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Chinese maker of industrial power-electronics products: welding machines, servo drives, EV charging equipment and power supplies.
Chinese maker of industrial power-electronics products: welding machines, servo drives, EV charging equipment and power supplies.
In one line: A smaller, diversified peer to Eaton/ABB's power-electronics businesses.
Moat: narrow (process know-how, customer qualification). Diversified power-electronics engineering across several industrial niches, none individually dominant.
Headquarters: Shenzhen, China · Founded: 1996 · Employees: 8,894
Size Shenzhen Megmeet Electrical (002851.SZ) is a China Industrials company (Electrical Products) with a market value of $6.55B, the 375th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥74.98 on 6 Nov 2026.
Performance Over six months the shares fell 37.6%, against -13.9% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 28.6% over the last twelve months (peer median +28.6%); the operating margin is 1.0% (peer median 14.2%).
Valuation It trades at 60.9× forward earnings against a peer median of 22.2× (2nd most expensive of 20).
Capital Return on invested capital runs 10.7 points below its cost of capital (13.4% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥11.6B | CN¥9.37B | CN¥8.15B | CN¥6.73B | CN¥5.47B |
| Revenue growth | — | +15% | +21% | +23% | — |
| Gross profit | CN¥2.64B | CN¥1.94B | CN¥1.94B | CN¥1.58B | CN¥1.24B |
| EBITDA | n/a | CN¥436M | CN¥685M | CN¥552M | CN¥447M |
| Net income | CN¥395M | CN¥146M | CN¥436M | CN¥629M | CN¥473M |
| Free cash flow | -CN¥1.02B | -CN¥550M | -CN¥197M | -CN¥72.5M | -CN¥375M |
| Capital expenditure | CN¥473M | CN¥439M | CN¥358M | CN¥396M | CN¥372M |
| Total debt | CN¥2.98B | CN¥3.32B | CN¥2.49B | CN¥2.86B | CN¥2.59B |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Megmeet Electrical 002851.SZ | $6.55B | -38% | +29% | 1% | 60.9× | n/a |
| Shenzhen Inovance Technology 300124.SZ | $23.0B | -17% | +19% | 10% | 27.0× | 21.3% |
| Eaton ETN | $133B | -15% | +20% | 19% | 21.4× | 19.1% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Delta Electronic 2308.TW | $82.9B | -51% | +38% | 17% | 19.0× | 18.5% |
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 | 002851.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.1% | -6.4% | 5th lowest of 21 |
| 6-month return | -37.6% | -13.9% | 5th lowest of 21 |
| Distance from 52-week high | -60.5% | -44.6% | 5th lowest of 21 |
| Revenue growth (TTM) | +28.6% | +28.6% | 11th highest of 21 |
| Operating margin | 1.0% | 14.2% | lowest of 21 |
| Forward P/E | 60.9× | 22.2× | 2nd most expensive of 20 |
| ROIC minus cost of capital | -10.7 pp | +0.8 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Megmeet Electrical 002851.SZ | China | $6.55B | -38% | +29% | 1% | 60.9× | n/a | n/a |
| Ecopro BM 247540.KS | South Korea | $6.53B | -60% | -4% | 6% | 965.8× | n/a | n/a |
| Hunan Yuneng New Energy Battery Material 301358.SZ | China | $6.46B | -50% | +130% | 9% | 7.8× | n/a | n/a |
| Gotion High-tech 002074.SZ | China | $6.45B | -32% | +54% | 3% | 25.6× | n/a | n/a |
| Nkt A/s NKT.CO | Denmark | $6.73B | -15% | +2% | 7% | 26.4× | n/a | n/a |
| Shanghai Putailai New Energy Technology 603659.SS | China | $6.87B | -41% | +44% | 14% | 14.2× | n/a | n/a |
| Jiangsu Yoke Technology 002409.SZ | China | $6.12B | +1% | +7% | 15% | 32.1× | 26.4% | +30.6% |
| Anji Microelectronics Technology (Shanghai) 688019.SS | China | $7.05B | +7% | +35% | 32% | 31.6× | 28.1% | +42.8% |
| Nexans NEX.PA | France | $6.06B | -26% | -13% | 6% | 17.2× | 5.6% | +5.5% |
| Gates Industrial GTES | United States | $6.05B | -8% | +4% | 16% | 12.8× | 9.7% | +4.3% |
| Goldenmax International 002636.SZ | China | $7.20B | +47% | +79% | 30% | n/a | 24.4% | +4.4% |
| Forgent Power Solutions FPS | United States | $5.93B | -52% | +89% | 14% | 14.4× | n/a | n/a |
| Ngk 5333.T | Japan | $7.43B | -13% | +10% | 16% | 13.1× | 4.4% | +8.2% |
| Shenzhen Kedali Industry 002850.SZ | China | $7.46B | -9% | +40% | 12% | 22.2× | n/a | n/a |
| Havells India HAVELLS.NS | India | $7.47B | -11% | +16% | 7% | 44.0× | 39.8% | +16.6% |
| Yaskawa Electric 6506.T | Japan | $5.71B | -38% | +6% | 8% | 19.7× | 24.8% | +6.8% |
| Shandong Sinocera Functional Material 300285.SZ | China | $5.67B | +8% | +23% | 14% | 48.6× | 40.1% | +12.6% |
| Suzlon Energy SUZLON.NS | India | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% | +37.9% |
| Hebei Sinopack Electronic Technology 003031.SZ | China | $5.62B | -33% | +43% | 19% | 36.1× | 34.9% | +28.6% |
| Zhuzhou CRRC Times Electric 688187.SS | China | $7.80B | -3% | +12% | 14% | 14.6× | n/a | n/a |
| Hongfa Technology 600885.SS | China | $7.81B | +8% | +34% | 14% | 22.9× | 9.0% | +17.2% |