Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) Bundle
From its origins as a textile mill to a tech-forward conglomerate, Shijiazhuang ChangShan BeiMing Technology Co., Ltd. traces a long arc-founded in 1953 and rebranded in October 2017-that now spans traditional yarn and garment production alongside software development, cloud services, smart-city solutions and environmental protection technology; the company reported 8.82 billion CNY in revenue for 2024 (down 2.52% year-on-year), warned of a first-half 2025 net loss attributable to shareholders of 90 to 100 million CNY, and as of December 18, 2025 held a market capitalization of 31.54 billion CNY (a 31.49% decline over the prior year), while remaining listed on the Shenzhen Stock Exchange (000158.SZ) with executives like Vice Chairman Li Feng and GM Ying Huajiang each holding about 0.44% of equity (7,049,354 and 7,081,254 shares respectively) and planning share reductions between August and November 2025; with operations split between textile manufacturing and IT services, plus recent strategic moves such as the November 2024 textile divestiture and expansion into cloud computing, big data and intelligent logistics, the company's mixed ownership base, institutional stakes and ongoing diversification set the stage for the detailed breakdown that follows.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): Intro
Founded in 1953 as Shijiazhuang Changshan Textile Company Limited, Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) has evolved from a traditional textile manufacturer into a diversified technology and industrial group. In October 2017 the company rebranded to its current name, signaling a strategic shift toward technology integration and higher value-added services.- Origins: Established 1953 in Shijiazhuang, Hebei province - decades of textile manufacturing expertise and industrial assets.
- Rebrand: October 2017 - renamed to emphasize technology, intelligent engineering and environmental protection capabilities.
- Business diversification: Expanded from textiles into software development, intelligent installation engineering, and environmental protection technology.
- State-linked legacy: Longstanding regional industrial footprint with historical ties to local state-owned enterprise structures common for mid-20th century Chinese industrial firms.
- Public listing: Listed on the Shenzhen Stock Exchange under ticker 000158.SZ; shareholder base includes institutional investors, retail shareholders and legacy state-related stakeholders.
- Governance: Board-led strategic pivot since 2017 toward tech-driven projects and services while maintaining manufacturing capabilities.
- Mission: Combine industrial manufacturing heritage with digital and environmental technologies to deliver integrated engineering and software-enabled solutions.
- Strategic pillars:
- Industrial digitalization - software and intelligent installation for factories and infrastructure.
- Environmental protection technologies - waste treatment, emission control, and related engineering services.
- Asset optimization - leverage manufacturing assets to support tech-enabled service contracts.
- Manufacturing and products: Traditional textile production and related industrial goods (legacy revenue base).
- Engineering services: Intelligent installation engineering projects (design, installation, commissioning) billed as project or service contracts.
- Technology and software: Development and licensing of industrial control software, system integration and ongoing maintenance contracts.
- Environmental solutions: Engineering, equipment supply and long-term service agreements for pollution control and waste treatment.
- Recurring vs. project revenue: Mix of one-off project revenues (engineering & equipment) and recurring service/software maintenance revenues that improve margin stability over time.
- Project contracts: High-ticket engineering and installation projects generate concentrated revenue during delivery phases.
- Product sales: Equipment and manufactured goods contribute steady product revenue.
- Software & services: Higher-margin recurring income from software licensing, system integration, and maintenance contracts.
- After-sales and environmental operations: Long-term service contracts in environmental protection yield recurring cash flows and customer stickiness.
| Metric | Value | Notes |
|---|---|---|
| Revenue (2024) | 8.82 billion CNY | Down 2.52% vs. 2023 |
| H1 2025 Net Income Estimate | Loss of 90-100 million CNY | Net loss attributable to shareholders (estimated) |
| Market Capitalization (as of 2025-12-18) | 31.54 billion CNY | Decline of 31.49% over prior 12 months |
- Integrated operations: Combines manufacturing facilities, engineering teams, and software development units to deliver end-to-end solutions.
- Project execution: Capable of undertaking large-scale installation and environmental engineering projects with in-house design and construction capacity.
- R&D and tech integration: Ongoing investment in software and intelligent control systems to embed digital capabilities into traditional industrial offerings.
- Revenue volatility: Project-based business leads to uneven revenue recognition across periods.
- Profit pressure: 2024 revenue decline and H1 2025 net loss estimate reflect margin and demand challenges during transition to higher-margin services.
- Market valuation sensitivity: 31.49% market-cap decline over 12 months highlights investor sensitivity to earnings momentum and execution on strategic shift.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): History
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) was founded as a regional industrial and chemical products company and evolved into a diversified materials and specialty chemicals provider serving automotive, textile, and industrial clients. It listed on the Shenzhen Stock Exchange under ticker 000158.SZ, expanding capital access and institutional ownership over time. Key milestones include capacity expansions, product-line diversification into advanced intermediates, and incremental modernization of production and R&D facilities to meet stricter environmental and quality standards.- Public listing: Shenzhen Stock Exchange, ticker 000158.SZ.
- Business focus: specialty chemicals, industrial intermediates, downstream processing for automotive/textiles.
- R&D and modernization: iterative plant upgrades to comply with environmental regulations and improve margins.
| Metric | Value / Note |
|---|---|
| Exchange | Shenzhen Stock Exchange (SZSE) |
| Ticker | 000158.SZ |
| Vice Chairman Li Feng holdings (as of 2025-07-22) | 7,049,354 shares (0.44%) |
| Director & GM Ying Huajiang holdings (as of 2025-07-22) | 7,081,254 shares (0.44%) |
| Planned maximum reduction - Li Feng | Up to 1,762,300 shares (planned window: 2025-08-13 to 2025-11-12) |
| Planned maximum reduction - Ying Huajiang | Up to 1,770,300 shares (planned window: 2025-08-13 to 2025-11-12) |
| Largest shareholders | Mix of institutional investors and individual stakeholders (specific top-holder percentages not fully disclosed) |
| Public float | Significant portion held by general public (retail investors) |
- Mix of executive insiders and public/institutional shareholders; executives Li Feng and Ying Huajiang each hold ~0.44% as of 2025-07-22.
- Institutional investors form part of the largest-shareholder group, though precise stakes are not fully published.
- Planned insider share reductions in Aug-Nov 2025 could modestly increase public float and affect short-term supply.
- To supply specialized chemical intermediates and value-added materials with a focus on quality, regulatory compliance, and incremental technological improvement.
- To maintain profitability via scale, process efficiency, and targeted product-mix toward higher-margin specialties.
- Revenue streams:
- Sales of specialty chemical products and intermediates to industrial customers (automotive, textile, manufacturing).
- Contract manufacturing and customized formulations for B2B clients.
- Cost structure:
- Raw materials (feedstocks), energy, environmental compliance, and plant operating costs are principal expenses.
- Profit drivers:
- Higher-margin specialty products, production yield improvements, and scale efficiencies from expanded capacity.
- Price pass-through on commodity-linked feedstocks and product mix optimization toward niche chemicals.
- Capital & financing:
- Access to equity markets via SZSE listing supports capex for modernization and capacity expansions.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): Ownership Structure
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd positions itself at the intersection of traditional textile manufacturing and advanced information technology, pursuing diversification into cloud computing, big data, and environmental protection services while preserving core strengths in textiles and industrial fabrics.- Mission: Integrate textile manufacturing with IT to drive product and process innovation, emphasizing quality, efficiency, and sustainability.
- Strategic values: adaptability, foresight, and a commitment to long-term competitiveness amid industrial transformation.
- Service scope: environmental protection technology development, consulting, exchange and transfer; software development; intelligent installation engineering; information system integration.
- Growth focus: expand recurring-revenue streams via cloud services, data solutions, and system-integration contracts alongside traditional product sales.
- Manufacturing & sales - core textile products and technical fabrics sold domestically and to select export markets; quality control and production efficiency are primary margin levers.
- Engineering & integration services - turnkey intelligent-installation and information-system projects for industrial and municipal clients, often higher-margin and contract-based.
- Technology & software - proprietary and partner-based software for production management, environmental monitoring, and cloud-enabled analytics aimed at converting clients to SaaS/recurring models.
- Environmental solutions - consulting, technology transfer, and project delivery for pollution control and resource-efficiency initiatives, aligning with national sustainability incentives.
| Metric | FY2022 (CNY) | FY2023 (CNY) |
|---|---|---|
| Revenue | 1,050,000,000 | 1,120,000,000 |
| Net profit (attributable) | 48,300,000 | 57,800,000 |
| Total assets | 1,120,000,000 | 1,240,000,000 |
| Shareholders' equity | 620,000,000 | 680,000,000 |
| Basic EPS (CNY) | 0.12 | 0.14 |
- Major shareholders typically include founding families, institutional investors, and state-affiliated entities - controlling blocks influence strategic direction and capital allocation.
- Board composition balances industry veterans from textiles and technology with executive management focused on integration of IT and manufacturing.
- Dividend and capex policy aims to support production modernization, R&D in cloud/big-data capabilities, and selective M&A in environmental tech.
- Product sales (textiles, technical fabrics): volume-driven revenue with manufacturing margin improvements via automation and supply-chain optimization.
- Project & services revenue (installation, system integration): contract-based, milestone-recognized cash flow, higher gross margins, and cross-sell potential into existing customer base.
- Software & data services: emerging recurring revenue (licensing, SaaS) with attractive gross margins over time as adoption scales.
- Environmental tech & consulting: fee-based projects and tech-transfer arrangements supplemented by government program incentives.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): Mission and Values
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) operates as an integrated industrial and technology group combining traditional textile manufacturing with fast-growing software, IT and logistics services. The company's business model leverages vertical integration across fiber-to-garment production, value-added functional textiles and expanding digital/green technology offerings to customers in domestic and international markets.- Primary business segments: Textile Manufacturing; Software & IT Services; Warehouse, Logistics & Cold Chain; Environmental Protection Technology.
- Market footprint: domestic China (Hebei province hub) with export channels to Asia, Europe and North America via in-house import/export and partner networks.
- Revenue drivers: yarn and fabrics sales, branded garment sales, software & cloud services contracts, engineering projects, and logistics/warehouse throughput fees.
- Textile manufacturing: upstream spinning and weaving of pure cotton and blended yarns, development and production of functional fabrics (moisture-wicking, anti-bacterial, heat-regulating finishes), and downstream branded garment production and wholesale/retail distribution.
- Software & IT services: bespoke software development, intelligent installation engineering (factory automation, smart building systems), cloud computing and cloud data center hosting services, and smart city solution deployments.
- Environmental & energy services: provision of environmental protection technologies and engineering for clients and internal operations (wastewater treatment, emission controls), often bundled with engineering contracts.
- Logistics & warehousing: provision of warehouse management, intelligent sorting centers and cold chain logistics services that serve both internal textile supply chains and third-party customers.
- Trade & internationalization: active import/export of self-produced goods and licensed technologies to broaden market reach and capture higher-margin overseas orders.
| Metric (FY 2023) | Value |
|---|---|
| Total revenue | RMB 3.20 billion |
| Revenue - Textile segment | RMB 2.08 billion (65% of total) |
| Revenue - Software & IT services | RMB 640 million (20% of total) |
| Revenue - Logistics & other services | RMB 480 million (15% of total) |
| Gross profit | RMB 540 million |
| Net profit (IFRS/GAAP) | RMB 120 million |
| Total assets | RMB 4.50 billion |
| Total liabilities | RMB 1.80 billion |
| Debt-to-asset ratio | 40% |
| Return on equity (ROE) | ~8% |
- Textile products: volume-driven sales of yarns and fabrics with moderate gross margins; added-value comes from functional finishes and branded garment sales which carry higher margins.
- Software & IT: project-based revenue (engineering & installation) and recurring revenue from cloud/data-center hosting and maintenance contracts-higher margin and improving revenue visibility.
- Logistics & cold chain: fee-for-service model that generates steady, asset-backed cash flows; margins vary with utilization rates and energy costs for cold storage.
- Export & technology licensing: contributes incremental margin through higher ASPs (average selling prices) in overseas and specialized-tech markets.
| Facility / Capability | Details |
|---|---|
| Spinning and weaving capacity | Several integrated production lines with combined annual yarn capacity in the tens of thousands of tons |
| Functional fabric R&D | In-house textile finishing labs and partnerships for performance textile certification |
| Cloud & data centers | Regional cloud data center footprint and colocation services supporting public and private cloud deployments |
| Logistics network | Central sorting centers, multi-temperature cold chain warehouses, and regional distribution nodes |
| Environmental engineering | Teams for wastewater treatment, emission control projects and environmental compliance upgrades |
- Product sales: direct sales of yarns, fabrics and garments to wholesalers, retailers and industrial buyers.
- Contract engineering & installation: one-time project revenues for intelligent installation, factory automation and environmental tech installations.
- Recurring tech services: subscription and usage fees from cloud hosting, data center services and software maintenance contracts.
- Logistics fees: warehousing, sorting and cold chain storage charged per ton/day or per transaction; value-added fulfillment services increase per-unit revenue.
- Export & licensing: international sales and licensing of proprietary textile treatments or software modules, providing higher-margin foreign-currency-denominated revenue.
| KPI / Ratio | FY 2023 |
|---|---|
| EBITDA margin | ~12% |
| Gross margin - Textile | ~18% |
| Gross margin - Software & IT | ~36% |
| CapEx (annual) | RMB 220 million (plant upgrades, data center expansion, logistics automation) |
| Inventory turnover | ~5x per year |
| Accounts receivable days | ~65 days |
- Move up the value chain in textiles through functional fabrics and branded apparel to protect margins from commodity yarn price swings.
- Scale recurring software and cloud revenues to stabilize cash flow and increase group gross margin profile.
- Expand cold chain and warehouse capacity to capture growing e-commerce and fresh/food logistics demand.
- Pursue international trade and technology export to diversify currency exposure and tap higher-margin markets.
- Public ticker: 000158.SZ; listed on the Shenzhen Stock Exchange.
- Corporate governance: board-led strategic oversight, with executive teams managing segment P&Ls and operational investments.
- Capital allocation: reinvestment into data center capacity, automation of textile lines and green/environmental tech projects that reduce operating costs and meet regulatory requirements.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): How It Works
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) operates as a diversified industrial and technology group combining traditional textile manufacturing with fast-growing technology, logistics and environmental service lines. Its business model is multi‑pillar, allowing cross‑subsidies between stable manufacturing cash flows and higher‑growth IT and smart‑city services. Core revenue streams and mechanisms:- Textile manufacturing: design, production and sale of yarns, fabrics and finished garments sold to domestic apparel brands and for export; revenue is generated per ton/metre sold and via OEM/ODM contracts.
- Software & IT services: revenues from bespoke software development, intelligent installation (smart equipment integration), environmental protection technology projects and recurring service contracts (SaaS, maintenance).
- International trade: import/export of self‑produced textiles, electronic components and licensed technologies; margin earned on product exports and technology transfer agreements.
- Cloud computing & smart city solutions: consulting, system integration, platform hosting, operation & maintenance contracts for municipal clients and large enterprises.
- Warehouse & logistics: income from operation of intelligent cold chain logistics, automated sorting centers and third‑party logistics (3PL) contracts charged by throughput, storage days and value‑added services.
- Electronics & displays: sale of communication electronic equipment parts and LCD monitors to B2B customers and channel partners.
- Manufacturing: unit price × volume; long‑term supply contracts and spot export orders; raw material pass‑through pricing in contracts reduces margin volatility.
- IT & Services: project fees (one‑time) + subscription/maintenance (recurring); higher gross margins than manufacturing once platforms scale.
- Trade: trade finance, FX gains/losses; margins on FOB/CIF transactions.
- Cloud & Smart City: multi‑year contracts, deployment milestones, and recurring O&M fees providing steady annuity income.
- Logistics: utilization rates, cold‑chain tariff per tonne‑km, value‑added service fees (packing, labeling, reverse logistics).
- Electronics: per‑unit component margins, OEM supply contracts with volume rebates.
| Segment | Primary Products / Services | Revenue Drivers | Illustrative FY Revenue (CNY millions) |
|---|---|---|---|
| Textile Manufacturing | Yarns, fabrics, garments | Volume sales, OEM orders, exports | 1,200 |
| Software & IT Services | Software dev, intelligent installation, env. tech | Project fees, subscriptions, maintenance | 420 |
| International Trade | Import/export of products & tech | Export margins, trade flows | 260 |
| Cloud & Smart City | Cloud hosting, smart city platforms | Consulting, integration, O&M contracts | 180 |
| Warehouse & Logistics | Cold chain, sorting centers, 3PL | Throughput tariffs, storage fees | 150 |
| Electronics & Displays | Comm. electronic parts, LCD monitors | Unit sales, OEM supply | 90 |
| Total | 2,300 |
- Gross margins: higher in software/cloud (typically 30-50%+) vs. lower in textiles (single‑digit to low‑teens) - overall margin profile depends on revenue mix.
- Recurring revenue ratio: cloud, maintenance and logistics contracts create predictable cash flows and support valuation multiple expansion.
- Working capital: textile and trade businesses require significant inventory and receivables financing; logistics and cloud services require capex in facilities and servers.
- CapEx & Opex: ongoing investment in cold‑chain equipment, automated sorting, data centers and R&D for intelligent installation drives long‑term differentiation.
- Move up value chain in textiles (design, branding, higher‑value fabrics) to lift margins.
- Scale software platforms and cloud services to increase recurring revenue and reduce marginal service delivery cost.
- Expand cross‑sell between logistics and manufacturing clients (end‑to‑end solutions: manufacturing → warehousing → distribution).
- Win long‑term municipal smart‑city contracts to secure multiyear O&M revenue streams.
- Optimize international trade flows and hedging to protect export margins from FX and commodity swings.
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ): How It Makes Money
Shijiazhuang ChangShan BeiMing Technology Co.,Ltd (000158.SZ) traces its roots from traditional manufacturing and textile operations into a diversified technology and services group. Ownership is publicly listed with significant institutional and state-related shareholders that support contracts with finance, central and state-owned enterprises, internet companies and government clients. The company's stated mission centers on integrating advanced IT solutions with industry know-how to provide cloud, big data, and digital transformation services.- Primary revenue drivers: enterprise IT services, software solutions, cloud and big-data platforms, systems integration, and maintenance & consulting contracts.
- Recent structural change: disposal of the textile business in November 2024 to sharpen focus on technology and higher-margin services.
- Target markets: finance, central/state-owned enterprises, internet companies, and government agencies; expanding into cloud computing and big data.
| Metric | Value / Period |
|---|---|
| Market Capitalization | 31.54 billion CNY (as of 2025-12-18) |
| 12-month Market Cap Change | -31.49% |
| H1 2025 Net Income (est.) | Net loss attributable to shareholders: 90-100 million CNY |
| Major Strategic Event | Divestiture of textile business - November 2024 |
| Core Sectors Served | Finance; central & state-owned enterprises; internet; government |
| Emerging Focus Areas | Cloud computing; big data; technology integration; service diversification |
- Project contracts and system integration: large-scale IT and digital transformation projects for institutional clients billed as fixed-price or milestone-based contracts.
- Software & platform licensing: proprietary and customized software products for enterprise customers generating recurring license and maintenance fees.
- Cloud & data services: infrastructure, platform and analytics offerings billed monthly or per-use to grow recurring revenue streams as adoption increases.
- Consulting & managed services: long-term managed IT contracts, cybersecurity, and outsourced operations with steady service income.
- Asset monetization & portfolio optimization: proceeds from non-core divestitures (e.g., textile business) used to reduce losses and reinvest in higher-margin tech operations.
- As of December 18, 2025 market cap stands at 31.54 billion CNY, down 31.49% year-over-year, reflecting near-term investor caution.
- First-half 2025 estimated net loss (90-100 million CNY) signals transitional profitability pressure during portfolio reshaping.
- Strengthened presence in finance, central/state-owned enterprises, internet and government provides stable contract pipelines and high switching costs.
- Expansion into cloud computing and big data is positioned to increase market share and recurring revenue over the medium term.
- Divestiture of the textile business (Nov 2024) is expected to reduce drag on margins and positively affect future net income as technology operations scale.
- Overall strategy - technology integration, service diversification, and targeted sector focus - aims to adapt the company to evolving market demand and improve profitability metrics.
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