Credit Brief — Lens Technology Co., Ltd. (蓝思科技)
300433.SZ · Shenzhen ChiNext · 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: 周群飞
- Registered address: 湖南浏阳生物医药园
- Office address: 湖南浏阳生物医药园
- Actual controller: 周群飞
- Employees: 145,683
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 | 11,685.9 | 10,519.0 | 10,988.1 | 9,815.3 | 7,372.3 |
| Trading financial assets | 355.3 | 349.7 | 354.9 | 627.0 | 83.3 |
| Accounts receivable | 9,021.1 | 9,302.3 | 10,858.2 | 10,775.6 | 9,190.6 |
| Other receivables | 374.1 | 623.0 | 494.8 | 521.6 | 637.4 |
| Inventories | 6,685.0 | 6,682.7 | 7,160.6 | 6,932.3 | 7,932.8 |
| Long-term equity investments | 479.5 | 375.0 | 325.7 | 338.2 | 360.4 |
| Fixed assets | 35,812.8 | 36,027.3 | 36,378.7 | 40,613.0 | 41,604.4 |
| Construction in progress | 1,169.8 | 849.2 | 1,319.4 | 897.6 | 2,730.9 |
| Intangible assets | 5,185.6 | 5,227.3 | 5,074.5 | 5,209.9 | 5,277.4 |
| Total assets | 78,345.8 | 77,469.7 | 81,016.0 | 84,338.6 | 84,547.0 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 2,814.6 | 1,417.2 | 1,561.4 | 643.7 | 962.0 |
| Notes payable | 0.0 | 13.0 | 91.6 | 591.1 | 465.4 |
| Accounts payable | 10,129.8 | 11,119.1 | 14,004.9 | 15,528.7 | 14,459.5 |
| Contract liabilities | 7.6 | 8.1 | 12.6 | 29.5 | 36.1 |
| Other payables | 458.9 | 463.4 | 421.7 | 472.3 | 2,908.6 |
| Current portion of non-current liabilities | 7,047.3 | 4,280.3 | 5,004.9 | 4,700.8 | 4,171.4 |
| Long-term borrowings | 9,122.9 | 9,588.3 | 7,807.9 | 4,366.6 | 5,946.1 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total liabilities | 33,964.5 | 30,948.1 | 32,170.1 | 29,251.6 | 31,723.9 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 4,973.5 | 4,983.2 | 4,982.9 | 5,284.3 | 5,278.7 |
| Capital reserve | 20,700.1 | 20,807.9 | 20,918.6 | 25,509.5 | 25,449.5 |
| Retained earnings | 16,510.3 | 18,330.7 | 20,235.9 | 21,720.6 | 19,937.9 |
| Equity attributable to owners of the parent | 44,172.0 | 46,339.0 | 48,656.6 | 55,023.1 | 52,774.6 |
| Minority interests | 209.3 | 182.6 | 189.3 | 63.9 | 48.5 |
| Total equity | 44,381.2 | 46,521.6 | 48,845.9 | 55,087.0 | 52,823.1 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 46,698.5 | 54,490.7 | 69,896.8 | 74,409.7 | 28,866.4 |
| Cost of sales | 37,729.7 | 45,428.7 | 58,789.0 | 62,511.5 | 24,124.8 |
| Selling expenses | 727.5 | 692.6 | 705.6 | 586.4 | 236.0 |
| Administrative expenses | 2,705.6 | 2,542.6 | 2,824.5 | 2,891.5 | 1,463.3 |
| Finance costs | 245.5 | 243.9 | -47.2 | 21.2 | 517.1 |
| Investment income | 76.4 | 106.6 | 261.0 | 93.0 | 118.6 |
| Operating profit | 2,966.1 | 3,276.8 | 3,871.1 | 4,605.2 | 742.6 |
| Profit before tax | 2,914.9 | 3,253.9 | 3,848.9 | 4,586.0 | 739.9 |
| Net profit | 2,519.8 | 3,041.8 | 3,676.9 | 4,040.8 | 586.2 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 1.29x | 1.47x | 1.33x | 1.24x | 1.07x |
| Quick ratio | 0.99x | 1.12x | 1.02x | 0.95x | 0.75x |
| Debt-to-asset ratio | 43.4% | 39.9% | 39.7% | 34.7% | 37.5% |
| Total debt / EBITDA | 3.13x | 2.36x | 2.07x | 1.22x | 2.45x |
| EBITDA interest coverage | 24.72x | 26.61x | 146.94x | 375.35x | 8.74x |
| Gross margin | 19.2% | 16.6% | 15.9% | 16.0% | 16.4% |
| Net margin | 5.4% | 5.6% | 5.3% | 5.4% | 2.0% |
| Return on equity (ROE) | 5.7% | 6.5% | 7.5% | 7.3% | 1.1% |
| Revenue growth | — | 16.7% | 28.3% | 6.5% | -61.2% |
| Net profit growth | — | 20.7% | 20.9% | 9.9% | -85.5% |
| Receivable days | 71 | 62 | 57 | 53 | 116 |
| Cash received / revenue | 109.2% | 92.6% | 88.0% | 85.3% | 92.3% |
| Operating CF / net profit | 3.64x | 3.06x | 2.96x | 2.84x | 3.43x |
| Free cash flow | 5,591.7 | 5,669.7 | 11,042.1 | 5,461.7 | 1,271.5 |
Mechanical risk flags
- ⚠ Current ratio: 1.24 (level: medium, reference threshold: <1.5)
- ⚠ Quick ratio: 0.95 (level: medium, reference threshold: <1.0)
- ⚠ Debt-to-asset ratio: 0.35 (level: high, reference threshold: <0.65)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: -1,188.7 vs -1,166.9 CNY mn (deviation 1.83%, severity mid)
Sources: 2023年年度报告.pdf p.108 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.99 「货币资金」. CF-statement figure below the balance-sheet movement by 21.8 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: 443.3 vs 469.1 CNY mn (deviation 5.5%, severity mid)
Sources: 2024年年度报告.pdf p.123 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.114 「货币资金」. CF-statement figure below the balance-sheet movement by 25.8 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: -1,147.2 vs -1,172.8 CNY mn (deviation 2.17%, severity mid)
Sources: 2025年年度报告.pdf p.142 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.131 「货币资金」. CF-statement figure above the balance-sheet movement by 25.5 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: -2,428.6 vs -2,443.0 CNY mn (deviation 0.59%, severity low)
Sources: 2026年半年度报告.pdf p.74 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.65 「货币资金」. CF-statement figure above the balance-sheet movement by 14.4 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 | 9,815.3 | 2025年年度报告.pdf | 131 | 货币资金 | 9815327446.21 (元) |
| Total assets | 2025 | 84,338.6 | 2025年年度报告.pdf | 132 | 资产总计 | 84338601429.52 (元) |
| Accounts receivable | 2025 | 10,775.6 | 2025年年度报告.pdf | 131 | 应收账款 | 10775599938.42 (元) |
| Fixed assets | 2025 | 40,613.0 | 2025年年度报告.pdf | 131 | 固定资产 | 40612960195.1 (元) |
| Short-term borrowings | 2025 | 643.7 | 2025年年度报告.pdf | 132 | 短期借款 | 643694648.33 (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.