Loading…
Chinese software vendor providing core IT systems for the insurance industry.
Chinese software vendor providing core IT systems for the insurance industry.
In one line: A Chinese Guidewire (insurance core systems).
Moat: narrow (switching costs, customer qualification). Insurers' core policy/claims systems are costly and risky to replace once deployed.
Headquarters: Beijing, China · Employees: 18,006
Size Sinosoft (603927.SS) is a China Information Technology company (Packaged Software) with a market value of $1.77B, the 1409th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.17 on 6 Nov 2026.
Performance Over six months the shares fell 13.8%, against -27.0% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 23.5% over the last twelve months (peer median +19.8%); the operating margin is 1.9% (peer median 9.2%).
Valuation It trades at 44.3× forward earnings against a peer median of 33.4× (7th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +22 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 8.4 points above its cost of capital (6.8% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.32B | CN¥6.00B | CN¥6.35B | CN¥6.47B | CN¥6.67B |
| Revenue growth | — | -5% | -2% | -3% | — |
| Gross profit | CN¥1.40B | CN¥1.44B | CN¥1.67B | CN¥2.00B | CN¥1.91B |
| EBITDA | n/a | CN¥188M | CN¥357M | CN¥636M | CN¥614M |
| Net income | CN¥199M | CN¥224M | CN¥355M | CN¥655M | CN¥638M |
| Free cash flow | CN¥673M | CN¥134M | CN¥1.23B | CN¥159M | CN¥248M |
| Capital expenditure | CN¥29.1M | CN¥20.0M | CN¥17.6M | CN¥36.8M | CN¥32.5M |
| Total debt | CN¥52.1M | CN¥315M | CN¥553M | CN¥180M | CN¥81.7M |
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 |
|---|---|---|---|---|---|---|
| Sinosoft 603927.SS | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% |
| Guidewire Software GWRE | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% |
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 | 603927.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.0% | +4.0% | 10th highest of 21 |
| 6-month return | -13.8% | -27.0% | 8th highest of 20 |
| Distance from 52-week high | -36.9% | -41.1% | 9th highest of 21 |
| Revenue growth (TTM) | -23.5% | +19.8% | 3rd lowest of 21 |
| Operating margin | 1.9% | 9.2% | 6th lowest of 21 |
| Forward P/E | 44.3× | 33.4× | 7th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 23.0% | 23.2% | 7th least demanding of 13 |
| Growth delivered (Del g) | +0.9% | +20.2% | 2nd lowest of 13 |
| Hurdle (Req g minus delivered) | +22.1 pp | -1.7 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | +8.4 pp | +1.4 pp | 4th highest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |
| C3.ai AI | United States | $1.84B | +18% | -38% | -198% | n/a | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| SoundHound AI SOUN | United States | $1.85B | -54% | +55% | -96% | n/a | n/a | n/a |
| Hydsoft Technology 301316.SZ | China | $1.86B | -41% | +19% | 3% | 158.4× | 46.1% | +26.7% |
| eToro ETOR | United States | $1.86B | -40% | +10% | 32% | 11.0× | -18.5% | +15.4% |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| ArcSoft 688088.SS | China | $1.87B | -26% | +10% | 12% | 49.1× | 41.3% | +6.2% |
| Shenzhen Intellifusion Technologies 688343.SS | China | $1.87B | -46% | -4% | -52% | n/a | n/a | n/a |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |