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    Electronic technology

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    Semiconductors
Hengbao Co., Ltd. Class A

Hengbao Co., Ltd. Class A

SSZSE:002104
9.95
CNY
+0.31
(+3.22%)
7.30BMarket 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
1.76
2.18
2.6
1.89
1.69
1.34
1.62
1.53
1.38
1.48
1.8
1.28
1.23
- -
Basic EPS, GAAP
0.28
0.41
0.53
0.21
0.23
0.21
0.12
- -
0.08
0.12
0.22
0.14
0.08
- -
Free Cash Flow per Basic Share
0.09
0.56
0.2
0.35
0.15
0.27
0.06
0.5
0.05
-0.28
0.21
0.26
0.2
- -
Dividend per Share
0.07
0.09
0.1
0.1
- -
0.01
- -
- -
0.22
- -
- -
0.13
0.08
- -
Book Value per Share
1.37
1.7
2.18
2.29
2.52
2.66
2.77
2.77
2.65
2.79
3.03
3.04
3.05
2.97
Tangible Book Value per Share
1.33
1.66
1.96
1.95
2.2
2.38
2.51
2.69
2.59
2.74
2.98
3
3.02
2.94
Basic Weighted Avg Shares
717
713
700
714
713
710
701
690
697
698
701
703
707
708
Sales/Revenue/Turnover
1,261
1,551
1,821
1,353
1,208
947
1,136
1,052
960
1,034
1,262
903
866
- -
Operating Margin (%)
16.19
16.01
18.26
9.07
8.86
1.16
3.69
4.9
1.88
8.17
13.4
6.96
4.16
- -
Depreciation Expense
31
36
40
58
59
56
49
45
36
34
33
32
31
- -
Net Income, GAAP
201
292
371
146
163
145
87
2
53
82
158
95
59
- -
Effective Tax Rate (%)
13.82
6.06
9.39
0.28
8.08
6.55
4.48
- -
10.3
0.94
10.28
6.15
17.49
- -
Profit Margin (%)
15.92
18.84
20.37
10.82
13.47
15.36
7.64
0.16
5.53
7.92
12.48
10.52
6.78
- -
Working Capital
545
807
984
984
1,138
1,368
1,409
1,428
1,273
1,518
1,648
1,678
1,483
1,486
LT Debt
- -
- -
- -
- -
- -
- -
- -
45
23
37
1
2
7
6
Total Equity
965
1,209
1,568
1,721
1,881
1,983
2,017
1,990
1,844
1,956
2,123
2,149
2,160
2,104
Return on Invested Capital (%)
20.96
22.96
22.9
7.92
6.31
7.54
4.36
- -
2.69
4.19
7.79
4.43
2.84
- -
Return on Capital (%)
23.04
26.92
26.52
9.1
8.94
7.64
4.33
- -
2.8
4.31
7.61
4.5
2.73
- -
Return on Common Equity (%)
22.64
26.88
26.82
9.17
9.48
7.89
4.54
0.09
2.81
4.31
7.73
4.45
2.73
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3
3
3
LT Borrowings
- -
- -
- -
LT Finance Leases
7
7
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
708
708
708
Market Capitalization
15,307
10,916
7,303

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,697
1,653
1,680
Cash, Cash Equivalents & STI
1,297
1,204
1,109
Accounts Receivable, Net
127
138
174
Inventories
174
209
221
Total Current Liabilities
214
197
194
Payables & Accruals
- -
- -
- -
ST Debt
3
3
3
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.38%
1.8%
0.5%
Free Cash Flow
-9.38%
-175.08%
-20.42%
Net Income, GAAP
284.88%
609.42%
-38.18%
Sales/Revenue/Turnover
-5.69%
-2.29%
-4.02%
Total Cash Common Dividend
- -
9,479.98%
-39.01%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
237
234
211
221
903
2025
248
183
- -
252
866
2026
126
163
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.05
0.04
0.01
0.14
2025
0.03
0.02
- -
0.03
0.08
2026
-0.03
-0.04
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.13
- -
0.13
2025
- -
0.08
- -
- -
0.08
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jing Qian
Full Time Employees
978
Sector
Electronic technology
Industry
Semiconductors
Address
hengtang industrial zone Danyang JS China 212355
IPO Date
Jan 10, 2007
Website
hengbao.com
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Business
Hengbao Co., Ltd. is a China-based technology company specializing in financial technology, digital security, and Internet of Things (IoT) solutions. The company manufactures and provides a range of core products and services including card payment and security services; blockchain finance platforms; digital asset wallets; supply chain financial platforms; mobile communications solutions such as SIM, eSIM, and M2M cards; smart password keys; electronic tokens; Bluetooth USBKEY devices; mobile smart terminals; mobile phone shielding products; and tax security products like tax control disks, transmission disks, tax control Ukeys, and PSAM cards. Additional offerings include Bluetooth secure reading and writing terminals, mPOS and mobile POS devices, face recognition payment terminals, and cloud-based mobile payment platforms. Hengbao serves diverse industries including banking, telecommunications, government public services, transportation, automotive, and composite materials with operations extending across more than 30 countries and regions globally, including the Asia-Pacific, Middle East, and Africa. Founded in 1992 and headquartered in Danyang, China, the company is listed on the Shenzhen Stock Exchange under the ticker 002104.SZ. In recent developments, Hengbao has focused on strategic business restructuring to concentrate resources on high-margin, high-tech projects and core business units with substantial growth potential. The company completed an acquisition of a 51% stake in a related entity, expanding its operational capacity. Hengbao also launched new product lines and adjusted pricing strategies in 2025 to align with market demands. Despite challenges such as a year-on-year decrease in net profit for the first three quarters of 2025, Hengbao continues to invest significantly in research and development to sustain innovation and market leadership. The company reported ongoing collaboration with major institutional investors, reflecting strong market interest and support for its strategic direction. Hengbao maintains partnerships with over 800 medium and large operators, financial institutions, and government customers across China and internationally, reinforcing its position as a leading provider in digital security and financial technology solutions.