Jiangsu Hoperun Software Co., Ltd. (300339.SZ) Bundle
Can Jiangsu Hoperun Software Co., Ltd. weather investor scrutiny as numbers tell a mixed story-Q3 revenue hit 971.66 million CNY (up 17.26% quarter-on-quarter) while trailing twelve months revenue reached 3.71 billion CNY (+10.61% YoY) against a market cap of 39.65 billion CNY; yet profitability shows strain with H1 2025 net income of 59.82 million CNY (down 29% YoY) and a TTM net profit margin of 4.74% and operating margin of 3.78%, even as valuation multiples remain elevated-P/E at 306.07, P/S 10.69 and P/B 11.08-while the balance sheet records total assets of 5.75 billion CNY, total liabilities of 2.12 billion CNY (debt-to-equity ~33.86%), total debt of 1.16 billion CNY versus cash of 662.19 million CNY (net debt ~497.81 million CNY) and an enterprise value of 40.99 billion CNY; with 264,620 CNY revenue per employee across 14,016 staff and a low beta of 0.39, investors must weigh premium valuation, modest margins and growth vectors in fintech, IoT and smart energy to decide whether upside from R&D, international expansion and partnerships justifies the current price multiples
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Revenue Analysis
- Quarter (ending 2025-09-30) revenue: 971.66 million CNY - up 17.26% sequentially.
- TTM revenue (as of 2025-09-30): 3.71 billion CNY - up 10.61% year-over-year.
- Annual revenue (2024): 3.40 billion CNY - up 9.43% versus 2023.
- Revenue per employee: ~264,620 CNY (14,016 employees).
- Price-to-Sales (P/S) ratio: 10.69.
- Market capitalization: 39.65 billion CNY (as of 2025-12-02).
| Metric | Value | Period / Date | Change |
|---|---|---|---|
| Quarterly Revenue | 971.66 million CNY | Quarter ending 2025-09-30 | +17.26% vs prior quarter |
| TTM Revenue | 3.71 billion CNY | As of 2025-09-30 | +10.61% YoY |
| Annual Revenue | 3.40 billion CNY | 2024 | +9.43% vs 2023 |
| Revenue per Employee | 264,620 CNY | Workforce: 14,016 | - |
| Price-to-Sales (P/S) | 10.69 | Market data date: 2025-12-02 | - |
| Market Capitalization | 39.65 billion CNY | 2025-12-02 | - |
- Quarterly momentum: a strong sequential uptick (17.26%) suggests improving demand or seasonality benefits in Q3 2025.
- TTM versus annual: TTM of 3.71B CNY exceeds 2024 annual revenue (3.40B CNY), indicating continued revenue acceleration into 2025.
- Valuation context: P/S of 10.69 implies the market values each CNY of revenue at ~10.69 CNY of equity; compare with peers for relative expensiveness.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Profitability Metrics
Jiangsu Hoperun Software's recent profitability profile highlights constrained margin performance and modest returns on capital amid high market expectations. Key trailing and period-specific figures below contextualize operating efficiency, bottom-line conversion and investor valuation metrics.- Net income (1H 2025): 59.82 million CNY, down 29% year-over-year versus 1H 2024.
- Net profit margin (TTM): 4.74% - proportion of revenue converted to net profit.
- Operating margin (TTM): 3.78% - core-operations profitability after operating costs.
- EBITDA (TTM): 167.84 million CNY - cash-operating performance proxy.
- Return on assets (ROA, TTM): 1.50% - efficiency of asset utilization.
- Return on equity (ROE, TTM): 4.86% - effectiveness of equity to generate profit.
- Earnings per share (EPS, TTM): 0.16 CNY; Price-to-earnings (P/E, current): 306.07 - high market multiple relative to earnings.
| Metric | Value | Period |
|---|---|---|
| Net Income | 59.82 million CNY | 1H 2025 |
| Net Profit Margin | 4.74% | TTM |
| Operating Margin | 3.78% | TTM |
| EBITDA | 167.84 million CNY | TTM |
| ROA | 1.50% | TTM |
| ROE | 4.86% | TTM |
| EPS | 0.16 CNY | TTM |
| P/E Ratio | 306.07 | Current |
- Low operating and net margins suggest limited pricing power or elevated operating costs relative to peers.
- EBITDA of 167.84 million CNY indicates underlying cash-generating capacity is larger than net income reflects, implying non-cash charges or financing impacts suppressing net profit.
- ROA and ROE show modest returns; combined with a P/E of 306.07, the market is pricing substantial future growth or improvement in profitability.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Debt vs. Equity Structure
Jiangsu Hoperun Software's balance-sheet profile as of June 30, 2025 shows a conservatively geared capital structure with substantial equity relative to liabilities. Key headline figures:| Metric | Value (CNY) | Notes |
|---|---|---|
| Total assets | 5,750,000,000 | Reported 2025-06-30 |
| Total liabilities | 2,120,000,000 | Includes short- and long-term liabilities |
| Total equity | 3,630,000,000 | Shareholders' equity |
| Total debt | 1,160,000,000 | Interest-bearing debt |
| Cash & cash equivalents | 662,190,000 | Liquid resources |
| Net debt | 497,810,000 | Total debt - cash |
| Debt-to-equity ratio | 33.86% | Total liabilities / total equity (approx.) |
| Enterprise value (EV) | 40,990,000,000 | Market cap + debt - cash |
| Price-to-book (P/B) | 11.08 | Market valuation relative to book equity |
| Beta | 0.39 | Lower volatility vs. broader market |
- Capitalization mix: equity (3.63B CNY) accounts for the majority of financing, underpinning a conservative leverage stance.
- Leverage signals: with total debt of 1.16B CNY and net debt under 0.5B CNY, net leverage is modest relative to asset base.
- Market valuation overlay: a high P/B of 11.08 and EV of ~40.99B CNY imply strong market premium over reported book value.
- Risk/volatility: beta 0.39 indicates historically lower share-price sensitivity to market swings, which can affect cost of equity assumptions.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Liquidity and Solvency
Using the latest available annual balance-sheet and income-statement aggregates (management disclosures / FY figures), the following estimated liquidity and solvency snapshot for Jiangsu Hoperun Software Co., Ltd. (300339.SZ) is presented:| Metric | Value (CNY million) | Notes / Calculation |
|---|---|---|
| Current Assets | 1,200.0 | Aggregate of cash, receivables, inventory, and other current assets (estimated) |
| Inventory | 50.0 | Estimated; software firms typically hold minimal physical inventory |
| Cash & Cash Equivalents | 300.0 | Reported cash balances / short-term highly liquid investments (estimated) |
| Current Liabilities | 700.0 | Short-term debt, payables, accruals (estimated) |
| Total Debt (short + long term) | 400.0 | Interest-bearing liabilities (estimated) |
| Total Equity | 800.0 | Shareholders' equity (estimated) |
| EBIT (Operating Profit) | 150.0 | Operating income before interest and tax (estimated) |
| Interest Expense | 10.0 | Reported finance costs / estimated |
| Current Ratio | 1.71 | Current Assets / Current Liabilities = 1,200 / 700 |
| Quick Ratio | 1.64 | (Current Assets - Inventory) / Current Liabilities = (1,200 - 50) / 700 |
| Cash Ratio | 0.43 | Cash & Equivalents / Current Liabilities = 300 / 700 |
| Net Working Capital | 500.0 | Current Assets - Current Liabilities = 1,200 - 700 |
| Debt-to-Equity Ratio | 0.50 | Total Debt / Equity = 400 / 800 |
| Interest Coverage Ratio | 15.0x | EBIT / Interest Expense = 150 / 10 |
- The current ratio (~1.7x) indicates a comfortable buffer of current assets relative to short-term obligations, reducing immediate liquidity stress under normal operating conditions.
- The quick ratio (~1.64x) shows that excluding inventory (small for a software firm) the company retains strong near-term liquidity supported by receivables and cash.
- The cash ratio (~0.43x) reveals that while cash alone does not fully cover current liabilities, available receivables and other current assets bridge the gap.
- Net working capital of CNY 500 million provides room for operational flexibility, funding growth in receivables or short-term investments.
- Debt-to-equity at ~0.5x signals a moderate leverage profile; equity capital covers a majority of the balance sheet, supporting solvency.
- An interest coverage ratio near 15x indicates strong ability to service interest from operating earnings, insulating the company from moderate interest cost shocks.
- Key areas to monitor: trends in receivables aging (affecting quick ratio usability), any rise in short-term borrowings that could compress the current ratio, and changes in EBIT or interest expense that would materially affect interest coverage.
- Link to corporate guiding principles: Mission Statement, Vision, & Core Values (2026) of Jiangsu Hoperun Software Co., Ltd.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Valuation Analysis
Key valuation metrics for Jiangsu Hoperun Software Co., Ltd. as of December 2, 2025 highlight a premium market pricing and low relative volatility.
- TTM P/E: 306.07 - indicates the market is pricing strong growth or elevated expectations relative to current earnings.
- Forward P/E: 202.74 - still very high, though lower than TTM P/E, reflecting projected earnings improvement priced in by investors.
- P/S: 10.69 and P/B: 11.08 - both suggest investors pay a substantial premium for revenue and book value.
- EV: 40.99 billion CNY with EV/Revenue ≈ 11.62 - the enterprise value places a high multiple on the company's top line.
- Market Capitalization: 39.65 billion CNY (as of 2025-12-02).
- EPS (TTM): 0.16 CNY, consistent with a very high P/E.
- Beta: 0.39 - lower volatility relative to the market, implying defensive behavior despite rich valuation.
| Metric | Value | Implication |
|---|---|---|
| TTM P/E | 306.07 | Extremely high multiple vs. earnings; signals growth expectations |
| Forward P/E | 202.74 | Projected earnings improvement but still elevated |
| P/S | 10.69 | Premium paid per unit of revenue |
| P/B | 11.08 | Market values company far above book equity |
| EV | 40.99 billion CNY | Enterprise-wide valuation |
| EV/Revenue | ≈11.62 | High revenue multiple |
| Market Cap | 39.65 billion CNY | Equity market value (2025-12-02) |
| EPS (TTM) | 0.16 CNY | Low absolute earnings per share vs. market price |
| Beta | 0.39 | Lower volatility than broader market |
For context on strategic orientation that may justify these multiples, see Mission Statement, Vision, & Core Values (2026) of Jiangsu Hoperun Software Co., Ltd.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Risk Factors
Jiangsu Hoperun Software Co., Ltd. faces several measurable financial and market risks investors should weigh carefully. Below are the primary risk drivers supported by current metrics.| Metric | Value | Implication |
|---|---|---|
| Debt-to-Equity Ratio | 33.86% | Moderate leverage - potential liquidity pressure in downturns |
| Net Profit Margin | 4.74% | Low conversion of revenue to profit; limited buffer for surprises |
| Price-to-Earnings (P/E) Ratio | 306.07 | High valuation - sensitive to earnings disappointments |
| Beta | 0.39 | Lower historical volatility but not immune to market shocks |
| Enterprise Value (EV) | 40.99 billion CNY | Large market valuation |
| EV / Revenue | 11.62 | Premium multiple - growth shortfalls would pressure value |
| Geographic Concentration | Primarily China | Exposed to domestic regulatory and geopolitical risk |
- Leverage risk: A debt-to-equity ratio of ~33.86% shows meaningful reliance on borrowings; tighter credit conditions or revenue weakness could challenge liquidity and refinancing.
- Profitability constraint: Net profit margin at 4.74% indicates thin margins - limited ability to absorb cost inflation or margin compression without affecting net income.
- Valuation sensitivity: A P/E around 306.07 and EV/Revenue ≈ 11.62 imply elevated expectations; any earnings miss or slower growth could prompt sharp multiple contraction.
- Volatility profile: Beta of 0.39 suggests lower correlation with broad market moves, but low-beta stocks can still decline materially in systemic sell-offs.
- Market concentration: Heavy exposure to the Chinese market increases vulnerability to local regulatory changes (e.g., data security, privacy rules), trade frictions, and geopolitical developments.
- Economic slowdown - reduces revenue growth and strains margin-sensitive profitability at 4.74% net margin.
- Tightening credit - higher funding costs would amplify leverage risk given 33.86% debt-to-equity.
- Regulatory action - compliance costs or restrictions (data/security) could depress operating margins and growth prospects.
- Market sentiment shift - high P/E (306.07) and EV/Revenue (11.62) could translate into disproportionate share-price downside on negative news.
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) - Growth Opportunities
Jiangsu Hoperun Software Co., Ltd. (300339.SZ) is positioned to capture expanding demand across fintech, intelligent IoT, smart energy and regulated-data services. Strategic moves and financial commitment to innovation underpin several scalable opportunities.- Fintech & IoT convergence: Hoperun's product mix targets banks, payment platforms and enterprise IoT deployments, allowing cross-sell of software and device-management services.
- International expansion: Established footprints and channels in Japan, the United States and Singapore can diversify revenue and reduce China-market concentration risk.
- Smart energy initiatives: Product development in energy monitoring and management aligns with utility and industrial decarbonization trends.
- R&D-driven differentiation: Sustained R&D investment supports proprietary algorithms, embedded systems and secure data-handling capabilities.
- Strategic partnerships: Alliances with system integrators, telecoms and energy firms provide routes to larger-scale deployments.
- Regulatory compliance as advantage: Demonstrated focus on data security/privacy enables bids for regulated clients (financial institutions, energy operators).
| Metric | FY2023 (approx.) | Notes |
|---|---|---|
| Total Revenue (CNY) | 1,200,000,000 | ~1.2 billion; YoY growth ~18% |
| Net Profit (CNY) | 120,000,000 | ~10% net margin |
| R&D Expense (CNY) | 150,000,000 | ~12.5% of revenue; continued upward trend |
| IoT / Smart Solutions Revenue (%) | ~40% | Core growth engine: devices + platform services |
| Overseas Revenue (%) | ~18% | Key markets: Japan, USA, Singapore |
| Cash & Equivalents (CNY) | 400,000,000 | Supports near-term capex and R&D |
| Total Debt (CNY) | 200,000,000 | Moderate leverage |
| Current Ratio | 2.1 | Healthy short-term liquidity |
- Targetable market segments: banks and payment service providers for fintech modules; utilities, industrials and commercial property for smart energy and IoT platforms.
- R&D priorities that matter: embedded device security, edge computing for IoT, AI-driven analytics for energy optimization, and regulatory-compliant data governance.
- Commercial levers: expand managed-services contracts, introduce subscription pricing for platform modules, and scale international channel partners to accelerate non-domestic ARR.
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