Z 
Zhejiang Tuna Environmental Science & Technology Co 603177.SS · CNY
Industrials · Shanghai · 🇨🇳 China
8.73
-1.80%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.07bn
FY2016FY2025
Net income
−CN¥30.4m
FY2016FY2025
Free cash flow
CN¥21.7m
FY2016FY2025
Shareholders' equity
CN¥336.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.07bn | CN¥918.6m | CN¥795.8m | CN¥797.1m | CN¥621.1m | CN¥424.0m | CN¥777.1m | CN¥746.4m | CN¥799.1m | CN¥772.8m |
| Gross profit | CN¥211.2m | CN¥209.7m | CN¥165.5m | CN¥205.5m | CN¥66.7m | CN¥50.6m | CN¥183.9m | CN¥174.7m | CN¥199.8m | CN¥220.2m |
| Research and development | CN¥56.7m | CN¥45.8m | CN¥41.9m | CN¥35.0m | CN¥30.9m | CN¥28.5m | CN¥27.5m | CN¥26.5m | CN¥32.0m | CN¥26.8m |
| Operating income | CN¥48.1m | CN¥49.0m | −CN¥23.8m | CN¥32.0m | −CN¥82.6m | −CN¥113.7m | CN¥16.7m | CN¥22.7m | CN¥49.7m | CN¥69.0m |
| Net income | −CN¥30.4m | CN¥22.9m | −CN¥48.4m | CN¥9.3m | −CN¥80.8m | −CN¥122.3m | CN¥6.2m | CN¥12.9m | CN¥38.3m | CN¥53.8m |
| Diluted earnings per share | -0.14 | 0.10 | -0.25 | 0.08 | -0.35 | -0.65 | 0.02 | 0.04 | 0.16 | 0.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.00bn | CN¥1.83bn | CN¥1.82bn | CN¥1.49bn | CN¥1.38bn | CN¥1.27bn | CN¥1.36bn | CN¥1.35bn | CN¥1.16bn | CN¥1.10bn |
| Cash and short-term investments | — | CN¥204.6m | CN¥175.0m | CN¥184.5m | CN¥123.9m | CN¥92.0m | CN¥178.6m | CN¥205.2m | CN¥186.6m | CN¥155.0m |
| Total liabilities | CN¥1.62bn | CN¥1.43bn | CN¥1.42bn | CN¥1.12bn | CN¥1.05bn | CN¥855.3m | CN¥826.5m | CN¥824.2m | CN¥626.4m | CN¥729.5m |
| Debt | CN¥203.4m | CN¥786.8m | CN¥780.1m | CN¥577.3m | CN¥459.7m | CN¥381.0m | CN¥271.9m | CN¥263.8m | CN¥133.5m | CN¥203.5m |
| Shareholders' equity | CN¥336.3m | CN¥376.8m | CN¥368.9m | CN¥374.0m | CN¥331.9m | CN¥411.9m | CN¥534.3m | CN¥528.6m | CN¥536.0m | CN¥366.1m |
| Shares outstanding | 220m | 226m | 197m | 121m | 231m | 188m | 254m | 296m | 232m | 171m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥50.0m | CN¥105.4m | CN¥73.6m | CN¥3.9m | −CN¥27.5m | −CN¥65.3m | CN¥14.5m | −CN¥36.8m | −CN¥12.6m | CN¥61.5m |
| Capital spending | −CN¥28.2m | −CN¥31.7m | −CN¥105.4m | −CN¥81.7m | −CN¥94.1m | −CN¥107.1m | −CN¥51.7m | −CN¥51.3m | −CN¥10.3m | −CN¥17.9m |
| Free cash flow | CN¥21.7m | CN¥73.7m | −CN¥31.8m | −CN¥77.8m | −CN¥121.6m | −CN¥172.5m | −CN¥37.3m | −CN¥88.1m | −CN¥22.9m | CN¥43.6m |
| Dividends paid | −CN¥35.3m | −CN¥31.4m | −CN¥30.7m | −CN¥27.1m | −CN¥19.3m | −CN¥14.0m | −CN¥13.3m | −CN¥29.9m | −CN¥26.6m | −CN¥10.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥216.9m | CN¥200.3m | CN¥281.1m | CN¥301.0m | CN¥272.2m | CN¥220.1m | CN¥243.4m | CN¥232.7m |
| Gross profit | CN¥31.5m | CN¥42.6m | CN¥42.5m | CN¥53.1m | CN¥58.6m | CN¥57.0m | CN¥50.3m | CN¥45.5m |
| Operating income | −CN¥12.6m | CN¥7.2m | −CN¥3.1m | −CN¥8.7m | CN¥13.3m | CN¥19.8m | −CN¥8.7m | CN¥3.8m |
| Net income | −CN¥22.2m | −CN¥11.6m | −CN¥43.5m | −CN¥4.3m | CN¥6.5m | CN¥11.0m | −CN¥1.4m | CN¥3.8m |
| Diluted earnings per share | -0.10 | -0.05 | -0.20 | -0.02 | 0.03 | 0.05 | -0.01 | 0.02 |
| Cash from operations | — | — | — | CN¥23.0m | −CN¥21.0m | −CN¥49.0m | CN¥58.0m | CN¥11.0m |
| Capital spending | −CN¥3.0m | −CN¥7.0m | −CN¥8.0m | −CN¥4.0m | −CN¥1.0m | −CN¥13.0m | −CN¥6.0m | −CN¥12.0m |
| Free cash flow | — | — | — | CN¥19.0m | −CN¥22.0m | −CN¥62.0m | CN¥52.0m | −CN¥1.0m |
| Total assets | CN¥1.70bn | CN¥1.88bn | CN¥2.00bn | CN¥1.97bn | CN¥1.97bn | CN¥1.87bn | CN¥1.83bn | CN¥1.77bn |
| Cash and short-term investments | — | — | — | CN¥277.7m | CN¥245.8m | CN¥207.2m | CN¥204.6m | CN¥143.9m |
| Debt | CN¥115.4m | CN¥199.9m | CN¥203.4m | CN¥763.5m | CN¥793.4m | CN¥797.2m | CN¥783.4m | CN¥784.8m |
| Shareholders' equity | CN¥299.9m | CN¥322.9m | CN¥336.3m | CN¥380.1m | CN¥386.0m | CN¥388.1m | CN¥376.8m | CN¥377.2m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.7% | 22.8% | 20.8% | 25.8% | 10.7% | 11.9% |
| Operating margin | -0.8% | 6.1% | -2.8% | 4.2% | -9.6% | -26.8% |
| Net margin | -2.8% | 2.5% | -6.1% | 1.2% | -13.0% | -28.8% |
| Return on equity | -9.0% | 6.1% | -13.1% | 2.5% | -24.3% | -29.7% |
| Return on assets | -1.5% | 1.2% | -2.7% | 0.6% | -5.9% | -9.6% |
| Free cash flow yield | 3.8% | 6.4% | 9.6% | 7.5% | 3.0% | 2.3% |
| Revenue growth | 17.0% | 15.4% | -0.2% | 28.3% | 46.5% | -45.4% |
| Earnings growth | -233.1% | -147.2% | -619.6% | -111.5% | -33.9% | -2058.0% |
| Current ratio | 0.91x | 0.94x | 0.94x | 1.05x | 0.92x | 1.08x |
| Debt to equity | 0.60x | 2.08x | 2.09x | 1.53x | 1.51x | 0.93x |
| Equity ratio | 16.8% | 20.5% | 20.3% | 25.0% | 24.1% | 32.5% |
| Interest coverage | -0.28x | 1.63x | -0.70x | 1.15x | -2.63x | -7.45x |
| R&D as a share of sales | 5.3% | 5.0% | 5.3% | 4.4% | 5.0% | 6.7% |
| Buybacks as a share of market value | 2.8% | -14.4% | -63.3% | 47.6% | -22.6% | 25.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.5% | 20.4% | 6.4% |
| Operating income | 14.6% | — | 2.6% |
| Net income | — | -24.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.1% | 22.1% | 19.6% | 22.6% |
| Operating margin | 4.9% | 2.9% | -2.0% | 1.3% |
| Net margin | -0.4% | -1.3% | -5.4% | -1.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -80.3 | 72.7 | -48.2 | 213.5 | -43.0 | -13.8 | 412.1 | 211.8 | 126.1 |
| Price to sales | 2.3 | 1.8 | 2.9 | 2.5 | 5.6 | 4.0 | 3.3 | 3.6 | 6.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Jul 2018.
| FY2018 | FY2017 | |
|---|---|---|
| Paid in the year | 0.10 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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