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Maker of trading and back-office software for brokerages, funds and banks, an Ant Group-affiliated financial-software leader.
Maker of trading and back-office software for brokerages, funds and banks, an Ant Group-affiliated financial-software leader.
Sells software licences, then earns implementation and maintenance fees as banks and brokers keep adapting their systems, so income follows how much financial institutions spend on technology, which in turn tracks capital-market activity. Brokerage trading and settlement systems are the anchor of the business, with fund and wealth tools added around them.
In one line: China's SS&C Technologies/FIS for financial-industry software.
Moat: narrow (switching costs, installed base, customer qualification). Deeply embedded trading/back-office systems are costly for financial institutions to replace.
Headquarters: Hangzhou, Zhejiang, China · Founded: 1995 · Employees: 10,276
Size Hundsun Technologies (600570.SS) is a China Information Technology company (Packaged Software) with a market value of $6.05B, the 411th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.39 on 6 Nov 2026.
Performance Over six months the shares fell 20.2%, against +11.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 5.0% over the last twelve months (peer median +12.6%); the operating margin is 8.7% (peer median 17.2%).
Valuation It trades at 30.1× forward earnings against a peer median of 19.7× (5th most expensive of 20).
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 +7%, 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 4.6 points below its cost of capital (9.4% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.59B | CN¥5.78B | CN¥6.52B | CN¥7.22B | CN¥6.44B |
| Revenue growth | — | -11% | -10% | +12% | — |
| Gross profit | CN¥4.04B | CN¥3.96B | CN¥4.51B | CN¥5.22B | CN¥4.55B |
| EBITDA | n/a | CN¥819M | CN¥784M | CN¥1.24B | CN¥985M |
| Net income | CN¥1.35B | CN¥1.23B | CN¥1.04B | CN¥1.42B | CN¥1.09B |
| Free cash flow | CN¥961M | CN¥919M | CN¥528M | CN¥512M | CN¥951M |
| Capital expenditure | CN¥144M | CN¥239M | CN¥416M | CN¥905M | CN¥294M |
| Total debt | CN¥624M | CN¥640M | CN¥617M | CN¥523M | CN¥256M |
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 |
|---|---|---|---|---|---|---|
| Hundsun Technologies 600570.SS | $6.05B | -20% | -5% | 9% | 30.1× | 34.8% |
| SS&C Technologies SSNC | $18.2B | +13% | +9% | 24% | 10.2× | 6.9% |
| Fidelity National Information Services FIS | $14.8B | -33% | +24% | 22% | 5.1× | n/a |
| Kingdee International Software 0268.HK | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% |
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 | 600570.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.6% | +4.5% | 4th highest of 21 |
| 6-month return | -20.2% | +11.5% | 5th lowest of 20 |
| Distance from 52-week high | -40.9% | -25.2% | 5th lowest of 21 |
| Revenue growth (TTM) | -5.0% | +12.6% | lowest of 21 |
| Operating margin | 8.7% | 17.2% | 8th lowest of 21 |
| Forward P/E | 30.1× | 19.7× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 34.8% | 8.6% | most demanding of 19 |
| Growth delivered (Del g) | +7.0% | +16.3% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | +27.8 pp | -6.0 pp | most demanding of 19 |
| ROIC minus cost of capital | -4.6 pp | +3.5 pp | 6th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hundsun Technologies 600570.SS | China | $6.05B | -20% | -5% | 9% | 30.1× | 34.8% | +7.0% |
| ACI Worldwide ACIW | United States | $6.06B | +32% | +7% | 19% | 22.9× | 11.8% | +6.3% |
| Bilibili 9626.HK | Hong Kong | $6.06B | -36% | +11% | 4% | 14.2× | 7.3% | +19.5% |
| NIQ Global Intelligence NIQ | United States | $6.02B | +5% | +9% | 8% | 17.1× | 10.9% | +14.6% |
| Dolby Laboratories DLB | United States | $6.07B | +11% | +1% | 19% | 14.3× | 10.0% | +3.0% |
| Open Text OTEX.TO | Canada | $6.07B | +9% | +1% | 23% | 6.4× | -6.2% | +10.8% |
| RingCentral RNG | United States | $6.09B | +58% | +5% | 9% | 13.3× | 15.2% | +16.3% |
| Shanghai Baosight Software 600845.SS | China | $5.97B | -24% | +11% | 10% | 30.3× | 6.9% | +1.4% |
| Klaviyo KVYO | United States | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% | +37.7% |
| Topicus.com TOI.V | Canada | $6.25B | +9% | +28% | 15% | 21.3× | 0.7% | +26.5% |
| SenseTime 0020.HK | Hong Kong | $6.25B | -44% | +31% | -51% | n/a | n/a | n/a |
| Navan NAVN | United States | $6.25B | +36% | +35% | -25% | 76.3× | n/a | n/a |
| International Games System 3293.TWO | Taiwan | $6.27B | 0% | +15% | 59% | 14.4× | -4.0% | +21.2% |
| Doximity DOCS | United States | $5.79B | +25% | +11% | 31% | 23.3× | 16.3% | +25.5% |
| Commvault Systems CVLT | United States | $6.48B | +51% | +14% | 10% | 27.6× | 26.9% | +10.3% |
| Varonis Systems VRNS | United States | $5.63B | +71% | +18% | -25% | 138.0× | 23.0% | +16.3% |
| Giant Network 002558.SZ | China | $5.61B | -35% | +105% | 48% | 10.0× | -2.1% | +17.9% |
| Sectra SECT-B.ST | Sweden | $6.53B | +27% | +14% | 20% | 85.0× | 29.0% | +16.8% |
| Octave Intelligence OCTV | United States | $5.60B | n/a | +1% | 20% | 14.7× | 17.0% | +1.3% |
| Qualys QLYS | United States | $6.59B | +102% | +11% | 35% | 23.7× | 4.7% | +13.1% |
| Kingnet Network 002517.SZ | China | $5.47B | -4% | +62% | 29% | 13.7× | 6.3% | +28.1% |