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Shandong Cvicse Middleware Co., Ltd. Class A

Shandong Cvicse Middleware Co., Ltd. Class A

SSSE:688695
18.25
CNY
-0.33
(-1.78%)
1.59BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.2
1.38
1.6
1.74
1.89
2.29
1.23
1.45
2.13
2.16
2.83
2.46
1.77
- -
Basic EPS, GAAP
0.22
0.1
0.22
0.24
0.24
0.36
0.48
0.76
0.86
0.69
1.05
0.49
-0.33
- -
Free Cash Flow per Basic Share
-0.31
-0.06
0.49
-0.11
-0.33
0.16
0.5
0.41
0.39
-0.26
0.05
-0.99
-0.6
- -
Dividend per Share
0.06
0.05
0.05
0.05
0.05
0.05
0.05
0.05
0.05
- -
- -
0.26
0.14
- -
Book Value per Share
2.17
2.27
2.44
2.7
2.89
3.2
1.11
1.82
4.43
5.12
6.17
9.54
9.07
8.84
Tangible Book Value per Share
1.16
1.46
1.67
1.89
1.99
2.29
1.1
1.79
4.38
5.02
6.03
9.34
8.82
8.58
Basic Weighted Avg Shares
56
58
55
55
57
56
56
56
56
64
63
79
84
85
Sales/Revenue/Turnover
67
80
88
96
108
129
69
82
120
137
180
194
149
- -
Operating Margin (%)
7.39
-8.62
2.27
5.79
17.32
21.85
40.86
56.34
45.51
37.61
45.3
28.07
-1.29
- -
Depreciation Expense
13
21
23
24
26
28
2
2
6
8
11
13
24
- -
Net Income, GAAP
12
6
12
13
14
20
27
43
48
44
67
39
-28
- -
Effective Tax Rate (%)
17.81
16.4
15.57
6.17
7.33
5.36
6.15
7.38
7.79
7.14
6.84
5.52
- -
- -
Profit Margin (%)
18.41
7.27
13.75
13.8
12.68
15.71
39.12
52.24
40.29
31.91
37.05
19.93
-18.63
- -
Working Capital
55
71
79
86
93
114
58
97
274
304
368
730
675
646
LT Debt
- -
- -
- -
- -
- -
- -
- -
17
13
11
7
3
3
5
Total Equity
122
128
137
152
162
180
62
102
283
327
394
811
772
752
Return on Invested Capital (%)
1.02
-4.69
0.73
1.81
8.37
11.14
21.05
45.4
22.67
13.63
17.86
6.46
- -
- -
Return on Capital (%)
10.08
4.48
9.15
9.17
8.75
11.74
21.84
46.07
23.35
13.93
18.01
6.41
- -
- -
Return on Common Equity (%)
10.51
4.66
9.15
9.17
8.75
11.87
22.28
51.88
25.15
14.39
18.5
6.43
-3.5
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
5
7
7
LT Borrowings
- -
- -
- -
LT Finance Leases
3
5
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
85
85
85
Market Capitalization
2,333
2,062
1,590

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
719
696
679
Cash, Cash Equivalents & STI
421
390
402
Accounts Receivable, Net
262
271
249
Inventories
5
6
9
Total Current Liabilities
45
39
33
Payables & Accruals
- -
- -
- -
ST Debt
5
7
7
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
34.06%
62.66%
-4.88%
Free Cash Flow
-287.37%
-604.72%
-35.42%
Net Income, GAAP
-0.53%
-31.51%
-171.46%
Sales/Revenue/Turnover
8.97%
15.3%
-23.53%
Total Cash Common Dividend
- -
- -
-41.64%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
29
32
38
96
194
2025
32
28
- -
58
149
2026
28
22
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
- -
0.09
0.34
0.49
2025
-0.02
-0.07
- -
-0.1
-0.33
2026
-0.12
-0.11
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.26
2025
- -
- -
- -
- -
0.14
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Long Lin Gao
Full Time Employees
391
Sector
Technology services
Industry
Packaged software
Address
Jinan China
IPO Date
Mar 13, 2024
Website
inforbus.com
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Business
Shandong Cvicse Middleware Co., Ltd. is a China-based foundational software vendor primarily engaged in the research, development, commercialization, and technical support of enterprise middleware and intelligent platform software. Founded in 2002 and headquartered in Jinan, Shandong Province, China, the company provides mission-critical infrastructure software and technical services across domestic markets to enterprise and government clients in sectors including public administration, national defense, financial services, telecommunications, energy, and transportation. The company develops and markets a comprehensive portfolio of middleware solutions, primarily under its proprietary InforSuite brand, comprising application server middleware (InforSuite AS) certified under Jakarta EE and Java EE specifications; messaging middleware (InforSuite MQ) for distributed and reliable asynchronous messaging; high-availability load balancing software (InforSuite LB); distributed in-memory data caching systems (InforSuite RDS); enterprise service buses (InforSuite ESB); workflow engines (InforSuite Flow); application integration platform as a service (InforSuite iPaaS); enterprise API gateways; and unified middleware management platforms. Alongside its core middleware, the company delivers big data governance platforms, cloud-native containerized middleware, migration and localization compatibility services for domestic information technology application innovation (ITAI), active-active disaster recovery architectures, and customized software development and maintenance services. In recent major developments, Shandong Cvicse Middleware completed its initial public offering on the Shanghai Stock Exchange STAR Market under the ticker 688695 in March 2024. The company has since expanded its strategic focus into artificial intelligence infrastructure, launching new solutions including the Cvicse Yuanqiong enterprise intelligence platform, specialized AI gateway software, and intelligent agent management systems. Additionally, the company has restructured specialized classified system integration certifications to its wholly owned security subsidiaries, formed strategic commercial alliances with domestic telecommunications service providers and industrial enterprises, and diversified its institutional investor base to strengthen its position in enterprise software localization.