Credit Brief — iSoftStone Information Technology (Group) Co.,Ltd. (软通动力)
301236.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: 刘天文
- Registered address: 北京市海淀区西北旺东路 10 号院东区 16 号楼 5 层 502
- Office address: 北京市海淀区西北旺东路 10 号院东区 16 号楼
- Employees: 91,849
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 | 6,344.3 | 6,247.0 | 7,189.8 | 6,445.1 | 7,364.8 |
| Trading financial assets | 0.0 | 0.0 | 0.0 | 0.0 | 1,330.6 |
| Accounts receivable | 4,950.2 | 5,070.1 | 6,630.6 | 5,900.7 | 7,573.6 |
| Other receivables | 104.9 | 86.7 | 130.5 | 184.6 | 199.2 |
| Inventories | 682.8 | 715.5 | 4,051.1 | 7,710.2 | 10,746.4 |
| Long-term equity investments | 200.9 | 2.5 | 110.7 | 126.8 | 132.9 |
| Fixed assets | 703.1 | 812.2 | 1,040.4 | 1,814.2 | 1,780.4 |
| Construction in progress | 0.2 | 64.3 | 248.5 | 128.0 | 414.4 |
| Intangible assets | 501.5 | 537.8 | 1,052.3 | 957.9 | 917.9 |
| Total assets | 15,062.7 | 15,617.5 | 23,181.4 | 27,413.8 | 34,689.9 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 2,242.9 | 2,371.8 | 4,122.9 | 4,944.1 | 8,301.1 |
| Notes payable | 0.0 | 23.4 | 0.0 | 0.0 | 241.9 |
| Accounts payable | 138.6 | 176.1 | 2,681.4 | 4,206.7 | 4,652.7 |
| Contract liabilities | 316.6 | 290.9 | 494.1 | 1,750.0 | 1,778.1 |
| Other payables | 251.6 | 240.9 | 431.1 | 533.9 | 556.4 |
| Current portion of non-current liabilities | 216.8 | 138.1 | 492.9 | 835.6 | 649.3 |
| Long-term borrowings | 2.1 | 1.0 | 1,667.3 | 1,102.7 | 1,782.2 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total liabilities | 5,032.8 | 5,018.1 | 12,515.7 | 16,730.5 | 21,319.2 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 635.3 | 952.9 | 952.9 | 952.9 | 1,035.2 |
| Capital reserve | 6,677.0 | 6,323.9 | 6,320.7 | 6,068.4 | 9,286.3 |
| Retained earnings | 2,660.1 | 3,163.4 | 3,155.4 | 3,244.9 | 2,928.5 |
| Equity attributable to owners of the parent | 10,058.4 | 10,560.9 | 10,574.5 | 10,385.8 | 13,092.7 |
| Minority interests | -28.5 | 38.6 | 91.2 | 297.5 | 278.1 |
| Total equity | 10,029.9 | 10,599.5 | 10,665.7 | 10,683.3 | 13,370.8 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 19,103.7 | 17,580.7 | 31,316.4 | 35,089.9 | 18,607.1 |
| Cost of sales | 15,042.2 | 14,194.5 | 27,415.7 | 31,159.2 | 16,820.0 |
| Selling expenses | 593.6 | 578.3 | 1,006.7 | 1,090.6 | 565.9 |
| Administrative expenses | 1,458.8 | 1,374.3 | 1,528.8 | 1,556.6 | 820.2 |
| Finance costs | 75.5 | 17.1 | 123.6 | 148.0 | 127.7 |
| Investment income | 21.4 | 13.8 | 17.2 | -9.8 | 5.7 |
| Operating profit | 985.7 | 485.2 | 123.3 | 33.2 | -289.8 |
| Profit before tax | 1,008.4 | 495.8 | 107.3 | 5.6 | -316.2 |
| Net profit | 950.1 | 486.7 | 136.3 | 177.4 | -307.2 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 2.70x | 2.66x | 1.89x | 1.57x | 1.62x |
| Quick ratio | 2.55x | 2.51x | 1.49x | 1.03x | 1.02x |
| Debt-to-asset ratio | 33.4% | 32.1% | 54.0% | 61.0% | 61.5% |
| Total debt / EBITDA | 2.05x | 3.84x | 15.07x | 18.87x | 8508.21x |
| EBITDA interest coverage | 15.91x | 38.21x | 3.37x | 2.46x | 0.01x |
| Gross margin | 21.3% | 19.3% | 12.5% | 11.2% | 9.6% |
| Net margin | 5.0% | 2.8% | 0.4% | 0.5% | -1.7% |
| Return on equity (ROE) | 9.5% | 4.6% | 1.3% | 1.7% | -2.3% |
| Revenue growth | — | -8.0% | 78.1% | 12.0% | -47.0% |
| Net profit growth | — | -48.8% | -72.0% | 30.1% | -273.2% |
| Receivable days | 95 | 105 | 77 | 61 | 149 |
| Cash received / revenue | 103.5% | 105.5% | 111.1% | 111.2% | 105.6% |
| Operating CF / net profit | 1.07x | 1.79x | 5.44x | -1.36x | 12.86x |
| Free cash flow | 160.5 | -46.3 | -957.7 | -1,233.2 | -5,620.9 |
Mechanical risk flags
- ⚠ Debt-to-asset ratio: 0.61 (level: high, reference threshold: <0.65)
- ⚠ EBITDA interest coverage: 2.46 (level: medium, reference threshold: <5.0)
- ⚠ Gross margin: 0.11 (level: medium, reference threshold: <0.15)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: -100.1 vs -97.3 CNY mn (deviation 2.82%, severity mid)
Sources: 2023年年度报告.pdf p.124 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.115 「货币资金」. CF-statement figure below the balance-sheet movement by 2.8 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: 856.9 vs 942.8 CNY mn (deviation 9.11%, severity mid)
Sources: 2024年年度报告.pdf p.137 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.127 「货币资金」. CF-statement figure below the balance-sheet movement by 85.9 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: -712.3 vs -744.7 CNY mn (deviation 4.35%, severity mid)
Sources: 2025年年度报告.pdf p.137 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.125 「货币资金」. CF-statement figure above the balance-sheet movement by 32.4 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: 920.9 vs 919.7 CNY mn (deviation 0.13%, severity low)
Sources: 2026年半年度报告.pdf p.82 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.73 「货币资金」. CF-statement figure above the balance-sheet movement by 1.2 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 | 6,445.1 | 2025年年度报告.pdf | 125 | 货币资金 | 6445084699.06 (元) |
| Total assets | 2025 | 27,413.8 | 2025年年度报告.pdf | 126 | 资产总计 | 27413795767.81 (元) |
| Accounts receivable | 2025 | 5,900.7 | 2025年年度报告.pdf | 125 | 应收账款 | 5900699922.49 (元) |
| Fixed assets | 2025 | 1,814.2 | 2025年年度报告.pdf | 126 | 固定资产 | 1814161415.12 (元) |
| Short-term borrowings | 2025 | 4,944.1 | 2025年年度报告.pdf | 126 | 短期借款 | 4944079800.26 (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.