Breaking Down Beijing SuperMap Software Co., Ltd. Financial Health: Key Insights for Investors

Investors scanning Beijing SuperMap Software Co., Ltd. (300036.SZ) will want to weigh a mixed set of facts: Q3 2025 revenue rose to CNY 364.54 million (+16.99% QoQ) while TTM revenue sits at CNY 1.52 billion (‑8.43% YoY) after 2024 annual revenue of CNY 1.50 billion (‑24.30% YoY); profitability metrics show a half‑year net loss of CNY 193.4 million, EPS TTM of ‑0.30, ROE ‑6.19% and ROA ‑2.17% with an operating margin of ‑19.77%; valuation and market signals include a market cap of CNY 8.02 billion, share price CNY 16.64 (16 Dec 2025), P/S 5.29 and trailing P/E 155.89, while leverage and liquidity read conservatively with debt/equity 0.01, current ratio 2.13 and quick ratio 1.83 but stressed coverage metrics such as interest coverage ‑136.92 and EV/EBITDA ‑61.91; strategic data points for growth include roughly RMB 200 million in R&D spend in 2024, plans to expand from 30 to 50 countries and to double international revenue from RMB 500 million to RMB 1 billion, 75 patents filed in 2023 and sustainability targets including a 30% emissions reduction-read on for a detailed breakdown of these figures and what they mean for risk, valuation and upside.

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Revenue Analysis

• Q3 2025 revenue: CNY 364.54 million (+16.99% vs prior quarter)
• TTM revenue: CNY 1.52 billion (-8.43% YoY)
• FY2024 revenue: CNY 1.50 billion (-24.30% YoY)
• Revenue per employee: ~CNY 423,640 (3,581 employees)
• Market cap: CNY 8.02 billion; share price: CNY 16.64 (as of 2025-12-16)
• Price-to-sales (P/S): 5.29

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Profitability Metrics

• Net loss (H1 2025): CNY 193.4 million - produces a negative net profit margin for the half-year.
• Q1 2025 results: Net loss CNY 43.54 million on revenue CNY 234 million, a 21.53% YoY revenue decline.
• Trailing twelve months (TTM) EPS: -0.30 yuan per share.
• Operating margin (TTM or latest reported): -19.77% - indicates operating expenses and cost structure exceed gross profits.
• Return on equity (ROE): -6.19%.
• Return on assets (ROA): -2.17%.
• Trailing P/E ratio: 155.89 (despite negative EPS, market-implied valuation remains elevated).

• Negative ROE and ROA indicate shareholders' capital and company assets are not generating positive returns in the reported period.
• High trailing P/E (155.89) alongside negative EPS suggests market expectations for future recovery or growth despite current losses.
• Operating margin of -19.77% highlights operational cost pressures; improved cost control or gross margin expansion would be required to move to profitability.
• Revenue contraction (-21.53% YoY in Q1 2025) compounds profitability challenges; revenue stabilization or growth is critical.

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Debt vs. Equity Structure

A focused look at Beijing SuperMap Software Co., Ltd.'s capital structure and short- to medium-term solvency reveals a decidedly conservative use of leverage paired with stress in profitability and coverage metrics.

• Debt-to-Equity Ratio: 0.01 - extremely low leverage, meaning shareholders' equity overwhelmingly funds operations.
• Current Ratio: 2.13 - adequate short-term liquidity; current assets are more than double current liabilities.
• Quick Ratio: 1.83 - strong near-cash coverage of immediate liabilities when inventories are excluded.

• Low leverage (D/E = 0.01) reduces insolvency risk and provides flexibility for strategic borrowing if needed.
• Strong current and quick ratios (2.13 and 1.83) suggest short-term obligations are well-backed by liquid assets.
• Negative EBITDA and extremely negative interest coverage (EV/EBITDA = -61.91; interest coverage = -136.92) point to operational profitability issues - investors should focus on earnings recovery rather than balance sheet distress.
• EV/Revenue of 4.34 implies the market assigns a growth or strategic premium to revenue despite current earnings weakness.

For broader context on shareholder composition and recent investor activity see: Exploring Beijing SuperMap Software Co., Ltd. Investor Profile: Who's Buying and Why?

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Liquidity and Solvency

Key liquidity and solvency metrics for Beijing SuperMap Software Co., Ltd. (300036.SZ) provide a mixed picture: healthy short-term coverage but strained profitability and negative operating earnings metrics that affect interest-servicing capacity and market valuation multiples.

• Current ratio: 2.13 - ample short-term assets relative to current liabilities.
• Quick ratio: 1.83 - strong immediate liquidity when inventories and non-liquid items are excluded.
• Interest coverage ratio: -136.92 - operating income is insufficient to cover interest expenses (negative operating earnings).
• Debt-to-equity ratio: 0.01 - extremely low financial leverage; minimal reliance on debt financing.
• Enterprise value / Revenue: 4.34 - the market values the company at roughly 4.34x annual sales.
• Enterprise value / EBITDA: -61.91 - negative EBITDA producing an inverted (negative) EV/EBITDA multiple.

Practical considerations for investors:

• Strong liquidity ratios reduce short-term solvency risk despite operational losses.
• Extremely low debt levels limit default risk but may indicate conservative capital structure or underleveraged growth potential.
• Negative interest coverage and EV/EBITDA signal operating profitability issues - a focus area for future earnings recovery.
• Market EV/Revenue of 4.34 implies growth expectations; reconcile this with negative EBITDA when assessing valuation.

For corporate positioning and strategic context, see: Mission Statement, Vision, & Core Values (2026) of Beijing SuperMap Software Co., Ltd.

Beijing SuperMap Software Co., Ltd. (300036.SZ) Valuation Analysis

Key market valuation metrics as of December 16, 2025 provide a snapshot of how investors price Beijing SuperMap Software Co., Ltd. relative to sales, earnings and operating performance. The following section breaks down those metrics and highlights implications for investor expectations and downside risks.

• Market capitalization: CNY 8.02 billion
• Share price: CNY 16.64
• Price-to-Sales (P/S): 5.29
• Trailing Price-to-Earnings (P/E): 155.89
• Enterprise Value / Revenue (EV/Revenue): 4.34
• Enterprise Value / EBITDA (EV/EBITDA): -61.91
• Enterprise Value / EBIT (EV/EBIT): Not available

The metrics indicate elevated top-line valuation multiples (P/S and EV/Revenue) combined with very high trailing P/E and a negative EV/EBITDA - a profile consistent with a growth story priced for future profitability but currently reporting weak or negative operating cash generation.

Investor implications and focal points for further diligence:

• High P/S and EV/Revenue: Market prices premium for revenue growth or strategic positioning in GIS/enterprise mapping - validate revenue growth sustainability and gross margin trends.
• Very high trailing P/E: Trailing EPS near zero or negative; investors implicitly value future EPS expansion - stress-test scenarios where margins recover versus prolonged losses.
• Negative EV/EBITDA (-61.91): Confirms current negative operating cash generation; verify drivers (R&D, sales expansion, one-offs) and timeline to positive EBITDA.
• Missing EV/EBIT: Seek company disclosures and analyst models to fill this gap, as EV/EBIT would help compare operating returns across peers with different depreciation/amortization profiles.
• Balance between growth premium and execution risk: The ~CNY 8.02B market cap anchors the absolute dollar risk; quantify break-even revenue/margin scenarios for valuation support.

Relevant corporate context and investor resources can be found here: Mission Statement, Vision, & Core Values (2026) of Beijing SuperMap Software Co., Ltd.

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Risk Factors

• Significant half-year net loss: CNY 193.4 million (H1 2025).
• Negative profitability metrics: ROE -6.19%; ROA -2.17%.
• Weak operating performance: Operating margin -19.77%.
• Market valuation vs. earnings: Trailing P/E 155.89 despite losses.
• Negative EV/EBITDA: -61.91, reflecting negative EBITDA and valuation distortions.
• Interest coverage severely negative at -136.92, indicating operating income cannot cover interest expense.

Beijing SuperMap Software Co., Ltd. (300036.SZ) - Growth Opportunities

• R&D commitment: RMB 200 million invested in 2024 to advance GIS platforms, cloud-native capabilities, and domain-specific solutions.
• International expansion: increase from operations in 30 countries (2023) to target 50 countries by end-2024.
• International revenue goal: grow from RMB 500 million to RMB 1 billion within 12 months (100% YoY target for international sales).
• Sustainability integration: 50% of software solutions included sustainability features as of 2023.
• Carbon reduction target: operational emissions planned to fall by 30% by end-2024 via eco-friendly initiatives.
• Intellectual property: 75 patents filed in 2023, signaling active patenting and product protection.

• Commercialization levers: leverage RMB 200M R&D to convert core GIS tech into cloud, SaaS and vertical solutions (smart city, utilities, environment).
• Market entry approach: prioritize strategic partnerships, local channel development, and regional data-compliance adaptations to reach 50 countries.
• Revenue scaling tactics: focus on subscription models, recurring cloud fees, and cross-selling to lift international revenue from RMB 500M to RMB 1B.
• Sustainability productization: embed environmental analytics and reporting across offerings to capture demand from conservation-focused sectors.
• Operational decarbonization: implement energy-efficiency, green data centers, and travel/supply-chain changes to meet -30% emissions.
• IP strategy: convert 75 filed patents into protected product modules and licensing opportunities to strengthen monetization and defensibility.