SHA/600986 (SHA/600986)

Shanghai Stock Exchange: SHA/600986 · CNY

CN¥6.89

+0.10 (+1.5%)· Recorded snapshot

Market cap	10.2B
Revenue (ttm)	8.9B
Net income (ttm)	-159.6M
EPS (ttm)	-CN¥0.11
Shares out	1.5B
Volume	31,978,400
Beta	0.87

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 8.9B
Net income (ttm): -159.6M
EPS (ttm): -CN¥0.11
Market cap: 10.2B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/En/a

P25 n/aP50 n/aP75 n/a

Trailing P/En/a

P25 n/aP50 n/aP75 n/a

ROE-2.6

P25 n/aP50 n/aP75 n/a

ROIC3.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

S&P 500+0.8%

Nasdaq Composite-1.0%

Dow Jones Industrial Average+1.9%

Russell 2000+0.3%

All SHA/600986 indicators

Market & fundamental data

Available fields

221

Groups with data

Currency

CNY

Showing 221 of 221 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-31
Employees	1,123
Employees change	-39
Employees growth	-3.36%
Enterprise value	CNY 10.8B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1993
Industry	Advertising Agencies
Is primary listing	Yes
ISIN number	CNE000001HF8
Last earnings date	2026-08-27
Last refreshed	2026-10-28
Last stock split date	2018-07-18
Last stock split type	Forward
Market cap	CNY 10.2B
Next earnings date	2026-10-31
Price	CNY 6.89
Price currency	CNY
Sector	Communication Services
SIC code	7311
Stock price date	2026-10-28
Symbol	sha/600986
Website	https://www.zwhlgroup.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	47.53x
Average P/E ratio (3Y)	65.33x
Average P/E ratio (5Y)	60.69x
Earnings yield	-1.58%
EV/EBIT	48.02x
EV/EBITDA	31.79x
EV/FCF	237.29x
EV/Sales	1.2x
FCF / EV yield	0.42%
FCF yield	0.45%
Industry P/E	142.69x
P/B ratio	1.99x
P/FCF ratio	224.19x
P/OCF ratio	22.05x
P/S ratio	1.14x
Price / tangible book value	2.76x
Price/EBITDA ratio	31.2x
Sector forward P/E	15.97x
Sector P/E	53.73x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	2.51%
EBITDA margin	3.64%
FCF margin	0.51%
Gross margin	8.79%
Operating margin	2.51%
Pretax margin	-1.84%
Profit margin	-1.78%
Profit per employee	CNY -142,105
Profitable years	6
Revenue per employee	CNY 8M
ROA	1.46%
ROA (5Y)	1.07%
ROCE	4.14%
ROE	-2.6%
ROE (5Y)	3.79%
ROIC	3.5%
ROIC (5Y)	2.72%
Tax / revenue	-0.34%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth years	0
FCF growth (Q)	997.27%
FCF growth 3Y	-57.18%
Gross profit growth	24.03%
Gross profit growth (Q)	46.72%
Gross profit growth 3Y	7.98%
Gross profit growth 5Y	1.43%
Net income growth years	0
OCF growth (Q)	21%
OCF growth 10Y	1.22%
OCF growth 3Y	-8.23%
Operating income growth 3Y	19.49%
Operating income growth 5Y	3.9%
Revenue growth	17.21%
Revenue growth (Q)	52.92%
Revenue growth (QoQ)	45.49%
Revenue growth 10Y	6.25%
Revenue growth 3Y	-11.07%
Revenue growth 5Y	-4.91%
Revenue growth quarters	1
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	CNY -415.7M
Depreciation and amortization	CNY 101.8M
EBIT	CNY 224.2M
EBITDA	CNY 326M
EPS	CNY -0.11
FCF per share	CNY 0.03
Financing cash flow	CNY 654.7M
Free cash flow	CNY 45.4M
Gross profit	CNY 786.3M
Income taxes	CNY -30.3M
Investing cash flow	CNY -492.9M
Net borrowing	CNY 625.9M
Net cash flow	CNY 625.2M
Net income	CNY -159.6M
Operating income	CNY 224.2M
Revenue	CNY 8.9B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.9
Book value per share	CNY 3.42
Debt / EBITDA	8.55
Debt / equity	0.57
Debt / FCF	63.82
Goodwill	CNY 1.3B
Interest coverage	2.84
Long-term assets	CNY 2.9B
Long-term liabilities	CNY 310.4M
Net cash (debt)	CNY -536.3M
Net cash / market cap	-5.27%
Net debt / EBITDA	1.65
Net debt / equity	0.11
Net debt / FCF	11.82
Piotroski F-Score	5
Property, plant and equipment	CNY 611.8M
Shareholders' equity	CNY 5.1B
Tangible book value	CNY 3.7B
Tangible book value per share	CNY 2.50
Total assets	CNY 10.1B
Total cash	CNY 2.4B
Total debt	CNY 2.9B
Total liabilities	CNY 5B
WACC	7.51%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.93
Current assets	CNY 7.1B
Current liabilities	CNY 4.7B
Current ratio	1.53
Net working capital	CNY 2.8B
Quick ratio	1.37
Working capital	CNY 2.5B
Working capital turnover	3.79

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-8.36%
Dividend growth (10Y)	3.42%
Dividend growth (3Y)	71%
Dividend growth (5Y)	37.97%
Dividend per share	CNY 0.00
Last dividend	CNY 0.05
Shareholder yield	-8.36%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-45.02%
10Y return CAGR	-5.64%
10Y total return	-44.02%
150-day SMA	CNY 8.26
15Y price change	67.23%
15Y return CAGR	3.71%
15Y total return	72.69%
1D price change	1.47%
1W price change	-2.13%
1W total return	-2.13%
1Y price change	-21.19%
1Y return CAGR	-21.2%
1Y total return	-21.19%
20-day SMA	CNY 6.96
200-day SMA	CNY 9.03
20Y price change	389.68%
20Y return CAGR	8.48%
20Y total return	408.83%
3M price change	0.44%
3M total return	0.44%
3Y price change	35.43%
3Y return CAGR	10.9%
3Y total return	36.38%
50-day SMA	CNY 7.20
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 16.48
52-week high date	2026-02-04
52-week low	CNY 6.24
52-week low date	2026-10-23
5Y price change	64.59%
5Y return CAGR	10.64%
5Y total return	65.75%
6M price change	-39.81%
6M total return	-39.81%
All-time high	CNY 32.14
All-time high date	2015-06-12
All-time low	CNY 0.91
All-time low date	2005-07-21
Average true range (ATR)	CNY 0.32
Average volume	43.4M
Beta (1Y)	1.34
Beta (2Y)	1.51
Beta (5Y)	0.87
Change from 52-week high	-58.19%
Change from 52-week low	10.42%
Change from all-time high	-78.6%
Change from all-time low	658.63%
Change from open	0.88%
Day's gap	0.59%
Dollar volume	CNY 220.3M
High price	CNY 6.95
Low price	CNY 6.72
Monthly RSI	45.83
Open price	CNY 6.83
Position in 52-week range	73.91%
Previous close	CNY 6.79
Price vs 150-day SMA	-16.69%
Price vs 20-day SMA	-1.11%
Price vs 200-day SMA	-23.8%
Price vs 50-day SMA	-4.39%
Relative volume	0.74
RSI	46.67
Sharpe ratio	0.06
Sharpe ratio (3Y)	0.29
Sharpe ratio (5Y)	0.39
Sortino ratio	0.18
Sortino ratio (3Y)	0.55
Sortino ratio (5Y)	0.7
Volume	32M
Weekly RSI	40.62
YTD price change	-12.02%
YTD total return	-12.02%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.3B
Shares change (QoQ)	61%
Shares change (YoY)	8.36%
Shares held by insiders	0.4%
Shares held by institutions	5.93%
Shares outstanding	1.5B

Deeper analysis on SHA/600986

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

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Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this SHA/600986 report

Is a complete SHA/600986 research report available?

No complete published report is available for sha/600986 (SHA/600986) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Market cap

10.2B

Revenue (ttm)

8.9B

Net income (ttm)

-159.6M

EPS (ttm)

-CN¥0.11

Shares out

1.5B

Volume

31,978,400

Beta

0.87

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-31

Employees

1,123

Employees change

-39

Employees growth

-3.36%

Enterprise value

CNY 10.8B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-06-30

First seen

2026-05-10

Fiscal year end

December

Founded

1993

Industry

Advertising Agencies

Is primary listing

Yes

ISIN number

CNE000001HF8

Last earnings date

2026-08-27

Last refreshed

2026-10-28

Last stock split date

2018-07-18

Last stock split type

Forward

Market cap

CNY 10.2B

Next earnings date

2026-10-31

Price

CNY 6.89

Price currency

CNY

Sector

Communication Services

SIC code

7311

Stock price date

2026-10-28

Symbol

sha/600986

Website

https://www.zwhlgroup.com

Metric

Value

Average P/E ratio (10Y)

47.53x

Average P/E ratio (3Y)

65.33x

Average P/E ratio (5Y)

60.69x

Earnings yield

-1.58%

EV/EBIT

48.02x

EV/EBITDA

31.79x

EV/FCF

237.29x

EV/Sales

1.2x

FCF / EV yield

0.42%

FCF yield

0.45%

Industry P/E

142.69x

P/B ratio

1.99x

P/FCF ratio

224.19x

P/OCF ratio

22.05x

P/S ratio

1.14x

Price / tangible book value

2.76x

Price/EBITDA ratio

31.2x

Sector forward P/E

15.97x

Sector P/E

53.73x

Metric

Value

EBIT margin

2.51%

EBITDA margin

3.64%

FCF margin

0.51%

Gross margin

8.79%

Operating margin

2.51%

Pretax margin

-1.84%

Profit margin

-1.78%

Profit per employee

CNY -142,105

Profitable years

Revenue per employee

CNY 8M

ROA

1.46%

ROA (5Y)

1.07%

ROCE

4.14%

ROE

-2.6%

ROE (5Y)

3.79%

ROIC

3.5%

ROIC (5Y)

2.72%

Tax / revenue

-0.34%

Metric

Value

EPS growth years

FCF growth (Q)

997.27%

FCF growth 3Y

-57.18%

Gross profit growth

24.03%

Gross profit growth (Q)

46.72%

Gross profit growth 3Y

7.98%

Gross profit growth 5Y

1.43%

Net income growth years

OCF growth (Q)

21%

OCF growth 10Y

1.22%

OCF growth 3Y

-8.23%

Operating income growth 3Y

19.49%

Operating income growth 5Y

3.9%

Revenue growth

17.21%

Revenue growth (Q)

52.92%

Revenue growth (QoQ)

45.49%

Revenue growth 10Y

6.25%

Revenue growth 3Y

-11.07%

Revenue growth 5Y

-4.91%

Revenue growth quarters

Revenue growth years

Metric

Value

Capital expenditures

CNY -415.7M

Depreciation and amortization

CNY 101.8M

EBIT

CNY 224.2M

EBITDA

CNY 326M

EPS

CNY -0.11

FCF per share

CNY 0.03

Financing cash flow

CNY 654.7M

Free cash flow

CNY 45.4M

Gross profit

CNY 786.3M

Income taxes

CNY -30.3M

Investing cash flow

CNY -492.9M

Net borrowing

CNY 625.9M

Net cash flow

CNY 625.2M

Net income

CNY -159.6M

Operating income

CNY 224.2M

Revenue

CNY 8.9B

Metric

Value

Altman Z-Score

2.9

Book value per share

CNY 3.42

Debt / EBITDA

8.55

Debt / equity

0.57

Debt / FCF

63.82

Goodwill

CNY 1.3B

Interest coverage

2.84

Long-term assets

CNY 2.9B

Long-term liabilities

CNY 310.4M

Net cash (debt)

CNY -536.3M

Net cash / market cap

-5.27%

Net debt / EBITDA

1.65

Net debt / equity

0.11

Net debt / FCF

11.82

Piotroski F-Score

Property, plant and equipment

CNY 611.8M

Shareholders' equity

CNY 5.1B

Tangible book value

CNY 3.7B

Tangible book value per share

CNY 2.50

Total assets

CNY 10.1B

Total cash

CNY 2.4B

Total debt

CNY 2.9B

Total liabilities

CNY 5B

WACC

7.51%

Metric

Value

Asset turnover

0.93

Current assets

CNY 7.1B

Current liabilities

CNY 4.7B

Current ratio

1.53

Net working capital

CNY 2.8B

Quick ratio

1.37

Working capital

CNY 2.5B

Working capital turnover

3.79

Metric

Value

Buyback yield / dilution

-8.36%

Dividend growth (10Y)

3.42%

Dividend growth (3Y)

71%

Dividend growth (5Y)

37.97%

Dividend per share

CNY 0.00

Last dividend

CNY 0.05

Shareholder yield

-8.36%

Metric

Value

10Y price change

-45.02%

10Y return CAGR

-5.64%

10Y total return

-44.02%

150-day SMA

CNY 8.26

15Y price change

67.23%

15Y return CAGR

3.71%

15Y total return

72.69%

1D price change

1.47%

1W price change

-2.13%

1W total return

-2.13%

1Y price change

-21.19%

1Y return CAGR

-21.2%

1Y total return

-21.19%

20-day SMA

CNY 6.96

200-day SMA

CNY 9.03

20Y price change

389.68%

20Y return CAGR

8.48%

20Y total return

408.83%

3M price change

0.44%

3M total return

0.44%

3Y price change

35.43%

3Y return CAGR

10.9%

3Y total return

36.38%

50-day SMA

CNY 7.20

50-day SMA vs 200-day SMA

50under200

52-week high

CNY 16.48

52-week high date

2026-02-04

52-week low

CNY 6.24

52-week low date

2026-10-23

5Y price change

64.59%

5Y return CAGR

10.64%

5Y total return

65.75%

6M price change

-39.81%

6M total return

-39.81%

All-time high

CNY 32.14

All-time high date

2015-06-12

All-time low

CNY 0.91

All-time low date

2005-07-21

Average true range (ATR)

CNY 0.32

Average volume

43.4M

Beta (1Y)

1.34

Beta (2Y)

1.51

Beta (5Y)

0.87

Change from 52-week high

-58.19%

Change from 52-week low

10.42%

Change from all-time high

-78.6%

Change from all-time low

658.63%

Change from open

0.88%

Day's gap

0.59%

Dollar volume

CNY 220.3M

High price

CNY 6.95

Low price

CNY 6.72

Monthly RSI

45.83

Open price

CNY 6.83

Position in 52-week range

73.91%

Previous close

CNY 6.79

Price vs 150-day SMA

-16.69%

Price vs 20-day SMA

-1.11%

Price vs 200-day SMA

-23.8%

Price vs 50-day SMA

-4.39%

Relative volume

0.74

RSI

46.67

Sharpe ratio

0.06

Sharpe ratio (3Y)

0.29

Sharpe ratio (5Y)

0.39

Sortino ratio

0.18

Sortino ratio (3Y)

0.55

Sortino ratio (5Y)

0.7

Volume

32M

Weekly RSI

40.62

YTD price change

-12.02%

YTD total return

-12.02%

Metric

Value

Float

1.3B

Shares change (QoQ)

61%

Shares change (YoY)

8.36%

Shares held by insiders

0.4%

Shares held by institutions

5.93%

Shares outstanding

1.5B

SHA/600986 (SHA/600986)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600986

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600986 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/600986

Frequently asked questions

SHA/600986 (SHA/600986)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600986

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600986 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/600986

Frequently asked questions