Tatwah Smartech Co., Ltd. Class A

Tatwah Smartech Co., Ltd. Class A

SSZSE:002512
3.54
CNY
+0.06
(+1.72%)
-0.08EPS
3.43BMarket 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
0.69
0.89
1.58
3.2
3.16
2.63
2.09
1.93
2.05
1.59
1.8
1.77
1.69
1.93
Basic EPS, GAAP
0.11
0.11
0.15
0.15
0.16
-1.59
0.05
0.02
-0.48
-0.3
-0.33
0.02
-0.18
-0.07
Free Cash Flow per Basic Share
-0.36
-0.11
-0.37
0.02
-0.47
- -
0.09
-0.27
-0.56
-0.18
-0.64
-0.22
-0.03
- -
Dividend per Share
0.01
0.01
0.08
0.08
0.17
0.16
0.12
0.11
0.06
0.01
0.04
0.04
0.02
0.02
Book Value per Share
1.59
1.59
2.65
2.55
2.67
1.14
1.2
1.17
0.69
0.65
0.34
0.36
0.26
0.29
Tangible Book Value per Share
1.09
1.05
1.59
1.55
1.03
0.3
0.44
0.39
-0.07
-0.15
-0.24
-0.14
-0.21
-0.17
Basic Weighted Avg Shares
804
886
886
1,095
1,095
1,095
1,095
1,093
1,095
1,095
1,095
1,093
1,096
1,095
Sales/Revenue/Turnover
556
790
1,396
3,501
3,457
2,881
2,284
2,115
2,241
1,742
1,967
1,932
1,849
2,116
Operating Margin (%)
20.07
20.4
11.89
5.9
4.73
-6.04
-5.18
-5.08
-6.32
-5.26
-4.13
-3.02
-0.8
1.92
Depreciation Expense
35
41
57
66
107
121
103
60
69
70
118
102
71
- -
Net Income, GAAP
88
102
129
159
171
-1,742
50
20
-521
-333
-356
24
-202
-80
Effective Tax Rate (%)
14.94
14.91
13.28
17.46
- -
- -
29.83
6.95
- -
- -
- -
- -
- -
- -
Profit Margin (%)
15.78
12.89
9.23
4.54
4.95
-60.46
2.17
0.95
-23.25
-19.1
-18.12
1.25
-10.92
-3.78
Working Capital
539
277
476
-375
-789
-1,812
-1,318
-565
-853
-1,062
-774
-1,036
-981
-1,009
LT Debt
- -
- -
92
169
724
534
13
19
330
719
690
272
252
13
Total Equity
1,721
1,646
2,849
2,996
3,140
1,356
1,327
1,357
1,339
1,461
1,069
439
319
348
Return on Invested Capital (%)
6.03
6.03
4.04
3.06
- -
- -
1.61
0.71
- -
- -
- -
- -
- -
- -
Return on Capital (%)
4.72
4.17
4.59
5.11
- -
- -
5.19
5.41
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
7.43
7.22
6.35
5.85
5.99
-83.42
3.87
1.52
-48.84
-43.33
-63.24
6.05
-57.45
-20.27

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
136
257
391
LT Borrowings
245
98
- -
LT Finance Leases
7
17
13
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,112
1,112
1,102
Market Capitalization
6,931
4,439
3,429

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
725
813
835
Cash, Cash Equivalents & STI
91
96
71
Accounts Receivable, Net
200
209
203
Inventories
240
378
360
Total Current Liabilities
1,706
1,750
1,843
Payables & Accruals
- -
- -
- -
ST Debt
136
257
391
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-15.21%
-21.08%
-27.4%
Free Cash Flow
-442.98%
27.17%
-86.24%
Net Income, GAAP
-501.02%
-752.34%
-935.17%
Sales/Revenue/Turnover
9.53%
-1.9%
-4.33%
Total Cash Common Dividend
11.4%
4.45%
-60.61%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
401
487
568
476
1,932
2025
312
449
- -
518
1,849
2026
479
670
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.05
- -
-0.03
0.02
2025
-0.04
-0.01
- -
-0.09
-0.18
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.01
0.01
- -
0.04
2025
- -
- -
- -
- -
0.02
2026
0.01
0.01
- -
- -
- -

Company Description

CEO
Gao Li Zhang
Full Time Employees
1,263
Sector
Electronic technology
Industry
Telecommunications equipment
Address
No. 89, Software Avenue Fuzhou FU China 350003
IPO Date
Nov 19, 2010
Website
twh.com.cn
Business
Tatwah Smartech Co.,Ltd is a China-based technology company specializing in communication networks, digital screens, and digital application services. The company offers a broad portfolio including satellite communication and internet operation services; communication terminal products such as portable satellite antennas, wireless self-organizing network products, vehicle-mounted and ship-mounted on-the-move communication devices; and digital display products comprising LCD electronic whiteboards, single-screen displays, splicing units, commercial TVs, digital signage, and e-sports displays. Its digital application services target sectors like government affairs, emergency services, ocean monitoring, parks, agriculture and rural areas, and industrial uses. Founded in 2006 and headquartered in Jiangxi, China, Tatwah Smartech operates both domestically and internationally, including expansions into Southeast Asia and Europe. Recent major corporate developments include the strategic transfer in 2024 of its wholly-owned subsidiary Peking Huitong Jiufang Technology Co., Ltd and associated debts to Zhongchuang Yongqiang Technology Co., Ltd as part of its global strategic resource integration and operation enhancement. The company reported a significant funding round in 2025, receiving over 760 million yuan to support ongoing growth and innovation initiatives. Tatwah Smartech has also increased its R&D investment, allocating around 300 million yuan in recent years to develop new products and smart city solutions, exemplifying its commitment to innovation and expansion in smart manufacturing and IoT sectors. The company is actively pursuing partnerships with AI and telecommunications firms to enhance its technology offerings and accelerate international market penetration. Tatwah Smartech serves multiple industries including commercial, security, education, industrial, e-sports, and new retail markets with a comprehensive product suite designed to support smart city infrastructure and digital transformation. It has established itself as a prominent player with a horizontally integrated manufacturing process covering wafer processing, antenna technology, bonding, laminating, assembly, and testing, enabling control over production quality and innovation. The company employs over 1,500 R&D professionals and maintains production facilities primarily in Jiangsu and Guangdong provinces in China with a production capacity exceeding 10 million devices annually. Financially, Tatwah Smartech reported revenues of approximately 1.93 billion yuan in 2024 with ongoing efforts to improve profitability despite some recent revenue and net income fluctuations. The firm’s gross margin stands around 11%, supported by a diversified product mix and service offerings. Operationally, it aims to leverage its smart technology expertise to reduce urban energy consumption and operating costs, reflecting its strategic focus on sustainability and technology-driven urban solutions. Overall, Tatwah Smartech Co.,Ltd combines advanced communications and digital display technologies with extensive R&D and manufacturing capabilities, continuing to expand its footprint through strategic corporate restructuring, funding, and international partnerships while focusing on innovation, smart city development, and diversified digital applications.