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Xiamen developer and publisher of online and mobile games, best known for Wen Dao and Yi Nian Xiao Yao.
Xiamen developer and publisher of online and mobile games, best known for Wen Dao and Yi Nian Xiao Yao.
Moat: narrow (IP / patents, brand). Long-running Wen Dao franchise with a loyal player base, but earnings hinge on a few titles.
Headquarters: Xiamen, China · Founded: 2004 · Employees: 995
Size G-Bits Network Technology (Xiamen) (603444.SS) is a China Information Technology company (Packaged Software) with a market value of $3.77B, the 681st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥349.31 on 6 Nov 2026.
Performance Over six months the shares fell 14.1%, against +3.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 34.5% over the last twelve months (peer median +22.6%); the operating margin is 39.6% (peer median 5.7%).
Valuation It trades at 12.5× forward earnings against a peer median of 30.6× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 71.0 points above its cost of capital (11.7% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.22B | CN¥6.18B | CN¥3.68B | CN¥4.17B | CN¥5.15B |
| Revenue growth | — | +68% | -12% | -19% | — |
| Gross profit | CN¥6.83B | CN¥5.77B | CN¥3.20B | CN¥3.65B | CN¥4.53B |
| EBITDA | n/a | CN¥2.48B | CN¥1.28B | CN¥1.70B | CN¥2.27B |
| Net income | CN¥2.16B | CN¥1.79B | CN¥945M | CN¥1.13B | CN¥1.46B |
| Free cash flow | n/a | CN¥2.85B | CN¥1.29B | CN¥1.21B | CN¥1.79B |
| Capital expenditure | n/a | CN¥3.10M | CN¥23.5M | CN¥55.7M | CN¥43.6M |
| Total debt | CN¥22.7M | CN¥23.8M | CN¥31.6M | CN¥38.9M | CN¥7.76M |
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 |
|---|---|---|---|---|---|---|
| G-Bits Network Technology (Xiamen) 603444.SS | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% |
| Netease Inc Sponsored ADR NTES | $74.3B | +12% | +10% | 35% | 13.1× | -4.5% |
| 37 Interactive Entertainment Network Technology 002555.SZ | $5.29B | -24% | -10% | 14% | 14.2× | 5.0% |
| Perfect World 002624.SZ | $3.26B | -26% | -8% | 8% | 21.1× | 19.0% |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
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 | 603444.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.0% | +7.2% | 9th lowest of 21 |
| 6-month return | -14.1% | +3.8% | 6th lowest of 20 |
| Distance from 52-week high | -33.9% | -40.8% | 10th highest of 21 |
| Revenue growth (TTM) | +34.5% | +22.6% | 5th highest of 21 |
| Operating margin | 39.6% | 5.7% | 2nd highest of 20 |
| Forward P/E | 12.5× | 30.6× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -0.9% | 22.9% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +17.7% | +20.6% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | -18.6 pp | +4.5 pp | 3rd least demanding of 14 |
| ROIC minus cost of capital | +71.0 pp | -4.2 pp | highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| G-Bits Network Technology (Xiamen) 603444.SS | China | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% | +17.7% |
| Geovis Technology 688568.SS | China | $3.78B | -45% | -64% | -70% | n/a | n/a | n/a |
| Core Scientific CORZ | United States | $3.78B | -49% | +26% | -31% | n/a | n/a | n/a |
| Koei Tecmo 3635.T | Japan | $3.74B | +15% | +19% | 43% | 15.1× | -5.7% | +7.9% |
| Glory View Technology 301396.SZ | China | $3.72B | -49% | +53% | n/a | 25.3× | n/a | n/a |
| Thunder Software Technology 300496.SZ | China | $3.83B | -13% | +40% | 6% | 40.0× | n/a | n/a |
| monday.com MNDY | United States | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% | +50.2% |
| Appian APPN | United States | $3.70B | +135% | +21% | 4% | 41.6× | 42.9% | +19.0% |
| Life360 LIF | United States | $3.86B | +8% | +34% | 1% | 33.9× | n/a | n/a |
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% | +26.4% |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 14.4× | 2.4% | +60.0% |
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% | +20.6% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| AvePoint AVPT | United States | $3.50B | +45% | +25% | 10% | 37.6× | 31.6% | +22.6% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Agilysys AGYS | United States | $3.42B | +69% | +15% | 13% | 41.6× | 22.9% | +18.4% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |