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Maker of thermal-management and fluid-control components for air conditioners, refrigeration and electric vehicles.
Maker of thermal-management and fluid-control components for air conditioners, refrigeration and electric vehicles.
Sells valves, pumps and heat-exchange parts into appliance and car makers' products, so it is paid per component, with air-conditioning and refrigeration the larger side and car parts the newer one, tied to a few makers' EV models, Tesla among them. Founded and still controlled by the Zhang family.
In one line: A Chinese Sensata/Modine for thermal-management components.
Moat: narrow (customer qualification, scale, process know-how). Qualified supplier to Tesla and major appliance OEMs with broad component scale.
Headquarters: Xinchang, Zhejiang, China · Founded: 1984 · Employees: 19,090
Size Zhejiang Sanhua Intelligent Controls (002050.SZ) is a China Industrials company (Industrial Machinery) with a market value of $21.5B, the 98th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.67 on 6 Nov 2026.
Performance Over six months the shares fell 28.2%, against -4.8% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 2.7% over the last twelve months (peer median +8.1%); the operating margin is 15.2% (peer median 18.5%).
Valuation It trades at 33.3× forward earnings against a peer median of 24.0× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is +3 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 4.3 points above its cost of capital (11.9% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥32.3B | CN¥30.9B | CN¥27.9B | CN¥24.5B | CN¥21.3B |
| Revenue growth | — | +11% | +14% | +15% | — |
| Gross profit | CN¥10.2B | CN¥8.62B | CN¥7.36B | CN¥6.53B | CN¥5.34B |
| EBITDA | n/a | CN¥6.07B | CN¥4.60B | CN¥4.11B | CN¥3.17B |
| Net income | CN¥3.89B | CN¥4.06B | CN¥3.10B | CN¥2.92B | CN¥2.57B |
| Free cash flow | CN¥2.81B | CN¥1.96B | CN¥1.09B | CN¥981M | -CN¥427M |
| Capital expenditure | CN¥3.00B | CN¥3.15B | CN¥3.29B | CN¥2.75B | CN¥2.94B |
| Total debt | CN¥8.70B | CN¥8.60B | CN¥8.59B | CN¥7.46B | CN¥9.43B |
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 Sanhua Intelligent Controls 002050.SZ | $21.5B | -28% | +3% | 15% | 33.3× | 23.8% |
| Modine Manufacturing MOD | $5.14B | -65% | +35% | 11% | 12.8× | n/a |
| Sensata Technologies ST | $5.72B | -13% | +4% | 16% | 9.9× | 5.2% |
| Valeo FR.PA | $3.00B | -15% | -2% | 4% | 7.3× | -8.2% |
| Hanon Systems 018880.KS | $2.31B | -28% | +5% | 4% | 12.3× | 3.6% |
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 | 002050.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.8% | -7.0% | 6th highest of 21 |
| 6-month return | -28.2% | -4.8% | 3rd lowest of 21 |
| Distance from 52-week high | -44.6% | -29.3% | 6th lowest of 21 |
| Revenue growth (TTM) | +2.7% | +8.1% | 4th lowest of 21 |
| Operating margin | 15.2% | 18.5% | 5th lowest of 21 |
| Forward P/E | 33.3× | 24.0× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 23.8% | 15.8% | 4th most demanding of 19 |
| Growth delivered (Del g) | +20.8% | +9.2% | 3rd highest of 19 |
| Hurdle (Req g minus delivered) | +3.0 pp | +7.0 pp | 6th least demanding of 19 |
| ROIC minus cost of capital | +4.3 pp | +3.7 pp | 10th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Sanhua Intelligent Controls 002050.SZ | China | $21.5B | -28% | +3% | 15% | 33.3× | 23.8% | +20.8% |
| Smc 6273.T | Japan | $21.9B | -27% | +16% | 24% | 15.9× | 16.2% | +8.8% |
| SYM SYM | United States | $22.3B | -30% | +20% | 1% | 101.9× | n/a | n/a |
| Xylem XYL | United States | $22.4B | -14% | +2% | 16% | 17.4× | 12.1% | +13.1% |
| Alfa Laval ALFA.ST | Sweden | $22.5B | 0% | +4% | 18% | 24.2× | 7.9% | +10.9% |
| VAT VACN.SW | Switzerland | $19.0B | -11% | -2% | 25% | 48.2× | 25.8% | +9.2% |
| Woodward WWD | United States | $18.7B | -14% | +22% | 16% | 31.0× | 18.9% | +7.4% |
| Nordson NDSN | United States | $17.3B | +10% | +7% | 27% | 24.5× | 15.4% | +5.6% |
| Dover DOV | United States | $27.1B | -7% | +8% | 18% | 17.6× | 12.2% | +3.9% |
| IDEX IEX | United States | $16.7B | +5% | +7% | 21% | 23.7× | 14.7% | +8.0% |
| Veralto VLTO | United States | $28.5B | +35% | +6% | 22% | 24.6× | 8.3% | +4.8% |
| Ihi 7013.T | Japan | $15.4B | -20% | +8% | 10% | 12.7× | 16.7% | +8.1% |
| Lincoln Electric LECO | United States | $14.9B | +2% | +11% | 18% | 22.0× | 13.3% | +9.7% |
| Fanuc 6954.T | Japan | $31.2B | -23% | +13% | 23% | 22.0× | 16.9% | +9.2% |
| Gree Electric Appliances, Inc. of Zhuhai 000651.SZ | China | $31.2B | -3% | -11% | 16% | 8.6× | -16.4% | 0.0% |
| ACM Research (Shanghai) 688082.SS | China | $14.6B | +30% | +9% | 15% | 54.1× | n/a | n/a |
| Ingersoll Rand IR | United States | $31.9B | +10% | +8% | 19% | 21.8× | 17.3% | +14.0% |
| Lifco LIFCO-B.ST | Sweden | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% | +15.4% |
| ASM International ASM.AS | Netherlands | $35.5B | -28% | +13% | 31% | 27.0× | 30.0% | +19.0% |
| Eoptolink Technology 300502.SZ | China | $36.0B | -54% | +101% | 44% | 12.3× | 21.7% | +65.5% |
| Advanced Micro-Fabrication Equipment Inc. China 688012.SS | China | $36.5B | +1% | +26% | 12% | 51.5× | 51.7% | +40.3% |