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Chinese auto-parts maker producing exterior trim, body structural parts and battery enclosures for global automakers.
Chinese auto-parts maker producing exterior trim, body structural parts and battery enclosures for global automakers.
Wins supply awards model by model from carmakers and then earns on each part shipped, so revenue follows customers' vehicle output. Aluminium castings and battery enclosures raise the value of parts per electric vehicle, which is how it is moving beyond the exterior trim that made its name.
In one line: China's answer to a Magna International supplier of auto trim/body parts.
Moat: narrow (process know-how, customer qualification, scale). Long-qualified Tier-1 supplier relationships with global automakers and process expertise in metal trim/aluminum forming.
Headquarters: Ningbo, China · Founded: 1992 · Employees: 27,367
Size Minth (0425.HK) is a Hong Kong Consumer Discretionary company (Motor Vehicles) with a market value of $3.45B, the 315th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$23.10 on 6 Nov 2026.
Performance Over six months the shares fell 37.4%, against -12.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 14.2% over the last twelve months (peer median +4.3%); the operating margin is 11.1% (peer median 2.6%).
Valuation It trades at 7.5× forward earnings against a peer median of 12.7× (3rd cheapest of 16).
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 +15%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points below its cost of capital (9.8% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$30.0B | HK$27.9B | HK$25.1B | HK$22.7B | HK$20.1B |
| Revenue growth | — | +11% | +11% | +13% | — |
| Gross profit | HK$8.47B | HK$7.77B | HK$7.22B | HK$6.17B | HK$5.53B |
| EBITDA | HK$5.30B | HK$4.91B | HK$4.45B | HK$3.71B | HK$2.95B |
| Net income | HK$3.18B | HK$2.92B | HK$2.51B | HK$2.10B | HK$1.74B |
| Free cash flow | HK$1.76B | HK$3.16B | HK$1.47B | HK$696M | -HK$1.71B |
| Capital expenditure | HK$3.23B | HK$2.22B | HK$2.03B | HK$3.47B | HK$3.85B |
| Total debt | n/a | HK$10.1B | HK$9.05B | HK$11.9B | HK$9.75B |
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 |
|---|---|---|---|---|---|---|
| Minth 0425.HK | $3.45B | -37% | +14% | 11% | 7.5× | 2.7% |
| Mistras MG | $642M | +14% | +5% | 7% | 16.4× | 7.6% |
| Martinrea International MRE.TO | $475M | -10% | -3% | 5% | 4.2× | -6.2% |
| Fuyao Glass Industry 600660.SS | $21.0B | -5% | +5% | 22% | 16.2× | -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 | 0425.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.2% | -2.3% | 9th highest of 21 |
| 6-month return | -37.4% | -12.3% | 3rd lowest of 21 |
| Distance from 52-week high | -50.6% | -28.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +14.2% | +4.3% | 6th highest of 21 |
| Operating margin | 11.1% | 2.6% | 3rd highest of 21 |
| Forward P/E | 7.5× | 12.7× | 3rd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 2.7% | -1.2% | 5th most demanding of 12 |
| Growth delivered (Del g) | +14.8% | +5.9% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | -12.1 pp | -5.1 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | -1.5 pp | -2.3 pp | 9th highest of 20 |
| EV / EBITDA | 6.1× | 7.3× | 4th cheapest of 9 |
| Net debt / EBITDA | 0.7× | 0.5× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Minth 0425.HK | Hong Kong | $3.45B | -37% | +14% | 11% | 7.5× | 2.7% | +14.8% |
| Sinotruk Jinan Truck 000951.SZ | China | $3.46B | -10% | +36% | 4% | 11.2× | -5.8% | -0.8% |
| Harley-Davidson HOG | United States | $3.40B | +28% | -15% | -4% | 18.6× | 0.4% | +2.0% |
| Yadea 1585.HK | Hong Kong | $3.36B | -28% | +13% | 7% | 8.9× | -11.2% | +13.0% |
| Volvo Car VOLCAR-B.ST | Sweden | $3.63B | -45% | -17% | 0% | n/a | n/a | n/a |
| Mitsubishi Motor 7211.T | Japan | $3.21B | +13% | +5% | 3% | 17.9× | n/a | n/a |
| BAIC BluePark New Energy Technology 600733.SS | China | $4.02B | -41% | +54% | -19% | n/a | n/a | n/a |
| Trigano TRI.PA | France | $2.93B | -16% | +2% | 9% | 9.4× | -6.0% | +10.9% |
| FAW Jiefang 000800.SZ | China | $4.11B | -17% | +22% | -1% | 29.5× | n/a | n/a |
| Beiqi Foton Motor 600166.SS | China | $2.88B | -31% | +13% | 1% | 10.1× | -1.2% | +1.3% |
| Aima Technology 603529.SS | China | $2.67B | -11% | -11% | 5% | 12.7× | n/a | n/a |
| Force Motors FORCEMOT.NS | India | $2.64B | -8% | +16% | 12% | n/a | 25.2% | +35.4% |
| Mazda Motor 7261.T | Japan | $4.52B | +12% | +4% | 3% | 6.9× | -14.8% | +11.3% |
| Chongqing Afari Technology 601777.SS | China | $4.94B | -35% | +17% | -11% | 208.0× | n/a | n/a |
| Loncin Motor 603766.SS | China | $4.97B | +5% | +2% | 9% | 15.9× | -5.5% | +12.7% |
| Thule THULE.ST | Sweden | $2.39B | -6% | +2% | 17% | 18.3× | 9.3% | +5.9% |
| ARCHION 543A.T | Japan | $5.11B | -9% | +9% | 5% | 2.4× | 7.4% | +0.9% |
| China Railway Materials 000927.SZ | China | $2.20B | -14% | +1% | 2% | n/a | 6.3% | -5.0% |
| Iveco IVG.MI | Italy | $5.55B | +3% | -5% | 3% | 12.7× | n/a | n/a |
| Nissan Motor 7201.T | Japan | $5.98B | -24% | -1% | 2% | 23.1× | n/a | n/a |
| Guangzhou Automobile 601238.SS | China | $6.22B | -32% | +5% | -18% | n/a | n/a | n/a |