TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co.

000826.SZ

Waste Management · Industrials

Price

¥1.76

+0.05 (+2.92%)

Market Cap

¥2.51B

Exchange

Shenzhen Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−5.9% over 3y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.43B (2022) → 1.35B (2025)

TUS Environmental Science and Technology Development is a Chinese company that handles waste management and environmental services. It collects, treats, and disposes of solid waste, hazardous waste, and wastewater, serving municipal governments, industrial facilities, and other businesses across China. The company is affiliated with Tsinghua University, which gives it a research-backed identity in China's environmental services sector.

The company earns money by charging fees for waste processing, treatment contracts, and environmental engineering projects. It operates primarily in China, where government-driven environmental regulations have historically created steady demand for its services. However, with an operating margin of around negative 51% and a negative return on invested capital, the business is currently losing significant money relative to its revenue, suggesting high costs or debt burdens are weighing heavily on profitability. The key risk is whether the company can restructure its finances and improve operational efficiency before its losses erode its financial position further.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-36.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$62M/ year

↓ Declining (-14% vs prior year)

1.3% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

7.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$1.2B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

26.0%

Modest — 26.0% gross margin

Operating Margin

-9.9%

Losing money on operations — -9.9%

ROCE

-1.6%

Weak — -1.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-12.1%

Shrinking sales (-12.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

14.3%

Converts sales into free cash efficiently (14.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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