Z 
Zhejiang Haiyan Power System Resources Environmental Technology Co 688565.SS · CNY
Industrials · Shanghai · 🇨🇳 China
8.71
-3.44%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥284.5m
FY2016FY2025
Net income
CN¥9.7m
FY2016FY2025
Free cash flow
CN¥114.4m
FY2016FY2025
Shareholders' equity
CN¥496.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥284.5m | CN¥373.8m | CN¥255.0m | CN¥203.2m | CN¥316.4m | CN¥270.7m | CN¥333.3m | CN¥307.8m | CN¥213.0m | CN¥201.8m |
| Gross profit | CN¥22.3m | CN¥46.1m | CN¥10.1m | CN¥39.2m | CN¥62.7m | CN¥82.4m | CN¥99.0m | CN¥89.0m | CN¥57.4m | CN¥53.7m |
| Research and development | CN¥15.7m | CN¥19.5m | CN¥27.1m | CN¥18.2m | CN¥15.8m | CN¥17.8m | CN¥17.0m | CN¥11.6m | CN¥7.1m | — |
| Operating income | CN¥22.3m | CN¥5.2m | −CN¥99.7m | −CN¥46.8m | CN¥3.8m | CN¥46.5m | CN¥63.2m | CN¥54.4m | CN¥29.0m | CN¥28.1m |
| Net income | CN¥9.7m | CN¥2.5m | −CN¥87.8m | −CN¥36.3m | CN¥13.6m | CN¥44.1m | CN¥52.2m | CN¥47.1m | CN¥25.3m | CN¥25.2m |
| Diluted earnings per share | 0.06 | 0.07 | -0.56 | -0.14 | 0.09 | 0.38 | 0.47 | 0.72 | 0.41 | 0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥894.4m | CN¥910.7m | CN¥1.00bn | CN¥960.6m | CN¥889.3m | CN¥727.7m | CN¥695.6m | CN¥718.3m | CN¥470.1m | CN¥332.8m |
| Cash and short-term investments | — | CN¥125.4m | CN¥97.2m | CN¥101.8m | CN¥133.8m | CN¥59.4m | CN¥42.0m | CN¥35.9m | CN¥83.5m | CN¥25.6m |
| Total liabilities | CN¥397.7m | CN¥422.9m | CN¥510.2m | CN¥379.6m | CN¥255.2m | CN¥309.3m | CN¥316.0m | CN¥381.3m | CN¥195.4m | CN¥121.6m |
| Debt | — | CN¥113.7m | CN¥126.7m | CN¥97.0m | CN¥39.5m | CN¥64.8m | CN¥37.3m | CN¥50.4m | CN¥13.8m | CN¥9.0m |
| Shareholders' equity | CN¥496.7m | CN¥487.8m | CN¥491.7m | CN¥581.0m | CN¥634.0m | CN¥418.4m | CN¥379.6m | CN¥337.1m | CN¥274.7m | CN¥211.2m |
| Shares outstanding | 169m | 36m | 157m | 267m | 146m | 115m | 111m | 66m | 62m | 75m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥116.7m | CN¥56.7m | CN¥7.8m | −CN¥62.1m | −CN¥23.3m | CN¥24.4m | CN¥17.4m | −CN¥6.3m | CN¥15.3m | −CN¥31.2m |
| Capital spending | −CN¥2.3m | −CN¥4.9m | −CN¥7.8m | −CN¥55.9m | −CN¥75.5m | −CN¥23.4m | −CN¥13.1m | −CN¥62.3m | −CN¥14.5m | −CN¥71,669 |
| Free cash flow | CN¥114.4m | CN¥51.9m | CN¥23,129 | −CN¥118.0m | −CN¥98.8m | CN¥969,114 | CN¥4.2m | −CN¥68.6m | CN¥778,106 | −CN¥31.3m |
| Dividends paid | −CN¥2.8m | −CN¥4.2m | −CN¥6.0m | −CN¥22.1m | −CN¥2.2m | −CN¥5.3m | −CN¥11.3m | −CN¥998,300 | −CN¥1.0m | −CN¥609,194 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥63.7m | CN¥42.6m | CN¥62.4m | CN¥87.8m | CN¥84.4m | CN¥49.9m | CN¥197.3m | CN¥70.2m |
| Gross profit | CN¥14.1m | CN¥9.0m | −CN¥19.5m | CN¥15.8m | CN¥16.6m | CN¥9.3m | CN¥31.8m | CN¥9.1m |
| Operating income | CN¥5.0m | CN¥1.8m | CN¥16.8m | CN¥1.8m | CN¥903,835 | CN¥5.2m | CN¥30.1m | −CN¥19.1m |
| Net income | CN¥3.6m | CN¥558,581 | CN¥4.9m | CN¥2.0m | −CN¥90,357 | CN¥2.9m | CN¥27.7m | −CN¥16.2m |
| Diluted earnings per share | 0.02 | 0.00 | 0.03 | 0.01 | -0.00 | 0.02 | 0.77 | -0.45 |
| Cash from operations | — | — | — | CN¥5.0m | CN¥6.0m | CN¥14.0m | — | CN¥7.0m |
| Capital spending | — | — | — | — | — | — | −CN¥1.0m | −CN¥1.0m |
| Free cash flow | — | — | — | — | — | — | — | CN¥6.0m |
| Total assets | CN¥906.3m | CN¥906.3m | CN¥894.4m | CN¥875.8m | CN¥903.9m | CN¥906.8m | CN¥910.7m | CN¥933.8m |
| Cash and short-term investments | — | — | — | CN¥83.7m | CN¥115.9m | CN¥115.4m | CN¥125.4m | CN¥81.5m |
| Debt | — | — | — | CN¥86.5m | CN¥102.8m | CN¥98.7m | CN¥113.7m | CN¥119.7m |
| Shareholders' equity | CN¥496.4m | CN¥497.3m | CN¥496.7m | CN¥492.0m | CN¥490.1m | CN¥490.7m | CN¥487.8m | CN¥466.6m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 7.8% | 12.3% | 4.0% | 19.3% | 19.8% | 30.4% | — |
| Operating margin | 5.5% | 1.4% | -39.1% | -21.8% | 4.8% | 19.6% | — |
| Net margin | 3.4% | 0.7% | -34.4% | -17.9% | 4.3% | 16.3% | — |
| Return on equity | 1.9% | 0.5% | -17.9% | -6.3% | 2.1% | 10.5% | — |
| Return on assets | 1.1% | 0.3% | -8.8% | -3.8% | 1.5% | 6.1% | — |
| Free cash flow yield | 7.9% | 19.3% | 1.1% | -0.3% | 4.0% | 4.7% | — |
| Revenue growth | -23.9% | 46.6% | 25.5% | -35.8% | 16.9% | -18.8% | — |
| Earnings growth | 280.9% | -102.9% | 141.8% | -366.5% | -69.1% | -15.5% | — |
| Current ratio | 1.66x | 1.47x | 1.33x | 1.80x | 2.55x | 1.66x | — |
| Debt to equity | — | 0.23x | 0.26x | 0.17x | 0.07x | 0.15x | 0.10x |
| Equity ratio | 55.5% | 53.6% | 49.1% | 60.5% | 71.3% | 57.5% | — |
| Interest coverage | 5.65x | 1.08x | -14.20x | -18.77x | 5.91x | 16.28x | — |
| R&D as a share of sales | 5.5% | 5.2% | 10.6% | 9.0% | 5.0% | 6.6% | — |
| Buybacks as a share of market value | -372.0% | 77.1% | 41.4% | -82.8% | -27.7% | -3.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.9% | 1.0% | 4.7% |
| Operating income | — | -13.7% | 2.2% |
| Net income | — | -26.2% | -5.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.4% | 10.6% | 15.4% | 20.6% |
| Operating margin | 4.2% | -10.6% | -4.0% | 4.2% |
| Net margin | 1.9% | -10.0% | -3.2% | 3.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 196.1 | 81.5 | -15.1 | -65.2 | 124.2 |
| Price to sales | 6.7 | 0.6 | 5.2 | 11.7 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2022.
| FY2022 | |
|---|---|
| Paid in the year | 0.20 |
- 7-for-5 split · 31 May 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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