Loading…
Major Chinese data-center operator providing colocation, hosting and cloud-infrastructure services to enterprises.
Major Chinese data-center operator providing colocation, hosting and cloud-infrastructure services to enterprises.
Rents out data-centre space, power and network capacity under recurring contracts, with hosting and managed cloud services layered on top, so income rises with the share of racks let out and the services attached to each. Power supply and facility capacity set the limit on growth.
In one line: A China-focused Digital Realty/Equinix.
Moat: narrow (installed base, switching costs). Once hosted, enterprise customers face high switching costs to move data-center infrastructure.
Headquarters: Beijing, China · Employees: 270
Size Capitalonline Data Service (300846.SZ) is a China Information Technology company (Data Processing Services) with a market value of $1.28B, the 1870th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.90 on 6 Nov 2026.
Performance Over six months the shares fell 36.8%, against -26.5% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 0.2% over the last twelve months (peer median +20.7%); the operating margin is -6.9% (peer median 3.7%).
Valuation It trades at 7.0× enterprise value to sales against a peer median of 3.8× (6th most expensive of 20).
Capital Return on invested capital runs 6.2 points below its cost of capital (12.7% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.27B | CN¥1.24B | CN¥1.40B | CN¥1.24B | CN¥1.22B |
| Revenue growth | — | -11% | +12% | +2% | — |
| Gross profit | CN¥410M | CN¥157M | CN¥107M | CN¥47.4M | CN¥163M |
| EBITDA | n/a | CN¥132M | CN¥124M | CN¥40.0M | CN¥81.0M |
| Net income | -CN¥61.8M | -CN¥170M | -CN¥303M | -CN¥340M | -CN¥189M |
| Free cash flow | -CN¥115M | -CN¥203M | -CN¥21.0M | CN¥56.4M | -CN¥239M |
| Capital expenditure | CN¥425M | CN¥384M | CN¥264M | CN¥114M | CN¥461M |
| Total debt | CN¥678M | CN¥736M | CN¥519M | CN¥719M | CN¥666M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Capitalonline Data Service 300846.SZ | $1.28B | -37% | 0% | -7% | 7.0× | n/a |
| Beijing Sinnet Technology 300383.SZ | $2.70B | -37% | -2% | -11% | 3.3× | 46.5% |
| GDS Holdings Ltd. Sponsored ADR GDS | $4.46B | -49% | +12% | 17% | 5.6× | n/a |
| VNET Group, Inc. Sponsored ADR VNET | $1.00B | -64% | +23% | 7% | 3.5× | 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 | 300846.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | -14.5% | 8th highest of 21 |
| 6-month return | -36.8% | -26.5% | 9th lowest of 21 |
| Distance from 52-week high | -56.7% | -48.2% | 10th lowest of 21 |
| Revenue growth (TTM) | -0.2% | +20.7% | 7th lowest of 21 |
| Operating margin | -6.9% | 3.7% | 8th lowest of 21 |
| EV / Sales | 7.0× | 3.8× | 6th most expensive of 20 |
| ROIC minus cost of capital | -6.2 pp | -4.8 pp | 9th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Capitalonline Data Service 300846.SZ | China | $1.28B | -37% | 0% | -7% | 7.0× | n/a | n/a |
| Innodata INOD | United States | $1.27B | -56% | +39% | 17% | 3.2× | 15.9% | +34.0% |
| ASrock Rack 7711.TW | Taiwan | $1.23B | +35% | +183% | 10% | 1.2× | 7.5% | +42.1% |
| Rendong 002647.SZ | China | $1.20B | -43% | +6% | 6% | 3.9× | 42.3% | -17.2% |
| Keel Infrastructure KEEL | United States | $1.15B | -53% | -23% | -121% | 7.8× | n/a | n/a |
| HawkEye 360 HAWK | United States | $1.45B | -55% | +88% | -8% | 5.7× | n/a | n/a |
| Suncorporation 6736.T | Japan | $1.49B | +22% | -11% | 1% | 23.8× | n/a | n/a |
| JMDC 4483.T | Japan | $1.52B | +10% | +19% | 20% | 5.0× | 19.7% | +24.6% |
| Liberty Capital GLIBA | United States | $1.06B | -2% | +13% | 13% | 1.8× | 0.8% | +113.1% |
| ChronoScale CHRN | United States | $1.57B | -31% | +190% | -68% | 32.6× | n/a | n/a |
| Bitdeer Technologies BTDR | United States | $1.63B | -55% | +128% | -30% | 3.8× | n/a | n/a |
| VNET Group, Inc. Sponsored ADR VNET | United States | $1.00B | -64% | +23% | 7% | 3.5× | n/a | n/a |
| BLS International Services BLS.NS | India | $973M | -23% | +29% | 23% | 2.5× | 9.7% | +44.4% |
| Beijing Topnew Info & Tech 300895.SZ | China | $938M | -27% | +1% | -25% | 23.4× | 54.6% | -3.4% |
| Shenzhen Xunce Technology 3317.HK | Hong Kong | $1.93B | -79% | +287% | -3% | 6.4× | n/a | n/a |
| Ucap Cloud Information Technology 688228.SS | China | $786M | -26% | -39% | -14% | 13.1× | 39.9% | +6.8% |
| SharonAI SHAZ | United States | $781M | -59% | +257% | -894% | n/a | n/a | n/a |
| Yext YEXT | United States | $749M | +88% | -1% | 10% | 2.0× | 9.6% | +4.7% |
| Pason Systems PSI.TO | Canada | $742M | -10% | -2% | 18% | 2.4× | 1.5% | +21.8% |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 0.4× | 3.2% | -6.5% |
| SAKURA Internet 3778.T | Japan | $688M | -13% | +26% | 8% | 3.0× | n/a | n/a |