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Leading Chinese hospital information systems (HIS) provider, selling software that runs hospital clinical and billing operations.
Leading Chinese hospital information systems (HIS) provider, selling software that runs hospital clinical and billing operations.
Sells hospital software mostly through projects, with licence and installation fees up front and maintenance and upgrade fees afterward. Most hospitals are state-run, so purchasing follows government health-digitalization policy and budgets. The same systems link hospitals to insurance reimbursement platforms.
In one line: A Chinese Cerner/Epic for hospital software.
Moat: narrow (switching costs, installed base). Deeply embedded hospital clinical/billing software is costly and risky to replace.
Headquarters: Shanghai, China · Employees: 5,570
Size Winning Health Technology (300253.SZ) is a China Information Technology company (Internet Software/Services) with a market value of $2.31B, the 1105th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.03 on 6 Nov 2026.
Performance Over six months the shares fell 18.6%, against +0.7% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 6.3% over the last twelve months (peer median +6.5%); the operating margin is -19.6% (peer median 10.5%).
Valuation It trades at 351.5× forward earnings against a peer median of 27.5× (most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +20 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 12.4 points below its cost of capital (8.5% WACC).
Next results Next results expected around 21 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.29B | CN¥2.10B | CN¥2.76B | CN¥3.14B | CN¥3.08B |
| Revenue growth | — | -24% | -12% | +2% | — |
| Gross profit | CN¥943M | CN¥652M | CN¥1.10B | CN¥1.36B | CN¥1.30B |
| EBITDA | n/a | -CN¥62.6M | CN¥326M | CN¥453M | CN¥191M |
| Net income | -CN¥373M | -CN¥374M | CN¥87.9M | CN¥358M | CN¥109M |
| Free cash flow | CN¥412M | CN¥336M | CN¥102M | -CN¥121M | -CN¥215M |
| Capital expenditure | CN¥162M | CN¥220M | CN¥306M | CN¥313M | CN¥324M |
| Total debt | CN¥1.20B | CN¥1.24B | CN¥1.13B | CN¥1.11B | CN¥1.04B |
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 |
|---|---|---|---|---|---|---|
| Winning Health Technology 300253.SZ | $2.31B | -19% | +6% | -20% | 351.5× | 18.9% |
| Wonders Information 300168.SZ | $1.05B | -16% | +3% | -17% | 487.0× | 51.6% |
| Neusoft 600718.SS | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% |
| Motic (Xiamen) Electric 300341.SZ | $957M | -20% | +19% | 12% | n/a | 17.7% |
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 | 300253.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.7% | +0.7% | 10th highest of 21 |
| 6-month return | -18.6% | +0.7% | 6th lowest of 21 |
| Distance from 52-week high | -56.3% | -28.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +6.3% | +6.5% | 11th highest of 21 |
| Operating margin | -19.6% | 10.5% | lowest of 21 |
| Forward P/E | 351.5× | 27.5× | most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 18.9% | 17.8% | 7th most demanding of 14 |
| Growth delivered (Del g) | -1.4% | +9.3% | 3rd lowest of 14 |
| Hurdle (Req g minus delivered) | +20.3 pp | +8.9 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | -12.4 pp | -1.3 pp | 3rd lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Winning Health Technology 300253.SZ | China | $2.31B | -19% | +6% | -20% | 351.5× | 18.9% | -1.4% |
| Shanghai Great Wisdom 601519.SS | China | $2.49B | -18% | +6% | -8% | n/a | n/a | n/a |
| Youdao, Inc. Sponsored ADR DAO | United States | $2.50B | +59% | +10% | 4% | 59.4× | 33.6% | +17.6% |
| Aditya Birla Sun Life Amc ABSLAMC.NS | India | $2.68B | -19% | +4% | 60% | 23.9× | n/a | n/a |
| People.cn 603000.SS | China | $2.69B | -15% | 0% | 12% | 77.2× | 28.6% | -0.4% |
| XinhuaNet 603888.SS | China | $1.89B | -7% | -1% | 8% | n/a | 22.6% | +9.3% |
| TBO Tek TBOTEK.NS | India | $1.80B | +24% | +74% | 11% | 41.6× | n/a | n/a |
| Ziff Davis ZD | United States | $1.70B | +21% | -8% | 10% | 8.9× | -10.6% | +4.6% |
| People PPLI | United States | $3.16B | -4% | -29% | 2% | 38.9× | 36.5% | -2.8% |
| Weibo 9898.HK | Hong Kong | $1.58B | -24% | +2% | 25% | 5.2× | n/a | n/a |
| Crisil CRISIL.NS | India | $3.40B | +6% | +24% | 26% | 35.0× | n/a | n/a |
| Seek SEK.AX | Australia | $3.59B | +8% | +17% | 24% | 25.8× | 17.7% | +11.1% |
| Mony MONY.L | United Kingdom | $1.42B | +21% | +2% | 26% | 11.1× | -0.7% | +5.3% |
| SMG Swiss Marketplace SMG.SW | Switzerland | $3.77B | +7% | +13% | 35% | 23.9× | 5.8% | +12.4% |
| CarTrade Tech CARTRADE.NS | India | $1.39B | +40% | +16% | 30% | 47.7× | 34.5% | +25.6% |
| Trustpilot TRST.L | United Kingdom | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% | +20.0% |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| WEBTOON Entertainment WBTN | United States | $1.31B | -27% | 0% | -3% | n/a | n/a | n/a |
| AUTO1 AG1.DE | Germany | $4.34B | -14% | +21% | 1% | 29.2× | n/a | n/a |
| Huawen Media 000793.SZ | China | $1.19B | -34% | 0% | -14% | n/a | 17.8% | -34.6% |
| Baltic Classifieds BCG.L | United Kingdom | $1.14B | -99% | +7% | 68% | 0.2× | 15.2% | +15.9% |