Loading…
Chinese cybersecurity company providing threat detection, endpoint security and security services to enterprises and government.
Chinese cybersecurity company providing threat detection, endpoint security and security services to enterprises and government.
Sells security software, appliances and services to government and large firms, largely as project contracts with state buyers, so revenue arrives in batches after annual budgets are approved. It grew out of Qihoo 360's enterprise security arm.
In one line: A smaller, China-focused CrowdStrike/Palo Alto Networks.
Moat: narrow (customer qualification, data). Deep government/enterprise security qualification and accumulated threat-intelligence data.
Headquarters: Beijing, China · Founded: 2014 · Employees: 7,419
Size Qi An Xin Technology (688561.SS) is a China Information Technology company (Electronics Distributors) with a market value of $2.61B, the 991st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥25.53 on 6 Nov 2026.
Performance Over six months the shares fell 15.2%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 14.3% over the last twelve months (peer median +28.8%); the operating margin is -45.5% (peer median 3.8%).
Valuation It trades at 5.0× enterprise value to sales against a peer median of 0.8× (3rd most expensive of 21).
Capital Return on invested capital runs 23.5 points below its cost of capital (8.9% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.82B | CN¥4.35B | CN¥4.30B | CN¥6.39B | CN¥6.19B |
| Revenue growth | — | +1% | -33% | +3% | — |
| Gross profit | CN¥1.97B | CN¥1.94B | CN¥2.13B | CN¥3.85B | CN¥3.71B |
| EBITDA | n/a | -CN¥929M | -CN¥1.20B | CN¥140M | -CN¥233M |
| Net income | -CN¥1.84B | -CN¥1.29B | -CN¥1.38B | CN¥71.8M | CN¥57.6M |
| Free cash flow | -CN¥140M | -CN¥282M | -CN¥551M | -CN¥887M | -CN¥1.44B |
| Capital expenditure | CN¥231M | CN¥244M | CN¥210M | CN¥112M | CN¥187M |
| Total debt | CN¥3.23B | CN¥2.63B | CN¥2.61B | CN¥2.38B | CN¥706M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Qi An Xin Technology 688561.SS | $2.61B | -15% | -14% | -45% | 5.0× | n/a |
| Venustech 002439.SZ | $2.58B | -9% | 0% | -16% | 6.4× | 19.0% |
| Sangfor Technologies 300454.SZ | $7.84B | +5% | +21% | 2% | 5.2× | 46.1% |
| NSFOCUS Technologies 300369.SZ | $1.29B | +45% | +8% | -4% | 3.4× | 38.1% |
| DBAPPSecurity 688023.SS | $646M | -6% | +2% | -5% | 1.8× | 5.6% |
| 360 Security Technology 601360.SS | $8.63B | -26% | +7% | -4% | 4.1× | 55.2% |
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 | 688561.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.6% | -7.9% | 10th lowest of 21 |
| 6-month return | -15.2% | -10.8% | 9th lowest of 21 |
| Distance from 52-week high | -43.1% | -30.0% | 8th lowest of 21 |
| Revenue growth (TTM) | -14.3% | +28.8% | lowest of 21 |
| Operating margin | -45.5% | 3.8% | lowest of 21 |
| EV / Sales | 5.0× | 0.8× | 3rd most expensive of 21 |
| ROIC minus cost of capital | -23.5 pp | +2.9 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Qi An Xin Technology 688561.SS | China | $2.61B | -15% | -14% | -45% | 5.0× | n/a | n/a |
| BIPROGY 8056.T | Japan | $2.47B | -3% | +4% | 10% | 1.0× | -9.5% | +7.1% |
| Nanjing Sunlord Electronics 300975.SZ | China | $2.40B | -11% | +109% | 8% | 1.2× | n/a | n/a |
| Resideo Technologies REZI | United States | $2.95B | +6% | +3% | 8% | 0.8× | n/a | n/a |
| SoftwareOne SWON.SW | Switzerland | $2.30B | +11% | +62% | 12% | 1.5× | -5.7% | +8.4% |
| Shenzhen CECport Technologies 001287.SZ | China | $2.28B | -24% | +138% | 2% | 0.3× | n/a | n/a |
| ALSO ALSN.SW | Switzerland | $3.01B | +17% | +29% | 2% | 0.2× | -4.4% | -0.1% |
| Shenzhen Huaqiang Industry 000062.SZ | China | $3.04B | -48% | +48% | 4% | 0.8× | n/a | n/a |
| ASBISc Enterprises ASB.WA | Poland | $2.17B | +123% | +43% | 4% | 0.5× | 5.9% | +9.5% |
| Xi'an Novastar Tech 301589.SZ | China | $2.12B | -9% | +15% | 17% | 3.7× | 15.9% | +28.7% |
| WinWay Technology 6515.TW | Taiwan | $3.63B | -67% | +45% | 24% | 10.9× | 32.8% | +22.0% |
| SINBON Electronics 3023.TW | Taiwan | $1.88B | -11% | +9% | 10% | 1.8× | -0.1% | +7.3% |
| Daiwabo 3107.T | Japan | $1.79B | +4% | +14% | 3% | 0.2× | -7.7% | +5.3% |
| Shenzhen Yitoa Intelligent Control 300131.SZ | China | $1.68B | -39% | +3% | 0% | 2.1× | n/a | n/a |
| Wuhan P&S Information Technology 300184.SZ | China | $1.63B | -29% | +48% | 5% | 0.9× | n/a | n/a |
| Synnex Technology International 2347.TW | Taiwan | $4.26B | +3% | +36% | 2% | 0.4× | n/a | n/a |
| SeSa SES.MI | Italy | $1.53B | -1% | +11% | 4% | 0.4× | -7.1% | +12.0% |
| Shenzhen Aisidi 002416.SZ | China | $1.44B | -44% | +26% | 1% | 0.2× | n/a | n/a |
| WPG 3702.TW | Taiwan | $4.78B | -12% | +29% | 2% | 0.3× | n/a | n/a |
| Kyland Technology 300353.SZ | China | $1.42B | -17% | -6% | -6% | 11.8× | n/a | n/a |
| Telling Telecommunication 000829.SZ | China | $1.41B | -21% | +37% | 0% | 0.2× | n/a | n/a |