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Chinese maker of refrigeration and HVAC valves/components, part of the Dunan Group which also pursues silicon-carbide semiconductor materials.
Chinese maker of refrigeration and HVAC valves/components, part of the Dunan Group which also pursues silicon-carbide semiconductor materials.
Sells valves and heat-exchange parts to the air-conditioner and refrigerator makers, so demand follows their production schedules. The wider Dunan group has been pushing into electric-vehicle thermal parts and silicon-carbide materials.
Moat: narrow (scale, customer qualification). Long-standing qualified supplier to major HVAC OEMs in China.
Headquarters: Hangzhou, China · Founded: 1987 · Employees: 12,631
Size Zhejiang Dun'an Artificial Environment (002011.SZ) is a China Industrials company (Industrial Machinery) with a market value of $1.81B, the 1385th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.26 on 6 Nov 2026.
Performance Over six months the shares fell 3.6%, against -12.0% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 19 in its peer set.
Growth Revenue grew 7.9% over the last twelve months (peer median +9.9%); the operating margin is 7.7% (peer median 12.8%).
Valuation It trades at 11.4× forward earnings against a peer median of 21.5× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.4 points above its cost of capital (8.5% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥14.1B | CN¥13.1B | CN¥12.7B | CN¥11.4B | CN¥10.2B |
| Revenue growth | — | +3% | +12% | +12% | — |
| Gross profit | CN¥2.65B | CN¥2.34B | CN¥2.27B | CN¥2.11B | CN¥1.62B |
| EBITDA | n/a | CN¥1.39B | CN¥1.39B | CN¥1.17B | CN¥831M |
| Net income | CN¥1.04B | CN¥1.08B | CN¥1.04B | CN¥738M | CN¥834M |
| Free cash flow | CN¥781M | CN¥1.07B | CN¥719M | CN¥381M | CN¥1.07B |
| Capital expenditure | CN¥521M | CN¥369M | CN¥442M | CN¥430M | CN¥196M |
| Total debt | CN¥2.59B | CN¥2.05B | CN¥2.91B | CN¥3.13B | CN¥1.84B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Zhejiang Dun'an Artificial Environment 002011.SZ | $1.81B | -4% | +8% | 8% | 11.4× | -0.4% |
| Zhejiang Sanhua Intelligent Controls 002050.SZ | $21.5B | -28% | +3% | 15% | 33.3× | 23.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002011.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -6.9% | 9th lowest of 21 |
| 6-month return | -3.6% | -12.0% | 7th highest of 19 |
| Distance from 52-week high | -24.8% | -30.0% | 7th highest of 21 |
| Revenue growth (TTM) | +7.9% | +9.9% | 8th lowest of 21 |
| Operating margin | 7.7% | 12.8% | 9th lowest of 21 |
| Forward P/E | 11.4× | 21.5× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -0.4% | 21.3% | least demanding of 13 |
| Growth delivered (Del g) | +12.2% | +9.8% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -12.6 pp | +15.5 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | +6.4 pp | +2.3 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Dun'an Artificial Environment 002011.SZ | China | $1.81B | -4% | +8% | 8% | 11.4× | -0.4% | +12.2% |
| Jiangxi Guoke Defence 688543.SS | China | $1.83B | -7% | +2% | 16% | 42.7× | n/a | n/a |
| Systemair SYSR.ST | Sweden | $1.83B | +16% | +3% | 9% | 18.6× | 13.4% | +8.0% |
| Xiangtan Electric Manufacturing 600416.SS | China | $1.83B | -33% | -3% | -2% | 414.0× | n/a | n/a |
| INOX India INOXINDIA.NS | India | $1.79B | +20% | +23% | 18% | 47.3× | 37.9% | +21.8% |
| Shenzhen Yinghe Technology 300457.SZ | China | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% | +31.7% |
| Gorman-Rupp GRC | United States | $1.79B | -12% | +6% | 16% | 21.5× | 11.8% | +14.4% |
| Beijing OriginWater Technology 300070.SZ | China | $1.78B | -16% | -10% | 5% | 54.1× | 17.0% | -4.1% |
| Shareate Tools 688257.SS | China | $1.78B | -42% | +69% | 25% | 11.4× | n/a | n/a |
| Wuxi Rich Intelligent Equipment 301599.SZ | China | $1.87B | -54% | +9% | 13% | n/a | 31.2% | +9.2% |
| Kennametal KMT | United States | $1.76B | -36% | +32% | 31% | 8.9× | n/a | n/a |
| ELGI Equipments ELGIEQUIP.NS | India | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% | +15.5% |
| OSG 6136.T | Japan | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% | +9.0% |
| Ta Liang Technology 3167.TW | Taiwan | $1.89B | -9% | +103% | 23% | 19.6× | 31.8% | +15.9% |
| Xizi Clean Energy Equipment Manufacturing 002534.SZ | China | $1.74B | -19% | -2% | 3% | 44.5× | 25.7% | +3.1% |
| Ningbo PIA Automation 688306.SS | China | $1.74B | +3% | +7% | 4% | 190.6× | 35.2% | +8.7% |
| Excelland Robotics (Wuxi) 3231.HK | Hong Kong | $1.91B | n/a | +19% | -36% | n/a | n/a | n/a |
| Suzhou Secote Precision Electronic 603283.SS | China | $1.92B | -12% | +9% | 20% | 20.2× | n/a | n/a |
| Midera Food Processing MFP | United States | $1.92B | n/a | +11% | 14% | 16.4× | 0.9% | +10.5% |
| LMW LMW.NS | India | $1.93B | +14% | +19% | 4% | 55.9× | n/a | n/a |
| Fujian Snowman 002639.SZ | China | $1.70B | -18% | +9% | 1% | n/a | n/a | n/a |