Hwatsing Technology Co., Ltd. (688120.SS)
Full history for every metric is available with a Kvantra account
No price history available.
Key financial summary
Financials in CNY| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | CNY m | 386 | 805 | 1,649 | 2,508 | 3,406 | 4,648 | 4,095 | 6,033 |
| Operating profit | CNY m | 1,196 | 1,245 | ||||||
| Net profit | CNY m | 98 | 198 | 502 | 724 | 1,023 | 1,084 | 891 | 1,179 |
| EPS reported | CNY | 3.07 | 2.24 | ||||||
| Operating cashflow per share | CNY | 2.27 | 1.12 | ||||||
| Capex per share | CNY | 0.63 | 0.29 | ||||||
| FCF per share | CNY | 1.64 | 0.83 | ||||||
| Free cash flow | CNY m | 578 | 408 | ||||||
| Net debt | CNY m | -612 | -3,774 | ||||||
| Book value equity | CNY m | 1,066 | - | ||||||
| Book value per share | CNY | 3.02 | 17.18 | ||||||
| Number of shares | m | 353 | 493.78 | ||||||
| DPS (TTM paid) | CNY | 0.66 | 0.40 |
Financial summary
Financials in CNY| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 34.92 | 136.57 | ||||||
| P/B LTM | x | 35.38 | 15.20 | ||||||
| P/S LTM | x | 8.11 | 9.21 | ||||||
| P/FCF LTM | x | 65.30 | 92.34 | ||||||
| EV/EBITDA LTM | x | 27.54 | 29.67 | ||||||
| EV/Sales LTM | x | 8.06 | 29.00 | ||||||
| Earnings Yield LTM | % | +2.86% | +0.73% | ||||||
| FCF Yield | % | +1.53% | +1.08% | ||||||
| Quality | |||||||||
| ROE | % | +101.64% | +20.60% | ||||||
| ROIC | % | +88.81% | +11.60% | ||||||
| Operating margin | % | +25.74% | +30.39% | ||||||
| Gross margin | % | +41.81% | +40.82% | ||||||
| FCF/Sales | % | +12.43% | +9.97% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +5.86% | -22.76% | ||||||
| Sales Growth YoY | % | +36.46% | +20.23% | ||||||
| Net Income Growth YoY | % | +5.89% | -12.94% | ||||||
| FCF Growth | % | -30.64% | -50.95% | ||||||
| Operating Profit Growth | % | +7.00% | +11.31% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | +0.37% | +0.16% | ||||||
| Dividend Growth | % | +151.71% | +51.71% | ||||||
| Payout Ratio | % | +12.79% | +15.52% | ||||||
| FCF/Debt | x | 10.22 | 0.63 | ||||||
| Net Debt/EBITDA | x | -0.17 | -1.36 | ||||||
| EBIT/Net interest | x | 136.18 | 218.26 | ||||||
| Net debt/market cap | % | +0.14% | +0.47% | ||||||
| Net debt/Equity | x | -0.57 | - | ||||||
| Gross debt/equity | x | 0.05 | - | ||||||
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
Company overview
Hwatsing Technology Co., Ltd. engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally. The company offers chemical mechanical polishers, implanters, grinders, bevel polishers, dicers, wet process and film metrology equipment, wafer regeneration and reclaim services, and consumables and maintenance services. Its products are mainly used in integrated circuits, advanced packaging, advanced packaging, large silicon wafers, MEMS, micro-LED, and other third-generation semiconductors. The company was founded in 2013 and is headquartered in Tianjin, China.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.

Hwatsing Technology Co., Ltd. (688120.SS)
No price history available.
Based on consensus from external analysts. Not Kvantra's opinion.
Hwatsing Technology Co., Ltd. engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally. The company offers chemical mechanical polishers, implanters, grinders, bevel polishers, dicers, wet process and film metrology equipment, wafer regeneration and reclaim services, and consumables and maintenance services. Its products are mainly used in integrated circuits, advanced packaging, advanced packaging, large silicon wafers, MEMS, micro-LED, and other third-generation semiconductors. The company was founded in 2013 and is headquartered in Tianjin, China.
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