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Baiwang Co., Ltd. logo

Baiwang Co., Ltd.

6657.HK

HKSETechnologySoftware - Application

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Latest quote

HK$14.50

+HK$0.50 · +3.57%

Aug 24, 2:04 PM HKT

6657.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Operating in China, Baiwang Co., Ltd., established in Beijing in 2015, provides businesses with comprehensive digital transformation services through its proprietary Baiwang Cloud platform. Its core offerings include a suite of Software-as-a-Service (SaaS) products focused on digitalizing financial and tax processes, such as electronic invoice compliance management, smart financial and tax administration, and intelligent supply chain collaboration. Additionally, the company delivers data-driven intelligence solutions, notably in areas like targeted digital marketing and robust risk assessment.

Industry
Software - Application
Sector
Technology
Headquarters
CN
CEO
Jie Chen
Listed since
Jul 9, 2024
Employees
754

Market position

Day range

Current HK$14.50

52-week range

Current HK$14.50

Open
HK$14.00
Previous close
HK$14.00
Volume
23.3K
0.12× average
Average volume
192.33K
Average daily volume
Market cap
3.28B HKD
Beta
0.52
Market reference 1
50-day average
HK$13.6766
+6.02% above average
200-day average
HK$14.9292
-2.87% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
3.68B CNY
P/E (TTM)
-291.05×
P/B (TTM)
2.99×
P/S (TTM)
3.85×
EV / EBITDA
-175.22×
Earnings yield
-0.24%
Free cash flow yield
-3.84%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
42.29%
Operating margin
-4.65%
Net margin
-1.32%
Return on equity
-1.03%
Return on assets
-0.85%
Return on invested capital
-3.54%

Financial health

Debt / equity
0.01×
Current ratio
3.77×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends70%9%-53%-114%Gross margin, FY2021: 54.60%Gross margin, FY2022: 45.03%Gross margin, FY2023: 39.56%Gross margin, FY2024: 39.96%Gross margin, FY2025: 42.29%Operating margin, FY2021: -43.67%Operating margin, FY2022: -21.37%Operating margin, FY2023: -42.79%Operating margin, FY2024: -30.77%Operating margin, FY2025: -4.65%Net margin, FY2021: -98.50%Net margin, FY2022: -29.20%Net margin, FY2023: -50.21%Net margin, FY2024: -76.03%Net margin, FY2025: -1.32%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 54.60%. Gross margin FY2022 45.03%. Gross margin FY2023 39.56%. Gross margin FY2024 39.96%. Gross margin FY2025 42.29%. Operating margin FY2021 -43.67%. Operating margin FY2022 -21.37%. Operating margin FY2023 -42.79%. Operating margin FY2024 -30.77%. Operating margin FY2025 -4.65%. Net margin FY2021 -98.50%. Net margin FY2022 -29.20%. Net margin FY2023 -50.21%. Net margin FY2024 -76.03%. Net margin FY2025 -1.32%.

Income trends

Revenue

728.6M CNY+10.53%

Operating income

−33.86M CNY+83.31%

Net income

−9.63M CNY+98.08%
Income trends across reported periods851.58M CNY359.65M CNY−132.27M CNY−624.19M CNYRevenue, FY2021: 453.76M CNYRevenue, FY2022: 525.77M CNYRevenue, FY2023: 713M CNYRevenue, FY2024: 659.21M CNYRevenue, FY2025: 728.6M CNYOperating income, FY2021: −198.15M CNYOperating income, FY2022: −112.35M CNYOperating income, FY2023: −305.11M CNYOperating income, FY2024: −202.82M CNYOperating income, FY2025: −33.86M CNYNet income, FY2021: −446.94M CNYNet income, FY2022: −153.5M CNYNet income, FY2023: −357.98M CNYNet income, FY2024: −501.21M CNYNet income, FY2025: −9.63M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 453.76M CNY. Revenue FY2022 525.77M CNY. Revenue FY2023 713M CNY. Revenue FY2024 659.21M CNY. Revenue FY2025 728.6M CNY. Operating income FY2021 −198.15M CNY. Operating income FY2022 −112.35M CNY. Operating income FY2023 −305.11M CNY. Operating income FY2024 −202.82M CNY. Operating income FY2025 −33.86M CNY. Net income FY2021 −446.94M CNY. Net income FY2022 −153.5M CNY. Net income FY2023 −357.98M CNY. Net income FY2024 −501.21M CNY. Net income FY2025 −9.63M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue728.6M CNY659.21M CNY713M CNY525.77M CNY453.76M CNY
Cost of goods sold420.46M CNY395.79M CNY430.97M CNY374.65M CNY299.13M CNY
Gross profit308.13M CNY263.42M CNY282.03M CNY236.75M CNY247.75M CNY
Research and development135.03M CNY179.93M CNY187.96M CNY144.28M CNY159.41M CNY
Selling, general, and administrative193.53M CNY251.97M CNY55.78M CNY49.15M CNY34.81M CNY
Operating expenses341.99M CNY466.24M CNY587.14M CNY326.64M CNY480.57M CNY
Interest income3.44M CNY2.45M CNY6.88M CNY10.31M CNY10.58M CNY
Interest expense503.62K CNY361K CNY1.02M CNY1.57M CNY243K CNY
Depreciation and amortization3.97M CNY4.59M CNY18.48M CNY4.28M CNY6.33M CNY
Operating income−33.86M CNY−202.82M CNY−305.11M CNY−112.35M CNY−198.15M CNY
Net income−9.63M CNY−501.21M CNY−357.98M CNY−153.5M CNY−446.94M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.07

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.06-0.06-0.18-0.3Q1 '25Q3 '25Q1 '26
Q1 2025, reported Mar 31, 2025: actual -0.255, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 20, 2025: actual 0.022, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 24, 2026: actual -0.066, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates440.83M415.19M389.56M363.93MQ1 '25Q3 '25Q1 '26
Q1 2025, reported Mar 31, 2025: actual 401.76M HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 20, 2025: actual 380.89M HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 24, 2026: actual 423.87M HKD, estimate —, surprise —, Comparison unavailable.

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