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Chinese maker of zippers, buttons and metal/plastic fasteners supplied to apparel and sportswear brands.
Chinese maker of zippers, buttons and metal/plastic fasteners supplied to apparel and sportswear brands.
Sells zippers and buttons as parts of garments, typically specified by the apparel brands and bought by their contract garment factories, so volumes follow apparel orders and the buyer is often the factory rather than the brand.
In one line: A China-based YKK-style apparel-fastener supplier.
Moat: narrow (scale, brand, customer qualification). Leading Chinese apparel-trim supplier; brands qualify trim suppliers for quality/consistency.
Headquarters: Zhejiang, China · Employees: 10,038
Size Zhejiang Weixing Industrial Development (002003.SZ) is a China Industrials company (Miscellaneous Manufacturing) with a market value of $2.17B, the 1173rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.76 on 6 Nov 2026.
Performance Over six months the shares gained 27.6%, against -16.7% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +8.6%); the operating margin is 16.3% (peer median 11.5%).
Valuation It trades at 20.7× forward earnings against a peer median of 22.1× (10th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.39B | CN¥4.77B | CN¥4.64B | CN¥3.88B | CN¥3.61B |
| Revenue growth | — | +3% | +20% | +8% | — |
| Gross profit | CN¥2.42B | CN¥1.88B | CN¥1.83B | CN¥1.51B | CN¥1.33B |
| EBITDA | n/a | CN¥1.14B | CN¥1.10B | CN¥880M | CN¥767M |
| Net income | CN¥725M | CN¥645M | CN¥700M | CN¥558M | CN¥489M |
| Free cash flow | CN¥666M | CN¥263M | CN¥324M | CN¥16.4M | CN¥62.1M |
| Capital expenditure | CN¥540M | CN¥871M | CN¥766M | CN¥671M | CN¥734M |
| Total debt | CN¥1.17B | CN¥1.16B | CN¥893M | CN¥770M | CN¥895M |
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| Measure | 002003.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.4% | -7.2% | 5th highest of 21 |
| 6-month return | +27.6% | -16.7% | 2nd highest of 21 |
| Distance from 52-week high | -0.6% | -33.0% | highest of 21 |
| Revenue growth (TTM) | +14.1% | +8.6% | 8th highest of 21 |
| Operating margin | 16.3% | 11.5% | 3rd highest of 21 |
| Forward P/E | 20.7× | 22.1× | 10th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -4.2% | 9.9% | 3rd least demanding of 19 |
| Growth delivered (Del g) | +14.0% | +6.9% | 4th highest of 19 |
| Hurdle (Req g minus delivered) | -18.2 pp | +3.4 pp | least demanding of 19 |
| ROIC minus cost of capital | +13.2 pp | +2.3 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Weixing Industrial Development 002003.SZ | China | $2.17B | +28% | +14% | 16% | 20.7× | -4.2% | +14.0% |
| Leyard Optoelectronic 300296.SZ | China | $2.20B | -14% | -14% | 4% | 28.8× | 17.1% | +1.2% |
| Zhejiang Weixing New Building Materials 002372.SZ | China | $2.27B | -19% | -12% | 14% | 17.8× | 9.9% | +1.1% |
| Hanshow Technology 301275.SZ | China | $2.68B | -5% | +42% | 13% | 27.7× | 10.0% | +13.6% |
| Daetwyler DAE.SW | Switzerland | $2.72B | -21% | +2% | 10% | 24.7× | 9.3% | +6.0% |
| Hill & Smith HILS.L | United Kingdom | $2.88B | +10% | +3% | 16% | 19.5× | 19.4% | +5.6% |
| FP Corporation 7947.T | Japan | $1.61B | +35% | +4% | 9% | 15.5× | -1.0% | +5.1% |
| Jinfu Technology 003018.SZ | China | $1.51B | -30% | +85% | 26% | 39.3× | 18.0% | +8.2% |
| Vesuvius VSVS.L | United Kingdom | $1.49B | +2% | +2% | 7% | 14.7× | 8.2% | +4.4% |
| TOMRA Systems TOM.OL | Norway | $3.17B | +6% | +7% | 11% | 31.8× | 9.5% | +9.2% |
| Xiamen Voke Mold & Plastic Engineering 301196.SZ | China | $1.48B | -34% | +34% | 12% | 32.6× | 19.6% | +19.4% |
| Shanghai PRET Composites 002324.SZ | China | $1.36B | -44% | +27% | 1% | 45.7× | n/a | n/a |
| Kurita Water Industries 6370.T | Japan | $3.47B | -39% | +1% | 14% | 11.3× | 5.6% | +8.5% |
| Astral ASTRAL.NS | India | $3.57B | -20% | +17% | 12% | 46.8× | 32.5% | +15.6% |
| Brady BRC | United States | $3.69B | 0% | +10% | 16% | 12.0× | 1.0% | +7.7% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 13.6× | -5.4% | +2.5% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 11.5× | 18.0% | +14.5% |
| China Lesso 2128.HK | Hong Kong | $1.20B | -42% | -5% | 13% | 5.7× | -4.5% | -3.5% |
| Suzhou Victory Precision Manufacture 002426.SZ | China | $1.17B | -41% | +7% | -20% | n/a | 30.8% | -18.0% |
| Supreme Industries SUPREMEIND.NS | India | $4.24B | -14% | +17% | 10% | 33.6× | 25.8% | +12.1% |
| Cangzhou Mingzhu Plastic 002108.SZ | China | $1.10B | -28% | +14% | 5% | n/a | n/a | n/a |