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China's largest maker of PCB production machines, covering drilling, exposure, lamination, forming and testing.
China's largest maker of PCB production machines, covering drilling, exposure, lamination, forming and testing.
Sells capital equipment to PCB factories, with drilling machines carrying the business and testing, exposure and forming machines as add-ons that cover most process steps. Orders follow board-makers' expansion plans, now driven by AI-server boards. It has also added a Hong Kong share listing.
Moat: narrow (scale, process know-how, customer qualification). Largest domestic PCB-equipment maker covering most process steps; drilling and test precision win board-factory qualification.
Headquarters: Shenzhen, China · Employees: 3,570
Size Shenzhen Han's CNC Technology (301200.SZ) is a China Industrials company (Industrial Machinery) with a market value of $9.08B, the 270th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥137.00 on 6 Nov 2026.
Performance Over six months the shares fell 25.0%, against -13.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 98.1% over the last twelve months (peer median +9.1%); the operating margin is 21.3% (peer median 13.2%).
Valuation It trades at 32.1× forward earnings against a peer median of 20.7× (6th most expensive of 21).
Capital Return on invested capital runs 2.5 points above its cost of capital (13.4% WACC).
Next results Next results expected around 14 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.71B | CN¥5.75B | CN¥3.34B | CN¥1.63B | CN¥2.77B |
| Revenue growth | — | +72% | +105% | -41% | — |
| Gross profit | CN¥3.69B | CN¥1.95B | CN¥894M | CN¥482M | CN¥984M |
| EBITDA | n/a | CN¥1.06B | CN¥349M | CN¥108M | CN¥461M |
| Net income | CN¥1.88B | CN¥824M | CN¥301M | CN¥136M | CN¥435M |
| Free cash flow | -CN¥162M | CN¥25.8M | -CN¥69.1M | CN¥174M | CN¥512M |
| Capital expenditure | CN¥227M | CN¥157M | CN¥224M | CN¥242M | CN¥144M |
| Total debt | CN¥2.63B | CN¥2.06B | CN¥973M | CN¥286M | CN¥519M |
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 Han's CNC Technology 301200.SZ | $9.08B | -25% | +98% | 21% | 32.1× | n/a |
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
| KLA KLAC | $180B | -26% | +16% | 43% | 22.3× | 23.5% |
| Tongtai Machine & Tool 4526.TW | $380M | +22% | -12% | -13% | n/a | n/a |
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 | 301200.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -37.2% | -7.2% | 4th lowest of 21 |
| 6-month return | -25.0% | -13.7% | 7th lowest of 21 |
| Distance from 52-week high | -65.3% | -43.2% | 5th lowest of 21 |
| Revenue growth (TTM) | +98.1% | +9.1% | 2nd highest of 21 |
| Operating margin | 21.3% | 13.2% | 5th highest of 21 |
| Forward P/E | 32.1× | 20.7× | 6th most expensive of 21 |
| ROIC minus cost of capital | +2.5 pp | +0.9 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Han's CNC Technology 301200.SZ | China | $9.08B | -25% | +98% | 21% | 32.1× | n/a | n/a |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |
| Huagong Tech 000988.SZ | China | $9.54B | -47% | +16% | 7% | 30.9× | n/a | n/a |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
| Wuxi Lead Intelligent Equipment 0470.HK | Hong Kong | $7.95B | -61% | +35% | 10% | 13.3× | 8.2% | +19.0% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| Zoomlion Heavy Industry Science & Technology 1157.HK | Hong Kong | $7.63B | -36% | +23% | 7% | 8.1× | 12.6% | -5.0% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |