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Maker of production-line equipment for lithium-ion battery manufacturing, serving global battery and EV makers.
Maker of production-line equipment for lithium-ion battery manufacturing, serving global battery and EV makers.
This is the Hong Kong share class of the same battery-equipment maker as the Shenzhen listing. It sells entire production lines, not single machines, and books much of the revenue only after the customer accepts the line, so orders and reported sales are out of step. CATL has been a major customer.
In one line: A battery-gigafactory equipment maker akin to Applied Materials' battery-tools niche.
Moat: narrow (process know-how, customer qualification, installed base). Deep process integration with leading battery makers' gigafactory lines is costly to switch.
Headquarters: Wuxi, China · Founded: 1999 · Employees: 15,173
Size Wuxi Lead Intelligent Equipment (0470.HK) is a Hong Kong Industrials company (Industrial Machinery) with a market value of $7.95B, the 195th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$22.12 on 6 Nov 2026.
Performance Over six months the shares fell 61.4%, against -14.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 34.6% over the last twelve months (peer median +9.8%); the operating margin is 10.4% (peer median 13.7%).
Valuation It trades at 13.3× forward earnings against a peer median of 22.2× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.4 points above its cost of capital (10.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$19.2B | HK$15.6B | HK$12.8B | HK$18.2B | HK$16.1B |
| Revenue growth | — | +22% | -30% | +13% | — |
| Gross profit | HK$6.48B | HK$5.02B | HK$4.29B | HK$6.28B | HK$5.93B |
| EBITDA | n/a | HK$2.43B | HK$685M | HK$2.51B | HK$3.17B |
| Net income | HK$2.24B | HK$1.70B | HK$310M | HK$1.96B | HK$2.70B |
| Free cash flow | HK$7.56B | HK$4.77B | -HK$2.65B | -HK$1.56B | HK$831M |
| Capital expenditure | HK$536M | HK$602M | HK$946M | HK$609M | HK$1.15B |
| Total debt | HK$9.21B | HK$8.40B | HK$8.69B | HK$6.19B | HK$7.06B |
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 |
|---|---|---|---|---|---|---|
| Wuxi Lead Intelligent Equipment 0470.HK | $7.95B | -61% | +35% | 10% | 13.3× | 8.2% |
| Shenzhen Yinghe Technology 300457.SZ | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% |
| Hirata 6258.T | $564M | -14% | +9% | 11% | 11.0× | 4.1% |
| Wuxi Autowell Technology 688516.SS | $2.22B | -42% | -14% | 8% | 23.4× | n/a |
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 | 0470.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.8% | -9.2% | 10th lowest of 21 |
| 6-month return | -61.4% | -14.6% | 2nd lowest of 21 |
| Distance from 52-week high | -64.2% | -52.0% | 5th lowest of 21 |
| Revenue growth (TTM) | +34.6% | +9.8% | 7th highest of 21 |
| Operating margin | 10.4% | 13.7% | 6th lowest of 21 |
| Forward P/E | 13.3× | 22.2× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.2% | 14.8% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +19.0% | +7.4% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | -10.8 pp | +13.1 pp | least demanding of 14 |
| ROIC minus cost of capital | +7.4 pp | -0.9 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wuxi Lead Intelligent Equipment 0470.HK | Hong Kong | $7.95B | -61% | +35% | 10% | 13.3× | 8.2% | +19.0% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| Zoomlion Heavy Industry Science & Technology 1157.HK | Hong Kong | $7.63B | -36% | +23% | 7% | 8.1× | 12.6% | -5.0% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Sulzer SUN.SW | Switzerland | $7.39B | +23% | -3% | 13% | 17.9× | -1.4% | +3.7% |
| Robotechnik Intelligent Technology 300757.SZ | China | $7.37B | -42% | +203% | 9% | 219.2× | n/a | n/a |
| Shenzhen Han's CNC Technology 3200.HK | Hong Kong | $8.58B | -66% | +109% | 21% | 9.9× | n/a | n/a |
| Spirax SPX.L | United Kingdom | $7.24B | +2% | +5% | 18% | 22.7× | 20.5% | +7.4% |
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |