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Maker of embedded smart operating-system software and platforms for smartphones, smart cockpits and IoT devices.
Maker of embedded smart operating-system software and platforms for smartphones, smart cockpits and IoT devices.
Earns development fees and licences by building the system software, such as Android-based operating systems and cockpit interfaces, that phone, car and device makers need on top of chipmakers' platforms. Work is customised by project, so ties to chip suppliers and long qualification periods with carmakers matter. Automotive software is the growth area.
In one line: A smaller, embedded-OS Android specialist.
Moat: narrow (process know-how, customer qualification). Deep Android/embedded-OS engineering expertise and long OEM qualification relationships.
Headquarters: Beijing, China · Founded: 2006 · Employees: 18,708
Size Thunder Software Technology (300496.SZ) is a China Information Technology company (Packaged Software) with a market value of $3.83B, the 672nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥55.30 on 6 Nov 2026.
Performance Over six months the shares fell 13.5%, against +3.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 40.4% over the last twelve months (peer median +24.0%); the operating margin is 5.7% (peer median 9.8%).
Valuation It trades at 40.0× forward earnings against a peer median of 23.1× (4th most expensive of 17).
Capital Return on invested capital runs 5.4 points below its cost of capital (13.1% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.60B | CN¥7.76B | CN¥5.37B | CN¥5.23B | CN¥5.44B |
| Revenue growth | — | +45% | +3% | -4% | — |
| Gross profit | CN¥3.12B | CN¥2.33B | CN¥1.73B | CN¥1.80B | CN¥2.01B |
| EBITDA | n/a | CN¥900M | CN¥526M | CN¥546M | CN¥868M |
| Net income | CN¥557M | CN¥450M | CN¥407M | CN¥466M | CN¥769M |
| Free cash flow | -CN¥1.03B | -CN¥553M | -CN¥237M | CN¥336M | -CN¥3.30M |
| Capital expenditure | CN¥1.39B | CN¥1.34B | CN¥1.04B | CN¥446M | CN¥516M |
| Total debt | CN¥1.82B | CN¥362M | CN¥136M | CN¥134M | CN¥134M |
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 |
|---|---|---|---|---|---|---|
| Thunder Software Technology 300496.SZ | $3.83B | -13% | +40% | 6% | 40.0× | n/a |
| Huizhou Desay SV Automotive 002920.SZ | $7.12B | -23% | +12% | 7% | 17.5× | n/a |
| Neusoft 600718.SS | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% |
| Lumine LMN.V | $5.14B | +38% | +15% | 21% | 18.1× | 15.6% |
| ECARX ECX | n/a | -30% | n/a | n/a | n/a | n/a |
| Horizon Robotics 9660.HK | $7.61B | -48% | +46% | -101% | 159.5× | 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 | 300496.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | +3.5% | 10th highest of 21 |
| 6-month return | -13.5% | +3.8% | 7th lowest of 20 |
| Distance from 52-week high | -38.2% | -38.6% | 11th highest of 21 |
| Revenue growth (TTM) | +40.4% | +24.0% | 4th highest of 21 |
| Operating margin | 5.7% | 9.8% | 10th lowest of 20 |
| Forward P/E | 40.0× | 23.1× | 4th most expensive of 17 |
| ROIC minus cost of capital | -5.4 pp | -3.7 pp | 7th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Thunder Software Technology 300496.SZ | China | $3.83B | -13% | +40% | 6% | 40.0× | n/a | n/a |
| Life360 LIF | United States | $3.86B | +8% | +34% | 1% | 33.9× | n/a | n/a |
| Core Scientific CORZ | United States | $3.78B | -49% | +26% | -31% | n/a | n/a | n/a |
| Geovis Technology 688568.SS | China | $3.78B | -45% | -64% | -70% | n/a | n/a | n/a |
| G-Bits Network Technology (Xiamen) 603444.SS | China | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% | +17.7% |
| Koei Tecmo 3635.T | Japan | $3.74B | +15% | +19% | 43% | 15.1× | -5.7% | +7.9% |
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% | +26.4% |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 14.4× | 2.4% | +60.0% |
| Glory View Technology 301396.SZ | China | $3.72B | -49% | +53% | n/a | 25.3× | n/a | n/a |
| monday.com MNDY | United States | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% | +50.2% |
| Appian APPN | United States | $3.70B | +135% | +21% | 4% | 41.6× | 42.9% | +19.0% |
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% | +20.6% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| AvePoint AVPT | United States | $3.50B | +45% | +25% | 10% | 37.6× | 31.6% | +22.6% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |