Employees: 3,988
Size Henan Carve Electronics Technology (301182.SZ) is a China Industrials company (Electrical Products) with a market value of $657M, the 3221st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥45.72 on 6 Nov 2026.
Performance Over six months the shares fell 33.9%, against -31.1% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 32.1% over the last twelve months (peer median +17.3%); the operating margin is -17.3% (peer median 2.6%).
Valuation It trades at 5.1× enterprise value to sales against a peer median of 2.2× (6th most expensive of 21).
Capital Return on invested capital runs 20.7 points below its cost of capital (8.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥923M | CN¥762M | CN¥595M | CN¥545M | CN¥503M |
| Revenue growth | — | +28% | +9% | +8% | — |
| Gross profit | CN¥10.1M | CN¥9.11M | -CN¥12.4M | CN¥22.9M | CN¥70.8M |
| EBITDA | -CN¥59.7M | -CN¥6.64M | -CN¥29.8M | CN¥568,370 | CN¥53.5M |
| Net income | -CN¥153M | -CN¥116M | -CN¥93.5M | -CN¥56.8M | CN¥32.3M |
| Free cash flow | -CN¥93.4M | -CN¥62.2M | -CN¥157M | -CN¥150M | -CN¥112M |
| Capital expenditure | CN¥86.3M | CN¥27.9M | CN¥91.4M | CN¥137M | CN¥117M |
| Total debt | CN¥440M | CN¥364M | CN¥274M | CN¥154M | CN¥63.9M |
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| Measure | 301182.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.3% | -12.2% | 9th lowest of 21 |
| 6-month return | -33.9% | -31.1% | 9th lowest of 21 |
| Distance from 52-week high | -62.5% | -46.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +32.1% | +17.3% | 5th highest of 21 |
| Operating margin | -17.3% | 2.6% | 4th lowest of 21 |
| EV / Sales | 5.1× | 2.2× | 6th most expensive of 21 |
| ROIC minus cost of capital | -20.7 pp | -3.7 pp | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Henan Carve Electronics Technology 301182.SZ | China | $657M | -34% | +32% | -17% | 5.1× | n/a | n/a |
| Jiangsu SINOJIT Wind Energy Technology 601218.SS | China | $657M | -30% | +28% | 8% | 2.1× | 0.3% | -7.2% |
| Allis Electric 1514.TW | Taiwan | $665M | -32% | +24% | 10% | 2.0× | 8.9% | +15.6% |
| Hubei Wanrun New Energy Technology 688275.SS | China | $648M | -67% | +146% | 4% | 0.6× | n/a | n/a |
| Guangdong Greenway Technology 688345.SS | China | $668M | -17% | +39% | 3% | 1.5× | n/a | n/a |
| Suzhou Huazhijie Telecom 603400.SS | China | $675M | -36% | +14% | 8% | 3.1× | n/a | n/a |
| VITZROCELL 082920.KS | South Korea | $675M | -64% | +21% | 28% | 2.8× | -7.9% | +16.5% |
| Huarui Electrical Appliance 300626.SZ | China | $678M | -6% | +7% | 5% | 5.5× | 45.1% | +2.5% |
| Guangdong Rifeng Electric 002953.SZ | China | $679M | -22% | +11% | 3% | 1.1× | 19.7% | +22.7% |
| Zhejiang Sunflower Great Health 300111.SZ | China | $635M | -15% | -20% | -10% | 16.2× | n/a | n/a |
| Zhongfu Shenying Carbon Fiber 688295.SS | China | $680M | -45% | +22% | 2% | 2.7× | n/a | n/a |
| Zhejiang Founder Motor 002196.SZ | China | $634M | -35% | +26% | 0% | 1.8× | n/a | n/a |
| Henan Hengxing Science & Technology 002132.SZ | China | $681M | -29% | +3% | 1% | 1.4× | 10.0% | +12.7% |
| Eos Energy Enterprises EOSE | United States | $634M | -78% | +534% | -159% | 7.7× | n/a | n/a |
| Henan Senyuan Electric 002358.SZ | China | $684M | -32% | +2% | 8% | 2.4× | n/a | n/a |
| Jiangsu Huachen Transformer 603097.SS | China | $629M | -4% | +13% | 2% | 2.3× | 27.8% | +27.0% |
| Powerica POWERICA.NS | India | $628M | -5% | +14% | 8% | 2.0× | n/a | n/a |
| ITM Power ITM.L | United Kingdom | $689M | -53% | +68% | -74% | 7.0× | n/a | n/a |
| Jiangsu Tongguang Electronic Wire and Cable 300265.SZ | China | $690M | -43% | -4% | -1% | 1.9× | 36.9% | +11.8% |
| ADS-TEC Energy Public ADSE | United States | $692M | -18% | -42% | -224% | 25.0× | n/a | n/a |
| Tianjin Jingwei Huikai Optoelectronic 300120.SZ | China | $693M | +9% | +30% | -2% | 1.7× | 53.3% | -3.7% |