Shanghai Re.fine Environment Sci-tech Co. Ltd. Class A

Shanghai Re.fine Environment Sci-tech Co. Ltd. Class A

SSZSE:001396
28.58
CNY
+0.98
(+3.55%)
1.01EPS
34.20P/E
3.79BMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
5.09
6.46
6.67
6.37
7.85
9.07
7.11
7.23
Basic EPS, GAAP
0.3
1.05
1.3
1
1.25
1.58
1.17
1.04
Free Cash Flow per Basic Share
0.41
-0.42
0.24
-1.23
-0.59
-0.54
0.01
- -
Dividend per Share
0.01
0.21
0.03
0.03
0.04
0.07
0.05
0.24
Book Value per Share
2.49
3.77
5.99
7
8.25
9.84
13.37
13.35
Tangible Book Value per Share
2.49
3.74
5.96
6.97
8.23
9.81
13.35
13.34
Basic Weighted Avg Shares
67
71
75
81
80
81
107
107
Sales/Revenue/Turnover
340
458
500
513
630
730
759
773
Operating Margin (%)
11.27
22.99
26.57
23.49
24.23
28.82
27.36
24.34
Depreciation Expense
6
8
19
23
25
24
23
- -
Net Income, GAAP
20
74
98
81
100
127
125
111
Effective Tax Rate (%)
33.26
16.56
14.34
14.1
15.06
12.79
13.71
13.26
Profit Margin (%)
5.89
16.25
19.49
15.7
15.93
17.42
16.47
14.32
Working Capital
150
223
406
475
574
740
1,414
1,483
LT Debt
- -
29
27
21
23
56
105
182
Total Equity
190
288
484
565
664
794
1,432
1,430
Return on Invested Capital (%)
- -
28.32
23.75
15.87
16.73
16.84
10.04
- -
Return on Capital (%)
- -
27.38
22.85
15.46
14.95
14.87
9.9
- -
Return on Common Equity (%)
- -
31.67
25.54
15.46
16.42
17.55
11.27
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
134
125
102
LT Borrowings
91
109
170
LT Finance Leases
14
14
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
107
107
107
Market Capitalization
4,613
4,756
3,786

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,934
1,862
1,876
Cash, Cash Equivalents & STI
594
518
425
Accounts Receivable, Net
571
558
578
Inventories
11
15
16
Total Current Liabilities
519
427
393
Payables & Accruals
- -
- -
- -
ST Debt
134
125
102
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
40.45%
80.33%
Free Cash Flow
- -
-193.87%
-103.16%
Net Income, GAAP
- -
12.66%
-1.74%
Sales/Revenue/Turnover
- -
10.9%
3.98%
Total Cash Common Dividend
- -
9.65%
9.74%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
251
730
2025
107
205
190
258
759
2026
138
187
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.52
1.58
2025
-0.02
0.43
0.41
0.45
1.17
2026
0.02
0.16
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.01
0.07
2025
0.02
0.02
0.01
0.01
0.05
2026
0.01
0.2
- -
- -
- -

Company Description

CEO
Jia Chuan Li
Full Time Employees
1,341
Sector
Non-energy minerals
Industry
Other metals/Minerals
Address
Building 3 Shanghai GD China 200335
IPO Date
Dec 30, 2025
Website
yu-fan.com
Business
Shanghai Re·Fine Environment Sci-tech Ltd. is a high-tech enterprise focused on intelligent diagnosis and health assessment, defect remediation, and operation and maintenance of drainage pipeline networks. The company provides inspection and specialized surveys, rehabilitation, and maintenance services, targeting urban drainage infrastructure and related facilities; it operates as a general contractor in niche segments such as drainage pipeline inspection, trenchless pipeline rehabilitation, and pipeline maintenance. It serves government agencies, public institutions, and state-owned enterprises, and has been recognized for its specialized capabilities as a national-level “Little Giant” SME. Founding year and headquarters - Founded in 2010; headquartered in Shanghai, China. Geographic and market scope - Primary focus on China with project implementations and services delivered across multiple provinces, including major urban centers; engages public sector clients and municipal infrastructure programs. Core products and services - Intelligent diagnosis and health assessment of drainage networks; defect remediation planning and execution; operation and maintenance (O&M) of drainage pipelines; inspection services; specialized surveys for pipeline conditions; rehabilitation solutions for deteriorated pipelines; maintenance services covering routine to emergency interventions; professional construction services related to municipal and urban infrastructure; project supervision, quality inspection, and inspection and testing services; surveying and mapping for pipeline and road infrastructure; engineering design and geological disaster risk assessment as ancillary offerings. Recent major changes and developments - Strategic partnerships and alliances in municipal and infrastructure sectors to expand service breadth in drainage rehabilitation and O&M solutions. - Acquisitions or consolidations aimed at strengthening capabilities in trenchless technology and pipeline rehabilitation. - Introduction of expanded service offerings around intelligent diagnostics, data-driven health assessments, and integrated maintenance platforms for drainage networks. - Reorganization or corporate branding updates to reflect a broader municipal infrastructure portfolio and to align with national SME recognition programs. - Expansion of geographic footprint within China to support larger-scale urban drainage modernization programs and public infrastructure projects. Industry context and subsidiaries - Operates within the municipal infrastructure and environmental engineering segment, with a service mix that combines diagnostic analytics, rehabilitation technologies, and O&M services. - Client base comprises Chinese government agencies, public institutions, and state-owned enterprises; relationships often involve project contracting, supervision, and life-cycle maintenance of drainage systems. - Maintains potential ancillary capabilities in related engineering services, including surveying, design, and geological risk assessment, supporting integrated project delivery. Note: This description reflects publicly available information as of the latest reported developments and company disclosures. Potential nuances in exact product categorization or filing status may vary by regulatory updates and market disclosures.