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Chinese maker of computerized control systems for industrial sewing and embroidery machines.
Chinese maker of computerized control systems for industrial sewing and embroidery machines.
Sells control systems as a component that machine builders fit into each embroidery or sewing machine, so it earns per machine shipped and its volumes track the builders' output and textile-industry investment rather than end-user spending.
Moat: narrow (process know-how, installed base). Niche industrial-control expertise with an installed base among Chinese textile-machine makers.
Headquarters: Beijing, China · Employees: 1,720
Size Beijing Dahao Technology (603025.SS) is a China Information Technology company (Computer Peripherals) with a market value of $2.04B, the 1241st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.22 on 6 Nov 2026.
Performance Over six months the shares fell 25.3%, against -16.9% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 23.1% over the last twelve months (peer median +6.5%); the operating margin is 29.3% (peer median 6.5%).
Valuation It trades at 3.9× enterprise value to sales against a peer median of 3.3× (10th most expensive of 21).
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 +29%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.4 points above its cost of capital (9.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.50B | CN¥2.99B | CN¥2.52B | CN¥2.02B | CN¥1.59B |
| Revenue growth | — | +19% | +25% | +27% | — |
| Gross profit | CN¥1.57B | CN¥1.26B | CN¥1.02B | CN¥766M | CN¥623M |
| EBITDA | n/a | CN¥976M | CN¥740M | CN¥489M | CN¥422M |
| Net income | CN¥881M | CN¥710M | CN¥584M | CN¥405M | CN¥435M |
| Free cash flow | CN¥545M | CN¥333M | CN¥214M | CN¥319M | CN¥291M |
| Capital expenditure | CN¥22.0M | CN¥56.1M | CN¥17.8M | CN¥13.5M | CN¥13.2M |
| Total debt | CN¥1.10B | CN¥829M | CN¥877M | CN¥661M | CN¥438M |
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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 | 603025.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.9% | -9.2% | 8th highest of 21 |
| 6-month return | -25.3% | -16.9% | 6th lowest of 21 |
| Distance from 52-week high | -43.9% | -40.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +23.1% | +6.5% | 8th highest of 21 |
| Operating margin | 29.3% | 6.5% | 4th highest of 21 |
| EV / Sales | 3.9× | 3.3× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 7.4% | 27.3% | 3rd least demanding of 10 |
| Growth delivered (Del g) | +29.2% | +4.9% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | -21.9 pp | +22.4 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | +14.4 pp | +4.0 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Dahao Technology 603025.SS | China | $2.04B | -25% | +23% | 29% | 3.9× | 7.4% | +29.2% |
| Tianma Microelectronics 000050.SZ | China | $2.05B | -27% | -3% | -1% | 1.2× | -6.2% | +4.4% |
| Chicony Electronics 2385.TW | Taiwan | $1.96B | -31% | -8% | 7% | 0.6× | -9.6% | +0.1% |
| Kardex KARN.SW | Switzerland | $2.35B | -9% | +3% | 9% | 2.3× | 11.8% | +12.5% |
| Netweb Technologies India NETWEB.NS | India | $2.37B | -12% | +175% | 13% | 5.8× | 46.1% | +72.5% |
| Societe Industrielle & Financiere de l'Artois ARTO.PA | France | $2.55B | -26% | -6% | -8% | 16.2× | n/a | n/a |
| Newland Digital Technology 000997.SZ | China | $2.56B | -14% | +29% | 11% | 1.2× | n/a | n/a |
| Venustech 002439.SZ | China | $2.58B | -9% | 0% | -16% | 6.4× | 19.0% | -8.6% |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 1.3× | n/a | n/a |
| InfoVision Optoelectronics (Kunshan) 688055.SS | China | $1.56B | -23% | -24% | -19% | 5.8× | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.1× | n/a | n/a |
| Nancal Technology 603859.SS | China | $1.49B | -5% | +10% | 12% | 5.6× | n/a | n/a |
| Toyou Feiji Electronics 300302.SZ | China | $1.49B | -24% | +5% | -15% | 25.6× | n/a | n/a |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 3.3× | n/a | n/a |
| Visionox Technology 002387.SZ | China | $1.35B | -20% | -1% | -35% | 4.9× | 50.6% | +18.9% |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 2.4× | 27.3% | +4.9% |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 1.5× | n/a | n/a |
| Scantech (Hangzhou) 688583.SS | China | $1.31B | -20% | +4% | 1% | 21.7× | n/a | n/a |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 2.0× | n/a | n/a |
| NSFOCUS Technologies 300369.SZ | China | $1.29B | +45% | +8% | -4% | 3.4× | 38.1% | +4.9% |
| Hua Ying Technology (Group) 000536.SZ | China | $1.27B | -23% | -13% | -54% | 9.4× | 47.9% | -8.6% |