H 
Hangzhou Honghua Digital Technology Stock Co 688789.SS · CNY
Industrials · Shanghai · 🇨🇳 China
46.38
-1.28%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.31bn
FY2017FY2025
Net income
CN¥528.9m
FY2017FY2025
Free cash flow
−CN¥88.7m
FY2017FY2025
Shareholders' equity
CN¥3.57bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.31bn | CN¥1.79bn | CN¥1.26bn | CN¥894.5m | CN¥943.1m | CN¥715.9m | CN¥591.2m | CN¥472.8m | CN¥282.9m |
| Research and development | CN¥120.5m | CN¥121.4m | CN¥90.1m | CN¥59.5m | CN¥55.6m | CN¥46.5m | CN¥37.9m | CN¥31.4m | CN¥22.9m |
| Operating income | CN¥627.9m | CN¥494.8m | CN¥380.1m | CN¥282.8m | CN¥260.9m | CN¥193.7m | CN¥167.1m | CN¥128.5m | CN¥61.5m |
| Net income | CN¥528.9m | CN¥414.4m | CN¥325.3m | CN¥243.0m | CN¥226.6m | CN¥171.2m | CN¥144.0m | CN¥101.8m | CN¥54.1m |
| Diluted earnings per share | 2.96 | 2.30 | 1.86 | 1.50 | 1.38 | 1.39 | 0.88 | 0.57 | 0.30 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.92bn | CN¥4.31bn | CN¥3.55bn | CN¥2.04bn | CN¥1.83bn | CN¥1.03bn | CN¥725.7m | CN¥553.3m | CN¥429.3m |
| Cash and short-term investments | — | CN¥1.41bn | CN¥1.24bn | CN¥760.1m | CN¥930.8m | CN¥422.4m | CN¥216.3m | CN¥144.4m | CN¥92.6m |
| Total liabilities | CN¥1.26bn | CN¥1.07bn | CN¥646.5m | CN¥328.7m | CN¥334.0m | CN¥272.9m | CN¥153.7m | CN¥133.7m | CN¥114.6m |
| Debt | CN¥243.1m | CN¥492.1m | CN¥118.6m | CN¥12.6m | CN¥61.1m | CN¥30.0m | CN¥8.2m | CN¥10.0m | — |
| Shareholders' equity | CN¥3.57bn | CN¥3.15bn | CN¥2.85bn | CN¥1.69bn | CN¥1.48bn | CN¥743.1m | CN¥571.9m | CN¥419.6m | CN¥314.7m |
| Shares outstanding | 179m | 180m | 175m | 162m | 164m | 123m | 164m | 179m | 179m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥279.6m | CN¥164.4m | CN¥157.2m | CN¥179.3m | CN¥111.4m | CN¥147.9m | CN¥107.7m | CN¥112.6m | CN¥72.8m |
| Capital spending | −CN¥368.3m | −CN¥214.3m | −CN¥403.4m | −CN¥150.8m | −CN¥123.0m | −CN¥59.1m | −CN¥14.4m | −CN¥15.8m | −CN¥4.0m |
| Free cash flow | −CN¥88.7m | −CN¥49.9m | −CN¥246.2m | CN¥28.5m | −CN¥11.6m | CN¥88.8m | CN¥93.3m | CN¥96.8m | CN¥68.8m |
| Dividends paid | −CN¥166.0m | −CN¥98.0m | −CN¥80.0m | −CN¥68.4m | −CN¥2.3m | −CN¥334,641 | — | −CN¥28.8m | −CN¥61.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥522.7m | CN¥368.3m | CN¥675.8m | CN¥594.4m | CN¥559.3m | CN¥478.3m | CN¥525.5m | CN¥448.9m |
| Operating income | CN¥95.3m | CN¥63.8m | CN¥210.2m | CN¥168.7m | CN¥173.0m | CN¥131.0m | CN¥125.5m | CN¥129.3m |
| Net income | CN¥69.6m | CN¥41.6m | CN¥141.1m | CN¥137.2m | CN¥142.2m | CN¥108.3m | CN¥104.4m | CN¥109.8m |
| Diluted earnings per share | 0.39 | 0.23 | 0.79 | 0.77 | 0.80 | 0.61 | 0.58 | 0.61 |
| Cash from operations | — | — | — | CN¥115.0m | CN¥73.0m | CN¥7.0m | — | CN¥44.0m |
| Capital spending | −CN¥54.0m | −CN¥48.0m | −CN¥73.0m | −CN¥127.0m | −CN¥31.0m | −CN¥135.0m | −CN¥65.0m | −CN¥31.0m |
| Free cash flow | — | — | — | −CN¥12.0m | CN¥42.0m | −CN¥128.0m | — | CN¥13.0m |
| Total assets | CN¥5.18bn | CN¥4.81bn | CN¥4.92bn | CN¥4.78bn | CN¥4.54bn | CN¥4.18bn | CN¥4.31bn | CN¥4.01bn |
| Cash and short-term investments | — | — | — | CN¥1.27bn | CN¥1.22bn | CN¥1.18bn | CN¥1.41bn | CN¥1.23bn |
| Debt | CN¥252.0m | CN¥288.3m | CN¥243.1m | CN¥438.6m | CN¥573.9m | CN¥392.5m | CN¥489.7m | CN¥337.9m |
| Shareholders' equity | CN¥3.40bn | CN¥3.62bn | CN¥3.57bn | CN¥3.43bn | CN¥3.32bn | CN¥3.27bn | CN¥3.15bn | CN¥3.03bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 27.2% | 27.6% | 30.2% | 31.6% | 27.7% | 27.1% |
| Net margin | 22.9% | 23.1% | 25.9% | 27.2% | 24.0% | 23.9% |
| Return on equity | 14.8% | 13.2% | 11.4% | 14.4% | 15.3% | 23.0% |
| Return on assets | 10.8% | 9.6% | 9.2% | 11.9% | 12.4% | 16.7% |
| Free cash flow yield | 7.3% | 4.2% | 6.4% | 4.1% | 2.9% | 3.4% |
| Revenue growth | 28.9% | 42.3% | 40.6% | -5.1% | 31.7% | 21.1% |
| Earnings growth | 27.6% | 27.4% | 33.8% | 7.3% | 32.4% | 18.9% |
| Current ratio | 3.21x | 2.88x | 4.09x | 4.47x | 5.67x | 3.46x |
| Debt to equity | 0.07x | 0.16x | 0.04x | 0.01x | 0.03x | 0.04x |
| Equity ratio | 72.7% | 73.0% | 80.1% | 82.5% | 81.1% | 72.4% |
| Interest coverage | 127.67x | 56.88x | 65.90x | 197.75x | 273.15x | 244.86x |
| R&D as a share of sales | 5.2% | 6.8% | 7.2% | 6.6% | 5.9% | 6.5% |
| Buybacks as a share of market value | 0.7% | -2.8% | -7.9% | 0.9% | -32.8% | 24.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 37.2% | 26.4% | 28.8% |
| Operating income | 30.4% | 26.5% | 33.1% |
| Net income | 29.6% | 25.3% | 29.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 27.4% | 28.6% | 28.3% | 27.7% |
| Net margin | 23.0% | 24.2% | 24.1% | 23.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 27.6 | 28.8 | 36.1 | 53.4 | 87.6 |
| Price to sales | 6.3 | 6.7 | 9.3 | 14.5 | 21.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 3 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.60 | 0.90 | 0.70 | 0.604 | 0.417 |
- 1.49-for-1 split · 19 Jul 2024
- 1.45-for-1 split · 2 Jun 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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