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Zhejiang maker of electric forklifts and warehouse material-handling equipment, sold domestically and exported.
Zhejiang maker of electric forklifts and warehouse material-handling equipment, sold domestically and exported.
Sells compact electric forklifts, pallet trucks and stackers, largely through dealers and distributors in export markets, so exchange rates and overseas warehouse investment matter alongside China's home demand.
In one line: A Chinese Crown Equipment/Hyster-Yale.
Moat: narrow (distribution, cost advantage). Export-focused, lower-cost electric forklift maker competing on price against global incumbents.
Headquarters: Hangzhou, Zhejiang, China · Founded: 2006 · Employees: 4,591
Size Zhejiang E-P Equipment (603194.SS) is a China Industrials company (Electrical Products) with a market value of $2.04B, the 1237th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.96 on 6 Nov 2026.
Performance Over six months the shares fell 2.6%, against -21.1% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 19 in its peer set.
Growth Revenue grew 17.1% over the last twelve months (peer median +4.1%); the operating margin is 12.8% (peer median 9.4%).
Valuation It trades at 14.8× forward earnings against a peer median of 21.5× (7th cheapest of 16).
Capital Return on invested capital runs 5.6 points above its cost of capital (6.4% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.16B | CN¥7.23B | CN¥6.53B | CN¥5.90B | CN¥5.01B |
| Revenue growth | — | +11% | +11% | +18% | — |
| Gross profit | CN¥2.53B | CN¥2.07B | CN¥1.83B | CN¥1.62B | CN¥1.33B |
| EBITDA | n/a | CN¥1.30B | CN¥1.22B | CN¥1.09B | CN¥834M |
| Net income | CN¥811M | CN¥859M | CN¥840M | CN¥806M | CN¥627M |
| Free cash flow | -CN¥485M | -CN¥67.4M | -CN¥258M | CN¥201M | CN¥209M |
| Capital expenditure | CN¥1.26B | CN¥726M | CN¥706M | CN¥455M | CN¥424M |
| Total debt | CN¥2.92B | CN¥1.79B | CN¥1.54B | CN¥1.47B | CN¥699M |
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 |
|---|---|---|---|---|---|---|
| Zhejiang E-P Equipment 603194.SS | $2.04B | -3% | +17% | 13% | 14.8× | n/a |
| Hyster-Yale HY | $509M | -24% | -11% | -1% | n/a | 32.0% |
| Anhui Heli 600761.SS | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% |
| Hangcha 603298.SS | $4.71B | -12% | +7% | 12% | 13.3× | 2.9% |
| Kion KGX.DE | $5.05B | -25% | +3% | 6% | 10.4× | n/a |
| Jungheinrich AG Pref JUN3.DE | $2.58B | -12% | +2% | 5% | 10.3× | -0.4% |
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 | 603194.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.7% | -11.1% | 4th highest of 21 |
| 6-month return | -2.6% | -21.1% | 2nd highest of 19 |
| Distance from 52-week high | -20.8% | -43.4% | 2nd highest of 21 |
| Revenue growth (TTM) | +17.1% | +4.1% | 6th highest of 21 |
| Operating margin | 12.8% | 9.4% | 8th highest of 21 |
| Forward P/E | 14.8× | 21.5× | 7th cheapest of 16 |
| ROIC minus cost of capital | +5.6 pp | +2.1 pp | 9th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang E-P Equipment 603194.SS | China | $2.04B | -3% | +17% | 13% | 14.8× | n/a | n/a |
| Titan Wind Energy (Suzhou) 002531.SZ | China | $2.05B | -37% | -1% | 5% | 29.4× | n/a | n/a |
| AQ Group AB AQ.ST | Sweden | $2.04B | -5% | +11% | 9% | 24.7× | 12.4% | +13.5% |
| Dajin Heavy Industry 1081.HK | Hong Kong | $2.03B | n/a | +2% | 19% | 10.6× | n/a | n/a |
| Ligent Technologies 9856.HK | Hong Kong | $2.07B | n/a | +33% | 12% | n/a | n/a | n/a |
| Chung-Hsin Electric & Machinery Manufacturing 1513.TW | Taiwan | $2.07B | -10% | +4% | 19% | 14.7× | -2.2% | +12.3% |
| Signify LIGHT.AS | Netherlands | $2.09B | -26% | -8% | 7% | 8.5× | -12.5% | -2.4% |
| Minmetals New Energy Materials (Hunan) 688779.SS | China | $2.00B | -36% | +146% | 5% | 23.8× | n/a | n/a |
| Xian Sinofuse Electric 301031.SZ | China | $1.99B | -16% | +56% | 21% | 22.1× | n/a | n/a |
| SMA Solar Technology S92.DE | Germany | $1.99B | -21% | +4% | -7% | 16.7× | -4.2% | +8.1% |
| Voltronic Power Technology 6409.TW | Taiwan | $2.10B | +1% | -13% | 20% | 21.5× | 6.2% | +8.5% |
| Chengdu Jiachi Electronic Technology 688708.SS | China | $2.11B | -33% | -7% | 26% | n/a | n/a | n/a |
| Jinlongyu 002882.SZ | China | $1.97B | -21% | -1% | 3% | n/a | n/a | n/a |
| TD Power Systems TDPOWERSYS.NS | India | $1.96B | -7% | +54% | 17% | 47.1× | 40.6% | +25.6% |
| Meidensha 6508.T | Japan | $1.96B | -20% | +12% | 10% | 11.0× | 5.1% | +7.1% |
| Jiangxi Special Electric Motor 002176.SZ | China | $1.96B | -52% | -13% | -13% | n/a | 48.7% | +1.2% |
| NuScale Power SMR | United States | $2.18B | -60% | -81% | -6,854% | n/a | n/a | n/a |
| Rept Battero Energy 0666.HK | Hong Kong | $2.19B | -57% | +56% | 6% | 10.0× | n/a | n/a |
| Simplo Technology 6121.TWO | Taiwan | $1.90B | -6% | +3% | 11% | 9.6× | -20.1% | -0.8% |
| Jiangsu Cnano Technology 688116.SS | China | $1.90B | -19% | +8% | 19% | 32.6× | n/a | n/a |
| Jiangsu Leili Motor 300660.SZ | China | $1.90B | -33% | +16% | 5% | 70.5× | 29.1% | +11.6% |