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Chinese maker of new-energy/battery production equipment; specific product line not established from available knowledge.
Chinese maker of new-energy/battery production equipment; specific product line not established from available knowledge.
Moat: none
Headquarters: Changchun, China · Employees: 694
Size Changchun Zhiyuan New Energy Equipment (300985.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $786M, the 2810th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥28.11 on 6 Nov 2026.
Performance Over six months the shares gained 21.9%, against -19.1% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 55.3% over the last twelve months (peer median +5.3%); the operating margin is -4.7% (peer median 4.4%).
Valuation It trades at 3.5× enterprise value to sales against a peer median of 4.4× (9th cheapest of 21).
Capital Return on invested capital runs 13.7 points below its cost of capital (10.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.80B | CN¥1.70B | CN¥1.14B | CN¥1.77B | CN¥163M |
| Revenue growth | — | +48% | -35% | +983% | — |
| Gross profit | CN¥54.9M | CN¥133M | CN¥157M | CN¥224M | -CN¥1.83M |
| EBITDA | CN¥5.15M | CN¥63.2M | CN¥104M | CN¥171M | -CN¥55.6M |
| Net income | -CN¥98.6M | -CN¥42.8M | -CN¥192M | CN¥56.2M | -CN¥51.6M |
| Free cash flow | CN¥11.3M | -CN¥304M | -CN¥292M | -CN¥93.9M | -CN¥410M |
| Capital expenditure | CN¥75.5M | CN¥50.5M | CN¥43.0M | CN¥167M | CN¥431M |
| Total debt | CN¥1.10B | CN¥1.19B | CN¥757M | CN¥466M | CN¥174M |
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| Measure | 300985.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.9% | -7.7% | 8th lowest of 21 |
| 6-month return | +21.9% | -19.1% | 3rd highest of 20 |
| Distance from 52-week high | -51.5% | -46.7% | 8th lowest of 21 |
| Revenue growth (TTM) | +55.3% | +5.3% | highest of 20 |
| Operating margin | -4.7% | 4.4% | 7th lowest of 21 |
| EV / Sales | 3.5× | 4.4× | 9th cheapest of 21 |
| ROIC minus cost of capital | -13.7 pp | -1.8 pp | 7th lowest of 21 |
| Net debt / EBITDA | 188.5× | -1.6× | most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Changchun Zhiyuan New Energy Equipment 300985.SZ | China | $786M | +22% | +55% | -5% | 3.5× | n/a | n/a |
| Catapult Sports CAT.AX | Australia | $788M | +15% | +19% | -17% | 5.0× | 27.1% | +18.0% |
| Cosmo AM&T 005070.KS | South Korea | $789M | -45% | +8% | 2% | 2.0× | 29.5% | +17.4% |
| Keytop Parking 2272.HK | Hong Kong | $761M | n/a | +4% | 11% | 6.3× | n/a | n/a |
| Anhui Landun Photoelectron 300862.SZ | China | $814M | +31% | -27% | -23% | 12.8× | n/a | n/a |
| RNBC New Energy 301667.SZ | China | $755M | -59% | +24% | 6% | 3.0× | n/a | n/a |
| Wuhan Zhongyuan Huadian Science & Technology 300018.SZ | China | $825M | -17% | +3% | 17% | 7.9× | 25.8% | +10.0% |
| Evolv Technologies EVLV | United States | $826M | -35% | +42% | -20% | 4.7× | n/a | n/a |
| Shenzhen Anche Technologies 300572.SZ | China | $747M | -29% | +13% | -33% | 8.0× | n/a | n/a |
| Dianguang Explosion-proof Technology 002730.SZ | China | $832M | -54% | -6% | 6% | 5.6× | n/a | n/a |
| Beauty Tech TBTG.L | United Kingdom | $742M | +71% | n/a | 21% | 3.6× | 4.5% | n/a |
| Shanghai Ruking Technologies 301525.SZ | China | $838M | -13% | -2% | 1% | 3.1× | n/a | n/a |
| Zhejiang Shuangyuan Technology 688623.SS | China | $733M | -10% | +10% | 7% | 8.2× | 39.1% | +15.5% |
| Nanjing Xinlian Electronics 002546.SZ | China | $732M | -29% | -2% | 21% | 2.0× | -8.4% | +3.7% |
| Xi'an Manareco New Materials 688550.SS | China | $850M | -19% | -2% | 13% | 2.8× | 7.4% | +9.8% |
| Fujian Nebula Electronics 300648.SZ | China | $720M | -44% | -1% | -18% | 4.5× | n/a | n/a |
| Fujian Acetron New Materials 300706.SZ | China | $873M | -11% | +19% | 3% | 4.2× | n/a | n/a |
| Hioki E.E.Corporation 6866.T | Japan | $703M | -27% | +17% | 20% | 2.0× | 8.9% | +13.3% |
| Acrel 300286.SZ | China | $691M | -23% | +9% | 13% | 2.7× | 15.7% | +8.8% |
| Shenzhen Jieshun Science & Technology Industry 002609.SZ | China | $683M | -14% | +5% | 3% | 2.4× | 1.9% | +5.0% |
| Feitian Technologies 300386.SZ | China | $909M | -17% | -20% | -20% | 10.0× | n/a | n/a |