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Tsinghua-affiliated conglomerate spanning smart cards, security/nuclear detection equipment, environmental and IT businesses.
Tsinghua-affiliated conglomerate spanning smart cards, security/nuclear detection equipment, environmental and IT businesses.
Its Nuctech subsidiary sells security scanners, such as cargo and baggage inspection systems, to customs, airports and police, mostly through government tenders, so large lumpy orders drive revenue. The other divisions serve different customers on separate cycles; the group is a loose conglomerate.
Moat: none (brand). Diversified conglomerate with no single dominant franchise; past governance/financial issues have weighed on it.
Headquarters: Beijing, China · Employees: 10,996
Size Tsinghua Tongfang (600100.SS) is a China Information Technology company (Packaged Software) with a market value of $3.15B, the 822nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.26 on 6 Nov 2026.
Performance Over six months the shares fell 21.6%, against +0.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 10.6% over the last twelve months (peer median +14.3%); the operating margin is -1.8% (peer median 7.9%).
Valuation It trades at 2.3× enterprise value to sales against a peer median of 4.8× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +40 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 5.3 points below its cost of capital (6.3% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥14.2B | CN¥15.0B | CN¥16.8B | CN¥28.8B | CN¥23.7B |
| Revenue growth | — | -10% | -42% | +21% | — |
| Gross profit | CN¥4.44B | CN¥3.59B | CN¥3.70B | CN¥4.67B | CN¥4.44B |
| EBITDA | n/a | CN¥774M | CN¥518M | CN¥725M | CN¥808M |
| Net income | CN¥112M | CN¥495M | CN¥482M | -CN¥765M | -CN¥772M |
| Free cash flow | CN¥868M | CN¥1.00B | CN¥120M | -CN¥495M | -CN¥562M |
| Capital expenditure | CN¥493M | CN¥503M | CN¥632M | CN¥706M | CN¥795M |
| Total debt | CN¥13.8B | CN¥14.0B | CN¥15.2B | CN¥17.2B | CN¥18.9B |
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 |
|---|---|---|---|---|---|---|
| Tsinghua Tongfang 600100.SS | $3.15B | -22% | -11% | -2% | 2.3× | 30.2% |
| OSI Systems OSIS | $3.09B | -15% | +3% | 13% | 2.1× | 9.4% |
| Smiths SMIN.L | $9.45B | +5% | -34% | 16% | 2.7× | 15.2% |
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 | 600100.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | +3.1% | 5th lowest of 21 |
| 6-month return | -21.6% | +0.7% | 7th lowest of 20 |
| Distance from 52-week high | -39.0% | -37.7% | 10th lowest of 21 |
| Revenue growth (TTM) | -10.6% | +14.3% | lowest of 21 |
| Operating margin | -1.8% | 7.9% | 7th lowest of 21 |
| EV / Sales | 2.3× | 4.8× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 30.2% | 13.9% | 2nd most demanding of 17 |
| Growth delivered (Del g) | -10.3% | +18.3% | lowest of 17 |
| Hurdle (Req g minus delivered) | +40.4 pp | -2.3 pp | most demanding of 17 |
| ROIC minus cost of capital | -5.3 pp | +2.5 pp | 9th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tsinghua Tongfang 600100.SS | China | $3.15B | -22% | -11% | -2% | 2.3× | 30.2% | -10.3% |
| Cellebrite DI CLBT | United States | $3.13B | -2% | +18% | 11% | 5.3× | 22.8% | +19.5% |
| Freshworks FRSH | United States | $3.18B | +37% | +15% | 8% | 2.7× | 12.9% | +27.4% |
| Wix.com WIX | United States | $3.18B | -5% | +14% | -3% | 2.0× | -4.4% | +15.2% |
| Sinch SINCH.ST | Sweden | $3.19B | +13% | -6% | 4% | 1.4× | 23.8% | +27.5% |
| Alarm.com ALRM | United States | $3.19B | +37% | +9% | 13% | 3.1× | 10.9% | +10.3% |
| Bullish BLSH | United States | $3.20B | -51% | +34% | 18% | 9.7× | 32.3% | +14.4% |
| Via Transportation VIA | United States | $3.07B | +118% | +29% | -17% | 5.6× | n/a | n/a |
| Liftoff Mobile LFTO | United States | $3.07B | n/a | +35% | 36% | 5.2× | -7.3% | +35.5% |
| Shenzhen Infogem Technologies 300085.SZ | China | $3.06B | -23% | +2% | -11% | 26.4× | n/a | n/a |
| Hexaware Technologies HEXT.NS | India | $3.26B | +9% | +13% | 12% | 2.0× | 15.4% | +16.5% |
| DHC Software 002065.SZ | China | $3.04B | -23% | -4% | 3% | 2.0× | 14.8% | +7.1% |
| Perfect World 002624.SZ | China | $3.26B | -26% | -8% | 8% | 3.0× | 19.0% | -8.2% |
| Beijing Shiji Information Technology 002153.SZ | China | $3.02B | -27% | -4% | -3% | 6.3× | n/a | n/a |
| Intsig Information 688615.SS | China | $2.96B | -26% | +24% | 22% | 7.8× | 12.6% | +22.1% |
| Teradata TDC | United States | $2.96B | +1% | +1% | 8% | 1.6× | -5.4% | -2.0% |
| Intapp INTA | United States | $3.35B | +76% | +14% | -4% | 5.4× | 4.3% | +21.9% |
| Beijing 51WORLD Digital Twin Technology 6651.HK | Hong Kong | $2.91B | -1% | +39% | -38% | 48.5× | n/a | n/a |
| SPS Commerce SPSC | United States | $2.90B | +45% | +7% | 17% | 3.5× | 7.3% | +19.2% |
| Agilysys AGYS | United States | $3.42B | +69% | +15% | 13% | 9.6× | 22.9% | +18.4% |
| Tata Technologies TATATECH.NS | India | $2.86B | +6% | +22% | 13% | 4.3× | 28.3% | +18.3% |