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Chinese ODM/OEM maker of small kitchen appliances such as kettles and blenders for global brands, plus own brands.
Chinese ODM/OEM maker of small kitchen appliances such as kettles and blenders for global brands, plus own brands.
Builds kettles, blenders and other small appliances to brand owners' designs and is paid per unit, with Groupe SEB, the French owner of Tefal and Moulinex, as a major customer. Volumes therefore follow a few large buyers' ordering, and own-brand sales are the smaller part.
In one line: A contract manufacturer like a smaller SEB/Hamilton Beach supplier.
Moat: narrow (scale, process know-how). Large-scale contract manufacturing relationship with Groupe SEB and other global brands.
Headquarters: Foshan, Guangdong, China · Employees: 35,034
Size Guangdong Xinbao Electrical Appliances (002705.SZ) is a China Consumer Discretionary company (Electronics/Appliances) with a market value of $1.38B, the 1762nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.41 on 6 Nov 2026.
Performance Over six months the shares fell 24.6%, against -14.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median +4.9%); the operating margin is 4.2% (peer median 7.7%).
Valuation It trades at 24.3× forward earnings against a peer median of 25.1× (8th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.8 points above its cost of capital (6.5% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.8B | CN¥16.1B | CN¥16.7B | CN¥14.6B | CN¥13.6B |
| Revenue growth | — | -4% | +15% | +7% | — |
| Gross profit | CN¥3.25B | CN¥3.20B | CN¥3.35B | CN¥3.20B | CN¥2.74B |
| EBITDA | n/a | CN¥2.03B | CN¥1.98B | CN¥1.85B | CN¥1.54B |
| Net income | CN¥380M | CN¥999M | CN¥1.05B | CN¥977M | CN¥961M |
| Free cash flow | CN¥21.2M | CN¥394M | CN¥319M | -CN¥74.1M | CN¥412M |
| Capital expenditure | CN¥700M | CN¥927M | CN¥1.04B | CN¥1.98B | CN¥1.04B |
| Total debt | CN¥4.48B | CN¥3.95B | CN¥4.12B | CN¥3.83B | CN¥3.06B |
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 |
|---|---|---|---|---|---|---|
| Guangdong Xinbao Electrical Appliances 002705.SZ | $1.38B | -25% | -4% | 4% | 24.3× | -2.7% |
| Joyoung 002242.SZ | $2.87B | +131% | -7% | -1% | 159.7× | n/a |
| Zhejiang Supor 002032.SZ | $5.37B | -4% | 0% | 10% | 18.0× | -2.8% |
| Midea 000333.SZ | $101B | +10% | +2% | 9% | 14.5× | -3.2% |
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 | 002705.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.6% | -5.1% | 8th highest of 21 |
| 6-month return | -24.6% | -14.7% | 7th lowest of 20 |
| Distance from 52-week high | -42.0% | -40.5% | 10th lowest of 21 |
| Revenue growth (TTM) | -3.5% | +4.9% | 3rd lowest of 21 |
| Operating margin | 4.2% | 7.7% | 10th lowest of 21 |
| Forward P/E | 24.3× | 25.1× | 8th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -2.7% | 7.4% | 3rd least demanding of 11 |
| Growth delivered (Del g) | +4.2% | +7.0% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | -6.9 pp | -2.0 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +2.8 pp | +1.1 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Xinbao Electrical Appliances 002705.SZ | China | $1.38B | -25% | -4% | 4% | 24.3× | -2.7% | +4.2% |
| Tamron 7740.T | Japan | $1.39B | +22% | +2% | 17% | 15.3× | 5.9% | +12.0% |
| Gettop Acoustic 002655.SZ | China | $1.39B | -19% | +11% | 2% | n/a | n/a | n/a |
| Guangdong TCL Smart Home Appliances 002668.SZ | China | $1.37B | -12% | +4% | 12% | 8.4× | -18.7% | +17.4% |
| OneRobotics (Shenzhen) 6600.HK | Hong Kong | $1.41B | -55% | +48% | -9% | n/a | n/a | n/a |
| Shenzhen Newway Photomask Making 688401.SS | China | $1.45B | -27% | +18% | 26% | 17.9× | 23.6% | +23.7% |
| Actions Technology 688049.SS | China | $1.25B | -1% | +26% | 17% | 30.3× | n/a | n/a |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
| Edifier Technology 002351.SZ | China | $1.60B | +8% | -1% | 18% | 22.3× | 3.0% | +7.6% |
| Tatung 2371.TW | Taiwan | $1.70B | -15% | +8% | 4% | 10.0× | n/a | n/a |
| Whirlpool Of India WHIRLPOOL.NS | India | $1.11B | -16% | +6% | 2% | 29.3× | 47.2% | +6.4% |
| Hangzhou Heatwell Electric Heating Technology 603075.SS | China | $1.05B | -26% | +11% | 15% | n/a | 9.0% | +7.9% |
| Ningbo Fujia Industrial 603219.SS | China | $1.03B | -26% | +3% | 4% | 55.6× | n/a | n/a |
| XGimi Technology 688696.SS | China | $1.01B | +7% | +4% | 2% | 27.9× | n/a | n/a |
| Hefei I-TEK OptoElectronics 688610.SS | China | $1.01B | +18% | +72% | 14% | 45.9× | n/a | n/a |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Woori Technology 032820.KS | South Korea | $984M | -64% | -2% | -12% | n/a | n/a | n/a |
| Ningbo Hicon Industry Technology 001237.SZ | China | $969M | n/a | -10% | 14% | n/a | 9.9% | -10.3% |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Whirlpool China 600983.SS | China | $936M | -13% | -2% | 11% | 14.0× | -7.2% | -1.9% |