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Employees: 3,516
Size DBAPPSecurity (688023.SS) is a China Information Technology company (Packaged Software) with a market value of $646M, the 3249th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥42.22 on 6 Nov 2026.
Performance Over six months the shares fell 5.5%, against -12.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +4.8%); the operating margin is -4.9% (peer median 4.5%).
Valuation It trades at 115.5× forward earnings against a peer median of 18.6× (most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.5 points below its cost of capital (9.1% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.12B | CN¥2.14B | CN¥2.03B | CN¥2.15B | CN¥1.96B |
| Revenue growth | — | +5% | -6% | +10% | — |
| Gross profit | CN¥1.35B | CN¥1.26B | CN¥1.14B | CN¥1.25B | CN¥1.19B |
| EBITDA | n/a | CN¥136M | -CN¥41.6M | -CN¥233M | -CN¥269M |
| Net income | -CN¥72.1M | -CN¥57.5M | -CN¥198M | -CN¥360M | -CN¥254M |
| Free cash flow | CN¥242M | CN¥248M | CN¥23.7M | -CN¥411M | -CN¥344M |
| Capital expenditure | CN¥95.6M | CN¥125M | CN¥166M | CN¥180M | CN¥205M |
| Total debt | CN¥658M | CN¥844M | CN¥1.30B | CN¥1.33B | CN¥1.08B |
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.
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 | 688023.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | -2.3% | 5th lowest of 21 |
| 6-month return | -5.5% | -12.7% | 9th highest of 21 |
| Distance from 52-week high | -36.6% | -38.1% | 9th highest of 21 |
| Revenue growth (TTM) | +1.7% | +4.8% | 9th lowest of 21 |
| Operating margin | -4.9% | 4.5% | 8th lowest of 21 |
| Forward P/E | 115.5× | 18.6× | most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 5.6% | 21.7% | 5th least demanding of 12 |
| Growth delivered (Del g) | +10.3% | +15.6% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | -4.7 pp | +2.6 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | -10.5 pp | -5.4 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| DBAPPSecurity 688023.SS | China | $646M | -6% | +2% | -5% | 115.5× | 5.6% | +10.3% |
| Hypoport HYQ.DE | Germany | $648M | -2% | -5% | 6% | 20.2× | 22.2% | +9.2% |
| Priority Technology PRTH | United States | $650M | +18% | +9% | 14% | 6.7× | 2.9% | +18.7% |
| Alfa Financial Software ALFA.L | United Kingdom | $651M | +4% | +8% | 30% | 17.0× | -2.0% | +9.9% |
| Mingchen Health 002919.SZ | China | $640M | -33% | +19% | -5% | n/a | 27.2% | +17.5% |
| Hello Group Inc. Sponsored ADR MOMO | United States | $654M | -26% | 0% | 11% | 5.8× | n/a | n/a |
| Sichuan Discovery Dream Science & Technology 301213.SZ | China | $633M | -26% | +34% | 2% | n/a | n/a | n/a |
| Beijing Thunisoft 300271.SZ | China | $663M | -13% | +11% | -9% | n/a | n/a | n/a |
| Beijing Deep Glint Technology 688207.SS | China | $663M | +15% | -14% | -195% | n/a | n/a | n/a |
| Shanghai Amarsoft Information & Technology 300380.SZ | China | $628M | -30% | -2% | 4% | n/a | n/a | n/a |
| Newgen Software Technologies NEWGEN.NS | India | $665M | -12% | +6% | 24% | 16.8× | 21.7% | +18.5% |
| Pansoft 300996.SZ | China | $665M | -11% | -4% | 11% | 46.0× | n/a | n/a |
| AIC 3693.TWO | Taiwan | $667M | -22% | -21% | 8% | n/a | 22.9% | +20.2% |
| Inspur Software 600756.SS | China | $669M | -23% | -25% | -25% | n/a | n/a | n/a |
| Fuchun Technology 300299.SZ | China | $623M | -2% | +3% | 2% | n/a | 54.9% | -4.8% |
| Sprout Social SPT | United States | $669M | +63% | +11% | -5% | 7.0× | 0.2% | +28.0% |
| Zhejiang TOP Cloud-agri Technology 301556.SZ | China | $620M | -34% | -14% | 13% | 40.4× | 30.7% | +14.0% |
| Shenzhen Sunshine Laser & Electronics Technology 300227.SZ | China | $673M | -33% | +90% | -15% | n/a | n/a | n/a |
| Hansong (Nanjing) Technology 301491.SZ | China | $673M | -28% | +26% | 10% | n/a | -1.4% | +9.7% |
| RaySearch Laboratories RAY-B.ST | Sweden | $618M | +1% | +3% | 19% | 27.7× | 7.3% | +15.6% |
| Terra Drone 278A.T | Japan | $618M | +564% | +14% | -26% | 69.9× | n/a | n/a |