Credit Brief — Unigroup Guoxin Microelectronics Co., Ltd. (紫光国微)
002049.SZ · Shenzhen Main Board · Data window: 2022–2026 H1 · Sources: official periodic reports filed via cninfo (巨潮资讯网)
All figures are extracted mechanically from official filings and are traceable to source page (see §9). Narrative sections are analyst commentary; mechanical sections are produced without any LLM. Not investment advice. Not a credit rating.
1. Identity & legitimacy
- Legal representative: 陈杰
- Registered address: 河北省唐山市玉田县玉田镇玉月路 1008 号
- Office address: 河北省唐山市玉田县玉田镇玉月路 1008 号
- Controlling shareholder: None (stated in the filed report)
- Actual controller: None (stated in the filed report)
- Employees: 3,244
Source: identity fields above are mechanically extracted from the issuer's own filed annual reports. - Registration data via corporate registry is not included in this build
2. Compliance & legal
Compliance screens (dishonest debtor / enforcement / penalties / business exceptions) require a registry data source not included in this build
3. Business profile
Top customer/supplier tables not generated for this issuer.
4. Financial dashboard (CNY mn)
Assets
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Cash and bank balances | 4,092.2 | 3,082.1 | 2,461.1 | 2,200.9 | 2,189.4 |
| Trading financial assets | — | 1,041.6 | 785.2 | 1,084.4 | 1,525.3 |
| Accounts receivable | 3,105.7 | 4,326.7 | 4,056.7 | 4,237.3 | 5,600.2 |
| Other receivables | 35.9 | 83.7 | 32.1 | 21.5 | 22.8 |
| Inventories | 2,213.2 | 2,513.4 | 1,973.7 | 2,243.1 | 2,095.1 |
| Long-term equity investments | 447.3 | 506.4 | 534.7 | 719.1 | 690.0 |
| Fixed assets | 384.0 | 502.5 | 584.6 | 654.6 | 695.6 |
| Construction in progress | 47.4 | 32.9 | 65.1 | 114.6 | 79.8 |
| Intangible assets | 376.8 | 319.7 | 741.2 | 694.6 | 671.0 |
| Total assets | 15,328.8 | 17,533.9 | 17,319.8 | 18,946.9 | 19,494.8 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | — | 37.9 | 37.9 | 8.7 | — |
| Notes payable | 456.7 | 296.9 | 436.4 | 462.9 | 435.0 |
| Accounts payable | 897.6 | 1,165.5 | 917.7 | 1,237.0 | 1,172.5 |
| Contract liabilities | 802.6 | 769.5 | 283.9 | 198.6 | 152.2 |
| Other payables | 107.8 | 82.5 | 42.3 | 49.7 | 45.1 |
| Current portion of non-current liabilities | 70.5 | 383.3 | 169.3 | 225.8 | 1,686.7 |
| Long-term borrowings | 439.0 | 144.0 | 199.5 | 102.2 | 89.7 |
| Bonds payable | 1,321.6 | 1,367.6 | 1,407.2 | 1,440.0 | — |
| Total liabilities | 5,553.6 | 5,804.6 | 4,925.3 | 5,192.3 | 4,999.3 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 849.6 | 849.6 | 849.6 | 849.6 | 849.6 |
| Capital reserve | 648.4 | 664.7 | 796.2 | 1,084.5 | 1,151.9 |
| Retained earnings | 7,876.4 | 10,365.6 | 10,958.6 | 12,180.9 | 12,718.2 |
| Equity attributable to owners of the parent | 9,703.1 | 11,654.2 | 12,394.5 | 13,737.1 | 14,333.8 |
| Minority interests | 72.1 | 75.1 | 73.8 | 17.5 | 161.7 |
| Total equity | 9,775.2 | 11,729.3 | 12,394.5 | 13,754.6 | 14,495.5 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 7,119.9 | 7,565.4 | 5,511.1 | 6,145.8 | 3,443.4 |
| Cost of sales | 2,577.4 | 2,936.0 | 2,437.4 | 2,731.3 | 1,598.0 |
| Selling expenses | 272.5 | 288.3 | 268.4 | 307.6 | 165.1 |
| Administrative expenses | 239.6 | 314.6 | 363.9 | 334.2 | 174.8 |
| Finance costs | -3.5 | -28.3 | -50.4 | -23.3 | 1.8 |
| Investment income | 81.1 | 69.8 | -31.4 | -79.9 | -26.5 |
| Operating profit | 2,881.9 | 2,719.5 | 1,282.7 | 1,520.9 | 854.1 |
| Profit before tax | 2,881.4 | 2,720.2 | 1,281.7 | 1,521.2 | 854.5 |
| Net profit | 2,640.4 | 2,533.6 | 1,185.4 | 1,436.0 | 794.5 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 3.52x | 3.58x | 4.50x | 4.56x | 3.36x |
| Quick ratio | 2.89x | 2.94x | 3.74x | 3.80x | 2.86x |
| Debt-to-asset ratio | 36.2% | 33.1% | 28.4% | 27.4% | 25.6% |
| Total debt / EBITDA | 0.61x | 0.67x | 1.19x | 1.03x | 1.81x |
| EBITDA interest coverage | 844.89x | 102.47x | 30.18x | 73.90x | 529.34x |
| Gross margin | 63.8% | 61.2% | 55.8% | 55.6% | 53.6% |
| Net margin | 37.1% | 33.5% | 21.5% | 23.4% | 23.1% |
| Return on equity (ROE) | 27.0% | 21.6% | 9.6% | 10.4% | 5.5% |
| Revenue growth | — | 6.3% | -27.2% | 11.5% | -44.0% |
| Net profit growth | — | -4.0% | -53.2% | 21.1% | -44.7% |
| Receivable days | 159 | 209 | 269 | 252 | 594 |
| Cash received / revenue | 91.2% | 89.8% | 102.1% | 95.9% | 100.2% |
| Operating CF / net profit | 0.65x | 0.70x | 1.24x | 0.53x | 1.04x |
| Free cash flow | 1,617.0 | 2,082.5 | 2,114.6 | 1,263.8 | 1,226.3 |
Mechanical risk flags
- ⚠ Debt-to-asset ratio: 0.27 (level: high, reference threshold: <0.65)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: -775.7 vs -1,010.1 CNY mn (deviation 23.21%, severity mid)
Sources: 2023年年度报告.pdf p.73 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.66 「货币资金」. CF-statement figure above the balance-sheet movement by 234.4 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2024 · Cash-flow statement net increase vs balance-sheet cash movement: -651.4 vs -621.0 CNY mn (deviation 4.67%, severity mid)
Sources: 2024年年度报告.pdf p.77 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.69 「货币资金」. CF-statement figure below the balance-sheet movement by 30.4 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2025 · Cash-flow statement net increase vs balance-sheet cash movement: -181.0 vs -260.2 CNY mn (deviation 30.42%, severity mid)
Sources: 2025年年度报告.pdf p.80 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.72 「货币资金」. CF-statement figure above the balance-sheet movement by 79.1 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2026Q2 · Cash-flow statement net increase vs balance-sheet cash movement: -1.8 vs -11.5 CNY mn (deviation 84.76%, severity mid)
Sources: 2026年半年度报告.pdf p.52 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.43 「货币资金」. CF-statement figure above the balance-sheet movement by 9.8 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review.
4 check(s) not run for missing inputs: 前五大应收 vs BS 应收账款; 前五大其他应收 vs BS 其他应收款; 前五大预付 vs BS 预付款项; 授信表内总合计 vs Σ机构行.
Premium tier. The analyst red-flag review and the industry-context commentary (sections 7–8 of the full brief) are not included in this free build. Join the waitlist for early access.
9. Method & provenance
All financial figures above were extracted mechanically from the company's official periodic reports (unit-normalized to CNY). Each key figure carries cell-level provenance — source file, page and original line item. Samples (latest annual period):
| Item | Period | Value (CNY mn) | Source file | Page | Raw line item | Raw value (as filed) |
|---|---|---|---|---|---|---|
| Cash and bank balances | 2025 | 2,200.9 | 2025年年度报告.pdf | 72 | 货币资金 | 2200928720.51 (元) |
| Total assets | 2025 | 18,946.9 | 2025年年度报告.pdf | 73 | 资产总计 | 18946893713.17 (元) |
| Accounts receivable | 2025 | 4,237.3 | 2025年年度报告.pdf | 72 | 应收账款 | 4237331267.99 (元) |
| Fixed assets | 2025 | 654.6 | 2025年年度报告.pdf | 72 | 固定资产 | 654562759.23 (元) |
| Short-term borrowings | 2025 | 8.7 | 2025年年度报告.pdf | 73 | 短期借款 | 8741665.45 (元) |
This brief is built solely on officially filed public disclosures. It is not investment advice, not a credit rating, and not an offer of any service. Figures may contain extraction or caliber effects; verify against the original filings before relying on them.