In terms of debt risk mitigation, current financial debt restructuring primarily involves commercial banks and policy banks replacing bonds and non-standard debts, while AMC (Asset Management Company) involvement is limited, the volume of debt restructuring is small, and most participation is through funding the establishment of debt restructuring funds and debt swaps.

Growth capacity refers to a company's ability to continuously increase its asset size, profitability, and market share in response to changing market conditions, reflecting its future development prospects.

This article is part of the Corporate Value Series focusing on [Growth Capacity]. It selects 47 debt restructuring enterprises as research samples, using revenue compound growth, non-GAAP net profit compound growth, and operating net cash flow compound growth as evaluation indicators.

Data is based on historical information and does not represent future trends; it is provided for static analysis only and does not constitute investment advice.

Top 10 Companies in Debt Restructuring Growth Capacity:

10. Shanghai Electric

Industry Segment: Integrated Power Equipment Supplier

Growth Capacity: Revenue compound growth -6.12%, non-GAAP net profit compound growth is negative, operating net cash flow compound growth is negative

Performance Forecast: Average latest forecasted net profit is RMB 671 million, average forecasted growth rate is 135.31%

Main Product: Energy equipment is the primary source of profit, accounting for 51.76% of profits with a gross margin of 20.14%

Company Highlight: Shanghai Electric holds equity of RMB 1.746 billion in China Orient Asset Management Corporation, one of China's four major state-owned financial asset management companies.

9. AVIC Capital

Industry Segment: Financial Holding

Growth Capacity: Revenue compound growth -5.79%, non-GAAP net profit compound growth -86.53%, operating net cash flow compound growth -59.94%

Performance Forecast: Average latest forecasted net profit is RMB 911 million, average forecasted growth rate is 213.94%

Main Product: Leasing business is the primary source of profit, accounting for 211.32% of profits with a gross margin of 27.72%

Company Highlight: AVIC Capital holds a 40% stake in Chengdu Yihang Asset Management Co., Ltd., a local asset management company.

8. Zhongyuan Expressway

Industry Segment: Expressway

Growth Capacity: Revenue compound growth 0.85%, non-GAAP net profit compound growth 5.57%, operating net cash flow compound growth -5.54%

Performance Forecast: Average latest forecasted net profit is RMB 905 million, average forecasted growth rate is 9.22%

Main Product: Toll collection business is the primary source of profit, accounting for 97.35% of profits with a gross margin of 58.30%

Company Highlight: Zhongyuan Expressway co-founded Henan Asset Management Co., Ltd., holding a 10% stake. This company holds one of the province's only two AMC licenses.

7. Fujian Energy Group

Industry Segment: Wind Power Generation

Growth Capacity: Revenue compound growth 5.40%, non-GAAP net profit compound growth -0.23%, operating net cash flow compound growth 13.27%

Performance Forecast: Average latest forecasted net profit is RMB 727 million, average forecasted growth rate is 7.16%

Main Product: Electricity is the primary source of profit, accounting for 99.85% of profits with a gross margin of 57.87%

Company Highlight: Fujian Energy Group's main business is the investment, development, construction, and operation of new energy power generation projects. Its major shareholder wholly owns Fujian Investment Asset Management Corporation, the province's only provincial AMC.

6. Sinosteel Magnetic Materials

Industry Segment: Testing Services

Growth Capacity: Revenue compound growth 2.96%, non-GAAP net profit compound growth 9.65%, operating net cash flow compound growth 1.16%

Performance Forecast: Average latest forecasted net profit is RMB 297 million, average forecasted growth rate is 8.15%

Main Product: Inspection and testing are the primary source of profit, accounting for 39.03% of profits with a gross margin of 48.49%

Company Highlight: Sinosteel Group's debt restructuring plan has been officially approved. Sinosteel Group is the controlling shareholder of Sinosteel Magnetic Materials, which primarily engages in inspection and testing services and magnetic materials.

5. YuXin Technology

Industry Segment: IT Services

Growth Capacity: Revenue compound growth 18.18%, non-GAAP net profit compound growth -6.57%, operating net cash flow compound growth 95.46%

Performance Forecast: Average latest forecasted net profit is RMB 344 million, average forecasted growth rate is 5.71%

Main Product: Software development and services are the primary source of profit, accounting for 85.49% of profits with a gross margin of 35.38%

Company Highlight: A subsidiary of YuXin Technology plans to jointly invest in a joint venture with Xiamen Asset Management and other partners. The joint venture will focus on financial technology empowerment for individual non-performing loan disposal business.

4. Qingju Technology

Industry Segment: Other Professional Services

Growth Capacity: Revenue compound growth 8.08%, non-GAAP net profit compound growth 7.13%, operating net cash flow compound growth -14.82%

Performance Forecast: Average latest forecasted net profit is RMB 223 million, average forecasted growth rate is 10.15%

Main Product: Full-process engineering consulting services are the primary source of profit, accounting for 94.12% of profits with a gross margin of 44.88%

Company Highlight: Qingju Technology conducts detailed cost accounting and control, comprehensive economic benefit analysis, and accurate assessment of the market value of existing assets for each stage of investment and construction projects, providing pricing references for asset revitalization.

3. Shanghai Jianke

Industry Segment: Engineering Consulting Services

Growth Capacity: Revenue compound growth 8.03%, non-GAAP net profit compound growth 7.79%, operating net cash flow compound growth 47.77%

Performance Forecast: Average latest forecasted net profit is RMB 347 million, average forecasted growth rate is 9.89%

Main Product: Engineering consulting services are the primary source of profit, accounting for 45.94% of profits with a gross margin of 24.02%

Company Highlight: Shanghai Jianke is the largest construction engineering inspection and testing institution in Shanghai. Its controlling shareholder's main business includes project management and the disposal and management of non-performing assets in the real estate sector.

2. Everbright Technology

Industry Segment: Vertical Application Software

Growth Capacity: Revenue compound growth 10.46%, non-GAAP net profit compound growth -50.47%, operating net cash flow compound growth is negative

Performance Forecast: Average latest forecasted net profit is RMB 78 million, average forecasted growth rate is 143.26%

Main Product: Digital financial business solutions are the primary source of profit, accounting for 71.58% of profits with a gross margin of 42.21%

Company Highlight: As one of the earliest vendors to implement AMC individual non-performing loan business system solutions in China, Everbright Technology has successfully built individual non-performing loan business systems for multiple leading local AMCs.

1. Head Corporation

Industry Segment: Asset Management

Growth Capacity: Revenue compound growth 35.80%, non-GAAP net profit compound growth 35.21%, operating net cash flow compound growth is negative

Performance Forecast: Average latest forecasted net profit is RMB 1.058 billion, average forecasted growth rate is 20.23%

Main Product: Asset management is the primary source of profit, accounting for 98.61% of profits with a gross margin of 98.07%

Company Highlight: Head Asset Management, a wholly-owned subsidiary of Head Corporation, is the only provincial AMC in Tibet with the qualification for bulk acquisition and disposal of financial non-performing assets.

Top 10 Companies in Debt Restructuring Growth Capacity: Compound Annual Growth Rates (CAGR) in Revenue, Non-GAAP Net Profit, and Operating Net Cash Flow Over the Past Three Years: