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Hangzhou maker of car brake systems, including electronic and by-wire braking, for Chinese and overseas carmakers.
Hangzhou maker of car brake systems, including electronic and by-wire braking, for Chinese and overseas carmakers.
Sells brake systems to carmakers for new vehicles, so output follows its customers' production schedules. Newer by-wire (electronically controlled) brakes entered volume production in 2024 and are still a small line. Exports to the Americas, Europe and the Middle East supplement the home market, and a plant in Morocco is in preparation.
Moat: narrow (customer qualification, process know-how). Brake parts need long carmaker approval cycles; a domestic supplier facing larger global rivals.
Headquarters: Hangzhou, China · Founded: 1979 · Employees: 3,037
Size Zhejiang Asia-Pacific Mechanical & Electronic (002284.SZ) is a China Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.05B, the 2213th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.44 on 6 Nov 2026.
Performance Over six months the shares fell 29.0%, against -17.9% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 10.4% over the last twelve months (peer median +4.4%); the operating margin is 9.3% (peer median 6.7%).
Valuation It trades at 10.7× forward earnings against a peer median of 13.9× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.3 points above its cost of capital (8.6% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.77B | CN¥5.60B | CN¥4.25B | CN¥3.87B | CN¥3.74B |
| Revenue growth | — | +32% | +10% | +3% | — |
| Gross profit | CN¥1.39B | CN¥1.09B | CN¥696M | CN¥560M | CN¥432M |
| EBITDA | n/a | CN¥710M | CN¥392M | CN¥353M | CN¥262M |
| Net income | CN¥592M | CN¥490M | CN¥213M | CN¥97.0M | CN¥67.9M |
| Free cash flow | CN¥752M | CN¥1.01B | CN¥589M | CN¥545M | CN¥207M |
| Capital expenditure | CN¥431M | CN¥339M | CN¥199M | CN¥183M | CN¥197M |
| Total debt | CN¥2.53B | CN¥2.95B | CN¥2.32B | CN¥2.09B | CN¥2.54B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Asia-Pacific Mechanical & Electronic 002284.SZ | $1.05B | -29% | +10% | 9% | 10.7× | -1.8% |
| Bethel Automotive Safety Systems 603596.SS | $3.70B | -11% | +21% | 10% | 16.0× | 7.0% |
| Zhejiang VIE Science & Technology 002590.SZ | $723M | -22% | +8% | 4% | n/a | 9.1% |
| Continental CON.DE | $15.8B | +2% | -35% | n/a | 12.1× | -0.2% |
| Brembo BRE.MI | $5.62B | -11% | -3% | 7% | 13.7× | 17.3% |
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 | 002284.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.5% | -1.9% | 7th highest of 21 |
| 6-month return | -29.0% | -17.9% | 6th lowest of 21 |
| Distance from 52-week high | -49.4% | -42.8% | 6th lowest of 21 |
| Revenue growth (TTM) | +10.4% | +4.4% | 9th highest of 21 |
| Operating margin | 9.3% | 6.7% | 7th highest of 21 |
| Forward P/E | 10.7× | 13.9× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -1.8% | 2.0% | 5th least demanding of 17 |
| Growth delivered (Del g) | +13.9% | +8.5% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -15.8 pp | -9.7 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | +8.3 pp | +0.9 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Asia-Pacific Mechanical & Electronic 002284.SZ | China | $1.05B | -29% | +10% | 9% | 10.7× | -1.8% | +13.9% |
| Bohai Automotive Systems 600960.SS | China | $1.04B | -13% | -26% | -2% | 16.5× | n/a | n/a |
| Topre 5975.T | Japan | $1.04B | +32% | +5% | 8% | 7.6× | -1.2% | +12.0% |
| Zotye Automobile 000980.SZ | China | $1.05B | -35% | -33% | -93% | n/a | 37.5% | -17.1% |
| Dauch DCH | United States | $1.07B | -32% | +41% | 3% | 5.5× | n/a | n/a |
| ARB ARB.AX | Australia | $1.08B | +1% | -4% | 16% | 17.0× | 15.7% | +2.4% |
| HyUnion 002537.SZ | China | $1.01B | -21% | -6% | 4% | n/a | -1.7% | +1.7% |
| Guilin Fuda 603166.SS | China | $1.01B | -25% | +9% | 15% | 17.9× | n/a | n/a |
| Fuxin Dare Automotive Parts 300473.SZ | China | $1.10B | +28% | +21% | 5% | 33.5× | 20.8% | +10.0% |
| JOST Werke JST.DE | Germany | $1.11B | +5% | +32% | 7% | 10.8× | 3.0% | +14.1% |
| Saf-holland SFQ.DE | Germany | $1.11B | +9% | 0% | 8% | 13.2× | 0.9% | +12.6% |
| Hl Mando 204320.KS | South Korea | $1.13B | -43% | +2% | 3% | 9.6× | -19.9% | +11.2% |
| Hyundai Wia 011210.KS | South Korea | $962M | -41% | +12% | 2% | 10.2× | -11.0% | +5.2% |
| Ningbo TIP Rubber Technology 605255.SS | China | $959M | -53% | -9% | 5% | n/a | 47.5% | +0.9% |
| Guangzhou Ruili Kormee Automotive Electronic 001285.SZ | China | $1.14B | -22% | +21% | 14% | 17.4× | n/a | n/a |
| Exedy 7278.T | Japan | $1.14B | -17% | 0% | 7% | 11.3× | -6.9% | +6.0% |
| KYB 7242.T | Japan | $1.15B | +10% | +11% | 6% | 9.6× | -0.4% | +8.0% |
| Wuxi Zhenhua Auto Parts 605319.SS | China | $1.16B | -18% | +13% | 20% | 14.6× | -4.7% | +16.0% |
| Kuangda Technology 002516.SZ | China | $1.16B | -13% | +3% | 12% | n/a | 9.3% | +9.0% |
| Fujian Longxi Bearing (Group) 600592.SS | China | $926M | -19% | -2% | 11% | 28.9× | 14.0% | +3.0% |
| Zhejiang EV-Tech 301607.SZ | China | $1.18B | -7% | +60% | 6% | 20.3× | 24.2% | +35.3% |