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Chinese maker of precision molds and plastic-injection components for industrial and consumer products.
Chinese maker of precision molds and plastic-injection components for industrial and consumer products.
Earns from two linked lines: one-off tooling projects, where it designs and builds the mold for a customer's product, and recurring injection-moulded parts made on those molds. A mold win can lead to production orders, so tooling work can run ahead of parts volume.
Moat: narrow (process know-how). Precision mold-making requires specialized tooling expertise.
Headquarters: Xiamen, China · Employees: 3,755
Size Xiamen Voke Mold & Plastic Engineering (301196.SZ) is a China Industrials company (Miscellaneous Manufacturing) with a market value of $1.48B, the 1658th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥60.00 on 6 Nov 2026.
Performance Over six months the shares fell 34.2%, against -16.7% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 34.2% over the last twelve months (peer median +5.9%); the operating margin is 11.6% (peer median 10.7%).
Valuation It trades at 32.6× forward earnings against a peer median of 16.4× (4th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.3 points above its cost of capital (11.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.89B | CN¥2.20B | CN¥1.81B | CN¥1.33B | CN¥956M |
| Revenue growth | — | +21% | +36% | +40% | — |
| Gross profit | CN¥918M | CN¥596M | CN¥478M | CN¥386M | CN¥298M |
| EBITDA | n/a | CN¥404M | CN¥281M | CN¥218M | CN¥177M |
| Net income | CN¥280M | CN¥257M | CN¥220M | CN¥168M | CN¥163M |
| Free cash flow | CN¥172M | CN¥26.9M | CN¥135M | -CN¥69.0M | -CN¥7.82M |
| Capital expenditure | CN¥257M | CN¥284M | CN¥217M | CN¥263M | CN¥261M |
| Total debt | CN¥505M | CN¥145M | CN¥131M | CN¥74.3M | CN¥58.7M |
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| Measure | 301196.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.4% | -6.8% | 4th lowest of 21 |
| 6-month return | -34.2% | -16.7% | 5th lowest of 21 |
| Distance from 52-week high | -63.5% | -36.4% | 3rd lowest of 21 |
| Revenue growth (TTM) | +34.2% | +5.9% | 2nd highest of 21 |
| Operating margin | 11.6% | 10.7% | 10th highest of 21 |
| Forward P/E | 32.6× | 16.4× | 4th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 19.6% | 9.1% | 2nd most demanding of 17 |
| Growth delivered (Del g) | +19.4% | +4.0% | 2nd highest of 17 |
| Hurdle (Req g minus delivered) | +0.1 pp | +1.6 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | +0.3 pp | -0.0 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xiamen Voke Mold & Plastic Engineering 301196.SZ | China | $1.48B | -34% | +34% | 12% | 32.6× | 19.6% | +19.4% |
| Vesuvius VSVS.L | United Kingdom | $1.49B | +2% | +2% | 7% | 14.7× | 8.2% | +4.4% |
| Jinfu Technology 003018.SZ | China | $1.51B | -30% | +85% | 26% | 39.3× | 18.0% | +8.2% |
| Shanghai PRET Composites 002324.SZ | China | $1.36B | -44% | +27% | 1% | 45.7× | n/a | n/a |
| FP Corporation 7947.T | Japan | $1.61B | +35% | +4% | 9% | 15.5× | -1.0% | +5.1% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 13.6× | -5.4% | +2.5% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 11.5× | 18.0% | +14.5% |
| China Lesso 2128.HK | Hong Kong | $1.20B | -42% | -5% | 13% | 5.7× | -4.5% | -3.5% |
| Suzhou Victory Precision Manufacture 002426.SZ | China | $1.17B | -41% | +7% | -20% | n/a | 30.8% | -18.0% |
| Cangzhou Mingzhu Plastic 002108.SZ | China | $1.10B | -28% | +14% | 5% | n/a | n/a | n/a |
| INDUS INH.DE | Germany | $1.03B | +11% | +8% | 13% | 7.0× | -6.8% | +2.2% |
| Zhejiang Weixing Industrial Development 002003.SZ | China | $2.17B | +28% | +14% | 16% | 20.7× | -4.2% | +14.0% |
| Leyard Optoelectronic 300296.SZ | China | $2.20B | -14% | -14% | 4% | 28.8× | 17.1% | +1.2% |
| Shanghai Hajime Advanced Material Technology 301000.SZ | China | $986M | -1% | +4% | 16% | 40.9× | n/a | n/a |
| Shanghai Yanpu Precision Technology (Group) 605128.SS | China | $978M | -9% | +3% | 9% | 27.1× | 15.4% | +25.0% |
| Zhejiang Weixing New Building Materials 002372.SZ | China | $2.27B | -19% | -12% | 14% | 17.8× | 9.9% | +1.1% |
| Finolex Industries FINPIPE.NS | India | $932M | -20% | +3% | 14% | 16.4× | 13.0% | +3.5% |
| Jiangsu Changhai Composite Materials 300196.SZ | China | $897M | -25% | +3% | 11% | 17.9× | 3.8% | +9.0% |
| Genuit GEN.L | United Kingdom | $897M | +8% | +4% | 12% | 12.1× | 12.4% | +8.6% |
| Shenzhen Jame Technology 300868.SZ | China | $878M | -36% | +8% | -7% | n/a | n/a | n/a |
| Blue Sail Medical 002382.SZ | China | $861M | -24% | +23% | 7% | 11.8× | -6.5% | -6.1% |