H 
Henan Carve Electronics Technology Co 301182.SZ · CNY
Information Technology · Shenzhen · 🇨🇳 China
46.27
+1.20%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥762.4m
FY2017FY2025
Net income
−CN¥116.2m
FY2017FY2025
Free cash flow
−CN¥62.2m
FY2017FY2025
Shareholders' equity
CN¥696.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥762.4m | CN¥596.1m | CN¥546.3m | CN¥504.6m | CN¥615.5m | CN¥437.6m | CN¥443.2m | CN¥364.5m | CN¥364.0m |
| Research and development | CN¥45.4m | CN¥36.5m | CN¥38.4m | CN¥29.6m | CN¥21.9m | CN¥18.1m | CN¥15.9m | CN¥12.3m | CN¥11.4m |
| Operating income | −CN¥88.6m | −CN¥120.4m | −CN¥75.6m | CN¥28.4m | CN¥62.3m | CN¥48.0m | CN¥54.5m | CN¥20.6m | CN¥34.7m |
| Net income | −CN¥116.2m | −CN¥93.5m | −CN¥56.8m | CN¥32.3m | CN¥54.7m | CN¥40.7m | CN¥47.2m | CN¥17.0m | CN¥30.0m |
| Diluted earnings per share | -1.21 | -0.99 | -0.58 | 0.35 | 0.76 | 0.57 | 0.49 | 0.18 | 0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.75bn | CN¥1.81bn | CN¥1.34bn | CN¥1.16bn | CN¥1.31bn | CN¥605.6m | CN¥526.9m | CN¥475.2m | CN¥447.8m |
| Cash and short-term investments | — | CN¥160.6m | CN¥140.1m | CN¥191.7m | CN¥685.7m | CN¥42.1m | CN¥56.9m | CN¥56.6m | CN¥51.8m |
| Total liabilities | CN¥1.03bn | CN¥981.3m | CN¥412.5m | CN¥180.9m | CN¥340.0m | CN¥269.1m | CN¥223.9m | CN¥253.6m | CN¥278.2m |
| Debt | — | CN¥179.1m | CN¥24.2m | CN¥11.2m | CN¥80.6m | CN¥65.6m | CN¥4.3m | CN¥35.0m | CN¥78.2m |
| Shareholders' equity | CN¥696.7m | CN¥813.0m | CN¥908.8m | CN¥975.1m | CN¥971.5m | CN¥336.5m | CN¥303.0m | CN¥221.6m | CN¥169.6m |
| Shares outstanding | 96m | 94m | 98m | 92m | 72m | 72m | 96m | 96m | 96m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥34.3m | −CN¥65.1m | −CN¥13.0m | CN¥5.5m | CN¥44.8m | −CN¥13.0m | CN¥20.7m | CN¥25.8m | CN¥32.5m |
| Capital spending | −CN¥27.9m | −CN¥91.4m | −CN¥137.4m | −CN¥117.3m | −CN¥50.6m | −CN¥37.2m | −CN¥22.5m | −CN¥18.3m | −CN¥25.5m |
| Free cash flow | −CN¥62.2m | −CN¥156.5m | −CN¥150.4m | −CN¥111.8m | −CN¥5.8m | −CN¥50.2m | −CN¥1.8m | CN¥7.4m | CN¥6.9m |
| Dividends paid | −CN¥5.7m | −CN¥3.1m | −CN¥9.8m | −CN¥28.7m | −CN¥2.3m | −CN¥7.2m | −CN¥9.9m | −CN¥4.2m | −CN¥6.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥269.2m | CN¥211.3m | CN¥247.7m | CN¥195.1m | CN¥187.1m | CN¥132.5m | CN¥158.2m | CN¥149.1m |
| Operating income | −CN¥11.9m | −CN¥30.8m | −CN¥29.5m | −CN¥22.0m | CN¥3.9m | −CN¥47.8m | −CN¥65.2m | −CN¥31.1m |
| Net income | −CN¥37.6m | −CN¥35.8m | −CN¥65.5m | −CN¥14.5m | CN¥2.3m | −CN¥38.5m | −CN¥55.0m | −CN¥17.6m |
| Diluted earnings per share | -0.39 | -0.37 | -0.68 | -0.15 | 0.02 | -0.40 | -0.59 | -0.19 |
| Cash from operations | — | — | — | −CN¥45.0m | −CN¥90.0m | CN¥46.0m | −CN¥40.0m | −CN¥26.0m |
| Capital spending | −CN¥54.0m | −CN¥15.0m | −CN¥15.0m | −CN¥1.0m | −CN¥5.0m | −CN¥5.0m | −CN¥22.0m | −CN¥14.0m |
| Free cash flow | — | — | — | −CN¥46.0m | −CN¥95.0m | CN¥41.0m | −CN¥62.0m | −CN¥40.0m |
| Total assets | CN¥1.72bn | CN¥1.77bn | CN¥1.75bn | CN¥1.80bn | CN¥1.82bn | CN¥1.85bn | CN¥1.81bn | CN¥1.88bn |
| Cash and short-term investments | — | — | — | CN¥58.1m | CN¥99.0m | CN¥113.7m | CN¥71.3m | CN¥139.4m |
| Debt | CN¥38.4m | — | — | CN¥350.2m | CN¥233.1m | CN¥155.1m | CN¥139.2m | CN¥135.9m |
| Shareholders' equity | CN¥622.7m | CN¥662.9m | CN¥696.7m | CN¥762.9m | CN¥776.8m | CN¥774.6m | CN¥813.0m | CN¥869.5m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -16.5% | -18.9% | -13.3% | 6.0% | 11.1% | 11.5% | — | — | — |
| Net margin | -15.2% | -15.7% | -10.4% | 6.4% | 8.9% | 9.3% | — | — | — |
| Return on equity | -16.7% | -11.5% | -6.3% | 3.3% | 5.6% | 12.1% | — | — | — |
| Return on assets | -6.6% | -5.2% | -4.2% | 2.8% | 4.2% | 6.7% | — | — | — |
| Free cash flow yield | -0.1% | 0.6% | 2.8% | 2.9% | 2.9% | 0.7% | — | — | — |
| Revenue growth | 27.9% | 9.1% | 8.3% | -18.0% | 40.7% | -1.3% | — | — | — |
| Earnings growth | 24.4% | 64.5% | -276.2% | -41.0% | 34.3% | -13.8% | — | — | — |
| Current ratio | 1.14x | 1.26x | 2.11x | 5.29x | 3.31x | 1.65x | — | — | — |
| Debt to equity | — | 0.17x | — | — | 0.04x | 0.19x | 0.01x | 0.14x | 0.43x |
| Equity ratio | 39.7% | 45.0% | 68.0% | 84.3% | 74.1% | 55.6% | — | — | — |
| Interest coverage | -12.51x | -16.63x | -27.71x | 15.76x | 10.43x | 9.67x | — | — | — |
| R&D as a share of sales | 6.0% | 6.1% | 7.0% | 5.9% | 3.6% | 4.1% | — | — | — |
| Buybacks as a share of market value | -2.0% | 3.9% | -6.2% | -27.6% | -0.4% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.8% | 11.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -35.1 | -35.0 | -40.2 | 53.7 | 47.0 |
| Price to sales | 5.4 | 5.5 | 4.2 | 3.4 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jun 2023.
| FY2023 | FY2022 | |
|---|---|---|
| Paid in the year | 0.10 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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