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Maker of motors for home appliances (air conditioners) and EV drive motors/components.
Maker of motors for home appliances (air conditioners) and EV drive motors/components.
Sells motors, mostly for air conditioners, in high volume to a few large appliance makers, so orders follow those makers' production plans and the summer season. EV drive motors are a newer line sold to carmakers and bus makers, where qualification takes time and orders are programme-based.
Moat: narrow (customer qualification, scale). Long-standing motor supplier to China's top appliance makers, now extending qualification into EV motors.
Headquarters: Zhongshan, Guangdong, China · Founded: 1993 · Employees: 13,102
Size Zhongshan Broad-Ocean Motor (002249.SZ) is a China Industrials company (Electrical Products) with a market value of $2.73B, the 937th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.37 on 6 Nov 2026.
Performance Over six months the shares fell 21.4%, against -34.1% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 0.8% over the last twelve months (peer median +18.9%); the operating margin is 5.7% (peer median 10.2%).
Valuation It trades at 1.6× enterprise value to sales against a peer median of 4.1× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (7.8% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥12.5B | CN¥12.2B | CN¥12.1B | CN¥11.3B | CN¥10.9B |
| Revenue growth | — | +1% | +7% | +3% | — |
| Gross profit | CN¥2.68B | CN¥2.52B | CN¥2.50B | CN¥2.21B | CN¥1.96B |
| EBITDA | n/a | CN¥1.37B | CN¥1.31B | CN¥996M | CN¥909M |
| Net income | CN¥728M | CN¥1.08B | CN¥888M | CN¥630M | CN¥427M |
| Free cash flow | CN¥1.80B | CN¥1.37B | CN¥2.08B | CN¥1.49B | CN¥1.23B |
| Capital expenditure | CN¥553M | CN¥740M | CN¥438M | CN¥478M | CN¥217M |
| Total debt | CN¥4.14B | CN¥3.45B | CN¥3.16B | CN¥2.76B | CN¥2.65B |
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 |
|---|---|---|---|---|---|---|
| Zhongshan Broad-Ocean Motor 002249.SZ | $2.73B | -21% | +1% | 6% | 1.6× | 7.7% |
| Wolong Electric 600580.SS | $5.39B | -39% | -11% | 4% | 2.7× | 25.2% |
| Shenzhen Inovance Technology 300124.SZ | $23.0B | -17% | +19% | 10% | 3.1× | 21.3% |
| Nidec 6594.T | $11.7B | -33% | +4% | -22% | 0.8× | 8.4% |
| Johnson Electric 0179.HK | $1.56B | -53% | 0% | 8% | 0.3× | -16.4% |
| Zhejiang Founder Motor 002196.SZ | $634M | -35% | +26% | 0% | 1.8× | n/a |
| Jiangsu Leili Motor 300660.SZ | $1.90B | -33% | +16% | 5% | 2.9× | 29.1% |
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 | 002249.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.0% | -8.2% | 2nd highest of 21 |
| 6-month return | -21.4% | -34.1% | 8th highest of 21 |
| Distance from 52-week high | -45.2% | -49.2% | 8th highest of 21 |
| Revenue growth (TTM) | +0.8% | +18.9% | lowest of 21 |
| Operating margin | 5.7% | 10.2% | 8th lowest of 21 |
| EV / Sales | 1.6× | 4.1× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 7.7% | 14.4% | 5th least demanding of 11 |
| Growth delivered (Del g) | +9.5% | +11.9% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | -1.8 pp | -6.0 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | -1.2 pp | -0.8 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhongshan Broad-Ocean Motor 002249.SZ | China | $2.73B | -21% | +1% | 6% | 1.6× | 7.7% | +9.5% |
| Qingdao Hanhe Cable 002498.SZ | China | $2.74B | -37% | +21% | 3% | 1.6× | n/a | n/a |
| Fortior Technology (Shenzhen) 1304.HK | Hong Kong | $2.76B | -15% | +54% | 25% | 16.4× | n/a | n/a |
| Daming Electronics 603376.SS | China | $2.71B | -22% | +110% | 9% | 5.9× | n/a | n/a |
| Schneider Electric Infrastructure SCHNEIDER.NS | India | $2.69B | -21% | +10% | 10% | 8.7× | 56.2% | +17.4% |
| Weihai Guangwei Composites 300699.SZ | China | $2.68B | -35% | +12% | 16% | 6.9× | 13.8% | +6.2% |
| Tianneng Battery 688819.SS | China | $2.79B | -37% | +2% | 0% | 0.4× | -7.9% | +5.4% |
| GS Yuasa 6674.T | Japan | $2.67B | -33% | +6% | 10% | 0.9× | n/a | n/a |
| Shijiazhuang Shangtai Technology 001301.SZ | China | $2.80B | -16% | +34% | 13% | 2.6× | n/a | n/a |
| Shenzhen Senior Technology Material 300568.SZ | China | $2.80B | -23% | +45% | 10% | 5.3× | n/a | n/a |
| Ming Yang Smart Energy 601615.SS | China | $2.80B | -47% | +8% | -4% | 1.5× | n/a | n/a |
| Huaming Power Equipment 002270.SZ | China | $2.66B | -19% | +7% | 32% | 6.7× | 5.9% | +12.3% |
| Baoding Tianwei Baobian Electric 600550.SS | China | $2.65B | -36% | +13% | 4% | 2.9× | 45.5% | +7.1% |
| Luster LightTech 688400.SS | China | $2.63B | -37% | +10% | 0% | 5.5× | 56.8% | +10.7% |
| Mabuchi Motor 6592.T | Japan | $2.84B | +18% | +12% | 12% | 1.6× | 5.8% | +11.5% |
| Time Interconnect Technology 1729.HK | Hong Kong | $2.84B | -57% | +84% | 7% | 1.2× | n/a | n/a |
| Sanil Electric 062040.KS | South Korea | $2.62B | -56% | +29% | 36% | 5.9× | 15.1% | +50.8% |
| Zhuhai CosMX Battery 688772.SS | China | $2.88B | +2% | +18% | -2% | 2.0× | n/a | n/a |
| TDG 600330.SS | China | $2.96B | -43% | +21% | -19% | 5.5× | n/a | n/a |
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | China | $2.98B | -37% | +20% | 15% | 2.0× | 1.8% | +15.6% |
| HBL Engineering HBLENGINE.NS | India | $2.46B | -1% | +63% | 31% | 7.0× | 22.6% | +29.4% |