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Chinese maker of production-line equipment for carbon-fiber manufacturing and warp-knitting textile machinery.
Chinese maker of production-line equipment for carbon-fiber manufacturing and warp-knitting textile machinery.
Sells production lines and machines as large one-off orders, so revenue follows the capital spending of carbon-fiber and textile producers rather than steady repeat demand. Carbon-fiber line orders are lumpy and depend on a few producers' expansion plans.
Moat: narrow (process know-how). Specialized carbon-fiber production line engineering know-how versus generic machinery makers.
Headquarters: Haining, China · Employees: 1,618
Size Zhejiang Jinggong Integration Technology (002006.SZ) is a China Industrials company (Industrial Machinery) with a market value of $946M, the 2406th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.32 on 6 Nov 2026.
Performance Over six months the shares fell 30.8%, against -11.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue fell 12.5% over the last twelve months (peer median +10.9%); the operating margin is 5.0% (peer median 6.9%).
Valuation It trades at 21.6× forward earnings against a peer median of 18.0× (5th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 29% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.7 points below its cost of capital (9.6% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.65B | CN¥1.68B | CN¥1.73B | CN¥1.53B | CN¥2.35B |
| Revenue growth | — | -2% | +13% | -35% | — |
| Gross profit | CN¥501M | CN¥520M | CN¥479M | CN¥468M | CN¥624M |
| EBITDA | n/a | CN¥227M | CN¥179M | CN¥177M | CN¥338M |
| Net income | CN¥185M | CN¥186M | CN¥147M | CN¥180M | CN¥293M |
| Free cash flow | CN¥278M | -CN¥267M | CN¥39.0M | -CN¥151M | CN¥315M |
| Capital expenditure | CN¥260M | CN¥414M | CN¥105M | CN¥180M | CN¥6.72M |
| Total debt | CN¥1.13B | CN¥1.06B | CN¥862M | CN¥400M | CN¥404M |
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| Measure | 002006.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -5.3% | 11th highest of 21 |
| 6-month return | -30.8% | -11.2% | 6th lowest of 20 |
| Distance from 52-week high | -50.8% | -38.6% | 8th lowest of 21 |
| Revenue growth (TTM) | -12.5% | +10.9% | 4th lowest of 21 |
| Operating margin | 5.0% | 6.9% | 8th lowest of 21 |
| Forward P/E | 21.6× | 18.0× | 5th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 28.8% | 4.8% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +9.6% | +10.6% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | +19.2 pp | -9.3 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -5.7 pp | -2.5 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Jinggong Integration Technology 002006.SZ | China | $946M | -31% | -12% | 5% | 21.6× | 28.8% | +9.6% |
| SUSS MicroTec SMHN.DE | Germany | $948M | -53% | -15% | 9% | 35.8× | 24.2% | +14.8% |
| Jiangyin Hengrun Heavy Industries 603985.SS | China | $942M | -45% | -20% | 9% | n/a | n/a | n/a |
| Shanghai Seer Intelligent Technology 6106.HK | Hong Kong | $940M | n/a | +30% | -12% | n/a | n/a | n/a |
| Zhejiang Taitan 003036.SZ | China | $953M | -10% | +14% | 2% | n/a | n/a | n/a |
| Shenzhen Dobot 2432.HK | Hong Kong | $937M | -50% | +67% | -33% | n/a | n/a | n/a |
| Unimech Aerospace & Manufacturing UNIMECH.NS | India | $937M | +63% | +40% | 27% | 61.6× | n/a | n/a |
| Shanghai SK Automation Technology 688155.SS | China | $936M | -53% | +56% | 15% | 17.6× | 5.3% | +43.3% |
| Shanghai Shibei Hi-Tech 600604.SS | China | $960M | -13% | -26% | 4% | n/a | 15.1% | -1.7% |
| Chang Wah Electromaterials 8070.TW | Taiwan | $965M | -10% | +19% | 12% | 19.3× | -6.6% | +3.3% |
| Galilei 6420.T | Japan | $925M | -3% | +4% | 13% | 10.7× | n/a | n/a |
| Truking Technology 300358.SZ | China | $968M | -8% | +6% | 6% | 18.4× | -1.7% | +10.1% |
| Yindu Kitchen Equipment 603277.SS | China | $969M | -17% | -4% | 19% | 13.0× | -4.3% | +11.1% |
| Mesnac 002073.SZ | China | $923M | -11% | +18% | 4% | 14.7× | -3.2% | +21.6% |
| Dynamatic Technologies DYNAMATECH.NS | India | $922M | +3% | +17% | 7% | 88.0× | n/a | n/a |
| Qingdao Gaoce Technology 688556.SS | China | $922M | -45% | +5% | -17% | n/a | 8.8% | +37.4% |
| METAWATER 9551.T | Japan | $972M | +4% | +13% | 6% | 13.5× | 0.9% | +9.5% |
| Zhejiang Liju Thermal Energy Equipment 603391.SS | China | $973M | +18% | +9% | 18% | n/a | 12.0% | +5.0% |
| Tianjin Motor Dies 002510.SZ | China | $918M | -10% | +5% | -1% | n/a | 33.8% | +12.2% |
| Graham GHM | United States | $916M | -21% | +21% | 7% | 44.8× | n/a | n/a |
| Kitz 6498.T | Japan | $915M | -21% | +8% | 8% | 10.1× | 4.3% | +9.5% |