B 
Bethel Automotive Safety Systems Co 603596.SS · CNY
Consumer Discretionary · Shanghai · 🇨🇳 China
27.11
-1.67%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥11.98bn
FY2016FY2025
Net income
CN¥1.31bn
FY2016FY2025
Free cash flow
CN¥185.6m
FY2016FY2025
Shareholders' equity
CN¥7.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥11.98bn | CN¥9.94bn | CN¥7.47bn | CN¥5.54bn | CN¥3.49bn | CN¥3.04bn | CN¥3.16bn | CN¥2.60bn | CN¥2.42bn | CN¥2.21bn |
| Gross profit | CN¥2.28bn | CN¥2.07bn | CN¥1.63bn | CN¥1.24bn | CN¥854.1m | CN¥799.8m | CN¥791.1m | CN¥620.7m | CN¥558.2m | CN¥554.0m |
| Research and development | CN¥583.8m | CN¥575.5m | CN¥449.8m | CN¥378.1m | CN¥239.3m | CN¥174.8m | CN¥127.5m | CN¥101.4m | CN¥81.8m | CN¥72.7m |
| Operating income | CN¥1.38bn | CN¥1.36bn | CN¥1.02bn | CN¥748.1m | CN¥476.4m | CN¥564.6m | CN¥529.3m | CN¥349.0m | CN¥380.5m | CN¥368.1m |
| Net income | CN¥1.31bn | CN¥1.21bn | CN¥891.5m | CN¥698.8m | CN¥504.5m | CN¥461.5m | CN¥401.5m | CN¥237.3m | CN¥277.0m | CN¥272.3m |
| Diluted earnings per share | 2.13 | 1.99 | 2.09 | 1.65 | 1.24 | 1.11 | 0.98 | 0.59 | 0.77 | 0.74 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥17.50bn | CN¥12.79bn | CN¥10.75bn | CN¥8.64bn | CN¥6.25bn | CN¥4.67bn | CN¥4.33bn | CN¥3.59bn | CN¥2.76bn | CN¥2.25bn |
| Cash and short-term investments | CN¥4.69bn | CN¥2.28bn | CN¥2.55bn | CN¥2.69bn | CN¥2.60bn | CN¥1.44bn | CN¥1.19bn | CN¥591.8m | CN¥131.8m | CN¥82.5m |
| Total liabilities | CN¥9.12bn | CN¥5.85bn | CN¥4.69bn | CN¥4.08bn | CN¥2.76bn | CN¥1.73bn | CN¥1.87bn | CN¥1.52bn | CN¥1.54bn | CN¥1.34bn |
| Debt | CN¥5.17bn | CN¥91.2m | CN¥346.0m | CN¥673.4m | CN¥907.9m | CN¥34.4m | CN¥217.9m | CN¥308.4m | CN¥243.8m | CN¥52.3m |
| Shareholders' equity | CN¥7.80bn | CN¥6.56bn | CN¥5.68bn | CN¥4.21bn | CN¥3.50bn | CN¥2.69bn | CN¥2.24bn | CN¥1.91bn | CN¥1.10bn | CN¥816.1m |
| Shares outstanding | 615m | 607m | 427m | 424m | 407m | 415m | 411m | 402m | 362m | 366m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥970.4m | CN¥1.06bn | CN¥678.3m | CN¥784.5m | CN¥433.1m | CN¥584.5m | CN¥757.7m | CN¥369.0m | CN¥61.1m | CN¥148.2m |
| Capital spending | −CN¥784.8m | −CN¥731.7m | −CN¥1.03bn | −CN¥607.8m | −CN¥283.7m | −CN¥176.3m | −CN¥264.0m | −CN¥144.5m | −CN¥189.0m | −CN¥190.1m |
| Free cash flow | CN¥185.6m | CN¥326.0m | −CN¥354.1m | CN¥176.7m | CN¥149.4m | CN¥408.2m | CN¥493.7m | CN¥224.5m | −CN¥127.9m | −CN¥41.9m |
| Dividends paid | −CN¥211.6m | −CN¥157.4m | −CN¥139.6m | −CN¥52.2m | −CN¥48.1m | −CN¥40.7m | −CN¥24.5m | −CN¥37.8m | −CN¥27.7m | −CN¥74.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.60bn | CN¥2.67bn | CN¥3.66bn | CN¥3.19bn | CN¥2.53bn | CN¥2.64bn | CN¥3.36bn | CN¥2.61bn |
| Gross profit | CN¥700.0m | CN¥519.6m | CN¥745.5m | CN¥656.2m | CN¥482.0m | CN¥474.0m | CN¥671.8m | CN¥564.6m |
| Operating income | CN¥421.9m | CN¥297.2m | CN¥493.3m | CN¥375.5m | CN¥300.1m | CN¥306.3m | CN¥496.9m | CN¥335.8m |
| Net income | CN¥372.8m | CN¥268.6m | CN¥417.9m | CN¥369.2m | CN¥252.0m | CN¥270.4m | CN¥430.8m | CN¥320.6m |
| Diluted earnings per share | 0.61 | 0.44 | 0.68 | 0.60 | 0.41 | 0.44 | 0.71 | 0.53 |
| Cash from operations | — | — | — | −CN¥68.0m | CN¥594.0m | CN¥42.0m | CN¥448.0m | CN¥230.0m |
| Capital spending | −CN¥257.0m | −CN¥106.0m | −CN¥243.0m | −CN¥206.0m | −CN¥217.0m | −CN¥117.0m | −CN¥238.0m | −CN¥193.0m |
| Free cash flow | — | — | — | −CN¥274.0m | CN¥377.0m | −CN¥75.0m | CN¥210.0m | CN¥37.0m |
| Total assets | CN¥22.54bn | CN¥17.34bn | CN¥17.28bn | CN¥16.30bn | CN¥13.03bn | CN¥12.74bn | CN¥12.79bn | CN¥11.36bn |
| Cash and short-term investments | — | — | — | CN¥5.10bn | CN¥2.49bn | CN¥2.26bn | CN¥2.28bn | CN¥2.35bn |
| Debt | CN¥3.48bn | CN¥2.65bn | CN¥2.64bn | CN¥2.29bn | CN¥147.6m | CN¥2.27bn | CN¥89.3m | CN¥198.8m |
| Shareholders' equity | CN¥8.42bn | CN¥8.25bn | CN¥8.00bn | CN¥7.54bn | CN¥6.95bn | CN¥6.82bn | CN¥6.56bn | CN¥6.21bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.0% | 20.9% | 21.8% | 22.4% | 24.5% | 26.3% |
| Operating margin | 11.5% | 13.7% | 13.6% | 13.5% | 13.6% | 18.6% |
| Net margin | 10.9% | 12.2% | 11.9% | 12.6% | 14.4% | 15.2% |
| Return on equity | 16.8% | 18.4% | 15.7% | 16.6% | 14.4% | 17.1% |
| Return on assets | 7.5% | 9.5% | 8.3% | 8.1% | 8.1% | 9.9% |
| Free cash flow yield | 9.8% | 10.1% | 13.7% | 11.3% | 6.0% | 6.3% |
| Revenue growth | 20.6% | 33.0% | 34.9% | 58.6% | 14.8% | -3.6% |
| Earnings growth | 8.3% | 35.6% | 27.6% | 38.5% | 9.3% | 14.9% |
| Current ratio | 2.24x | 1.74x | 1.82x | 2.13x | 2.80x | 2.40x |
| Debt to equity | 0.63x | 0.01x | 0.06x | 0.16x | 0.26x | 0.01x |
| Equity ratio | 44.6% | 51.3% | 52.8% | 48.7% | 55.9% | 57.7% |
| Interest coverage | 35.39x | 108.23x | 30.25x | 19.72x | 352.57x | 721.46x |
| R&D as a share of sales | 4.9% | 5.8% | 6.0% | 6.8% | 6.9% | 5.7% |
| Buybacks as a share of market value | -1.3% | -42.1% | -0.7% | -4.3% | 2.0% | -1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 29.3% | 31.6% | 23.3% |
| Operating income | 22.7% | 19.6% | 21.7% |
| Net income | 23.3% | 23.2% | 22.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.8% | 20.7% | 21.4% | 22.0% |
| Operating margin | 12.5% | 12.9% | 13.4% | 13.8% |
| Net margin | 11.5% | 11.8% | 12.2% | 12.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.1 | 22.4 | 23.7 | 34.6 | 40.1 | 22.0 | 16.4 | 27.7 |
| Price to sales | 2.6 | 2.7 | 2.8 | 4.4 | 5.8 | 3.3 | 2.1 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 11 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.257 | 0.236 | 0.164 | 0.164 | 0.062 | 0.057 | 0.048 | 0.029 |
- 7-for-5 split · 20 May 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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