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IT/digital-technology subsidiary of state defense-electronics group CETC, providing systems integration and software.
IT/digital-technology subsidiary of state defense-electronics group CETC, providing systems integration and software.
Moat: narrow (customer qualification). CETC-group affiliation gives preferred access to state and defense IT contracts.
Headquarters: Nanjing, Jiangsu, China · Employees: 3,924
Size CETC Digital Technology (600850.SS) is a China Information Technology company (Information Technology Services) with a market value of $1.62B, the 1526th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.27 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -12.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 0.9% over the last twelve months (peer median +6.0%); the operating margin is 2.0% (peer median 6.5%).
Valuation It trades at 17.3× forward earnings against a peer median of 34.4× (cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +13 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 2.7 points below its cost of capital (6.3% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥11.1B | CN¥10.7B | CN¥10.7B | CN¥9.98B | CN¥9.85B |
| Revenue growth | — | 0% | +7% | +1% | — |
| Gross profit | CN¥1.87B | CN¥1.79B | CN¥1.97B | CN¥1.95B | CN¥1.83B |
| EBITDA | n/a | CN¥485M | CN¥694M | CN¥619M | CN¥643M |
| Net income | CN¥197M | CN¥329M | CN¥551M | CN¥497M | CN¥521M |
| Free cash flow | CN¥233M | CN¥72.7M | -CN¥382M | CN¥25.6M | -CN¥15.0M |
| Capital expenditure | CN¥136M | CN¥143M | CN¥135M | CN¥118M | CN¥94.5M |
| Total debt | CN¥3.29B | CN¥2.20B | CN¥1.77B | CN¥774M | CN¥751M |
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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 | 600850.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.1% | -3.5% | 9th highest of 21 |
| 6-month return | -17.7% | -12.5% | 8th lowest of 21 |
| Distance from 52-week high | -55.7% | -34.1% | 2nd lowest of 21 |
| Revenue growth (TTM) | -0.9% | +6.0% | 5th lowest of 21 |
| Operating margin | 2.0% | 6.5% | 9th lowest of 21 |
| Forward P/E | 17.3× | 34.4× | cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 19.1% | 12.4% | 3rd most demanding of 10 |
| Growth delivered (Del g) | +5.8% | +9.7% | 3rd lowest of 10 |
| Hurdle (Req g minus delivered) | +13.3 pp | -3.9 pp | 2nd most demanding of 10 |
| ROIC minus cost of capital | -2.7 pp | -6.1 pp | 8th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CETC Digital Technology 600850.SS | China | $1.62B | -18% | -1% | 2% | 17.3× | 19.1% | +5.8% |
| Zen Technologies ZENTEC.NS | India | $1.64B | +6% | +4% | 31% | 45.7× | 53.0% | +66.0% |
| Mega Fortune MGRT | United States | $1.65B | -14% | -8% | -37% | n/a | n/a | n/a |
| PDF Solutions PDFS | United States | $1.59B | -27% | +23% | 8% | 26.0× | n/a | n/a |
| secunet Security Networks YSN.DE | Germany | $1.66B | +20% | +13% | 11% | 37.3× | n/a | n/a |
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Data#3 DTL.AX | Australia | $1.54B | +81% | +6% | 8% | 31.6× | 26.9% | -14.2% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| Shenzhen YSSTech Information Technology 300377.SZ | China | $1.53B | -24% | +14% | -3% | n/a | n/a | n/a |
| Black Box BBOX.NS | India | $1.53B | +10% | +12% | 7% | 47.3× | n/a | n/a |
| Shenzhen Forms Syntron Information 300468.SZ | China | $1.52B | -33% | +9% | 9% | n/a | n/a | n/a |
| Cetc Potevio Science & Technology 002544.SZ | China | $1.52B | -41% | 0% | 0% | 375.0× | n/a | n/a |
| Guangzhou Sie Consulting 300687.SZ | China | $1.52B | 0% | +3% | -3% | 79.8× | n/a | n/a |
| Neusoft 600718.SS | China | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% | +9.7% |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| CETC Cyberspace Security Technology 002268.SZ | China | $1.77B | -11% | -3% | 1% | 45.0× | n/a | n/a |
| Voyager Technologies VOYG | United States | $1.49B | -19% | +42% | -82% | n/a | n/a | n/a |
| A10 Networks ATEN | United States | $1.80B | -11% | +12% | 17% | 22.0× | 16.7% | +5.2% |