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Dongguan maker of precision stamping dies and metal structural parts for cars, EV battery boxes, energy storage and telecom equipment.
Dongguan maker of precision stamping dies and metal structural parts for cars, EV battery boxes, energy storage and telecom equipment.
Using dies it makes in-house, it presses and assembles metal structural parts to customers' drawings, priced per piece, with carmakers the largest buyers. EV battery boxes and body structures lead, and energy-storage and telecom cabinets are smaller outlets.
Moat: narrow (process know-how, customer qualification). In-house die design and automaker qualification, but metal parts are a price-competitive supplier category.
Headquarters: Dongguan, China · Founded: 2004 · Employees: 8,639
Size Lucky Harvest (002965.SZ) is a China Industrials company (Metal Fabrication) with a market value of $923M, the 2464th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.18 on 6 Nov 2026.
Performance Over six months the shares fell 21.2%, against -24.3% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 18.2% over the last twelve months (peer median +10.9%); the operating margin is -0.2% (peer median 4.8%).
Valuation It trades at 59.4× forward earnings against a peer median of 30.0× (2nd most expensive of 12).
Capital Return on invested capital runs 3.7 points below its cost of capital (6.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.89B | CN¥7.91B | CN¥6.73B | CN¥5.69B | CN¥4.28B |
| Revenue growth | — | +18% | +18% | +33% | — |
| Gross profit | CN¥1.02B | CN¥861M | CN¥893M | CN¥953M | CN¥709M |
| EBITDA | n/a | CN¥362M | CN¥525M | CN¥602M | CN¥391M |
| Net income | -CN¥17.0M | CN¥155M | CN¥359M | CN¥407M | CN¥257M |
| Free cash flow | -CN¥437M | -CN¥167M | CN¥84.6M | CN¥128M | -CN¥225M |
| Capital expenditure | CN¥254M | CN¥195M | CN¥212M | CN¥240M | CN¥373M |
| Total debt | CN¥2.01B | CN¥1.89B | CN¥1.12B | CN¥1.15B | CN¥1.05B |
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| Measure | 002965.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.0% | -7.0% | 5th lowest of 21 |
| 6-month return | -21.2% | -24.3% | 10th highest of 21 |
| Distance from 52-week high | -59.9% | -48.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | +18.2% | +10.9% | 8th highest of 21 |
| Operating margin | -0.2% | 4.8% | 4th lowest of 21 |
| Forward P/E | 59.4× | 30.0× | 2nd most expensive of 12 |
| ROIC minus cost of capital | -3.7 pp | -2.2 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lucky Harvest 002965.SZ | China | $923M | -21% | +18% | 0% | 59.4× | n/a | n/a |
| Changjiang & Jinggong Steel Building (Group) 600496.SS | China | $931M | -25% | +1% | 3% | 9.7× | -1.5% | +12.7% |
| Zhejiang JW Precision Machinery 300984.SZ | China | $931M | -29% | +9% | 4% | 78.7× | n/a | n/a |
| Troax TROAX.ST | Sweden | $908M | +46% | 0% | 8% | 39.4× | 28.3% | +11.1% |
| Ningbo Sunrise Elc Technology 002937.SZ | China | $908M | -42% | +12% | 8% | 26.2× | 21.4% | +11.2% |
| Ningxia Guoyun New Energy 000595.SZ | China | $903M | -16% | +142% | 21% | n/a | n/a | n/a |
| Evergreen Steel 2211.TW | Taiwan | $943M | -24% | +9% | 21% | 9.5× | -9.2% | +10.4% |
| Hunan Corun New Energy 600478.SS | China | $901M | -53% | +46% | 4% | n/a | n/a | n/a |
| Guangzhou Newlife New Material 301323.SZ | China | $896M | -15% | +26% | 13% | 31.4× | n/a | n/a |
| Hsino Tower 601096.SS | China | $961M | -31% | -7% | 3% | 22.4× | n/a | n/a |
| Shandong Golden Empire Precision Machinery Technology 603270.SS | China | $886M | -4% | +35% | 5% | 30.0× | n/a | n/a |
| Gibraltar Industries ROCK | United States | $964M | -20% | +14% | 11% | 7.9× | 7.3% | +1.9% |
| Jiangsu LiXing General Steel Ball 300421.SZ | China | $866M | -30% | +4% | 4% | n/a | 35.0% | +7.1% |
| Juli Sling 002342.SZ | China | $989M | -66% | +19% | 3% | n/a | n/a | n/a |
| Chongqing Millison Technologies 301307.SZ | China | $851M | -18% | +13% | -11% | 54.7× | n/a | n/a |
| Zhejiang Huayuan Auto Technology 301535.SZ | China | $836M | -30% | +66% | 12% | n/a | 22.2% | +17.2% |
| Kennametal India KENNAMET.NS | India | $832M | +27% | +29% | 17% | 37.5× | n/a | n/a |
| China Harzone Industry 300527.SZ | China | $1.03B | -18% | -12% | 1% | n/a | n/a | n/a |
| Sanwei 603033.SS | China | $1.04B | -40% | +10% | -6% | n/a | 13.7% | +21.1% |
| Jiangsu NanFang Precision 002553.SZ | China | $813M | -29% | +5% | 13% | n/a | n/a | n/a |
| HuiZhou Intelligence Technology 002122.SZ | China | $802M | -10% | +10% | -16% | n/a | n/a | n/a |