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Chinese provider of industrial software and smart-manufacturing solutions, including product lifecycle management (PLM), digital engineering and AI agent services.
Chinese provider of industrial software and smart-manufacturing solutions, including product lifecycle management (PLM), digital engineering and AI agent services.
Sells industrial software and project-based services that help manufacturers design, simulate and run production, with product lifecycle management (PLM, software that manages a product from design to retirement) at the core. It is a software partner of Huawei Cloud and Dassault Systemes, and has been adding AI agent products.
Moat: narrow (switching costs, customer qualification). Industrial software embedded in client engineering workflows is costly to replace, though global vendors lead high-end tools.
Headquarters: Beijing, China · Founded: 2006 · Employees: 1,479
Size Nancal Technology (603859.SS) is a China Information Technology company (Computer Peripherals) with a market value of $1.49B, the 1643rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥37.43 on 6 Nov 2026.
Performance Over six months the shares fell 4.5%, against -21.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 9.6% over the last twelve months (peer median +4.6%); the operating margin is 11.8% (peer median 2.0%).
Valuation It trades at 42.5× forward earnings against a peer median of 23.6× (4th most expensive of 13).
Capital Return on invested capital runs 3.9 points below its cost of capital (10.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.70B | CN¥1.52B | CN¥1.50B | CN¥1.40B | CN¥1.23B |
| Revenue growth | — | +1% | +7% | +14% | — |
| Gross profit | CN¥765M | CN¥610M | CN¥622M | CN¥601M | CN¥467M |
| EBITDA | n/a | CN¥445M | CN¥409M | CN¥393M | CN¥316M |
| Net income | CN¥184M | CN¥226M | CN¥192M | CN¥226M | CN¥198M |
| Free cash flow | -CN¥106M | CN¥22.4M | CN¥207M | -CN¥14.2M | -CN¥217M |
| Capital expenditure | CN¥233M | CN¥256M | CN¥318M | CN¥333M | CN¥334M |
| Total debt | CN¥696M | CN¥649M | CN¥376M | CN¥226M | CN¥166M |
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 |
|---|---|---|---|---|---|---|
| Nancal Technology 603859.SS | $1.49B | -5% | +10% | 12% | 42.5× | n/a |
| Dassault Systemes DSY.PA | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| Yonyou Network Technology 600588.SS | $4.72B | -21% | +4% | -16% | n/a | 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 | 603859.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.8% | -8.8% | 3rd highest of 21 |
| 6-month return | -4.5% | -21.0% | 6th highest of 21 |
| Distance from 52-week high | -37.5% | -41.6% | 8th highest of 21 |
| Revenue growth (TTM) | +9.6% | +4.6% | 9th highest of 21 |
| Operating margin | 11.8% | 2.0% | 7th highest of 21 |
| Forward P/E | 42.5× | 23.6× | 4th most expensive of 13 |
| ROIC minus cost of capital | -3.9 pp | -0.3 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nancal Technology 603859.SS | China | $1.49B | -5% | +10% | 12% | 42.5× | n/a | n/a |
| Toyou Feiji Electronics 300302.SZ | China | $1.49B | -24% | +5% | -15% | n/a | n/a | n/a |
| InfoVision Optoelectronics (Kunshan) 688055.SS | China | $1.56B | -23% | -24% | -19% | n/a | n/a | n/a |
| Visionox Technology 002387.SZ | China | $1.35B | -20% | -1% | -35% | n/a | 50.6% | +18.9% |
| Scantech (Hangzhou) 688583.SS | China | $1.31B | -20% | +4% | 1% | n/a | n/a | n/a |
| NSFOCUS Technologies 300369.SZ | China | $1.29B | +45% | +8% | -4% | 266.0× | 38.1% | +4.9% |
| Hua Ying Technology (Group) 000536.SZ | China | $1.27B | -23% | -13% | -54% | n/a | 47.9% | -8.6% |
| FIH Mobile 2038.HK | Hong Kong | $1.24B | -51% | +17% | 1% | n/a | -11.2% | -5.6% |
| Chicony Electronics 2385.TW | Taiwan | $1.96B | -31% | -8% | 7% | 15.4× | -9.6% | +0.1% |
| Beijing Dahao Technology 603025.SS | China | $2.04B | -25% | +23% | 29% | n/a | 7.4% | +29.2% |
| Tianma Microelectronics 000050.SZ | China | $2.05B | -27% | -3% | -1% | 29.5× | -6.2% | +4.4% |
| Global Brands Manufacture 6191.TW | Taiwan | $1.09B | -28% | +49% | 8% | 9.2× | n/a | n/a |
| Elecom 6750.T | Japan | $1.07B | +14% | +15% | 12% | 12.1× | -9.4% | +4.3% |
| Chengdu Galaxy Magnets 300127.SZ | China | $1.06B | -30% | +29% | 21% | 39.8× | 25.3% | +7.4% |
| Plover Bay Technologies 1523.HK | Hong Kong | $959M | -22% | +16% | 42% | 17.7× | 3.8% | +19.9% |
| Kardex KARN.SW | Switzerland | $2.35B | -9% | +3% | 9% | 30.3× | 11.8% | +12.5% |
| Netweb Technologies India NETWEB.NS | India | $2.37B | -12% | +175% | 13% | 55.9× | 46.1% | +72.5% |
| Hitevision 002955.SZ | China | $928M | +2% | -2% | 3% | 15.4× | n/a | n/a |
| Mirle Automation 2464.TW | Taiwan | $928M | +19% | -4% | 1% | 56.5× | n/a | n/a |
| Beijing Certificate Authority 300579.SZ | China | $912M | -15% | -11% | -11% | n/a | 29.0% | -0.4% |
| Ai Holdings Corporation 3076.T | Japan | $885M | +10% | +28% | 13% | 16.9× | -6.9% | +13.0% |