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Chinese maker of automotive air-conditioning compressors, including electric compressors for new-energy vehicles.
Chinese maker of automotive air-conditioning compressors, including electric compressors for new-energy vehicles.
Sells compressors to car makers, which specify them into each vehicle model and re-source rarely, so contract wins and model volumes drive revenue. Electric compressors are the growth area, because a battery-electric car has no engine belt to drive a mechanical one.
Moat: narrow (customer qualification, process know-how). AC compressor designs are qualified into specific vehicle platforms with automakers.
Headquarters: Changchun, China · Employees: 5,407
Size Aotecar New Energy Technology (002239.SZ) is a China Industrials company (Industrial Machinery) with a market value of $1.25B, the 1910th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.40 on 6 Nov 2026.
Performance Over six months the shares fell 17.0%, against -24.9% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue fell 7.4% over the last twelve months (peer median +5.7%); the operating margin is 2.6% (peer median 5.2%).
Valuation It trades at 1.2× enterprise value to sales against a peer median of 4.2× (4th cheapest of 21).
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 +17%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.1 points below its cost of capital (7.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.87B | CN¥8.18B | CN¥8.13B | CN¥6.81B | CN¥6.20B |
| Revenue growth | — | +1% | +19% | +10% | — |
| Gross profit | CN¥1.34B | CN¥1.08B | CN¥1.02B | CN¥845M | CN¥857M |
| EBITDA | n/a | CN¥542M | CN¥496M | CN¥471M | CN¥409M |
| Net income | CN¥224M | CN¥195M | CN¥106M | CN¥73.2M | CN¥89.0M |
| Free cash flow | CN¥326M | CN¥927M | CN¥139M | -CN¥248M | CN¥83.5M |
| Capital expenditure | CN¥335M | CN¥186M | CN¥296M | CN¥311M | CN¥295M |
| Total debt | CN¥1.80B | CN¥2.33B | CN¥3.49B | CN¥4.12B | CN¥3.81B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Aotecar New Energy Technology 002239.SZ | $1.25B | -17% | -7% | 3% | 1.2× | 11.9% |
| Hanon Systems 018880.KS | $2.31B | -28% | +5% | 4% | 0.6× | 3.6% |
| Denso 6902.T | $32.5B | -1% | +7% | 7% | 0.7× | 3.4% |
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 | 002239.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.4% | -23.8% | 7th highest of 21 |
| 6-month return | -17.0% | -24.9% | 5th highest of 20 |
| Distance from 52-week high | -30.6% | -59.4% | 3rd highest of 21 |
| Revenue growth (TTM) | -7.4% | +5.7% | 3rd lowest of 21 |
| Operating margin | 2.6% | 5.2% | 7th lowest of 21 |
| EV / Sales | 1.2× | 4.2× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 11.9% | 18.5% | 4th least demanding of 10 |
| Growth delivered (Del g) | +17.1% | +10.5% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | -5.1 pp | +8.7 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | -3.1 pp | -4.0 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aotecar New Energy Technology 002239.SZ | China | $1.25B | -17% | -7% | 3% | 1.2× | 11.9% | +17.1% |
| Durr DUE.DE | Germany | $1.25B | -24% | +2% | 4% | 0.3× | -3.3% | +4.6% |
| HUYNDAI MOVEX 319400.KS | South Korea | $1.24B | -51% | +2% | 3% | 4.4× | n/a | n/a |
| Aux Electric 2580.HK | Hong Kong | $1.26B | -37% | +1% | 8% | 0.2× | n/a | n/a |
| Seikoh Giken 6834.T | Japan | $1.23B | +17% | +55% | 28% | 5.3× | 24.6% | +15.2% |
| Hangzhou Honghua Digital Technology Stock 688789.SS | China | $1.27B | -22% | -7% | 18% | 4.2× | n/a | n/a |
| Hefei Metalforming Intelligent Manufacturing 603011.SS | China | $1.22B | -18% | -15% | -11% | 4.3× | n/a | n/a |
| SanFeng Intelligent Equipment 300276.SZ | China | $1.27B | -8% | +6% | -10% | 4.7× | 18.5% | +8.7% |
| Tennant TNC | United States | $1.22B | -18% | 0% | 4% | 1.2× | n/a | n/a |
| Shenzhen Creality 3D Technology 3388.HK | Hong Kong | $1.28B | n/a | +468% | 1% | 2.6× | n/a | n/a |
| Shuangliang Eco-Energy Systems 600481.SS | China | $1.21B | -36% | -29% | -29% | 2.6× | n/a | n/a |
| Eugene Technology 084370.KS | South Korea | $1.21B | -43% | +2% | 15% | 3.5× | 16.3% | +11.6% |
| Union Tool 6278.T | Japan | $1.20B | -41% | +40% | 25% | 2.9× | 22.0% | +12.0% |
| Yizumi 300415.SZ | China | $1.29B | -25% | +13% | 11% | 1.8× | 9.6% | +17.4% |
| Ariston ARIS.MI | Italy | $1.20B | -17% | +5% | 6% | 0.6× | 0.1% | +10.5% |
| Wafer Works 6182.TWO | Taiwan | $1.30B | +42% | +9% | 4% | 5.9× | n/a | n/a |
| SVG 300331.SZ | China | $1.19B | -42% | +6% | 2% | 4.1× | 46.0% | +8.1% |
| Guangdong Anda Automation Solutions 688125.SS | China | $1.19B | -55% | +56% | 2% | 7.0× | n/a | n/a |
| Sprint Precision Technologies 688605.SS | China | $1.31B | -3% | +16% | 10% | 6.1× | n/a | n/a |
| Ableprint Technology 7734.TWO | Taiwan | $1.31B | -58% | +48% | 50% | 12.6× | 18.8% | +10.1% |
| GKG Precision Machine 301338.SZ | China | $1.32B | -57% | +38% | 17% | 5.6× | n/a | n/a |