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Chinese internet-cafe management-software provider that also operates PC gaming and content platforms.
Chinese internet-cafe management-software provider that also operates PC gaming and content platforms.
Cafes pay for its management and billing software, and the same terminals give it a channel to sell games, advertising and other services to players, so the size of the cafe network and how much players spend matter.
Moat: narrow (installed base, network effects). Large installed base of cafe terminals running its management/billing software.
Headquarters: Hangzhou, China · Employees: 1,183
Size Hangzhou Shunwang Technology (300113.SZ) is a China Information Technology company (Packaged Software) with a market value of $1.70B, the 1467th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.07 on 6 Nov 2026.
Performance Over six months the shares fell 32.4%, against -4.7% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue fell 36.4% over the last twelve months (peer median +19.4%); the operating margin is 25.7% (peer median 9.2%).
Valuation It trades at 27.1× forward earnings against a peer median of 30.3× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +15 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 1.3 points above its cost of capital (10.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.24B | CN¥1.69B | CN¥1.79B | CN¥1.39B | CN¥1.09B |
| Revenue growth | — | -6% | +28% | +28% | — |
| Gross profit | CN¥828M | CN¥758M | CN¥665M | CN¥623M | CN¥483M |
| EBITDA | n/a | CN¥431M | CN¥322M | CN¥233M | CN¥100M |
| Net income | CN¥363M | CN¥418M | CN¥252M | CN¥170M | -CN¥406M |
| Free cash flow | CN¥249M | CN¥347M | CN¥364M | CN¥223M | CN¥337,180 |
| Capital expenditure | CN¥143M | CN¥44.2M | CN¥31.5M | CN¥77.0M | CN¥90.2M |
| Total debt | CN¥99.8M | CN¥76.4M | CN¥92.9M | CN¥45.6M | CN¥77.8M |
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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 | 300113.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.3% | +5.2% | 6th highest of 21 |
| 6-month return | -32.4% | -4.7% | 3rd lowest of 20 |
| Distance from 52-week high | -46.5% | -26.6% | 4th lowest of 21 |
| Revenue growth (TTM) | -36.4% | +19.4% | lowest of 21 |
| Operating margin | 25.7% | 9.2% | 5th highest of 21 |
| Forward P/E | 27.1× | 30.3× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 26.2% | 12.7% | 4th most demanding of 14 |
| Growth delivered (Del g) | +11.0% | +20.2% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | +15.1 pp | -4.2 pp | 4th most demanding of 13 |
| ROIC minus cost of capital | +1.3 pp | +2.3 pp | 7th lowest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |