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Employees: 3,941
Size Zhejiang Southeast Space Frame (002135.SZ) is a China Industrials company (Building Products) with a market value of $764M, the 2869th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.63 on 6 Nov 2026.
Performance Over six months the shares fell 45.6%, against -16.6% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 4.0% over the last twelve months (peer median +0.8%); the operating margin is 1.7% (peer median 5.1%).
Valuation It trades at 25.7× forward earnings against a peer median of 15.7× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.2 points below its cost of capital (6.9% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.51B | CN¥9.36B | CN¥11.2B | CN¥13.0B | CN¥12.0B |
| Revenue growth | — | -17% | -13% | +8% | — |
| Gross profit | CN¥858M | CN¥768M | CN¥1.08B | CN¥1.39B | CN¥1.37B |
| EBITDA | n/a | CN¥461M | CN¥624M | CN¥727M | CN¥588M |
| Net income | CN¥29.9M | CN¥49.0M | CN¥190M | CN¥329M | CN¥291M |
| Free cash flow | CN¥4.10B | -CN¥595M | CN¥648M | -CN¥2.22B | -CN¥1.39B |
| Capital expenditure | CN¥446M | CN¥229M | CN¥116M | CN¥309M | CN¥219M |
| Total debt | CN¥4.07B | CN¥6.89B | CN¥6.88B | CN¥6.69B | CN¥5.48B |
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.
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 | 002135.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.6% | -6.8% | 6th lowest of 21 |
| 6-month return | -45.6% | -16.6% | lowest of 21 |
| Distance from 52-week high | -52.1% | -38.1% | 3rd lowest of 21 |
| Revenue growth (TTM) | -4.0% | +0.8% | 7th lowest of 21 |
| Operating margin | 1.7% | 5.1% | 8th lowest of 21 |
| Forward P/E | 25.7× | 15.7× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -12.0% | 7.2% | least demanding of 14 |
| Growth delivered (Del g) | +0.3% | +2.7% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | -12.2 pp | +5.8 pp | least demanding of 14 |
| ROIC minus cost of capital | -4.2 pp | -1.7 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Southeast Space Frame 002135.SZ | China | $764M | -46% | -4% | 2% | 25.7× | -12.0% | +0.3% |
| James Halstead JHD.L | United Kingdom | $762M | +4% | -1% | 18% | 15.1× | -4.7% | -0.5% |
| Nanjing Kangni Mechanical & Electrical 603111.SS | China | $749M | -16% | -1% | 8% | n/a | -7.1% | +4.8% |
| Yimikang Tech 300249.SZ | China | $739M | -38% | +29% | 2% | 77.5× | n/a | n/a |
| NPK International NPKI | United States | $725M | -42% | +19% | 18% | 16.4× | 15.5% | -10.9% |
| Arctech Solar 688408.SS | China | $820M | -38% | -19% | -1% | 34.8× | n/a | n/a |
| ERA 002641.SZ | China | $690M | -11% | -2% | 0% | 42.0× | -1.8% | -2.5% |
| Center International 603098.SS | China | $847M | -26% | -30% | 4% | n/a | n/a | n/a |
| Samhyun 437730.KS | South Korea | $860M | -31% | -18% | -17% | n/a | n/a | n/a |
| IFE Elevators 002774.SZ | China | $677M | +10% | +3% | 2% | n/a | 30.1% | +9.3% |
| Arrow Home 001322.SZ | China | $887M | -14% | -12% | -2% | 280.0× | 15.8% | -0.1% |
| LSI Industries LYTS | United States | $642M | -30% | +20% | 7% | 14.3× | 7.7% | +16.9% |
| Elegant Home-Tech 603221.SS | China | $635M | +53% | -9% | -6% | 18.8× | n/a | n/a |
| Janus International JBI | United States | $633M | -11% | 0% | 11% | 7.0× | 2.9% | -4.6% |
| Jiangsu Seagull Cooling Tower 603269.SS | China | $943M | +40% | +8% | 11% | 38.4× | n/a | n/a |
| Zhenjiang Dongfang Electric Heating Technology 300217.SZ | China | $944M | -17% | -23% | 0% | 26.6× | 22.5% | +6.5% |
| Runa Smart Equipment 301129.SZ | China | $617M | -26% | +18% | 20% | 14.3× | 18.1% | +5.5% |
| Quanex Building Products NX | United States | $949M | +2% | +1% | 6% | 10.7× | 6.0% | +16.6% |
| Century Iron & Steel Industrial 9958.TW | Taiwan | $611M | -25% | +18% | 21% | 6.0× | n/a | n/a |
| Guangzhou Guangri Stock 600894.SS | China | $956M | -20% | +2% | 0% | 9.6× | 7.2% | +1.4% |
| Apogee Enterprises APOG | United States | $956M | +25% | +3% | 9% | 13.6× | -0.3% | +2.7% |