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Chinese maker of lithium-ion battery production equipment such as coating, winding and stacking machines.
Chinese maker of lithium-ion battery production equipment such as coating, winding and stacking machines.
Sells production lines to battery makers through project orders, and revenue is often booked when equipment is accepted at the customer's plant, months after delivery, so its results lag battery makers' capacity decisions. A few large cell makers account for much of its sales.
Moat: narrow (process know-how, customer qualification). Battery-line equipment must be qualified with cell makers, creating switching friction.
Headquarters: Shenzhen, China · Employees: 12,033
Size Shenzhen Yinghe Technology (300457.SZ) is a China Industrials company (Industrial Machinery) with a market value of $1.84B, the 1366th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.10 on 6 Nov 2026.
Performance Over six months the shares fell 34.1%, against -10.4% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 19 in its peer set.
Growth Revenue grew 27.0% over the last twelve months (peer median +9.2%); the operating margin is 6.3% (peer median 12.8%).
Valuation It trades at 18.6× forward earnings against a peer median of 20.9× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.5 points below its cost of capital (11.4% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥11.2B | CN¥9.40B | CN¥8.49B | CN¥9.70B | CN¥8.99B |
| Revenue growth | — | +11% | -12% | +8% | — |
| Gross profit | CN¥2.62B | CN¥2.19B | CN¥2.47B | CN¥2.78B | CN¥1.74B |
| EBITDA | n/a | CN¥982M | CN¥1.32B | CN¥1.16B | CN¥635M |
| Net income | CN¥687M | CN¥538M | CN¥503M | CN¥554M | CN¥487M |
| Free cash flow | CN¥1.08B | CN¥619M | -CN¥152M | CN¥1.21B | CN¥143M |
| Capital expenditure | CN¥105M | CN¥176M | CN¥178M | CN¥192M | CN¥187M |
| Total debt | CN¥2.88B | CN¥2.43B | CN¥1.76B | CN¥1.23B | CN¥3.97B |
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 Yinghe Technology 300457.SZ | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% |
| Wuxi Lead Intelligent Equipment 300450.SZ | $7.88B | -41% | +28% | 10% | 22.9× | 10.4% |
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 | 300457.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.8% | -6.9% | 7th lowest of 21 |
| 6-month return | -34.1% | -10.4% | 4th lowest of 19 |
| Distance from 52-week high | -40.4% | -27.3% | 7th lowest of 21 |
| Revenue growth (TTM) | +27.0% | +9.2% | 4th highest of 21 |
| Operating margin | 6.3% | 12.8% | 8th lowest of 21 |
| Forward P/E | 18.6× | 20.9× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 11.4% | 17.0% | 5th least demanding of 14 |
| Growth delivered (Del g) | +31.7% | +10.5% | highest of 14 |
| Hurdle (Req g minus delivered) | -20.3 pp | +15.2 pp | least demanding of 14 |
| ROIC minus cost of capital | -3.5 pp | +2.8 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Yinghe Technology 300457.SZ | China | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% | +31.7% |
| Xiangtan Electric Manufacturing 600416.SS | China | $1.83B | -33% | -3% | -2% | 414.0× | n/a | n/a |
| Systemair SYSR.ST | Sweden | $1.83B | +16% | +3% | 9% | 18.6× | 13.4% | +8.0% |
| Jiangxi Guoke Defence 688543.SS | China | $1.83B | -7% | +2% | 16% | 42.7× | n/a | n/a |
| Zhejiang Dun'an Artificial Environment 002011.SZ | China | $1.81B | -4% | +8% | 8% | 11.4× | -0.4% | +12.2% |
| Wuxi Rich Intelligent Equipment 301599.SZ | China | $1.87B | -54% | +9% | 13% | n/a | 31.2% | +9.2% |
| ELGI Equipments ELGIEQUIP.NS | India | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% | +15.5% |
| OSG 6136.T | Japan | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% | +9.0% |
| INOX India INOXINDIA.NS | India | $1.79B | +20% | +23% | 18% | 47.3× | 37.9% | +21.8% |
| Gorman-Rupp GRC | United States | $1.79B | -12% | +6% | 16% | 21.5× | 11.8% | +14.4% |
| Beijing OriginWater Technology 300070.SZ | China | $1.78B | -16% | -10% | 5% | 54.1× | 17.0% | -4.1% |
| Shareate Tools 688257.SS | China | $1.78B | -42% | +69% | 25% | 11.4× | n/a | n/a |
| Ta Liang Technology 3167.TW | Taiwan | $1.89B | -9% | +103% | 23% | 19.6× | 31.8% | +15.9% |
| Excelland Robotics (Wuxi) 3231.HK | Hong Kong | $1.91B | n/a | +19% | -36% | n/a | n/a | n/a |
| Suzhou Secote Precision Electronic 603283.SS | China | $1.92B | -12% | +9% | 20% | 20.2× | n/a | n/a |
| Midera Food Processing MFP | United States | $1.92B | n/a | +11% | 14% | 16.4× | 0.9% | +10.5% |
| Kennametal KMT | United States | $1.76B | -36% | +32% | 31% | 8.9× | n/a | n/a |
| LMW LMW.NS | India | $1.93B | +14% | +19% | 4% | 55.9× | n/a | n/a |
| Xizi Clean Energy Equipment Manufacturing 002534.SZ | China | $1.74B | -19% | -2% | 3% | 44.5× | 25.7% | +3.1% |
| Ningbo PIA Automation 688306.SS | China | $1.74B | +3% | +7% | 4% | 190.6× | 35.2% | +8.7% |
| CIMC Enric 3899.HK | Hong Kong | $1.96B | -32% | +6% | 4% | 10.4× | -4.7% | +15.6% |