Diversified technology/electronics holding company affiliated with the former HNA Group conglomerate.
Diversified technology/electronics holding company affiliated with the former HNA Group conglomerate.
Moat: none. Conglomerate holding structure with no single dominant, defensible business.
Headquarters: Haikou, China · Employees: 91
Size HNA Technology (600751.SS) is a China Information Technology company (Electronics Distributors) with a market value of $1.11B, the 2092nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.72 on 6 Nov 2026.
Performance Over six months the shares fell 26.1%, against -8.7% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 33.2% over the last twelve months (peer median +12.5%); the operating margin is 0.3% (peer median 3.8%).
Valuation It trades at 3.8× enterprise value to sales against a peer median of 0.7× (3rd most expensive of 21).
Capital Return on invested capital runs 4.8 points below its cost of capital (6.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.77B | CN¥1.54B | CN¥1.11B | CN¥648M | CN¥144M |
| Revenue growth | — | +38% | +72% | +350% | — |
| Gross profit | CN¥237M | CN¥56.0M | CN¥68.8M | -CN¥30.4M | -CN¥16.1M |
| EBITDA | n/a | CN¥71.6M | CN¥137M | CN¥1.43M | -CN¥65.9M |
| Net income | CN¥87.6M | CN¥103M | CN¥124M | CN¥242M | CN¥195M |
| Free cash flow | -CN¥732M | -CN¥619M | -CN¥481M | -CN¥2.34B | -CN¥930M |
| Capital expenditure | CN¥660M | CN¥442M | CN¥43.5M | CN¥40.4M | CN¥845M |
| Total debt | CN¥2.07B | CN¥1.45B | CN¥985M | CN¥1.27B | CN¥3.00B |
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| Measure | 600751.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -12.4% | 6th highest of 21 |
| 6-month return | -26.1% | -8.7% | 5th lowest of 21 |
| Distance from 52-week high | -48.7% | -33.9% | 5th lowest of 21 |
| Revenue growth (TTM) | +33.2% | +12.5% | 6th highest of 21 |
| Operating margin | 0.3% | 3.8% | 5th lowest of 21 |
| EV / Sales | 3.8× | 0.7× | 3rd most expensive of 21 |
| ROIC minus cost of capital | -4.8 pp | +2.3 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HNA Technology 600751.SS | China | $1.11B | -26% | +33% | 0% | 3.8× | n/a | n/a |
| Shanghai YCT Electronics 301099.SZ | China | $1.02B | -17% | +106% | 6% | 0.9× | n/a | n/a |
| Tomen Devices 2737.T | Japan | $926M | +41% | +157% | 4% | 0.3× | n/a | n/a |
| Yubico YUBICO.ST | Sweden | $1.40B | +189% | -9% | 9% | 6.0× | 26.3% | +12.4% |
| Telling Telecommunication 000829.SZ | China | $1.41B | -21% | +37% | 0% | 0.2× | n/a | n/a |
| Restar 3156.T | Japan | $877M | +60% | +23% | 4% | 0.4× | n/a | n/a |
| Kyland Technology 300353.SZ | China | $1.42B | -17% | -6% | -6% | 11.8× | n/a | n/a |
| ScanSource SCSC | United States | $871M | -7% | +6% | 3% | 0.3× | 0.4% | +0.5% |
| Shenzhen Aisidi 002416.SZ | China | $1.44B | -44% | +26% | 1% | 0.2× | n/a | n/a |
| Beijing Oriental Jicheng 002819.SZ | China | $848M | -27% | +7% | -3% | 1.6× | 10.3% | +23.4% |
| SeSa SES.MI | Italy | $1.53B | -1% | +11% | 4% | 0.4× | -7.1% | +12.0% |
| SFC 301558.SZ | China | $793M | -19% | -8% | 4% | 2.5× | 30.3% | -3.2% |
| Wuhan P&S Information Technology 300184.SZ | China | $1.63B | -29% | +48% | 5% | 0.9× | n/a | n/a |
| Climb Global Solutions CLMB | United States | $741M | +97% | +24% | 4% | 0.9× | 13.1% | +21.0% |
| Shenzhen Yitoa Intelligent Control 300131.SZ | China | $1.68B | -39% | +3% | 0% | 2.1× | n/a | n/a |
| Beijing Asiacom Information Technology 301085.SZ | China | $717M | -21% | +47% | -4% | 2.9× | n/a | n/a |
| Daiwabo 3107.T | Japan | $1.79B | +4% | +14% | 3% | 0.2× | -7.7% | +5.3% |
| Tokyo Electron Device 2760.T | Japan | $676M | 0% | +16% | 6% | 0.6× | 5.9% | +7.3% |
| Ryoyo Ryosan Holdings,Inc 167A.T | Japan | $676M | +9% | +7% | 3% | 0.3× | n/a | n/a |
| SINBON Electronics 3023.TW | Taiwan | $1.88B | -11% | +9% | 10% | 1.8× | -0.1% | +7.3% |
| Daiichi Jitsugyo 8059.T | Japan | $633M | -2% | -7% | 6% | 0.2× | -19.3% | +9.4% |