10.2% |
| Netcompany Group A/S NETC.CO | Denmark | $2.44B | +1% | +30% | 11% | 20.4× | n/a | n/a |
| OVH Groupe OVH.PA | France | $2.41B | +17% | +6% | 38% | 46.6× | n/a | n/a |
| HMS Networks HMS.ST | Sweden | $2.41B | -17% | +15% | 27% | 31.9× | 14.3% | +19.5% |
| Tata Elxsi TATAELXSI.NS | India | $2.52B | -10% | +10% | 20% | 32.7× | 25.3% | +15.5% |
| Fastly FSLY | United States | $2.52B | -23% | +20% | -12% | 24.4× | 37.8% | +16.5% |
| Hangzhou Turbine Power 300277.SZ | China | $2.57B | -37% | +1,784% | 3% | 33.2× | 36.4% | -10.7% |
| Tieto TIETO.HE | Finland | $2.26B | -5% | -17% | 20% | 10.4× | -6.4% | -7.8% |
| Hand Enterprise Solutions 300170.SZ | China | $2.24B | -26% | +7% | 6% | 48.8× | 27.4% | +6.5% |
| Posco Dx 022100.KS | South Korea | $2.24B | -43% | -15% | 3% | 69.6× | 34.8% | +2.2% |
| Shanghai AtHub 603881.SS | China | $2.66B | -33% | -5% | 16% | 101.4× | 16.9% | +13.6% |
| Shanghai Sunmi Technology 6810.HK | Hong Kong | $2.70B | -10% | +10% | 7% | n/a | n/a | n/a |
| Runjian 002929.SZ | China | $2.71B | +6% | -11% | 0% | 49.7× | n/a | n/a |
| Glodon 002410.SZ | China | $2.15B | -21% | -4% | 8% | 31.6× | 5.4% | +8.8% |
| Beijing Teamsun Technology 600410.SS | China | $2.09B | -42% | +19% | -9% | n/a | 26.0% | +3.6% |
| Globant GLOB | United States | $2.05B | +21% | -1% | 10% | 8.0× | -1.2% | +24.7% |
| PC Connection CNXN | United States | $2.00B | +19% | +10% | 4% | 16.6× | n/a | n/a |
| Atea ATEA.OL | Norway | $1.99B | +6% | +12% | 4% | 16.4× | -5.0% | -1.1% |
| GMO Internet 9449.T | Japan | $1.94B | -4% | +6% | 21% | 13.4× | n/a | n/a |
| Kainos KNOS.L | United Kingdom | $1.92B | +57% | +17% | 11% | 23.2× | 21.7% | +12.9% |
| Computer Age Management Services CAMS.NS | India | $1.87B | -15% | +9% | 39% | 32.3× | n/a | n/a |