Baiwang Co., Ltd. Class H

Baiwang Co., Ltd. Class H

HHKEX:6657
11.00
HKD
0.00
(0.00%)
4.52BMarket Cap
Apr 05Next Earn
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.29
2.01
2.33
3.16
3.6
3.23
- -
Basic EPS, GAAP
-1.72
-1.98
-0.68
-1.58
-2.73
-0.04
- -
Free Cash Flow per Basic Share
-0.39
-0.08
-0.3
-0.47
-0.87
-0.77
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
-3.54
-4.81
-5.44
-6.18
4.16
4.15
4.15
Tangible Book Value per Share
-3.55
-4.84
-5.47
-6.21
4.12
4.07
4.07
Basic Weighted Avg Shares
226
226
226
226
183
226
226
Sales/Revenue/Turnover
291
454
526
713
659
729
- -
Operating Margin (%)
-38.23
-41.96
-17.72
-38.4
-24.74
-2.65
- -
Depreciation Expense
17
17
17
18
20
16
- -
Net Income, GAAP
-389
-447
-154
-358
-501
-10
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-133.56
-98.5
-29.2
-50.21
-76.03
-1.32
- -
Working Capital
368
511
-1,545
-1,594
666
602
602
LT Debt
- -
25
7
1
1
2
2
Total Equity
-801
-1,088
-1,233
-1,402
935
931
931
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
-1.03
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
2
15
12
LT Borrowings
- -
- -
- -
LT Finance Leases
1
6
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
226
226
226
Market Capitalization
7,323
8,752
4,060

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
946
902
806
Cash, Cash Equivalents & STI
722
580
476
Accounts Receivable, Net
63
158
181
Inventories
2
2
2
Total Current Liabilities
280
274
204
Payables & Accruals
- -
- -
- -
ST Debt
2
15
12
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-20.84%
-0.39%
Free Cash Flow
- -
59.94%
8.36%
Net Income, GAAP
- -
4.89%
-98.08%
Sales/Revenue/Turnover
- -
22.07%
10.53%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
713
2024
- -
- -
659
2025
- -
- -
729

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-1.58
2024
- -
- -
-2.73
2025
- -
- -
-0.04

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

CEO
Jie Chen
Full Time Employees
754
Sector
Technology services
Industry
Packaged software
Address
Building No. 1 Beijing BE China 100871
IPO Date
Jul 9, 2024
Business
Baiwang Co., Ltd. (6657.HK) provides enterprise digitalization solutions through its Baiwang Cloud platform, primarily offering software-as-a-service (SaaS) products focused on financial and tax compliance, intelligent spend and taxation management, intelligent financial supply chain solutions, data-driven analytics, and artificial intelligence (AI) agents in the People's Republic of China (PRC). Core products and services include Enterprise Intelligent Agents such as Jin Dun transaction management agents for AI-powered invoice compliance and risk monitoring, Rui Jie financial business agents for risk control and marketing, and Wen Shu operational decision-making agents; Financial & Tax Compliance offerings like basic invoice services, e-invoicing compliance management, automated e-invoicing processing, and intelligent e-invoicing insights; Intelligent Spend and Taxation Management encompassing enterprise spend management, intelligent financial management, and intelligent tax management; Intelligent Financial Supply Chain solutions including supplier information management, financial reconciliation and automated settlement, and accounts payable (A/P) automation; and Data-driven Analytics such as precise digital marketing, intelligent risk analysis, and intelligent business analysis. The company targets governments, large enterprise groups, small and medium-sized enterprises (SMEs), and financial institutions, with operations centered in the PRC and expanding globally via its Tax Swift Agent supporting over 100 languages, 200 invoice types, and 30,000 international tax regulations in markets including Malaysia, Singapore, Argentina, Southeast Asia, the Middle East, Africa, and South America. Founded in 2015 and headquartered at Floors 14 and 15, Building 1, Zone 1, 81 Beiqing Road, Haidian District, Beijing, PRC, Baiwang operates in the financial technology (fintech) sector with segments in AI business, cloud financial & tax digitalization solutions, on-premises financial & tax digitalization solutions, and data-driven analytics services. In recent developments, the company listed H Shares on the Stock Exchange of Hong Kong on July 9, 2024, following issuance of 90,842,048 overseas listed foreign shares, resulting in a total share capital of 225,906,754 common shares. During the six months ended June 30, 2025, Baiwang advanced its "AI Agents + Data Intelligence Infrastructure" strategy, launching revenue-generating AI products including Jin Dun and Rui Jie agents that contributed RMB60.9 million in new revenue, while achieving 23.5% overall revenue growth to RMB347.6 million and a gross profit margin expansion to 46.6%. Strategic partnerships expanded across industries, including collaborations with leading domestic shipping enterprises for cross-border document compliance agents, top Chinese electric vehicle manufacturers for multimodal invoicing agents, top-three commercial real estate groups for site selection and risk control solutions, and top-tier fintech institutions plus Big Four accounting firms for tax compliance and inclusive finance AI agents; the company also participated in National Public Data Resource Registration Platform development and provincial data platforms in Fujian and Anhui.