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Chinese maker of miniature precision gearboxes and micro-motors used in cameras, drones, smart locks and medical devices.
Chinese maker of miniature precision gearboxes and micro-motors used in cameras, drones, smart locks and medical devices.
Moat: narrow (process know-how, customer qualification). Miniaturized precision-gear manufacturing know-how is hard to replicate at small scale.
Headquarters: Shenzhen, China · Founded: 1993 · Employees: 2,381
Size Shenzhen Zhaowei Machinery & Electronics (003021.SZ) is a China Industrials company (Industrial Machinery) with a market value of $3.45B, the 752nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥101.95 on 6 Nov 2026.
Performance Over six months the shares gained 5.5%, against -14.6% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue was unchanged over the last twelve months (peer median +12.0%); the operating margin is 9.5% (peer median 9.1%).
Valuation It trades at 124.4× forward earnings against a peer median of 23.7× (most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 46% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +38 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.0 points below its cost of capital (10.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.72B | CN¥1.71B | CN¥1.52B | CN¥1.20B | CN¥1.15B |
| Revenue growth | — | +12% | +26% | +5% | — |
| Gross profit | CN¥622M | CN¥529M | CN¥446M | CN¥322M | CN¥320M |
| EBITDA | n/a | CN¥313M | CN¥244M | CN¥169M | CN¥163M |
| Net income | CN¥196M | CN¥254M | CN¥225M | CN¥180M | CN¥150M |
| Free cash flow | CN¥134M | CN¥37.7M | CN¥21.5M | CN¥36.1M | -CN¥6.37M |
| Capital expenditure | CN¥209M | CN¥171M | CN¥169M | CN¥206M | CN¥261M |
| Total debt | CN¥287M | CN¥352M | CN¥358M | CN¥253M | CN¥212M |
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 Zhaowei Machinery & Electronics 003021.SZ | $3.45B | +6% | 0% | 9% | 124.4× | 46.0% |
| Johnson Electric 0179.HK | $1.56B | -53% | 0% | 8% | 10.8× | -16.4% |
| Mabuchi Motor 6592.T | $2.84B | +18% | +12% | 12% | 17.9× | 5.8% |
| Jiangsu Leili Motor 300660.SZ | $1.90B | -33% | +16% | 5% | 70.5× | 29.1% |
| Shanghai Moons Electrical 603728.SS | $3.66B | -1% | +22% | 4% | 183.9× | n/a |
| Nidec 6594.T | $11.7B | -33% | +4% | -22% | 11.5× | 8.4% |
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 | 003021.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +54.9% | -6.3% | highest of 21 |
| 6-month return | +5.5% | -14.6% | 2nd highest of 21 |
| Distance from 52-week high | -25.7% | -40.9% | 6th highest of 21 |
| Revenue growth (TTM) | 0.0% | +12.0% | 3rd lowest of 21 |
| Operating margin | 9.5% | 9.1% | 11th highest of 21 |
| Forward P/E | 124.4× | 23.7× | most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 46.0% | 16.0% | 3rd most demanding of 12 |
| Growth delivered (Del g) | +7.5% | +11.4% | 4th lowest of 12 |
| Hurdle (Req g minus delivered) | +38.5 pp | +4.8 pp | most demanding of 12 |
| ROIC minus cost of capital | -3.0 pp | +0.2 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Zhaowei Machinery & Electronics 003021.SZ | China | $3.45B | +6% | 0% | 9% | 124.4× | 46.0% | +7.5% |
| Kadant KAI | United States | $3.46B | -14% | +17% | 16% | 21.7× | 15.5% | +10.6% |
| Thermax THERMAX.NS | India | $3.46B | -34% | +5% | 6% | 43.6× | n/a | n/a |
| Blue Star BLUESTARCO.NS | India | $3.43B | -10% | +9% | 5% | 56.0× | n/a | n/a |
| Guangdong Shenling Environmental Systems 301018.SZ | China | $3.42B | -27% | +45% | 5% | 64.8× | n/a | n/a |
| Jiangsu Lettall Electronic 603629.SS | China | $3.41B | -40% | +27% | 34% | n/a | 4.8% | +15.0% |
| Anhui Yingliu Electromechanical 603308.SS | China | $3.50B | -58% | +38% | 13% | 42.0× | n/a | n/a |
| THK 6481.T | Japan | $3.52B | -16% | +8% | 7% | 10.6× | 24.8% | +1.9% |
| Moon Environment Technology 000811.SZ | China | $3.34B | -10% | +27% | 10% | 25.8× | 20.9% | +11.8% |
| Kaori Heat Treatment 8996.TW | Taiwan | $3.34B | -1% | +108% | 16% | 42.6× | 46.0% | +25.9% |
| SINOMACH Heavy Equipment 601399.SS | China | $3.33B | -28% | 0% | 4% | n/a | n/a | n/a |
| Danieli & C. Officine Meccaniche DAN.MI | Italy | $3.60B | -24% | -8% | -6% | 13.5× | n/a | n/a |
| Kunshan Kinglai Hygienic Materials 300260.SZ | China | $3.61B | -12% | +11% | 8% | 73.2× | n/a | n/a |
| Haitian International 1882.HK | Hong Kong | $3.64B | -18% | +8% | 17% | 7.4× | -11.5% | +7.7% |
| Sumitomo Heavy Industries 6302.T | Japan | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% | +4.3% |
| Estun Automation 002747.SZ | China | $3.65B | +30% | +8% | 4% | 104.6× | 48.2% | +14.3% |
| Carel Industries CRL.MI | Italy | $3.24B | -11% | +17% | 15% | 30.5× | 23.3% | +13.7% |
| Zijin Longking 600388.SS | China | $3.70B | -6% | +13% | 11% | 17.4× | n/a | n/a |
| Mueller Water Products MWA | United States | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% | +5.8% |
| Tokyo Seimitsu 7729.T | Japan | $3.16B | -29% | +17% | 22% | 15.2× | 16.0% | +11.4% |
| Ningbo Zhenyu Technology 300953.SZ | China | $3.77B | -35% | +58% | 6% | 21.2× | n/a | n/a |