Credit Brief — Giant Network Group Co.,Ltd. (巨人网络)
002558.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: 刘伟
- Registered address: 重庆市南岸区龙门浩老街 98 号
- Office address: 上海市松江区中辰路 655 号
- Actual controller: 史玉柱
- Employees: 1,674
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 | 1,737.6 | 1,888.5 | 2,058.0 | 6,260.4 | 5,798.9 |
| Trading financial assets | 384.6 | 214.6 | 215.6 | 3.5 | 1,896.4 |
| Accounts receivable | 127.4 | 160.3 | 147.4 | 203.3 | 188.6 |
| Other receivables | 9.0 | 7.6 | 12.0 | 6.3 | 5.8 |
| Inventories | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Long-term equity investments | 8,386.0 | 8,478.1 | 9,556.7 | 9,322.7 | 9,221.1 |
| Fixed assets | 243.5 | 244.2 | 272.0 | 799.0 | 797.0 |
| Construction in progress | 233.8 | 277.4 | 389.7 | 0.0 | 0.0 |
| Intangible assets | 63.7 | 53.2 | 63.9 | 55.6 | 58.7 |
| Total assets | 13,209.1 | 13,370.5 | 14,742.6 | 18,962.9 | 20,378.6 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Notes payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Accounts payable | 51.6 | 52.2 | 53.2 | 42.2 | 51.2 |
| Contract liabilities | 234.8 | 434.9 | 633.5 | 1,709.6 | 1,600.9 |
| Other payables | 28.7 | 28.0 | 26.6 | 101.2 | 109.5 |
| Current portion of non-current liabilities | 588.1 | 618.2 | 650.4 | 656.4 | 651.1 |
| Long-term borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total liabilities | 1,307.5 | 1,638.6 | 1,881.5 | 3,540.4 | 3,475.2 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 1,542.5 | 1,518.4 | 1,488.5 | 1,488.5 | 1,462.2 |
| Capital reserve | 6,453.9 | 5,213.8 | 4,691.2 | 5,062.0 | 4,796.6 |
| Retained earnings | 5,918.1 | 5,981.1 | 6,936.8 | 8,048.4 | 9,812.2 |
| Equity attributable to owners of the parent | 11,857.0 | 11,688.7 | 12,822.9 | 15,393.2 | 16,824.8 |
| Minority interests | 44.6 | 43.2 | 38.1 | 29.3 | 78.7 |
| Total equity | 11,901.5 | 11,731.9 | 12,861.1 | 15,422.6 | 16,903.5 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 2,037.7 | 2,924.2 | 2,922.8 | 5,047.4 | 4,688.7 |
| Cost of sales | 325.3 | 323.9 | 370.0 | 452.6 | 197.4 |
| Selling expenses | 355.9 | 1,019.4 | 1,005.1 | 1,711.3 | 1,321.3 |
| Administrative expenses | 188.6 | 178.3 | 220.6 | 238.0 | 134.9 |
| Finance costs | -15.2 | -5.8 | 4.0 | 9.2 | 0.2 |
| Investment income | 358.7 | 477.1 | 661.3 | 23.3 | 268.6 |
| Operating profit | 831.3 | 1,108.9 | 1,449.3 | 1,987.6 | 2,622.1 |
| Profit before tax | 829.7 | 1,101.4 | 1,447.3 | 1,992.1 | 2,623.0 |
| Net profit | 833.9 | 1,091.8 | 1,430.9 | 1,768.3 | 2,289.4 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 1.90x | 1.49x | 1.37x | 1.92x | 2.37x |
| Quick ratio | 1.90x | 1.49x | 1.37x | 1.92x | 2.37x |
| Debt-to-asset ratio | 9.9% | 12.3% | 12.8% | 18.7% | 17.1% |
| Total debt / EBITDA | 0.65x | 0.54x | 0.44x | 0.32x | 0.24x |
| EBITDA interest coverage | 59.17x | 198.86x | 372.35x | 224.61x | 13222.16x |
| Gross margin | 84.0% | 88.9% | 87.3% | 91.0% | 95.8% |
| Net margin | 40.9% | 37.3% | 49.0% | 35.0% | 48.8% |
| Return on equity (ROE) | 7.0% | 9.3% | 11.1% | 11.5% | 13.5% |
| Revenue growth | — | 43.5% | -0.0% | 72.7% | -7.1% |
| Net profit growth | — | 30.9% | 31.1% | 23.6% | 29.5% |
| Receivable days | 23 | 20 | 18 | 15 | 15 |
| Cash received / revenue | 101.6% | 103.8% | 102.5% | 117.6% | 98.3% |
| Operating CF / net profit | 0.88x | 1.03x | 0.72x | 1.69x | 0.90x |
| Free cash flow | -155.3 | 1,316.2 | 866.9 | 3,800.5 | 1,855.8 |
Mechanical risk flags
- ⚠ Debt-to-asset ratio: 0.19 (level: high, reference threshold: <0.65)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: 150.9 vs 150.9 CNY mn (deviation 0.0%, severity low)
Sources: 2023年年度报告.pdf p.78 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.69 「货币资金」. CF-statement figure below the balance-sheet movement by 0.0 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: 180.0 vs 169.5 CNY mn (deviation 5.86%, severity mid)
Sources: 2024年年度报告.pdf p.76 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.67 「货币资金」. CF-statement figure above the balance-sheet movement by 10.5 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: 4,202.1 vs 4,202.4 CNY mn (deviation 0.01%, severity low)
Sources: 2025年年度报告.pdf p.74 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.65 「货币资金」. CF-statement figure below the balance-sheet movement by 0.4 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: -461.8 vs -461.5 CNY mn (deviation 0.06%, severity low)
Sources: 2026年半年度报告.pdf p.44 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.35 「货币资金」. CF-statement figure below the balance-sheet movement by 0.3 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 | 6,260.4 | 2025年年度报告.pdf | 65 | 货币资金 | 6260427064.26 (元) |
| Total assets | 2025 | 18,962.9 | 2025年年度报告.pdf | 66 | 资产总计 | 18962948062.93 (元) |
| Accounts receivable | 2025 | 203.3 | 2025年年度报告.pdf | 65 | 应收账款 | 203329789.98 (元) |
| Fixed assets | 2025 | 799.0 | 2025年年度报告.pdf | 65 | 固定资产 | 799012700.83 (元) |
| Short-term borrowings | 2025 | 0.0 | 2025年年度报告.pdf | 66 | 短期借款 | 0.0 (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.