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Operator of a leading Chinese stock-trading and financial-data app ('Tonghuashun'), monetized through software and advertising.
Operator of a leading Chinese stock-trading and financial-data app ('Tonghuashun'), monetized through software and advertising.
Gives most users the app free and makes money from brokers, who pay for advertising and promotion that steers retail investors to open accounts, and from paid data and analysis subscriptions. Income therefore rises and falls with how actively Chinese retail investors trade. Founder Yi Zhengming controls the company.
In one line: A Chinese Bloomberg-meets-Yahoo Finance for retail traders.
Moat: narrow (network effects, brand, distribution). Dominant retail-trading app with a large user base and advertising/subscription monetisation.
Headquarters: Hangzhou, Zhejiang, China · Founded: 1999 · Employees: 5,087
Size Hithink RoyalFlush Information Network (300033.SZ) is a China Information Technology company (Packaged Software) with a market value of $22.9B, the 87th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥202.70 on 6 Nov 2026.
Performance Over six months the shares fell 13.7%, against +15.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 47.9% over the last twelve months (peer median +20.0%); the operating margin is 55.6% (peer median 10.2%).
Valuation It trades at 32.7× forward earnings against a peer median of 25.6× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +21 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.
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.56B | CN¥5.99B | CN¥4.16B | CN¥3.51B | CN¥3.51B |
| Revenue growth | — | +44% | +19% | 0% | — |
| Gross profit | CN¥7.03B | CN¥5.40B | CN¥3.64B | CN¥3.04B | CN¥3.09B |
| EBITDA | n/a | CN¥3.36B | CN¥1.74B | CN¥1.31B | CN¥1.60B |
| Net income | CN¥4.04B | CN¥3.21B | CN¥1.82B | CN¥1.40B | CN¥1.69B |
| Free cash flow | CN¥4.58B | CN¥3.64B | CN¥2.21B | CN¥1.39B | CN¥1.47B |
| Capital expenditure | CN¥188M | CN¥142M | CN¥104M | CN¥201M | CN¥282M |
| Total debt | CN¥0 | CN¥0 | CN¥0 | CN¥948,896 | CN¥1.87M |
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 |
|---|---|---|---|---|---|---|
| Hithink RoyalFlush Information Network 300033.SZ | $22.9B | -14% | +48% | 56% | 32.7× | 37.1% |
| East Money Information 300059.SZ | $44.5B | -8% | +16% | 76% | 19.7× | 15.1% |
| Beijing Compass Technology Development 300803.SZ | $5.91B | -23% | +12% | 0% | 174.6× | 46.9% |
| Shanghai Great Wisdom 601519.SS | $2.49B | -18% | +6% | -8% | n/a | n/a |
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 | 300033.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.0% | -4.4% | 6th highest of 21 |
| 6-month return | -13.7% | +15.5% | 5th lowest of 19 |
| Distance from 52-week high | -34.8% | -28.5% | 8th lowest of 21 |
| Revenue growth (TTM) | +47.9% | +20.0% | 5th highest of 21 |
| Operating margin | 55.6% | 10.2% | 2nd highest of 21 |
| Forward P/E | 32.7× | 25.6× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 37.1% | 22.0% | 4th most demanding of 17 |
| Growth delivered (Del g) | +16.3% | +24.0% | 6th lowest of 17 |
| Hurdle (Req g minus delivered) | +20.9 pp | -6.1 pp | most demanding of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hithink RoyalFlush Information Network 300033.SZ | China | $22.9B | -14% | +48% | 56% | 32.7× | 37.1% | +16.3% |
| Unity Software U | United States | $22.7B | +83% | +14% | -14% | 49.4× | 33.5% | +19.1% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 48.5× | n/a | n/a |
| PTC PTC | United States | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% | +8.6% |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 44.7× | 27.9% | +33.1% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | n/a | n/a | n/a |
| Toast TOST | United States | $20.1B | +38% | +22% | 7% | 20.9× | 28.6% | +49.5% |
| Cerebras Systems CBRS | United States | $20.1B | n/a | +91% | -81% | n/a | n/a | n/a |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 14.7× | 5.8% | +12.9% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | n/a | n/a | n/a |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 17.8× | 4.3% | +24.6% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
| SS&C Technologies SSNC | United States | $18.2B | +13% | +9% | 24% | 10.2× | 6.9% | +6.1% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Gen Digital GEN | United States | $17.7B | +32% | +17% | 43% | 9.6× | 1.8% | +14.4% |
| F5, Inc. FFIV | United States | $17.7B | -12% | +11% | 24% | 17.1× | 9.7% | +5.6% |
| Circle Internet CRCL | United States | $17.3B | -40% | +26% | 13% | 68.1× | 23.2% | +52.7% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% | +23.5% |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 40.5× | 20.7% | +37.9% |
| Beijing Kingsoft Office Software 688111.SS | China | $16.1B | -8% | +20% | 22% | 35.6× | 32.7% | +21.3% |
| Evolution EVO.ST | Sweden | $15.8B | +33% | -3% | 57% | 14.4× | -0.3% | +31.2% |