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Chinese network-security vendor providing firewalls, DDoS protection and other cybersecurity hardware/software.
Chinese network-security vendor providing firewalls, DDoS protection and other cybersecurity hardware/software.
Sells security hardware and the software that runs on it, with orders from telecom carriers, government and finance tending to cluster around annual budget cycles.
In one line: A smaller Chinese Fortinet/Palo Alto Networks.
Moat: narrow (customer qualification, IP / patents). Security-product certification and government/enterprise procurement relationships.
Headquarters: Hangzhou, China · Employees: 1,577
Size Hangzhou DPTech Technology (300768.SZ) is a China Information Technology company (Packaged Software) with a market value of $1.35B, the 1798th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.97 on 6 Nov 2026.
Performance Over six months the shares fell 18.9%, against -5.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 19 in its peer set.
Growth Revenue fell 3.3% over the last twelve months (peer median +9.4%); the operating margin is 4.6% (peer median -0.7%).
Valuation It trades at 42.3× forward earnings against a peer median of 16.9× (4th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 35% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +28 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 (8.3% WACC).
Next results Next results expected around 20 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.17B | CN¥1.21B | CN¥1.14B | CN¥1.03B | CN¥881M |
| Revenue growth | — | +6% | +11% | +17% | — |
| Gross profit | CN¥745M | CN¥710M | CN¥719M | CN¥659M | CN¥558M |
| EBITDA | n/a | CN¥96.1M | CN¥69.5M | CN¥57.1M | CN¥49.1M |
| Net income | CN¥210M | CN¥181M | CN¥161M | CN¥127M | CN¥150M |
| Free cash flow | CN¥95.1M | CN¥71.2M | CN¥248M | CN¥77.7M | CN¥75.7M |
| Capital expenditure | CN¥99.8M | CN¥81.6M | CN¥80.3M | CN¥48.2M | CN¥105M |
| Total debt | CN¥12.6M | CN¥19.8M | CN¥21.1M | CN¥30.4M | CN¥12.9M |
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 |
|---|---|---|---|---|---|---|
| Hangzhou DPTech Technology 300768.SZ | $1.35B | -19% | -3% | 5% | 42.3× | 34.9% |
| Venustech 002439.SZ | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% |
| Sangfor Technologies 300454.SZ | $7.84B | +5% | +21% | 2% | 71.4× | 46.1% |
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 | 300768.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | +0.3% | 8th lowest of 21 |
| 6-month return | -18.9% | -5.6% | 8th lowest of 19 |
| Distance from 52-week high | -45.4% | -33.9% | 8th lowest of 21 |
| Revenue growth (TTM) | -3.3% | +9.4% | 7th lowest of 21 |
| Operating margin | 4.6% | -0.7% | 9th highest of 21 |
| Forward P/E | 42.3× | 16.9× | 4th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 34.9% | 13.4% | 3rd most demanding of 13 |
| Growth delivered (Del g) | +6.5% | +17.3% | 4th lowest of 13 |
| Hurdle (Req g minus delivered) | +28.4 pp | -8.9 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | +1.3 pp | -12.5 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou DPTech Technology 300768.SZ | China | $1.35B | -19% | -3% | 5% | 42.3× | 34.9% | +6.5% |
| NCR Voyix VYX | United States | $1.35B | +17% | -5% | 7% | 9.9× | n/a | n/a |
| Transwarp Technology Shanghai 688031.SS | China | $1.35B | -45% | +27% | -49% | n/a | n/a | n/a |
| Mech-Mind Robotics Technologies 9615.HK | Hong Kong | $1.34B | n/a | +45% | -41% | n/a | n/a | n/a |
| Ibotta IBTA | United States | $1.37B | +19% | +2% | -3% | n/a | -1.1% | +17.6% |
| WeRide 0800.HK | Hong Kong | $1.33B | -47% | +109% | -221% | n/a | n/a | n/a |
| SHIFT UP 462870.KS | South Korea | $1.33B | -4% | -12% | 56% | 13.3× | -12.9% | +59.7% |
| Zensar Technologies ZENSARTECH.NS | India | $1.37B | +9% | +9% | 14% | 16.9× | 13.4% | +8.5% |
| Amagi Media Labs AMAGI.NS | India | $1.32B | +30% | +30% | 3% | 60.2× | n/a | n/a |
| NSD 9759.T | Japan | $1.32B | +12% | +10% | 16% | 16.6× | -10.9% | +12.2% |
| Lightspeed Commerce LSPD.TO | Canada | $1.38B | +9% | +11% | -9% | 14.4× | 13.5% | +42.0% |
| Wondershare Technology 300624.SZ | China | $1.38B | -25% | -8% | -12% | n/a | n/a | n/a |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 11.4× | -6.0% | -7.4% |
| Opera Limited Sponsored ADR OPRA | United States | $1.31B | -21% | +23% | 16% | 11.9× | 4.5% | +30.1% |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% | +6.0% |
| Bandwidth BAND | United States | $1.31B | -19% | +15% | -1% | 19.6× | 19.3% | +17.0% |
| Richinfo Technology 300634.SZ | China | $1.30B | -15% | -11% | 10% | 31.2× | 20.8% | +19.9% |
| CHAPTERS CHG.DE | Germany | $1.30B | +48% | +63% | -21% | 294.5× | 43.9% | +178.6% |
| Genimous Technology 000676.SZ | China | $1.30B | -7% | +3% | 6% | n/a | 14.1% | -17.5% |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 177.0× | n/a | n/a |
| Shenzhen HQVT Technology 1392.HK | Hong Kong | $1.28B | n/a | +28% | 5% | n/a | n/a | n/a |