Hithink RoyalFlush Information Network Co Ltd

Hithink RoyalFlush Information Network Co Ltd maintains a pristine capital structure with zero long-term debt and a debt-to-equity ratio of 0.0. The balance sheet is robust, featuring a current ratio of 2.27, which indicates strong short-term liquidity coverage. Total assets stand at 15.83 billion CNY, supported by total equity of 9.49 billion CNY. The company generates substantial operating cash flow of 3.77 billion CNY, resulting in free cash flow of 1.47 billion CNY after capital expenditures of 142.4 million CNY. This cash generation capability underpins a market capitalization of 170.71 billion CNY, reflecting significant investor valuation despite the absence of leverage.

Profitability metrics are exceptional, with a return on equity (ROE) of 34.22% and a return on assets (ROA) of 20.52%. The company reported net income of 3.21 billion CNY on revenue of 6.03 billion CNY, yielding a net margin of approximately 53.2%. Operating income was 3.61 billion CNY, demonstrating high operational efficiency. While cohort medians are not provided for direct comparison, these returns significantly exceed typical industry benchmarks for financial services, suggesting a high-margin business model likely driven by proprietary technology or platform advantages.

Revenue surged 44% year-over-year to CNY 6.03 billion in FY2026, demonstrating robust top-line growth momentum.

Net income jumped 75.8% to CNY 3.21 billion, significantly outpacing revenue growth and indicating strong operating leverage.

Analysts project 25.4% upside to a mean price target of CNY 264.07, reflecting strong institutional confidence.

The stock trades at a high 17.99x price-to-book ratio, implying significant valuation risk compared to tangible assets.

Free cash flow declined sharply to CNY 57.6 million in FY2024 before recovering, showing historical volatility in cash generation.

Long-term debt increased from zero in FY2022 to CNY 1.87 million in FY2023, introducing new leverage risk.

Revenue ¥1.05B, +40,8% YoY; Operating income +110,0% YoY.

• ▍Revenue ¥1.05B, +40,8% YoY
• ▍Operating income +110,0% YoY
• ▍Net income +112,6% YoY
• ▍Net margin 24.3%

Revenue ¥2.77B, +49,5% YoY; Operating income +72,8% YoY.

• ▍Revenue ¥2.77B, +49,5% YoY
• ▍Operating income +72,8% YoY
• ▍Net income +66,6% YoY
• ▍Net margin 70.6%

Revenue ¥1.48B, +56,7% YoY; Operating income +160,0% YoY.

• ▍Revenue ¥1.48B, +56,7% YoY
• ▍Operating income +160,0% YoY
• ▍Net income +144,5% YoY
• ▍Net margin 47.5%

Revenue ¥1.03B, +33,8% YoY; Operating income +99,3% YoY.

• ▍Revenue ¥1.03B, +33,8% YoY
• ▍Operating income +99,3% YoY
• ▍Net income +90,6% YoY
• ▍Net margin 32.5%

Revenue ¥748.2M; Operating income ¥132.3M.

• ▍Revenue ¥748.2M
• ▍Operating income ¥132.3M
• ▍Net margin 16.1%

Revenue ¥1.85B; Operating income ¥1.26B.

• ▍Revenue ¥1.85B
• ▍Operating income ¥1.26B
• ▍Net margin 63.3%

Revenue ¥945.3M; Operating income ¥313.7M.

• ▍Revenue ¥945.3M
• ▍Operating income ¥313.7M
• ▍Net margin 30.5%

Revenue ¥770.6M; Operating income ¥200.0M.

• ▍Revenue ¥770.6M
• ▍Operating income ¥200.0M
• ▍Net margin 22.8%

Revenue ¥6.03B, +44,0% YoY; Operating income +83,7% YoY.

• ▍Revenue ¥6.03B, +44,0% YoY
• ▍Operating income +83,7% YoY
• ▍Net income +75,8% YoY
• ▍Free cash flow +202,9% YoY
• ▍Net margin 53.2%

Revenue ¥4.19B, +17,5% YoY; Operating income +30,1% YoY.

• ▍Revenue ¥4.19B, +17,5% YoY
• ▍Operating income +30,1% YoY
• ▍Net income +30,0% YoY
• ▍Free cash flow +744,1% YoY
• ▍Net margin 43.5%

Revenue ¥3.56B, +0,1% YoY; Operating income −17,9% YoY.

• ▍Revenue ¥3.56B, +0,1% YoY
• ▍Operating income −17,9% YoY
• ▍Net income −17,1% YoY
• ▍Free cash flow −88,4% YoY
• ▍Net margin 39.3%

Revenue ¥3.56B, +1,4% YoY; Operating income −12,1% YoY.

• ▍Revenue ¥3.56B, +1,4% YoY
• ▍Operating income −12,1% YoY
• ▍Net income −11,5% YoY
• ▍Free cash flow −54,1% YoY
• ▍Net margin 47.5%