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Chinese online content platform ('What's Worth Buying') that publishes product reviews and deal recommendations, earning affiliate/advertising fees.
Chinese online content platform ('What's Worth Buying') that publishes product reviews and deal recommendations, earning affiliate/advertising fees.
Earns commissions when users click through its recommendations and buy on partner shops, and fees from brands that pay to promote products to its users, so revenue follows traffic and shopper conversion. Because the shopping happens on other platforms, their commission rates matter.
In one line: A Chinese hybrid of The Wirecutter and RetailMeNot.
Moat: narrow (network effects, brand, data). Large user community and content library create a trusted deal-discovery brand, though platforms could disintermediate it.
Headquarters: Beijing, China · Employees: 1,323
Size Beijing Zhidemai Technology (300785.SZ) is a China Consumer Discretionary company (Catalog/Specialty Distribution) with a market value of $963M, the 2366th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥32.28 on 6 Nov 2026.
Performance Over six months the shares fell 34.5%, against -17.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 0.1% over the last twelve months (peer median +1.5%); the operating margin is 0.8% (peer median 8.3%).
Valuation It trades at 70.2× forward earnings against a peer median of 19.5× (most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 53% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +45 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 7.7 points below its cost of capital (10.8% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.31B | CN¥1.28B | CN¥1.51B | CN¥1.45B | CN¥1.22B |
| Revenue growth | — | -15% | +5% | +18% | — |
| Gross profit | CN¥596M | CN¥603M | CN¥667M | CN¥647M | CN¥611M |
| EBITDA | n/a | CN¥132M | CN¥118M | CN¥127M | CN¥158M |
| Net income | CN¥20.6M | CN¥86.5M | CN¥75.2M | CN¥74.8M | CN¥84.9M |
| Free cash flow | CN¥28.9M | CN¥25.8M | CN¥27.0M | CN¥63.4M | -CN¥177M |
| Capital expenditure | CN¥116M | CN¥128M | CN¥93.7M | CN¥50.7M | CN¥258M |
| Total debt | CN¥243M | CN¥234M | CN¥171M | CN¥129M | CN¥222M |
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 |
|---|---|---|---|---|---|---|
| Beijing Zhidemai Technology 300785.SZ | $963M | -35% | 0% | 1% | 70.2× | 52.5% |
| Bilibili Inc. Sponsored ADR BILI | $5.72B | -34% | +10% | 4% | 13.7× | -2.5% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 300785.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | -3.4% | 11th highest of 21 |
| 6-month return | -34.5% | -17.5% | 5th lowest of 20 |
| Distance from 52-week high | -61.5% | -40.9% | 3rd lowest of 21 |
| Revenue growth (TTM) | -0.1% | +1.5% | 10th lowest of 21 |
| Operating margin | 0.8% | 8.3% | 3rd lowest of 21 |
| Forward P/E | 70.2× | 19.5× | most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 52.5% | 0.5% | most demanding of 15 |
| Growth delivered (Del g) | +7.3% | +0.3% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | +45.3 pp | +5.8 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | -7.7 pp | +1.8 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Zhidemai Technology 300785.SZ | China | $963M | -35% | 0% | 1% | 70.2× | 52.5% | +7.3% |
| Shanghai Puyuan Chemical Materials 603196.SS | China | $964M | -46% | +78% | 12% | 19.9× | 16.2% | -0.2% |
| Beijing Kingee Culture Development 002721.SZ | China | $965M | -21% | +45% | 15% | n/a | 26.5% | -25.9% |
| Huakai Yibai Technology 300592.SZ | China | $966M | +27% | -11% | 7% | 15.7× | 3.4% | +132.3% |
| Ningbo TIP Rubber Technology 605255.SS | China | $959M | -53% | -9% | 5% | n/a | 47.5% | +0.9% |
| Xiamen King Long Motor 600686.SS | China | $967M | -42% | -3% | 2% | 9.1× | -1.1% | +12.0% |
| Ningbo Hicon Industry Technology 001237.SZ | China | $969M | n/a | -10% | 14% | n/a | 9.9% | -10.3% |
| Guizhou Tyre 000589.SZ | China | $974M | -18% | +8% | 8% | 8.7× | n/a | n/a |
| JOEONE 601566.SS | China | $975M | +4% | +1% | 6% | 52.6× | -2.9% | +2.1% |
| Shenzhen Fuanna Bedding & Furnishing 002327.SZ | China | $951M | -26% | -5% | 12% | 14.0× | -1.3% | -2.1% |
| Zhonghong Pulin Medical Products 300981.SZ | China | $990M | +5% | +11% | 9% | n/a | -1.7% | -13.1% |
| Whirlpool China 600983.SS | China | $936M | -13% | -2% | 11% | 14.0× | -7.2% | -1.9% |
| Huangshan Tourism Development 600054.SS | China | $926M | -13% | +2% | 20% | 23.0× | -9.4% | +23.2% |
| Fujian Longxi Bearing (Group) 600592.SS | China | $926M | -19% | -2% | 11% | 28.9× | 14.0% | +3.0% |
| Guilin Fuda 603166.SS | China | $1.01B | -25% | +9% | 15% | 17.9× | n/a | n/a |
| Hefei I-TEK OptoElectronics 688610.SS | China | $1.01B | +18% | +72% | 14% | 45.9× | n/a | n/a |
| Hunan Tyen Machinery 600698.SS | China | $918M | -5% | +17% | -7% | n/a | n/a | n/a |
| XGimi Technology 688696.SS | China | $1.01B | +7% | +4% | 2% | 27.9× | n/a | n/a |
| HyUnion 002537.SZ | China | $1.01B | -21% | -6% | 4% | n/a | -1.7% | +1.7% |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 19.5× | 2.1% | -23.6% |
| Zhejiang Hangmin 600987.SS | China | $1.02B | -6% | -23% | 8% | n/a | n/a | n/a |