---
title: "Huangma Technology (603181.SH) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/603181.SH/norm.md"
symbol: "603181.SH"
name: "Huangma Technology"
parent: "https://longbridge.com/en/quote/603181.SH.md"
datetime: "2026-05-20T08:17:08.906Z"
locales:
  - [en](https://longbridge.com/en/quote/603181.SH/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/603181.SH/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/603181.SH/norm.md)
---

# Huangma Technology (603181.SH) — Financial Reports

## Income Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | 0.1900 | 0.1704 | 0.2103 | 0.1997 | 0.1800 |
| ROE | 12.74% | 11.70% | 14.49% | 14.54% | 12.87% |
| Revenue | 657.01M | 584.68M | 625.66M | 590.65M | 603.41M |
| Net income | 112.42M | 99.20M | 118.74M | 116.89M | 101.77M |
| Operating income | 133.48M | 65.19M | 140.72M | 127.27M | 114.18M |
| Gross margin | 28.41% | 25.55% | 24.93% | 27.52% | 26.68% |
| Net margin | 17.11% | 16.97% | 18.98% | 19.79% | 16.87% |
| Profit quality | 212.13% | 53.04% | 89.96% | 97.33% | 278.79% |

## Balance Sheet (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 4.54B | 4.32B | 4.09B | 3.93B | 3.91B |
| Leverage | 1.26 | 1.25 | 1.23 | 1.22 | 1.22 |
| BVPS | 6.11 | 5.99 | 5.80 | 5.59 | 5.59 |
| Turnover | 0.5814 | 0.5871 | 0.6237 | 0.6467 | 0.6469 |
| Cash & STI | 646.26M | 635.98M | 608.68M | 503.68M | 514.61M |
| Inv & Rec | 171.73M | 217.50M | 199.28M | 221.91M | 235.88M |
| LT assets | 2.64B | 2.53B | 2.36B | 2.29B | 2.27B |
| Net debt | -154.67M | -178.60M | -172.68M | -99.53M | -126.26M |

## Cash Flow Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | 62.92M | 122.91M | 156.42M | 130.76M | 40.96M |
| Investing CF | -93.06M | -404.35M | -68.80M | 43.15M | -138.23M |
| Financing CF | 78.76M | 16.77M | 29.65M | -108.11M | -12.60M |
| Free CF | -147.20M | 105.37M | -28.71M | 125.47M | -35.06M |
| OCF coverage | 40.09% | 98.95% | 184.29% | 78.59% | 25.36% |
| Repaid & issued | 48.54M | 22.52M | 46.20M | 18.69M | 89.90M |
| CapEx | -139.21M | -118.46M | -68.33M | -39.59M | -58.98M |

## Distribution Plan

**Dividend Yield**: 1.34

### Dividend History

| Description | Record Date | Ex-Date | Payment Date |
|-------------|-------------|---------|--------------|
| Cash Dividend: 
0.2053CNY | 2025-06-10 | 2025-06-11 | 2025-06-11 |
| Cash Dividend: 
0.1433CNY | 2024-06-13 | 2024-06-14 | 2024-06-14 |
| Cash Dividend: 
0.0986CNY | 2022-06-15 | 2022-06-16 | 2022-06-16 |