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Employees: 824
Size Donghua Testing Technology (300354.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $574M, the 3531st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥27.65 on 6 Nov 2026.
Performance Over six months the shares fell 22.6%, against -25.5% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 7.1% over the last twelve months (peer median +8.5%); the operating margin is 17.5% (peer median 2.8%).
Valuation It trades at 35.0× forward earnings against a peer median of 22.3× (5th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is +2 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 1.5 points above its cost of capital (8.7% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥493M | CN¥526M | CN¥494M | CN¥375M | CN¥363M |
| Revenue growth | — | +6% | +32% | +3% | — |
| Gross profit | CN¥315M | CN¥337M | CN¥318M | CN¥237M | CN¥236M |
| EBITDA | n/a | CN¥171M | CN¥155M | CN¥106M | CN¥140M |
| Net income | CN¥90.0M | CN¥137M | CN¥122M | CN¥87.7M | CN¥122M |
| Free cash flow | CN¥157M | CN¥175M | CN¥14.8M | -CN¥22.5M | CN¥23.9M |
| Capital expenditure | CN¥12.5M | CN¥12.9M | CN¥23.7M | CN¥26.8M | CN¥8.05M |
| Total debt | CN¥115,915 | CN¥1.49M | CN¥3.52M | CN¥3.70M | CN¥847,975 |
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| Measure | 300354.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.8% | -9.8% | 3rd highest of 21 |
| 6-month return | -22.6% | -25.5% | 9th highest of 21 |
| Distance from 52-week high | -50.7% | -46.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -7.1% | +8.5% | 6th lowest of 21 |
| Operating margin | 17.5% | 2.8% | 3rd highest of 21 |
| Forward P/E | 35.0× | 22.3× | 5th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 22.6% | 20.5% | 7th least demanding of 13 |
| Growth delivered (Del g) | +20.9% | +5.4% | highest of 13 |
| Hurdle (Req g minus delivered) | +1.7 pp | +11.2 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +1.5 pp | -4.3 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Donghua Testing Technology 300354.SZ | China | $574M | -23% | -7% | 18% | 35.0× | 22.6% | +20.9% |
| Shanghai Aohua Photoelectricity Endoscope 688212.SS | China | $572M | -19% | +21% | -4% | 647.1× | n/a | n/a |
| Hebei Sailhero Environmental Protection High-Tech 300137.SZ | China | $569M | -56% | -17% | -13% | n/a | n/a | n/a |
| Shanghai W-Ibeda High Tech.Group 688071.SS | China | $586M | +39% | +10% | -6% | 87.0× | 25.1% | +11.0% |
| NanJing GOVA Technology 688539.SS | China | $589M | -43% | -9% | -18% | 49.1× | n/a | n/a |
| YC Corporation 232140.KS | South Korea | $558M | -57% | +26% | 11% | 22.7× | 17.9% | +9.7% |
| Guangzhou KingTeller Technology 002177.SZ | China | $590M | -31% | -9% | -17% | n/a | n/a | n/a |
| Adlink Technology 6166.TW | Taiwan | $593M | +14% | +27% | 10% | 15.3× | 5.0% | +4.1% |
| Rongcheer Industrial Technology (Suzhou) 301360.SZ | China | $598M | -13% | +101% | 12% | n/a | 28.4% | +11.7% |
| Shenzhen Liande Automatic Equipment 300545.SZ | China | $600M | -37% | -18% | 7% | n/a | n/a | n/a |
| Ningbo Techmation 603015.SS | China | $601M | -16% | +5% | 0% | n/a | 50.6% | +2.0% |
| HIWIN Mikrosystem 4576.TW | Taiwan | $605M | -29% | +34% | 15% | 26.5× | 26.1% | +2.1% |
| Beijing ConST Instruments Technology 300445.SZ | China | $536M | -23% | +7% | 19% | 21.8× | 9.4% | +15.5% |
| Phenix Optics 600071.SS | China | $614M | -25% | +7% | 2% | n/a | 23.0% | +4.7% |
| Shanghai Holystar Information Technology 688330.SS | China | $615M | -28% | -5% | 21% | 13.7× | -2.1% | -6.5% |
| IDEC 6652.T | Japan | $534M | -11% | +17% | 10% | 10.1× | 0.7% | +6.2% |
| Unusual Machines UMAC | United States | $618M | -11% | +314% | -94% | n/a | n/a | n/a |
| Uroica Precision Information Engineering 300099.SZ | China | $618M | -39% | -16% | 15% | 20.7× | n/a | n/a |
| Goldcard Smart 300349.SZ | China | $531M | -33% | -5% | 4% | 18.0× | 2.9% | +10.8% |
| Shenzhen Vapel Power Supply Technology 301516.SZ | China | $622M | -26% | +32% | -5% | n/a | n/a | n/a |
| Hangzhou Shenhao Technology 300853.SZ | China | $623M | -5% | +125% | -21% | 403.6× | 53.7% | -12.4% |