Tianshui Huatian Technology Co., Ltd. (002185.SZ) Bundle
Investors scrutinizing Tianshui Huatian Technology Co., Ltd. (002185.SZ) will find a mixed but data-rich picture: Q3 2025 revenue jumped to CNY 4.60 billion (+20.63% YoY) with TTM revenue of CNY 16.31 billion (up 18.52% YoY) and a market cap of CNY 35.88 billion as of Dec 12, 2025; profitability showed sharp upside in Q3 with net profit attributable to shareholders of CNY 316 million (+135.40% YoY) and Q3 EPS of CNY 0.0980, yet trailing metrics reveal pressure-TTM net profit margin just 3.85%, ROA 0.61% and ROE 1.30%, and a fiscal 2024 P/E of 60.37 (TTM P/E 64.52) signaling rich valuation; the balance sheet carries CNY 14.94 billion in total debt against CNY 21.18 billion equity (debt-to-equity 70.53%) with cash holdings of CNY 7.68 billion but a cash ratio of 0.569 and limited disclosure of interest coverage; operational cash flow rose 19.29% to CNY 660.70 million while liabilities increased ~7.8% to CNY 19.32 billion; growth levers include a 2025 revenue target of CNY 15.9 billion, CNY 200 million in R&D, a CNY 500 million M&A budget, a 25% carbon-reduction sustainability goal, a share buyback program, and a new headquarters planned for 2025-read on to dive into the detailed revenue, profitability, leverage, liquidity and valuation analyses that matter for investment decisions.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Revenue Analysis
Tianshui Huatian Technology reported robust top-line growth across 2024-Q3 2025, driven by expanded production capacity and sustained demand for semiconductor packaging and testing services. Key headline figures illustrate accelerated revenue momentum and scale efficiencies per employee.- Q3 2025 revenue: CNY 4.60 billion (up 20.63% YoY).
- TTM revenue as of Sept 30, 2025: CNY 16.31 billion (up 18.52% YoY).
- Annual revenue 2024: CNY 14.46 billion (up 28.00% vs. 2023).
- Revenue per employee: ~CNY 558,430 across 29,207 employees.
- Price-to-sales (P/S) ratio: 2.20; market cap: CNY 35.88 billion (as of Dec 12, 2025).
| Metric | Amount | Period/Notes |
|---|---|---|
| Q3 Revenue | CNY 4.60 billion | Q3 2025, +20.63% YoY |
| TTM Revenue | CNY 16.31 billion | Trailing 12 months to 2025-09-30, +18.52% YoY |
| Annual Revenue | CNY 14.46 billion | Full year 2024, +28.00% vs. 2023 |
| Employees | 29,207 | Workforce count used for revenue/employee |
| Revenue per Employee | CNY 558,430 | TTM revenue / employees |
| P/S Ratio | 2.20 | Market valuation metric |
| Market Capitalization | CNY 35.88 billion | As of 2025-12-12 |
- Revenue growth drivers: increased wafer-level packaging volume, customer mix shift toward higher ASP products, and capacity expansions coming online in late 2024-2025.
- Efficiency indicators: revenue per employee of ~CNY 558k suggests moderate labor productivity relative to global outsourced assembly peers; ongoing automation investments likely to lift this metric.
- Valuation context: P/S of 2.20 implies the market values each yuan of revenue at CNY 2.20 - investors should compare to sector P/S medians when assessing relative attractiveness.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Profitability Metrics
Tianshui Huatian Technology's recent results show a marked improvement in quarterly profitability while longer-term returns remain modest.- Q3 2025 net profit attributable to shareholders: CNY 316 million (YoY +135.40%).
- Q3 2025 net profit margin: 6.87% (Q3 2024: 3.25%).
- TTM net profit margin (as of 2025-09-30): 3.85%.
- ROA (most recent): 0.61%.
- ROE (most recent): 1.30%.
- Basic EPS Q3 2025: CNY 0.0980 (YoY +133.89%).
- YTD net profit (2025): CNY 543 million (YoY +51.98%).
| Metric | Q3 2024 | Q3 2025 | TTM (as of 2025-09-30) |
|---|---|---|---|
| Net Profit Attributable (CNY million) | 134 | 316 | - |
| Net Profit Margin | 3.25% | 6.87% | 3.85% |
| Basic EPS (CNY) | 0.0419 | 0.0980 | - |
| Return on Assets (ROA) | - | 0.61% | - |
| Return on Equity (ROE) | - | 1.30% | - |
| YTD Net Profit (CNY million) | 357 | 543 | - |
- Strength: Substantial YoY improvement in quarterly net profit and EPS, indicating an operational inflection in Q3 2025.
- Weakness: Low ROA and ROE (0.61% and 1.30%) point to limited efficiency in converting assets and equity into sustained returns.
- Profile: TTM margin of 3.85% suggests that while quarterly performance spiked, full-yearized profitability remains moderate.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Debt vs. Equity Structure
Key balance-sheet metrics for Tianshui Huatian Technology Co., Ltd. (002185.SZ):
- Total debt: CNY 14.94 billion
- Total equity (equity attributable to shareholders): CNY 21.18 billion
- Debt-to-equity ratio: 70.53%
- Total assets: CNY 43.0 billion
- Total liabilities: CNY 21.78 billion
- Cash holdings: CNY 7.68 billion
- Interest coverage ratio: Not available
| Metric | Value (CNY) | Notes |
|---|---|---|
| Total Assets | 43.0 billion | Includes all recorded assets on the balance sheet |
| Total Liabilities | 21.78 billion | Sum of short- and long-term obligations |
| Total Debt | 14.94 billion | Reported total interest-bearing debt |
| Equity Attributable to Shareholders | 21.18 billion | Shareholders' claim on net assets |
| Debt-to-Equity Ratio | 70.53% | Moderate financial leverage (Debt / Equity) |
| Cash Holdings | 7.68 billion | Available liquidity buffer |
| Interest Coverage Ratio | Not available | Unable to assess interest-paying capacity from current data |
For broader investor context and shareholder activity, see: Exploring Tianshui Huatian Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Liquidity and Solvency
- Cash ratio: 0.569 - indicates limited immediate cash cover for short-term obligations.
- Current ratio: not explicitly provided - short-term asset vs. liability coverage cannot be confirmed from available disclosures.
- Quick ratio: not available - liquidity excluding inventory is not reported.
| Metric | Value | YoY Change / Note |
|---|---|---|
| Cash ratio | 0.569 | - |
| Net cash flow from operating activities | CNY 660.70 million | +19.29% (from CNY 553.86 million) |
| Net increase in cash & cash equivalents | CNY 685.74 million | -38.55% YoY |
| Total liabilities | CNY 19.32 billion | Up from CNY 17.92 billion (+7.8%) |
| Current ratio | - | Not disclosed |
| Quick ratio | - | Not disclosed |
- Operating cash generation strengthened: operating cash inflows rose to CNY 660.70m, a 19.29% increase year-on-year, supporting near-term funding needs despite lower net cash growth.
- Net cash growth slowed materially: cash and equivalents increased by CNY 685.74m but this was a 38.55% decline relative to the prior period, reducing cushion buildup.
- Liability expansion: total liabilities rose by ~7.8% to CNY 19.32bn, which raises leverage pressure unless matched by asset or equity growth.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Valuation Analysis
Tianshui Huatian's valuation profile for fiscal year ending December 31, 2024, and the trailing twelve months (TTM) shows a high multiple relative to earnings and modest earnings yield, with market-cap context as of late 2025.- Fiscal year 2024 P/E: 60.37 - indicates investors were paying CNY 60.37 for each CNY 1 of reported 2024 earnings.
- 2024 earnings yield: ~1.66% (1 / 60.37).
- Revenue per share (2024): CNY 4.51.
- TTM P/E: 64.52 - modest increase versus FY2024 P/E, signalling either slower recent earnings growth or higher share price movement.
- TTM earnings yield: ~1.55% (1 / 64.52).
- Market capitalization (as of 12-Dec-2025): CNY 35.88 billion.
| Metric | Value | Period / Date |
|---|---|---|
| P/E Ratio | 60.37 | Fiscal year ended Dec 31, 2024 |
| Earnings Yield | ~1.66% | Fiscal year ended Dec 31, 2024 |
| Revenue per Share | CNY 4.51 | Fiscal year 2024 |
| TTM P/E Ratio | 64.52 | Trailing twelve months (most recent) |
| TTM Earnings Yield | ~1.55% | Trailing twelve months (most recent) |
| Market Capitalization | CNY 35.88 billion | As of 12-Dec-2025 |
- High P/E and low earnings yield imply premium expectations for future growth or limited near-term profitability relative to price.
- Revenue per share of CNY 4.51 provides a sales baseline vs. price and earnings; compare to peers to gauge relative pricing intensity.
- Rising P/E from FY2024 (60.37) to TTM (64.52) suggests share price appreciation outpacing earnings growth during the TTM window.
- Market cap of CNY 35.88 billion (12-Dec-2025) positions the company within its market-cap peer group - use alongside profit margins and growth rates for fuller valuation context.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Risk Factors
Tianshui Huatian Technology presents several measurable financial risks that investors should weigh carefully. Key profitability, liquidity, and leverage metrics point to operational and balance-sheet vulnerabilities.
- Net profit margin: 1.83% - low conversion of revenue into net income, signaling thin profitability.
- Return on assets (ROA): 0.61% - limited effectiveness in using assets to generate profit.
- Return on equity (ROE): 1.30% - weak returns for shareholders relative to equity base.
- Cash ratio: 0.569 - less than 1.0, indicating potential difficulty covering short-term obligations with cash and cash equivalents alone.
- Debt-to-equity ratio: 70.53% - moderate leverage that increases financial risk if earnings remain weak.
- Q1 2025 net profit margin: negative - the company reported a loss in Q1 2025, raising near-term performance concerns.
- Interest coverage ratio: not available - inability to assess interest-payment capacity increases uncertainty around solvency under stress.
| Metric | Value | Implication |
|---|---|---|
| Net Profit Margin (latest annual) | 1.83% | Marginal profitability - limited buffer for downturns or higher costs |
| ROA | 0.61% | Low asset efficiency |
| ROE | 1.30% | Low shareholder returns |
| Cash Ratio | 0.569 | Potential short-term liquidity strain |
| Debt-to-Equity | 70.53% | Moderate leverage - interest and refinancing risk if profits decline |
| Q1 2025 Net Profit Margin | Negative | Reported quarterly loss - signals near-term operational challenges |
| Interest Coverage Ratio | Not available | Limits assessment of ability to service debt |
Primary risk drivers include persistent thin margins, low returns on assets and equity, suboptimal cash liquidity, and leverage that could exacerbate stress during earnings volatility. For additional context on company direction and strategic priorities, see Mission Statement, Vision, & Core Values (2026) of Tianshui Huatian Technology Co., Ltd.
Tianshui Huatian Technology Co., Ltd. (002185.SZ) - Growth Opportunities
Tianshui Huatian Technology Co., Ltd. (002185.SZ) is positioning for accelerated expansion through targeted revenue goals, strategic capital allocation, technology investment, external growth via M&A, shareholder returns, and sustainability commitments. The company's declared 2025 revenue target of CNY 15.9 billion frames near-term operational priorities and capital deployment.- 2025 revenue target: CNY 15.9 billion - implies required CAGR from prior-year baseline to hit the target and guides capacity planning.
- R&D commitment: CNY 200 million allocated to new technologies focused on product efficiency improvements and yield enhancement.
- M&A budget: CNY 500 million reserved for potential acquisitions to broaden product lines, secure supply chain inputs, or add market share.
- Sustainability target: 25% reduction in carbon emissions over the next five years, with investments likely in energy efficiency and process modernization.
- Shareholder returns: initiated share buyback program to support share price and return capital to investors.
- Corporate infrastructure: new corporate headquarters planned for completion by 2025 to consolidate operations and support scale.
| Item | Amount (CNY) | Timeframe / Target |
|---|---|---|
| 2025 Revenue Target | 15,900,000,000 | FY2025 |
| R&D Investment | 200,000,000 | Multi-year, focused on efficiency tech |
| M&A Budget | 500,000,000 | Available for near-term acquisitions |
| Carbon Emissions Reduction Target | 25% | Next 5 years |
| Share Buyback Program | Not disclosed (program initiated) | Ongoing |
| New Headquarters | Project CapEx (internal) | Completion expected by 2025 |
- Operational impact: R&D-driven yield and product-efficiency improvements should improve gross margins if commercialization succeeds.
- Financial flexibility: CNY 500 million for M&A plus buyback activity indicates balanced capital allocation between growth and returns.
- ESG and cost synergy: 25% emissions reduction aligns with potential energy-cost savings and regulatory risk mitigation.
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