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SHA/600941 (SHA/600941)

Shanghai Stock Exchange: SHA/600941 · CNY

CN¥99.4

-1.32 (-1.3%)· Recorded snapshot

Market cap	1.5T
Revenue (ttm)	1T
Net income (ttm)	127.9B
EPS (ttm)	CN¥5.82
P/E (trailing)	17.1x
P/E (forward)	11.4x
Dividend	CN¥4.71 (4.74%)
Volume	10,044,840
Beta	0.26

Market data

Price

Recent price action with selectable time range.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-21
Employees	457,000
Employees change	-4,345
Employees growth	-0.94%
Enterprise value	CNY 1.2T
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-09-30
First seen	2026-05-10
Fiscal year end	December
Founded	1997
Industry	Telecom Services
Is primary listing	No
ISIN number	CNE1000055G1
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Market cap	CNY 1.5T
Next earnings date	2026-10-28
Price	CNY 99.38
Price currency	CNY
Sector	Communication Services
SIC code	4812
Stock price date	2026-10-28
Symbol	sha/600941

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-21

Employees

457,000

Employees change

-4,345

Employees growth

-0.94%

Enterprise value

CNY 1.2T

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-09-30

First seen

2026-05-10

Fiscal year end

December

Founded

1997

Industry

Telecom Services

Is primary listing

ISIN number

CNE1000055G1

Last earnings date

2026-10-21

Last refreshed

2026-10-28

Market cap

CNY 1.5T

Next earnings date

2026-10-28

Price

CNY 99.38

Price currency

CNY

Sector

Communication Services

SIC code

4812

Stock price date

2026-10-28

Symbol

sha/600941

Metric	Value
Average P/E ratio (10Y)	10.41x
Average P/E ratio (3Y)	11.33x
Average P/E ratio (5Y)	10.16x
Earnings yield	5.85%
EV/Earnings	9.72x
EV/EBIT	9.54x
EV/EBITDA	4.53x
EV/FCF	10.91x
EV/Sales	1.21x
FCF / EV yield	9.17%
FCF yield	7.77%
Forward P/E	11.43x
Graham number	135.91735
Graham upside	36.77%
Industry P/E	47.68x
Lynch fair value	CNY 43.30
Lynch upside	-56.43%
P/(FCF - SBC) ratio	12.9x
P/(OCF - SBC) ratio	5.71x
P/B ratio	1.05x
P/E ratio	17.08x
P/FCF ratio	12.87x
P/OCF ratio	5.71x
P/S ratio	1.42x
Price / tangible book value	1.1x
Price/EBITDA ratio	6.03x
Sector forward P/E	15.74x
Sector P/E	52.47x

Metric

Value

Average P/E ratio (10Y)

10.41x

Average P/E ratio (3Y)

11.33x

Average P/E ratio (5Y)

10.16x

Earnings yield

5.85%

EV/Earnings

9.72x

EV/EBIT

9.54x

EV/EBITDA

4.53x

EV/FCF

10.91x

EV/Sales

1.21x

FCF / EV yield

9.17%

FCF yield

7.77%

Forward P/E

11.43x

Graham number

135.91735

Graham upside

36.77%

Industry P/E

47.68x

Lynch fair value

CNY 43.30

Lynch upside

-56.43%

P/(FCF - SBC) ratio

12.9x

P/(OCF - SBC) ratio

5.71x

P/B ratio

1.05x

P/E ratio

17.08x

P/FCF ratio

12.87x

P/OCF ratio

5.71x

P/S ratio

1.42x

Price / tangible book value

1.1x

Price/EBITDA ratio

6.03x

Sector forward P/E

15.74x

Sector P/E

52.47x

Metric	Value
EBIT margin	12.66%
EBITDA margin	23.49%
Effective tax rate	21.02%
FCF margin	11.01%
Gross margin	27.32%
Operating margin	12.66%
Pretax margin	15.67%
Profit margin	12.35%
Profit per employee	CNY 277,320
Profitable quarters	56
Profitable years	29
Revenue per employee	CNY 2.2M
ROA (5Y)	4.47%
ROCE	8.87%
ROE (5Y)	10.17%
ROIC	8.73%
ROIC (5Y)	10.99%
SBC / revenue	0.02%
Tax / revenue	3.29%

Metric

Value

EBIT margin

12.66%

EBITDA margin

23.49%

Effective tax rate

21.02%

FCF margin

11.01%

Gross margin

27.32%

Operating margin

12.66%

Pretax margin

15.67%

Profit margin

12.35%

Profit per employee

CNY 277,320

Profitable quarters

Profitable years

Revenue per employee

CNY 2.2M

ROA (5Y)

4.47%

ROCE

8.87%

ROE (5Y)

10.17%

ROIC

8.73%

ROIC (5Y)

10.99%

SBC / revenue

0.02%

Tax / revenue

3.29%

Metric	Value
EPS growth	-11.08%
EPS growth (Q)	-49.08%
EPS growth (QoQ)	-45.17%
EPS growth 3Y	-1.85%
EPS growth 5Y	1.11%
EPS growth years	0
FCF growth	18.2%
FCF growth (Q)	150.3%
FCF growth (QoQ)	344.82%
FCF growth 3Y	-0.83%
Gross profit growth	-7.2%
Gross profit growth (Q)	-31.98%
Gross profit growth 3Y	0.06%
Gross profit growth 5Y	109.39%
Net income growth	-10.43%
Net income growth (Q)	-49.14%
Net income growth (QoQ)	-45.02%
Net income growth 3Y	-1.14%
Net income growth 5Y	2.48%
Net income growth years	0
OCF growth	1.76%
OCF growth (Q)	34.13%
OCF growth (QoQ)	62.27%
OCF growth 3Y	-4.02%
Operating income growth	-11.5%
Operating income growth (Q)	-49.62%
Operating income growth 3Y	-3.94%
Operating income growth 5Y	5.04%
Revenue growth	-0.78%
Revenue growth (Q)	-3.44%
Revenue growth (QoQ)	-10.79%
Revenue growth 10Y	4.13%
Revenue growth 3Y	1.54%
Revenue growth 5Y	4.22%
Revenue growth years	7

Metric

Value

EPS growth

-11.08%

EPS growth (Q)

-49.08%

EPS growth (QoQ)

-45.17%

EPS growth 3Y

-1.85%

EPS growth 5Y

1.11%

EPS growth years

FCF growth

18.2%

FCF growth (Q)

150.3%

FCF growth (QoQ)

344.82%

FCF growth 3Y

-0.83%

Gross profit growth

-7.2%

Gross profit growth (Q)

-31.98%

Gross profit growth 3Y

0.06%

Gross profit growth 5Y

109.39%

Net income growth

-10.43%

Net income growth (Q)

-49.14%

Net income growth (QoQ)

-45.02%

Net income growth 3Y

-1.14%

Net income growth 5Y

2.48%

Net income growth years

OCF growth

1.76%

OCF growth (Q)

34.13%

OCF growth (QoQ)

62.27%

OCF growth 3Y

-4.02%

Operating income growth

-11.5%

Operating income growth (Q)

-49.62%

Operating income growth 3Y

-3.94%

Operating income growth 5Y

5.04%

Revenue growth

-0.78%

Revenue growth (Q)

-3.44%

Revenue growth (QoQ)

-10.79%

Revenue growth 10Y

4.13%

Revenue growth 3Y

1.54%

Revenue growth 5Y

4.22%

Revenue growth years

Metric	Value
Capital expenditures	CNY -143.1B
Depreciation and amortization	CNY 112.1B
EBIT	CNY 131.2B
EBITDA	CNY 243.3B
EPS	CNY 5.82
Financing cash flow	CNY -117.9B
Free cash flow	CNY 114B
Free cash flow minus SBC	CNY 113.8B
Gross profit	CNY 283B
Income taxes	CNY 34.1B
Investing cash flow	CNY -138.1B
Net borrowing	CNY -33.7B
Net cash flow	CNY 40M
Net income	CNY 127.9B
Operating cash flow minus SBC	CNY 257B
Operating income	CNY 131.2B
Revenue	CNY 1T
Stock-based compensation	CNY 200M

Metric

Value

Capital expenditures

CNY -143.1B

Depreciation and amortization

CNY 112.1B

EBIT

CNY 131.2B

EBITDA

CNY 243.3B

EPS

CNY 5.82

Financing cash flow

CNY -117.9B

Free cash flow

CNY 114B

Free cash flow minus SBC

CNY 113.8B

Gross profit

CNY 283B

Income taxes

CNY 34.1B

Investing cash flow

CNY -138.1B

Net borrowing

CNY -33.7B

Net cash flow

CNY 40M

Net income

CNY 127.9B

Operating cash flow minus SBC

CNY 257B

Operating income

CNY 131.2B

Revenue

CNY 1T

Stock-based compensation

CNY 200M

Metric	Value
Altman Z-Score	2.8
Book value per share	CNY 64.38
Debt / EBITDA	0.36
Debt / equity	0.07
Debt / FCF	0.86
Goodwill	CNY 3.8B
Interest coverage	36.13
Long-term assets	CNY 1.6T
Long-term liabilities	CNY 78.8B
Net cash (debt)	CNY 230B
Net cash / market cap	15.66%
Net cash growth	-5.76%
Net debt / EBITDA	-0.95
Net debt / equity	-0.16
Net debt / FCF	-2.02
Piotroski F-Score	3
Property, plant and equipment	CNY 822.4B
Shareholders' equity	CNY 1.4T
Tangible book value	CNY 1.3T
Tangible book value per share	CNY 61.64
Total assets	CNY 2.1T
Total cash	CNY 328.5B
Total debt	CNY 98.6B
Total liabilities	CNY 713.4B
WACC	5.49%

Metric

Value

Altman Z-Score

2.8

Book value per share

CNY 64.38

Debt / EBITDA

0.36

Debt / equity

0.07

Debt / FCF

0.86

Goodwill

CNY 3.8B

Interest coverage

36.13

Long-term assets

CNY 1.6T

Long-term liabilities

CNY 78.8B

Net cash (debt)

CNY 230B

Net cash / market cap

15.66%

Net cash growth

-5.76%

Net debt / EBITDA

-0.95

Net debt / equity

-0.16

Net debt / FCF

-2.02

Piotroski F-Score

Property, plant and equipment

CNY 822.4B

Shareholders' equity

CNY 1.4T

Tangible book value

CNY 1.3T

Tangible book value per share

CNY 61.64

Total assets

CNY 2.1T

Total cash

CNY 328.5B

Total debt

CNY 98.6B

Total liabilities

CNY 713.4B

WACC

5.49%

Metric	Value
Current assets	CNY 545.1B
Current liabilities	CNY 634.6B
Current ratio	0.86
Net working capital	CNY -375.5B
Quick ratio	0.77
Working capital	CNY -89.5B
Working capital turnover	-12.86

Metric

Value

Current assets

CNY 545.1B

Current liabilities

CNY 634.6B

Current ratio

0.86

Net working capital

CNY -375.5B

Quick ratio

0.77

Working capital

CNY -89.5B

Working capital turnover

-12.86

Metric	Value
Buyback yield / dilution	-0.74%
Dividend growth	-1.73%
Dividend growth (3Y)	3.87%
Dividend growth years	3
Dividend payment date	2026-09-30
Dividend payment years	5
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 4.71
Dividend yield	4.74%
Ex-dividend date	2026-09-30
Last dividend	CNY 2.51
Payout ratio	80.47%
Shareholder yield	4%

Metric

Value

Buyback yield / dilution

-0.74%

Dividend growth

-1.73%

Dividend growth (3Y)

3.87%

Dividend growth years

Dividend payment date

2026-09-30

Dividend payment years

Dividend payout frequency

Semi-Annual

Dividend per share

CNY 4.71

Dividend yield

4.74%

Ex-dividend date

2026-09-30

Last dividend

CNY 2.51

Payout ratio

80.47%

Shareholder yield

Metric	Value
150-day SMA	CNY 95.87
1D price change	-1.31%
1M price change	1.92%
1M total return	4.62%
1W price change	2.83%
1W total return	2.83%
1Y price change	-6.92%
1Y return CAGR	-2.31%
1Y total return	-2.31%
20-day SMA	CNY 99.15
200-day SMA	CNY 96.04
3M price change	5.22%
3M total return	8.01%
3Y price change	6.92%
3Y return CAGR	6.99%
3Y total return	22.46%
50-day SMA	CNY 98.27
50-day SMA vs 200-day SMA	50over200
52-week high	CNY 109.61
52-week high date	2025-11-26
52-week low	CNY 85.38
52-week low date	2026-06-29
6M price change	4%
6M total return	9.15%
All-time high	CNY 119.51
All-time high date	2024-12-31
All-time low	CNY 57.58
All-time low date	2022-01-06
Average true range (ATR)	CNY 2.15
Average volume	12.2M
Beta (5Y)	0.26
Change from 52-week high	-9.33%
Change from 52-week low	16.4%
Change from all-time high	-16.89%
Change from all-time low	72.49%
Change from open	-1.26%
Day's gap	-0.05%
Dollar volume	CNY 998.3M
High price	CNY 101.48
Low price	CNY 99.20
Monthly RSI	50.43
Open price	CNY 100.65
Position in 52-week range	7.89%
Previous close	CNY 100.70
Price vs 150-day SMA	3.6%
Price vs 20-day SMA	0.17%
Price vs 200-day SMA	3.42%
Price vs 50-day SMA	1.07%
Relative volume	0.83
RSI	50.93
Sharpe ratio	-0.35
Sharpe ratio (3Y)	0.18
Sortino ratio	-0.15
Sortino ratio (3Y)	0.57
Volume	10M
Weekly RSI	53.81
YTD price change	-1.71%
YTD total return	3.16%

Metric

Value

150-day SMA

CNY 95.87

1D price change

-1.31%

1M price change

1.92%

1M total return

4.62%

1W price change

2.83%

1W total return

2.83%

1Y price change

-6.92%

1Y return CAGR

-2.31%

1Y total return

-2.31%

20-day SMA

CNY 99.15

200-day SMA

CNY 96.04

3M price change

5.22%

3M total return

8.01%

3Y price change

6.92%

3Y return CAGR

6.99%

3Y total return

22.46%

50-day SMA

CNY 98.27

50-day SMA vs 200-day SMA

50over200

52-week high

CNY 109.61

52-week high date

2025-11-26

52-week low

CNY 85.38

52-week low date

2026-06-29

6M price change

6M total return

9.15%

All-time high

CNY 119.51

All-time high date

2024-12-31

All-time low

CNY 57.58

All-time low date

2022-01-06

Average true range (ATR)

CNY 2.15

Average volume

12.2M

Beta (5Y)

0.26

Change from 52-week high

-9.33%

Change from 52-week low

16.4%

Change from all-time high

-16.89%

Change from all-time low

72.49%

Change from open

-1.26%

Day's gap

-0.05%

Dollar volume

CNY 998.3M

High price

CNY 101.48

Low price

CNY 99.20

Monthly RSI

50.43

Open price

CNY 100.65

Position in 52-week range

7.89%

Previous close

CNY 100.70

Price vs 150-day SMA

3.6%

Price vs 20-day SMA

0.17%

Price vs 200-day SMA

3.42%

Price vs 50-day SMA

1.07%

Relative volume

0.83

RSI

50.93

Sharpe ratio

-0.35

Sharpe ratio (3Y)

0.18

Sortino ratio

-0.15

Sortino ratio (3Y)

0.57

Volume

10M

Weekly RSI

53.81

YTD price change

-1.71%

YTD total return

3.16%

Metric	Value
Float	6.7B
Shares change (QoQ)	0.76%
Shares change (YoY)	0.74%
Shares held by insiders	0%
Shares held by institutions	2.2%

Metric

Value

Float

6.7B

Shares change (QoQ)

0.76%

Shares change (YoY)

0.74%

Shares held by insiders

Shares held by institutions

2.2%

SHA/600941 (SHA/600941)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600941

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600941 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600941

Frequently asked questions