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Industrial-software maker for smart manufacturing and steel-industry automation, affiliated with steelmaker Baowu/Baosteel.
Industrial-software maker for smart manufacturing and steel-industry automation, affiliated with steelmaker Baowu/Baosteel.
Earns project fees for building and installing production-control software at steelworks and factories, with steady maintenance and operations fees after. Baowu, China's largest steelmaker and its controlling group, is the main customer, so the steel cycle and Baowu's investment spending matter to it, though it is selling to other manufacturers.
In one line: A Chinese Siemens Digital Industries for manufacturing software.
Moat: narrow (customer qualification, installed base). Deep steel-industry domain expertise and a captive relationship with parent Baowu Steel.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 6,060
Size Shanghai Baosight Software (600845.SS) is a China Information Technology company (Packaged Software) with a market value of $5.97B, the 418th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.14 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against +11.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 11.2% over the last twelve months (peer median +14.1%); the operating margin is 10.2% (peer median 17.2%).
Valuation It trades at 30.3× forward earnings against a peer median of 17.1× (4th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +5 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 5.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥12.2B | CN¥10.9B | CN¥13.6B | CN¥12.8B | CN¥13.1B |
| Revenue growth | — | -20% | +6% | -2% | — |
| Gross profit | CN¥3.75B | CN¥3.30B | CN¥4.58B | CN¥4.59B | CN¥4.21B |
| EBITDA | n/a | CN¥1.94B | CN¥3.00B | CN¥3.16B | CN¥2.76B |
| Net income | CN¥1.19B | CN¥1.31B | CN¥2.27B | CN¥2.55B | CN¥2.19B |
| Free cash flow | CN¥385M | CN¥903M | CN¥1.25B | CN¥2.26B | CN¥2.23B |
| Capital expenditure | CN¥2.22B | CN¥1.25B | CN¥437M | CN¥376M | CN¥301M |
| Total debt | CN¥4.10B | CN¥2.76B | CN¥2.47B | CN¥2.28B | CN¥1.08B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Baosight Software 600845.SS | $5.97B | -24% | +11% | 10% | 30.3× | 6.9% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| Rockwell Automation ROK | $41.7B | -17% | +11% | 14% | 25.0× | 27.2% |
| SUPCON Technology 688777.SS | $8.58B | -9% | -6% | -3% | 116.4× | 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 | 600845.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | +6.8% | 6th lowest of 21 |
| 6-month return | -24.4% | +11.5% | 4th lowest of 20 |
| Distance from 52-week high | -34.3% | -25.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +11.2% | +14.1% | 10th lowest of 21 |
| Operating margin | 10.2% | 17.2% | 10th lowest of 21 |
| Forward P/E | 30.3× | 17.1× | 4th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 10.4% | 6th least demanding of 19 |
| Growth delivered (Del g) | +1.4% | +16.3% | 2nd lowest of 19 |
| Hurdle (Req g minus delivered) | +5.5 pp | -6.1 pp | 8th most demanding of 19 |
| ROIC minus cost of capital | +5.1 pp | +2.1 pp | 7th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Baosight Software 600845.SS | China | $5.97B | -24% | +11% | 10% | 30.3× | 6.9% | +1.4% |
| NIQ Global Intelligence NIQ | United States | $6.02B | +5% | +9% | 8% | 17.1× | 10.9% | +14.6% |
| Hundsun Technologies 600570.SS | China | $6.05B | -20% | -5% | 9% | 30.1× | 34.8% | +7.0% |
| Klaviyo KVYO | United States | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% | +37.7% |
| 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% |
| 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% |
| Doximity DOCS | United States | $5.79B | +25% | +11% | 31% | 23.3× | 16.3% | +25.5% |
| 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% |
| 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% |
| Octave Intelligence OCTV | United States | $5.60B | n/a | +1% | 20% | 14.7× | 17.0% | +1.3% |
| Commvault Systems CVLT | United States | $6.48B | +51% | +14% | 10% | 27.6× | 26.9% | +10.3% |
| Kingnet Network 002517.SZ | China | $5.47B | -4% | +62% | 29% | 13.7× | 6.3% | +28.1% |
| Sectra SECT-B.ST | Sweden | $6.53B | +27% | +14% | 20% | 85.0× | 29.0% | +16.8% |
| Waystar WAY | United States | $5.45B | +33% | +21% | 24% | 15.8× | 7.5% | +16.0% |