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Chinese maker of smart-grid metering equipment and EV charging infrastructure.
Chinese maker of smart-grid metering equipment and EV charging infrastructure.
Smart meters are bought through bidding rounds run by the state grid companies, so its share of each round drives volumes, while charging equipment sells on project orders. It is now controlled by a Shenzhen government-owned investor after a period of financial strain.
Moat: narrow (customer qualification). Qualified supplier status to grid utilities in metering and grid-automation equipment.
Headquarters: Shenzhen, China · Employees: 2,672
Size Shenzhen Clou Electronics (002121.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $1.11B, the 2100th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.43 on 6 Nov 2026.
Performance Over six months the shares fell 36.3%, against -18.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 40.4% over the last twelve months (peer median +7.4%); the operating margin is -5.1% (peer median 9.2%).
Valuation It trades at 29.5× forward earnings against a peer median of 22.1× (6th most expensive of 15).
Capital Return on invested capital runs 11.0 points below its cost of capital (6.3% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.18B | CN¥6.29B | CN¥4.42B | CN¥4.18B | CN¥3.53B |
| Revenue growth | — | +42% | +6% | +18% | — |
| Gross profit | CN¥1.06B | CN¥1.33B | CN¥1.19B | CN¥1.07B | CN¥867M |
| EBITDA | n/a | CN¥402M | CN¥245M | CN¥147M | CN¥124M |
| Net income | -CN¥791M | -CN¥156M | -CN¥464M | -CN¥529M | -CN¥101M |
| Free cash flow | -CN¥517M | CN¥63.2M | CN¥538M | CN¥19.7M | CN¥68.3M |
| Capital expenditure | CN¥115M | CN¥82.2M | CN¥283M | CN¥457M | CN¥376M |
| Total debt | CN¥6.32B | CN¥4.20B | CN¥4.03B | CN¥4.17B | CN¥4.63B |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Clou Electronics 002121.SZ | $1.11B | -36% | +40% | -5% | 29.5× | n/a |
| Wasion 3393.HK | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% |
| Hexing Electrical 603556.SS | $1.61B | -23% | +6% | 9% | 14.2× | 0.1% |
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 | 002121.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | -13.7% | 3rd highest of 21 |
| 6-month return | -36.3% | -18.5% | 4th lowest of 20 |
| Distance from 52-week high | -58.8% | -42.3% | 4th lowest of 21 |
| Revenue growth (TTM) | +40.4% | +7.4% | 3rd highest of 21 |
| Operating margin | -5.1% | 9.2% | 2nd lowest of 21 |
| Forward P/E | 29.5× | 22.1× | 6th most expensive of 15 |
| ROIC minus cost of capital | -11.0 pp | -1.2 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Clou Electronics 002121.SZ | China | $1.11B | -36% | +40% | -5% | 29.5× | n/a | n/a |
| Ventec International 6672.TW | Taiwan | $1.15B | +110% | +20% | 13% | 30.6× | n/a | n/a |
| Uni-Trend Technology (China) 688628.SS | China | $1.07B | -34% | +33% | 15% | 29.1× | n/a | n/a |
| Kinpo Electronics 2312.TW | Taiwan | $1.16B | -8% | -7% | 3% | n/a | n/a | n/a |
| Wuhan East Lake High Technology 600133.SS | China | $1.17B | -18% | -3% | 8% | n/a | n/a | n/a |
| Henan Yicheng New Energy 300080.SZ | China | $1.05B | -17% | -13% | -21% | n/a | n/a | n/a |
| Henan Thinker Automatic Equipment 603508.SS | China | $1.18B | -20% | -1% | 39% | 9.1× | -3.9% | +12.6% |
| Asia Optical 3019.TW | Taiwan | $1.04B | -14% | +13% | 10% | 16.2× | 0.1% | +10.9% |
| Hunan Zhongke Electric 300035.SZ | China | $1.22B | -42% | +46% | 5% | 20.6× | n/a | n/a |
| GVS S.p.A GVS.MI | Italy | $1.24B | +35% | -1% | 12% | 20.7× | 14.3% | +3.2% |
| OKI Electric Industry 6703.T | Japan | $1.24B | -32% | -4% | 4% | 11.3× | 10.1% | +1.4% |
| Camelot Electronics Technology 301282.SZ | China | $992M | +12% | +58% | 7% | n/a | n/a | n/a |
| Rigol Technologies 688337.SS | China | $990M | -45% | +27% | 9% | 51.4× | 24.5% | +20.5% |
| Wuxi Xinje Electric 603416.SS | China | $984M | -22% | +26% | 9% | 21.1× | 19.8% | +12.2% |
| Park Systems 140860.KS | South Korea | $965M | -35% | -6% | 12% | 30.3× | n/a | n/a |
| Shandong Chunguang Technology 301531.SZ | China | $1.29B | n/a | +7% | 12% | n/a | 58.9% | +4.4% |
| Suzhou Sushi Testing 300416.SZ | China | $957M | -26% | +8% | 15% | 23.0× | 2.6% | +13.7% |
| Transcat TRNS | United States | $955M | +33% | +20% | 5% | 45.0× | 30.3% | +13.9% |
| Riken Keiki 7734.T | Japan | $930M | -7% | +11% | 22% | 13.8× | 2.6% | +11.4% |
| Sidea Semiconductor Equipment (Shenzhen) 301629.SZ | China | $924M | -39% | -27% | 0% | 147.2× | n/a | n/a |
| Jiangsu Wuyang Automation Control Technology 300420.SZ | China | $921M | +51% | -10% | 5% | n/a | n/a | n/a |