Victory Giant Technology (Huizhou) Co., Ltd. (SHTECH) cash flow statement

SHZ · Technology · Hardware, Equipment & Parts · 17,989 employees · CEO Qi Xiang Zhao

Price: CN¥135.02 -2.89%
Market cap: CN¥118B
Enterprise value: CN¥126B
Last report: Q3 '26 filed 2026-09-30
Next report: 2027-03-31 EPS est. CN¥3.15

In Q3 '26 Victory Giant Technology (Huizhou) Co., Ltd. (SHTECH) generated CN¥631M of operating cash flow, invested CN¥4.65B in capital expenditure and kept -CN¥4.02B of free cash flow. Over the last four quarters free cash flow was -CN¥8.92B.

Cash flow

Cash flow	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Operating
Net income	CN¥85.6M	CN¥210M	CN¥249M	CN¥306M	CN¥390M	CN¥921M	CN¥1.22B	CN¥1.1B	CN¥1.07B	CN¥1.29B	CN¥1.57B	CN¥527M
Depreciation & amortization	CN¥174M	CN¥192M	CN¥192M	CN¥211M	CN¥211M	CN¥243M	CN¥243M	CN¥265M	CN¥265M	CN¥329M	CN¥329M	CN¥0
Stock-based compensation	CN¥25M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Change in working capital	-CN¥648M	CN¥0	-CN¥196M	CN¥0	CN¥0	CN¥0	-CN¥2.89B	CN¥2.89B	CN¥0	CN¥0	-CN¥6.82B	CN¥0
Other non-cash items	CN¥933M	-CN¥221M	CN¥231M	CN¥56.4M	-CN¥469M	-CN¥739M	CN¥2.19B	-CN¥2.8B	CN¥887M	CN¥499M	CN¥5.72B	CN¥104M
Operating cash flow	CN¥569M	CN¥181M	CN¥476M	CN¥573M	CN¥132M	CN¥424M	CN¥766M	CN¥1.19B	CN¥2.22B	CN¥2.12B	CN¥797M	CN¥631M
Investing
Capital expenditure	-CN¥166M	-CN¥215M	-CN¥164M	-CN¥383M	-CN¥72.5M	-CN¥730M	-CN¥1.43B	-CN¥1.49B	-CN¥2.96B	-CN¥3.57B	-CN¥3.5B	-CN¥4.65B
Acquisitions	-CN¥2.77B	CN¥5.92M	CN¥3.34M	-CN¥222M	CN¥27.3M	CN¥21.7M	-CN¥19.8M	CN¥3.28M	CN¥1.7M	-CN¥285M	CN¥12.6M	CN¥3.29M
Purchases of investments	CN¥3.45M	-CN¥5.92M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	-CN¥14.8B	CN¥13.9B
Sales / maturities of investments	CN¥708M	CN¥5.86M	CN¥2.57M	CN¥220K	-CN¥8.6K	CN¥0	CN¥0	CN¥0	CN¥581K	CN¥1.42M	CN¥137M	-CN¥137M
Other investing	CN¥36.5M	CN¥5.92M	CN¥5.91M	-CN¥250M	-CN¥2.26M	CN¥21.7M	-CN¥10.2M	-CN¥856K	-CN¥134M	-CN¥320M	CN¥321M	-CN¥8.11B
Investing cash flow	-CN¥2.19B	-CN¥203M	-CN¥161M	-CN¥633M	-CN¥47.4M	-CN¥708M	-CN¥1.44B	-CN¥1.49B	-CN¥3.1B	-CN¥4.18B	-CN¥17.8B	CN¥976M
Financing
Net debt issued / repaid	CN¥1.07B	-CN¥57.3M	-CN¥381M	-CN¥97.9M	-CN¥23.8M	CN¥3.78M	CN¥813M	CN¥407M	CN¥1.03B	CN¥2.67B	CN¥1.24B	CN¥2.49B
Share buybacks	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	-CN¥41.7M	CN¥41.7M	CN¥0	CN¥0	CN¥0	CN¥0
Dividends	-CN¥19.4M	-CN¥24.4M	-CN¥188M	-CN¥23.8M	-CN¥23.9M	-CN¥27.8M	-CN¥288M	-CN¥31M	-CN¥33.7M	-CN¥41.2M	-CN¥1.8B	-CN¥67.1M
Other financing (incl. tax on vested shares)	CN¥425M	-CN¥1.95M	CN¥329M	CN¥148M	CN¥136M	CN¥617M	CN¥34.5M	CN¥1.87B	-CN¥23.5M	CN¥10.2M	CN¥20.1B	-CN¥35M
Financing cash flow	CN¥1.47B	-CN¥83.7M	-CN¥240M	CN¥25.9M	CN¥87.8M	CN¥593M	CN¥518M	CN¥2.29B	CN¥975M	CN¥2.64B	CN¥19.5B	CN¥2.4B
Summary
FX effect on cash	-CN¥33.5M	CN¥17.1M	CN¥10.8M	-CN¥10.4M	CN¥52.3M	CN¥22.6M	-CN¥429K	CN¥22.7M	-CN¥10.1M	-CN¥62.8M	-CN¥243M	CN¥198M
Net change in cash	-CN¥183M	-CN¥88.7M	-CN¥18.4M	-CN¥44.6M	CN¥224M	CN¥331M	-CN¥155M	CN¥2.02B	CN¥88.2M	CN¥515M	CN¥2.28B	CN¥4.2B
Free cash flow (OCF - capex)	CN¥404M	-CN¥33.9M	CN¥312M	CN¥190M	CN¥59.1M	-CN¥306M	-CN¥663M	-CN¥301M	-CN¥744M	-CN¥1.46B	-CN¥2.71B	-CN¥4.02B

Cash flow	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Operating
Net income	CN¥232M	CN¥282M	CN¥380M	CN¥463M	CN¥519M	CN¥670M	CN¥791M	CN¥671M	CN¥1.15B	CN¥4.31B
Depreciation & amortization	CN¥76M	CN¥90.5M	CN¥160M	CN¥217M	CN¥327M	CN¥448M	CN¥609M	CN¥653M	CN¥755M	CN¥923M
Stock-based compensation	CN¥1.03M	CN¥2.3M	CN¥241K	CN¥10.2M	CN¥11.6M	CN¥8.56M	CN¥9.75M	CN¥0	CN¥0	CN¥0
Deferred income tax	-CN¥1.72M	-CN¥1.36M	-CN¥10.4M	-CN¥13.3M	-CN¥6.57M	-CN¥13.2M	CN¥27.4M	CN¥0	CN¥0	CN¥0
Change in working capital	-CN¥94.3M	-CN¥28.3M	-CN¥106M	-CN¥13.8M	CN¥8.52M	-CN¥447M	-CN¥156M	-CN¥137M	-CN¥710M	-CN¥894M
Other non-cash items	-CN¥639K	CN¥13.8M	CN¥62.1M	CN¥74.8M	CN¥109M	CN¥126M	-CN¥40.4M	CN¥92.1M	CN¥159M	CN¥262M
Operating cash flow	CN¥213M	CN¥358M	CN¥497M	CN¥738M	CN¥964M	CN¥793M	CN¥1.24B	CN¥1.28B	CN¥1.36B	CN¥4.6B
Investing
Capital expenditure	-CN¥310M	-CN¥544M	-CN¥1.16B	-CN¥1.48B	-CN¥2.1B	-CN¥1.54B	-CN¥1.06B	-CN¥645M	-CN¥834M	-CN¥6.62B
Acquisitions	CN¥853K	CN¥3.5M	CN¥826K	CN¥15M	CN¥5.82M	CN¥13.9M	CN¥3.59M	-CN¥2.77B	-CN¥224M	CN¥6.89M
Purchases of investments	-CN¥275M	-CN¥1.82B	-CN¥1.36B	-CN¥70M	CN¥0	-CN¥1.29B	-CN¥1.75B	CN¥0	CN¥0	CN¥0
Sales / maturities of investments	CN¥10.6M	CN¥7.37M	CN¥20.7M	CN¥70M	CN¥0	CN¥1.27B	CN¥1.7B	CN¥711M	CN¥8.64M	CN¥1.49M
Other investing	CN¥303M	-CN¥711M	CN¥729M	-CN¥9.97M	-CN¥2.1B	-CN¥1.17B	-CN¥358M	CN¥708M	CN¥7.87M	-CN¥120M
Investing cash flow	CN¥3.34M	-CN¥1.25B	-CN¥407M	-CN¥1.47B	-CN¥2.1B	-CN¥2.71B	-CN¥1.47B	-CN¥2B	-CN¥1.04B	-CN¥6.73B
Financing
Net debt issued / repaid	CN¥0	-CN¥65.7M	CN¥302M	CN¥500M	CN¥1.45B	CN¥295M	CN¥1.11B	CN¥1.98B	-CN¥560M	CN¥2.25B
Share buybacks	CN¥0	CN¥0	CN¥0	CN¥0	-CN¥9.57M	CN¥0	-CN¥156M	CN¥0	CN¥0	CN¥0
Dividends	-CN¥53.3M	-CN¥129M	-CN¥128M	-CN¥152M	-CN¥200M	-CN¥224M	-CN¥236M	-CN¥230M	-CN¥260M	-CN¥380M
Other financing (incl. tax on vested shares)	-CN¥21M	CN¥1.13B	-CN¥116M	CN¥169M	-CN¥42.9M	CN¥1.95B	-CN¥578M	-CN¥1.01B	CN¥610M	CN¥2.51B
Financing cash flow	-CN¥74.4M	CN¥933M	CN¥57.4M	CN¥517M	CN¥1.25B	CN¥2.02B	CN¥370M	CN¥734M	-CN¥210M	CN¥4.38B
Summary
FX effect on cash	CN¥16M	-CN¥8.9M	-CN¥6.47M	CN¥8.93M	-CN¥15.8M	-CN¥4.23M	CN¥31.1M	CN¥9.45M	CN¥69.8M	CN¥34.8M
Net change in cash	CN¥158M	CN¥34.3M	CN¥141M	-CN¥211M	CN¥107M	CN¥99M	CN¥175M	CN¥23.4M	CN¥177M	CN¥2.28B
Free cash flow (OCF - capex)	-CN¥97.2M	-CN¥186M	-CN¥660M	-CN¥742M	-CN¥1.14B	-CN¥745M	CN¥180M	CN¥635M	CN¥524M	-CN¥2.01B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Share count and EPS

quarterly, diluted

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02