Loading…
Precision metal-casting and machining manufacturer supplying components for hydraulics, auto, agriculture and other industrial equipment.
Precision metal-casting and machining manufacturer supplying components for hydraulics, auto, agriculture and other industrial equipment.
In one line: A Chinese precision-casting supplier, akin to a smaller Precision Castparts.
Moat: narrow (process know-how, customer qualification, scale). Multi-process casting expertise and qualified-supplier status across diverse industrial customers.
Headquarters: Hong Kong / Dongguan, China · Founded: 1998 · Employees: 8,271
Size Impro Precision Industries (1286.HK) is a Hong Kong Materials company (Steel) with a market value of $1.30B, the 532nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.23 on 6 Nov 2026.
Performance Over six months the shares fell 52.0%, against -24.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 19.6% over the last twelve months (peer median +5.0%); the operating margin is 17.8% (peer median 2.0%).
Valuation It trades at 11.4× forward earnings against a peer median of 26.1× (2nd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (6.7% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$5.66B | HK$5.10B | HK$4.69B | HK$4.60B | HK$4.35B |
| Revenue growth | — | +9% | +2% | +6% | — |
| Gross profit | HK$1.75B | HK$1.56B | HK$1.44B | HK$1.32B | HK$1.40B |
| EBITDA | HK$1.57B | HK$1.38B | HK$1.23B | HK$1.17B | HK$1.16B |
| Net income | HK$801M | HK$726M | HK$644M | HK$585M | HK$582M |
| Free cash flow | HK$176M | HK$276M | HK$433M | HK$462M | HK$147M |
| Capital expenditure | HK$1.24B | HK$992M | HK$700M | HK$787M | HK$711M |
| Total debt | n/a | HK$2.43B | HK$2.20B | HK$2.26B | HK$2.21B |
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 |
|---|---|---|---|---|---|---|
| Impro Precision Industries 1286.HK | $1.30B | -52% | +20% | 18% | 11.4× | -1.6% |
| Linamar LNR.TO | $3.63B | -9% | +9% | 9% | 7.1× | -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 | 1286.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.7% | -5.5% | 2nd lowest of 21 |
| 6-month return | -52.0% | -24.9% | lowest of 20 |
| Distance from 52-week high | -55.7% | -41.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +19.6% | +5.0% | 4th highest of 20 |
| Operating margin | 17.8% | 2.0% | 2nd highest of 20 |
| Forward P/E | 11.4× | 26.1× | 2nd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 17.7% | 2nd least demanding of 10 |
| Growth delivered (Del g) | +11.7% | +10.2% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | -13.3 pp | -5.0 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +3.6 pp | -5.0 pp | highest of 21 |
| EV / EBITDA | 7.4× | 11.1× | cheapest of 4 |
| Net debt / EBITDA | 0.8× | 0.3× | 3rd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Impro Precision Industries 1286.HK | Hong Kong | $1.30B | -52% | +20% | 18% | 11.4× | -1.6% | +11.7% |
| YODOKO 5451.T | Japan | $1.31B | +1% | -2% | 6% | n/a | 0.3% | +6.0% |
| Yongjin Technology 603995.SS | China | $1.28B | +22% | +11% | 2% | 12.1× | n/a | n/a |
| Liuzhou Iron & Steel 601003.SS | China | $1.28B | -29% | 0% | 1% | 28.2× | -0.3% | +4.7% |
| HBIS Resources 000923.SZ | China | $1.33B | -19% | -5% | 0% | 52.4× | n/a | n/a |
| Gansu Jiu Steel Group Hongxing Iron & Steel 600307.SS | China | $1.25B | -25% | -6% | -5% | n/a | n/a | n/a |
| Bengang Steel Plates 000761.SZ | China | $1.25B | -26% | -2% | -10% | n/a | n/a | n/a |
| Gallantt Ispat GALLANTT.NS | India | $1.36B | -38% | +6% | 11% | n/a | 39.6% | +16.0% |
| NMDC Steel NSLNISP.NS | India | $1.23B | -10% | +42% | 3% | n/a | 20.8% | +41.6% |
| Fangda Special Steel Technology 600507.SS | China | $1.38B | -32% | +8% | 3% | 23.4× | n/a | n/a |
| Fushun Special Steel 600399.SS | China | $1.22B | -25% | +6% | -5% | 102.8× | n/a | n/a |
| Beijing Lier High-Temperature Materials 002392.SZ | China | $1.20B | -29% | +16% | 4% | 14.7× | 15.4% | +10.2% |
| Xinyu Iron & Steel 600782.SS | China | $1.20B | -17% | -13% | -4% | n/a | n/a | n/a |
| Guizhou Aviation Technical Development 688239.SS | China | $1.19B | -39% | +23% | 12% | 26.1× | 17.7% | +25.0% |
| Ryerson RYZ | United States | $1.43B | +1% | +53% | 1% | 10.6× | n/a | n/a |
| Dalian Huarui Heavy Industry 002204.SZ | China | $1.43B | -28% | +5% | 4% | n/a | -3.8% | +13.9% |
| Zhongnanhong Culture 002445.SZ | China | $1.17B | -7% | -1% | 1% | n/a | n/a | n/a |
| Tokyo Steel Manufacturing 5423.T | Japan | $1.17B | -1% | -1% | -1% | 53.7× | n/a | n/a |
| Godawari Power & Ispat GPIL.NS | India | $1.49B | -31% | +8% | 19% | 12.5× | 21.7% | +6.3% |
| Suzhou Hesheng Special Material 002290.SZ | China | $1.51B | -50% | +1% | 7% | 42.2× | 34.8% | +7.1% |
| Vedanta Iron And Steel VISL.NS | India | $1.11B | n/a | n/a | n/a | n/a | n/a | n/a |