Loading…
Chinese maker of smart controllers and battery-management systems for power tools, appliances and e-mobility.
Chinese maker of smart controllers and battery-management systems for power tools, appliances and e-mobility.
Designs controller boards and battery packs to each customer's product, then makes them in volume, so it is paid per unit under supply arrangements that run for the product's life. Sales are tied to a few large power-tool and appliance brands' shipment volumes.
In one line: A smaller, China-based smart-controller/BMS supplier.
Moat: narrow (customer qualification, process know-how). Embedded controller design qualified into OEM product platforms, raising switching cost.
Headquarters: Shenzhen, China · Employees: 13,208
Size Shenzhen Topband (002139.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $1.81B, the 1386th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.81 on 6 Nov 2026.
Performance Over six months the shares fell 8.4%, against -20.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 8.9% over the last twelve months (peer median +4.2%); the operating margin is 2.8% (peer median 7.5%).
Valuation It trades at 37.7× forward earnings against a peer median of 16.3× (4th most expensive of 16).
Capital Return on invested capital runs 0.8 points below its cost of capital (6.7% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥12.0B | CN¥11.1B | CN¥10.5B | CN¥8.96B | CN¥8.84B |
| Revenue growth | — | +6% | +17% | +1% | — |
| Gross profit | CN¥2.53B | CN¥2.15B | CN¥2.19B | CN¥1.80B | CN¥1.62B |
| EBITDA | n/a | CN¥946M | CN¥1.12B | CN¥830M | CN¥691M |
| Net income | CN¥142M | CN¥364M | CN¥671M | CN¥516M | CN¥583M |
| Free cash flow | -CN¥240M | -CN¥36.5M | CN¥356M | CN¥680M | -CN¥240M |
| Capital expenditure | CN¥545M | CN¥727M | CN¥748M | CN¥797M | CN¥735M |
| Total debt | CN¥4.42B | CN¥3.45B | CN¥2.87B | CN¥2.11B | CN¥2.33B |
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 Topband 002139.SZ | $1.81B | -8% | +9% | 3% | 37.7× | n/a |
| Johnson Electric 0179.HK | $1.56B | -53% | 0% | 8% | 10.8× | -16.4% |
| Delta Electronic 2308.TW | $82.9B | -51% | +38% | 17% | 19.0× | 18.5% |
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 | 002139.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | -7.8% | 5th highest of 21 |
| 6-month return | -8.4% | -20.0% | 6th highest of 21 |
| Distance from 52-week high | -33.0% | -47.1% | 7th highest of 21 |
| Revenue growth (TTM) | +8.9% | +4.2% | 8th highest of 21 |
| Operating margin | 2.8% | 7.5% | 6th lowest of 21 |
| Forward P/E | 37.7× | 16.3× | 4th most expensive of 16 |
| ROIC minus cost of capital | -0.8 pp | -0.8 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Topband 002139.SZ | China | $1.81B | -8% | +9% | 3% | 37.7× | n/a | n/a |
| Beijing Aerospace Shenzhou Intelligent Equipment Technology 300455.SZ | China | $1.81B | -36% | -29% | -4% | n/a | n/a | n/a |
| Shanghai Feilo Acoustics 600651.SS | China | $1.82B | -30% | -11% | -3% | n/a | n/a | n/a |
| Hanwei Electronics 300007.SZ | China | $1.79B | -15% | -3% | 2% | 65.2× | 40.9% | +4.6% |
| Oxford Instruments OXIG.L | United Kingdom | $1.79B | -16% | -15% | 15% | 21.9× | 20.1% | +5.8% |
| Suzhou Hengmingda Electronic Technology 002947.SZ | China | $1.78B | -43% | +13% | 18% | 15.6× | 9.4% | +34.8% |
| Anritsu 6754.T | Japan | $1.87B | -45% | +21% | 15% | 16.3× | 11.3% | +2.1% |
| Jiangsu Linyang Energy 601222.SS | China | $1.74B | -6% | +35% | 8% | 15.4× | n/a | n/a |
| Shenzhen Everbest Machinery Industry 002980.SZ | China | $1.90B | -16% | +64% | 23% | n/a | n/a | n/a |
| Goodwe Technologies 688390.SS | China | $1.93B | -51% | +53% | 5% | 17.1× | 17.4% | +41.2% |
| Diebold Nixdorf DBD | United States | $1.96B | -25% | +6% | 9% | 10.5× | -2.0% | -0.5% |
| Suzhou TZTEK Technology 688003.SS | China | $1.67B | -19% | +33% | 5% | 64.3× | 42.0% | +13.2% |
| Zhejiang HangKe Technology 688006.SS | China | $1.64B | -43% | +12% | 3% | 24.0× | 16.0% | +14.9% |
| ULVAC 6728.T | Japan | $2.01B | -34% | +7% | 7% | 15.5× | 14.1% | +8.0% |
| Shenzhen VMAX New Energy (Group) 688612.SS | China | $1.63B | -21% | -6% | 9% | 17.5× | 18.8% | +57.4% |
| Hexing Electrical 603556.SS | China | $1.61B | -23% | +6% | 9% | 14.2× | 0.1% | +11.3% |
| Glory 6457.T | Japan | $1.53B | +16% | -8% | 9% | 12.2× | -8.1% | +9.3% |
| TAIFLEX Scientific 8039.TW | Taiwan | $1.51B | +36% | +3% | 6% | n/a | 28.3% | +3.9% |
| Hangzhou Kelin Electric 688611.SS | China | $1.51B | +4% | -58% | -32% | 48.1× | n/a | n/a |
| Amano 6436.T | Japan | $1.50B | -4% | +1% | 11% | 13.7× | -7.6% | +9.2% |
| Zhejiang Dali Technology 002214.SZ | China | $1.45B | -15% | +1% | -68% | n/a | n/a | n/a |