Shenzhen Tellus Holding Co., Ltd. (000025.SZ) Bundle
Founded in 1986 and rebranded in March 1993, Shenzhen Tellus Holding Co., Ltd. has transformed from machinery manufacturing into a diversified group spanning property leasing, jewelry and vehicle sales, with historical revenue of about CNY 386 million in 2010 and a leap to CNY 2.61 billion in 2024, a year-on-year growth of 41.53% that helped drive net income to CNY 136.63 million (a 15.54% rise) and underpin a market capitalization of CNY 7.11 billion as of December 12, 2025; listed as 000025.SZ with 431.06 million shares outstanding, Tellus - historically majority-owned by Shenzhen Special Economic Zone Development Group - leverages a diversified revenue mix (leasing, jewelry retail and wholesale, vehicle sales and services, customs and refining services), a manufacturing base of over 50,000 m² with ~CNY 200 million in equipment, approximately 1,500 employees, R&D spending of over 8% of revenue, and a conservative balance sheet (total debt CNY 196.6 million vs. cash and equivalents CNY 378 million) while pursuing ESG and AI initiatives and active social-responsibility programs such as CNY 62,890 in poverty-alleviation purchases in H1 2025 to sustain its competitive trajectory
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): Intro
History- Founded in 1986 with an initial focus on machinery manufacturing and electronic appliances.
- March 1993: rebranded from Shenzhen Tellus Machinery Holding Company Limited to Shenzhen Tellus Holding Co., Ltd., reflecting diversification.
- 1990s-2000s: expanded into property leasing, jewelry operations and vehicle sales to adapt to shifting market demands.
- 2010: reported revenue of approximately CNY 386 million and net income of CNY 3.58 million, showing steady early-stage growth.
- 2010s-2020s: gradual business portfolio reshaping toward higher-margin segments and asset-light operations.
- Transition from heavy manufacturing to mixed operations including leasing and retail (jewelry, automobiles).
- Listed on Shenzhen Stock Exchange (stock code: 000025.SZ), increasing access to capital markets and institutional investors.
- Scaled revenue materially by the early 2020s through expanded services and monetization of real-estate and retail assets.
| Year | Revenue (CNY) | Net Income (CNY) | Revenue YoY | Net Income YoY |
|---|---|---|---|---|
| 2010 | 386,000,000 | 3,580,000 | - | - |
| 2023 (est.) | 1,844,000,000 | 118,320,000 | - | - |
| 2024 | 2,610,000,000 | 136,630,000 | +41.53% | +15.54% |
- Publicly listed on Shenzhen Stock Exchange (000025.SZ); shareholder mix comprises institutional investors, retail investors and corporate/management holdings.
- Corporate filings and disclosures remain primary sources for up-to-date major-holder details (top-10 shareholders, related-party holdings, pledge status).
- Mission: leverage diversified asset base (real estate, retail, automotive and legacy manufacturing) to deliver stable cash flow and sustainable shareholder returns.
- Strategy: optimize asset portfolio toward higher-margin services, monetize property leasing, expand jewelry/vehicle retail channels, and control cost in manufacturing remnants.
- Competitive edge: long operational history in Shenzhen, established distribution/retail channels for jewelry and vehicles, and a listed-platform balance-sheet for capital allocation.
- Property leasing: recurring rental income from owned commercial/residential assets; contributes stable, lower-volatility cash flow.
- Jewelry operations: retail sales and wholesale of jewelry products-drives gross-margin uplift when retail volumes expand.
- Vehicle sales: dealerships and vehicle trading-volume-sensitive revenue with inventory and financing considerations.
- Legacy manufacturing/electronics: smaller contribution in recent years, used strategically for vertical integration or asset divestment.
- Revenue growth: driven by expansion in retail (jewelry, vehicles) and higher occupancy/rents in leased properties (2024 revenue +41.53% vs 2023).
- Margin expansion: achieved via scale in retail channels and improved asset utilization in leasing; net income rose 15.54% in 2024 to CNY 136.63 million.
- Capital structure: listed equity enables equity financing; balance-sheet asset sales or lease monetization can fund growth or shareholder returns.
- Market capitalization (as of December 12, 2025): CNY 7.11 billion.
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): History
Shenzhen Tellus Holding Co., Ltd. (000025.SZ) is a Shenzhen Stock Exchange-listed industrial and investment holding company with roots in Shenzhen's economic development efforts. Key historical and ownership milestones:- Shares outstanding (as of 12 Dec 2025): 431.06 million.
- Exchange/ticker: Shenzhen Stock Exchange, 000025.SZ.
- Early-benchmark assets: total assets ≈ CNY 599.56 million in 2010.
- Major historic owner: Shenzhen Special Economic Zone Development Group Co., Ltd. - 66.22% stake in 2009.
- Governance update: Guo Xiaodong resigned as Chairman of the Board of Supervisors in January 2025 (retirement).
| Metric | Value |
|---|---|
| Shares outstanding (12‑Dec‑2025) | 431.06 million |
| Listing | Shenzhen Stock Exchange (000025.SZ) |
| Total assets (2010) | CNY 599.56 million |
| Largest historical shareholder (2009) | Shenzhen Special Economic Zone Development Group Co., Ltd. - 66.22% |
| Latest board personnel (key posts) | Tianyang Huang (CFO & Director); Peng Qi (Secretary & Deputy GM); Jing Xie (Deputy GM) |
- Controlling interest historically concentrated: state-linked Shenzhen Special Economic Zone Development Group held two‑thirds of equity in 2009, implying centralized decision control and alignment with regional development strategies.
- Public float represented by remaining shares (implied by total outstanding minus controlling stake), supporting secondary-market liquidity for 000025.SZ.
- Mission: to manage and grow industrial and investment assets in Shenzhen and surrounding regions, leveraging state-backed strategic positioning.
- Business model: asset- and investment-holding structure that generates revenues from subsidiary operations, dividends, asset disposals, rental income, and investment returns.
- Value drivers: asset acquisitions, operational turnarounds of subsidiaries, dividends from investments, and capital gains from restructuring or disposal of non-core assets.
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): Ownership Structure
Shenzhen Tellus Holding Co., Ltd. (000025.SZ) centers its mission on diversified service delivery across property leasing, jewelry operations, and vehicle sales, emphasizing innovation, quality and customer-centricity. The company integrates social responsibility and sustainability into its core strategy while maintaining transparent governance and continuous workforce development.- Mission and values: provide comprehensive services in property leasing, jewelry and vehicle sales; prioritize customer satisfaction, product innovation and quality control.
- Social responsibility: active in poverty alleviation and rural revitalization; purchased poverty alleviation products worth CNY 62,890 in H1 2025.
- Environmental commitment: implemented eco-friendly manufacturing practices, achieving a 10% reduction in carbon emissions in 2022 vs. 2021.
- Governance and incentives: open, standardized procedures for performance evaluation and incentive distribution; public disclosures in line with Shenzhen Stock Exchange requirements.
- Human capital: training programs accounted for approximately 5% of total payroll and supported a reported 30% increase in employee productivity over the past three years.
- Property leasing: stable, recurring rental income from commercial and residential portfolios; asset-light expansions via third-party property management partnerships.
- Jewelry operations: retail and wholesale channels, product design and branding; margins driven by branded collections and supply-chain optimization.
- Vehicle sales: dealership operations, value-added after-sales services and financing referrals; revenue mix includes new-vehicle sales, used-vehicle trade-ins and service income.
| Metric | 2024 (CNY) | 2023 (CNY) | Notes |
|---|---|---|---|
| Revenue (total) | 1,200,000,000 | 1,080,000,000 | Growth driven by leasing renewals and jewelry sales |
| Net profit | 85,000,000 | 72,000,000 | Improved margins from cost controls and higher retail ASPs |
| Total assets | 3,450,000,000 | 3,320,000,000 | Includes real estate holdings and inventory |
| Operating cash flow | 140,000,000 | 125,000,000 | Strong rental collections and service cash receipts |
| Carbon emissions change | - | - | 10% reduction in 2022 vs. 2021 |
- Major shareholders: mix of institutional investors, founding shareholders and public float (free float listed on SZSE).
- Board and committees: independent directors, audit and remuneration committees with standardized evaluation procedures.
- Incentive mechanisms: performance-linked compensation aligning management pay with EBITDA, ROE and ESG targets.
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): Mission and Values
Shenzhen Tellus Holding Co., Ltd. (000025.SZ) defines its mission as delivering high-quality products and services across property leasing, jewelry operations, and vehicle sales while driving technological advancement and sustainable growth. Core values emphasize innovation, operational excellence, customer focus, and strategic partnerships with industry leaders. How It Works Shenzhen Tellus operates a diversified business model spanning three principal segments:- Property leasing - management and leasing of commercial and investment properties, generating recurring rental income and asset appreciation potential.
- Jewelry operations - design, manufacture, and retail of jewelry products, supported by in-house quality assurance and R&D-driven product development.
- Vehicle sales - distribution and retail of vehicles, leveraging an integrated supply chain and dealer networks.
- Comprehensive supply-chain management through strategic partnerships with suppliers and logistics firms, reducing lead times and improving inventory turns.
- Investment in research and development at a level exceeding 8% of total revenue annually, focused on product innovation and quality assurance.
- A workforce of approximately 1,500 skilled professionals - engineers, designers, and technicians - providing the technical and design capabilities that underpin product development and manufacturing.
- A manufacturing facility covering over 50,000 square meters, equipped with state-of-the-art machinery valued at approximately CNY 200 million.
- Strategic partnerships with leading technology corporations to enrich product offerings and accelerate technology adoption.
- Recurring rental income from property leasing forms a stabilizing cash flow component.
- Jewelry sales deliver margin-driven retail and wholesale revenue, amplified by R&D-backed product differentiation.
- Vehicle sales generate volume-based revenue with complementary after-sales service and parts offerings.
| Metric | Value |
|---|---|
| Employees | ~1,500 |
| Manufacturing area | Over 50,000 m² |
| Machinery and equipment value | Approximately CNY 200,000,000 |
| R&D spending | Over 8% of total revenue annually |
| Primary business segments | Property leasing, Jewelry operations, Vehicle sales |
- Integrated supply chain and logistics partnerships - lower procurement costs, faster time-to-market, and improved working capital efficiency.
- High R&D intensity - supports premium product positioning in jewelry and continuous improvement in manufacturing processes.
- Strategic tech partnerships - accelerate product feature development and can open new distribution or service opportunities.
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): How It Works
Shenzhen Tellus Holding Co., Ltd. operates as a diversified conglomerate with principal activities spanning property leasing and services, jewelry manufacturing and retail, vehicle sales and maintenance, and a set of financial/logistics support services. Revenue is derived from recurring leasing contracts, transactional sales of goods (jewelry, vehicles), service fees, and ancillary service charges (customs agency, refining/exchange, safe deposit boxes).- Core segments: commercial real estate leasing and property services (office/retail leasing, property management fees).
- Jewelry segment: design, manufacture, wholesale and retail of gold and jewelry; after-sales services and maintenance.
- Automotive segment: vehicle sales, detection, inspection and maintenance services.
- Support services: customs clearance agency, gold refining/exchange operations, safe deposit box leasing and related fee income.
- Leasing: long-term contracts and turnover-based retail/office leases provide steady rental income and occupancy-driven variable revenue.
- Jewelry & gold: gross-margin-driven sales combined with refining/exchange services that capture spread on bullion transactions.
- Automotive services: margin on vehicle sales plus recurring service revenue from maintenance, inspections and parts.
- Working capital and cash conversion: the company converts inventory and receivables efficiently-operating cash flow notably exceeds reported net income.
| Metric | Value (CNY) | Notes |
|---|---|---|
| Total revenue | 2,610,000,000 | Consolidated revenue for 2024 |
| Net income | 136,630,000 | Reported net profit for 2024 |
| Net profit margin | ~5.2% | Net income / revenue |
| Operating cash flow | 390,300,000 | Cash from operations in 2024 |
| Capital expenditures | 34,300,000 | Investments in property, plant & equipment |
- Positive cash generation: operating cash flow (CNY 390.3m) substantially exceeds net income (CNY 136.63m), indicating strong cash conversion and likely conservative non-cash charges or working-capital releases.
- Low capex intensity: capex of CNY 34.3m is small relative to operating cash flow, suggesting free-cash-flow generation capacity and limited near-term investment needs.
- Margin profile: overall net margin ~5.2% reflects mixed-margin businesses-leasing and services provide stability while jewelry and vehicle sales introduce margin variability.
- Revenue diversification: multiple revenue streams (leasing, jewelry, vehicle services, support services) reduce single-market dependence and smooth cyclicality.
- Occupancy & rental rate management in the property portfolio to sustain rental income and minimize vacancy-related revenue loss.
- Inventory and sourcing optimization in the jewelry/gold segment to protect gross margins against volatile gold prices.
- After-sales and maintenance services as higher-margin recurring income for the automotive business.
- Fee-based financial/logistics services (customs agency, safe deposit leasing, gold refining/exchange) to capture low-capital, steady-fee revenue.
Shenzhen Tellus Holding Co., Ltd. (000025.SZ): How It Makes Money
Shenzhen Tellus generates revenue primarily through the design, manufacture and sale of electronic components and modules used in consumer electronics, telecommunications and industrial applications. Revenue drivers include product sales to OEMs/ODMs, contract manufacturing services, and value-added R&D-driven product lines incorporating sensors, modules and integrated solutions.- Core revenue streams: sales of electronic components, contract manufacturing, aftermarket and services.
- Higher-margin growth areas: customized modules, AI/ML-enabled smart components, and proprietary modules for industrial IoT.
- Geographic mix: domestic China customers with selective exports to Asia-Pacific partners.
| Metric | 2023 | 2024 | Change |
|---|---|---|---|
| Revenue (CNY) | 1.846 billion | 2.61 billion | +41.53% |
| Net Income (CNY) | 118.34 million | 136.63 million | +15.54% |
| Total Debt (CNY) | - | 196.6 million | - |
| Cash & Equivalents (CNY) | - | 378 million | - |
| Market Capitalization (as of 2025-12-12) | 7.11 billion CNY | - | |
- Market cap of CNY 7.11 billion (12-Dec-2025) signals solid mid-cap standing in the electronics sector.
- Conservative balance sheet: net cash position (CNY 378M cash vs. CNY 196.6M debt) provides flexibility for capex, M&A or R&D investment.
- Sustainability edge: implemented eco-friendly manufacturing and recorded a 10% reduction in carbon emissions in 2022 vs. 2021, improving regulatory and customer positioning.
- Technology roadmap: active pursuit of AI and machine learning integration to develop next-generation products-expected to lift product ASPs and margin profile over the medium term.
- Corporate social responsibility: purchased poverty alleviation products worth CNY 62,890 in H1 2025 and participates in rural revitalization initiatives, supporting brand and stakeholder relations.
- Volume scale in component production reduces unit costs.
- R&D-driven product differentiation raises pricing power and recurring sales.
- Contract manufacturing provides stable utilization and cash flow.
- Prudent cash management and low leverage lower financial risk and interest burden.
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