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Chinese maker of transmission synchronizer rings and gear components for manual and automated manual transmissions.
Chinese maker of transmission synchronizer rings and gear components for manual and automated manual transmissions.
Sells to transmission makers on supply contracts for each vehicle programme, so volumes depend on how many manual and automated manual gearboxes its customers build. Electric vehicles use single-speed reduction gears without synchronizers, so the shift away from manual gearboxes is a structural pressure on the product.
Moat: narrow (process know-how). Precision synchronizer manufacturing requires specialized metallurgy and machining know-how.
Headquarters: Wenzhou, Zhejiang, China · Employees: 3,771
Size Zhejiang Wanliyang (002434.SZ) is a China Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.19B, the 1973rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.19 on 6 Nov 2026.
Performance Over six months the shares fell 12.8%, against -12.7% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 30.0% over the last twelve months (peer median +11.3%); the operating margin is -9.7% (peer median 7.2%).
Valuation It trades at 15.5× forward earnings against a peer median of 12.2× (6th most expensive of 15).
Capital Return on invested capital runs 8.9 points below its cost of capital (9.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.14B | CN¥5.43B | CN¥6.03B | CN¥5.91B | CN¥5.08B |
| Revenue growth | — | -10% | +2% | +16% | — |
| Gross profit | CN¥584M | CN¥542M | CN¥837M | CN¥857M | CN¥744M |
| EBITDA | n/a | CN¥578M | CN¥812M | CN¥802M | CN¥616M |
| Net income | -CN¥97.6M | CN¥240M | CN¥240M | CN¥301M | CN¥300M |
| Free cash flow | -CN¥347M | CN¥183M | -CN¥71.8M | CN¥22.8M | CN¥354M |
| Capital expenditure | CN¥448M | CN¥698M | CN¥542M | CN¥425M | CN¥248M |
| Total debt | CN¥1.65B | CN¥1.96B | CN¥2.72B | CN¥2.75B | CN¥2.74B |
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 Wanliyang 002434.SZ | $1.19B | -13% | -30% | -10% | 15.5× | n/a |
| Shuanglin 300100.SZ | $1.80B | -27% | -11% | 4% | 32.6× | 25.5% |
| Ningbo Zhongda Leader Intelligent Transmission 002896.SZ | $1.69B | -18% | +22% | 4% | 132.1× | n/a |
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 | 002434.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.8% | -4.4% | 4th highest of 21 |
| 6-month return | -12.8% | -12.7% | 10th lowest of 20 |
| Distance from 52-week high | -45.3% | -28.1% | 8th lowest of 21 |
| Revenue growth (TTM) | -30.0% | +11.3% | lowest of 20 |
| Operating margin | -9.7% | 7.2% | 2nd lowest of 21 |
| Forward P/E | 15.5× | 12.2× | 6th most expensive of 15 |
| ROIC minus cost of capital | -8.9 pp | +1.7 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Wanliyang 002434.SZ | China | $1.19B | -13% | -30% | -10% | 15.5× | n/a | n/a |
| F.C.C.Co 7296.T | Japan | $1.20B | +20% | +10% | 8% | 9.0× | -7.1% | +12.3% |
| Sichuan Chengfei Integration Technology 002190.SZ | China | $1.20B | -24% | +9% | -1% | n/a | n/a | n/a |
| Zhejiang EV-Tech 301607.SZ | China | $1.18B | -7% | +60% | 6% | 20.3× | 24.2% | +35.3% |
| NASN Intelligent Tech (Zhejiang) 2261.HK | Hong Kong | $1.21B | n/a | +57% | -12% | n/a | n/a | n/a |
| Ruifeng Power 2025.HK | Hong Kong | $1.22B | +29% | +4% | 1% | n/a | n/a | n/a |
| Xiangyang Automobile Bearing 000678.SZ | China | $1.22B | +53% | -3% | -3% | n/a | n/a | n/a |
| SKF India (Industrial) SKFINDUS.NS | India | $1.23B | +9% | n/a | 11% | 33.3× | 36.9% | n/a |
| Kuangda Technology 002516.SZ | China | $1.16B | -13% | +3% | 12% | n/a | 9.3% | +9.0% |
| Wuxi Zhenhua Auto Parts 605319.SS | China | $1.16B | -18% | +13% | 20% | 14.6× | -4.7% | +16.0% |
| KYB 7242.T | Japan | $1.15B | +10% | +11% | 6% | 9.6× | -0.4% | +8.0% |
| JBM Auto JBMA.NS | India | $1.24B | -21% | +16% | 9% | n/a | n/a | n/a |
| Exedy 7278.T | Japan | $1.14B | -17% | 0% | 7% | 11.3× | -6.9% | +6.0% |
| Guangzhou Ruili Kormee Automotive Electronic 001285.SZ | China | $1.14B | -22% | +21% | 14% | 17.4× | n/a | n/a |
| Adient ADNT | United States | $1.26B | -28% | +4% | 3% | 6.1× | -17.6% | +2.1% |
| Hong Leong Asia H22.SI | Singapore | $1.26B | -40% | +17% | 9% | 9.5× | -12.9% | +2.9% |
| Hl Mando 204320.KS | South Korea | $1.13B | -43% | +2% | 3% | 9.6× | -19.9% | +11.2% |
| Jiangsu Yunyi Electric 300304.SZ | China | $1.27B | -19% | +14% | 17% | 16.9× | 17.1% | +23.4% |
| Saf-holland SFQ.DE | Germany | $1.11B | +9% | 0% | 8% | 13.2× | 0.9% | +12.6% |
| Varroc Engineering VARROC.NS | India | $1.28B | +40% | +22% | 6% | 31.5× | 29.9% | +15.1% |
| JOST Werke JST.DE | Germany | $1.11B | +5% | +32% | 7% | 10.8× | 3.0% | +14.1% |