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Henan-based automatic equipment/machinery maker; specific product line not established from available knowledge.
Henan-based automatic equipment/machinery maker; specific product line not established from available knowledge.
Moat: none
Headquarters: Henan, China · Employees: 1,139
Size Henan Thinker Automatic Equipment (603508.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $1.18B, the 1992nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥20.83 on 6 Nov 2026.
Performance Over six months the shares fell 20.4%, against -22.5% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue fell 1.1% over the last twelve months (peer median +10.4%); the operating margin is 38.8% (peer median 8.1%).
Valuation It trades at 9.1× forward earnings against a peer median of 29.3× (cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.0 points above its cost of capital (6.3% WACC).
Next results Next results expected around 14 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.54B | CN¥1.50B | CN¥1.50B | CN¥1.17B | CN¥1.05B |
| Revenue growth | — | 0% | +28% | +11% | — |
| Gross profit | CN¥1.02B | CN¥975M | CN¥963M | CN¥703M | CN¥605M |
| EBITDA | n/a | CN¥695M | CN¥667M | CN¥496M | CN¥384M |
| Net income | CN¥562M | CN¥556M | CN¥548M | CN¥412M | CN¥346M |
| Free cash flow | CN¥593M | CN¥655M | CN¥399M | CN¥253M | CN¥192M |
| Capital expenditure | CN¥26.3M | CN¥18.8M | CN¥41.0M | CN¥37.4M | CN¥38.3M |
| Total debt | CN¥0 | CN¥16.9M | CN¥45.0M | CN¥37.1M | CN¥12.5M |
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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 | 603508.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.8% | -8.3% | 6th highest of 21 |
| 6-month return | -20.4% | -22.5% | 10th highest of 20 |
| Distance from 52-week high | -38.5% | -43.6% | 7th highest of 21 |
| Revenue growth (TTM) | -1.1% | +10.4% | 7th lowest of 21 |
| Operating margin | 38.8% | 8.1% | highest of 21 |
| Forward P/E | 9.1× | 29.3× | cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -3.9% | 14.3% | least demanding of 8 |
| Growth delivered (Del g) | +12.6% | +9.9% | 2nd highest of 8 |
| Hurdle (Req g minus delivered) | -16.5 pp | +7.6 pp | least demanding of 8 |
| ROIC minus cost of capital | +9.0 pp | -1.5 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Henan Thinker Automatic Equipment 603508.SS | China | $1.18B | -20% | -1% | 39% | 9.1× | -3.9% | +12.6% |
| Wuhan East Lake High Technology 600133.SS | China | $1.17B | -18% | -3% | 8% | n/a | n/a | n/a |
| Kinpo Electronics 2312.TW | Taiwan | $1.16B | -8% | -7% | 3% | n/a | n/a | n/a |
| Ventec International 6672.TW | Taiwan | $1.15B | +110% | +20% | 13% | 30.6× | n/a | n/a |
| Hunan Zhongke Electric 300035.SZ | China | $1.22B | -42% | +46% | 5% | 20.6× | n/a | n/a |
| GVS S.p.A GVS.MI | Italy | $1.24B | +35% | -1% | 12% | 20.7× | 14.3% | +3.2% |
| OKI Electric Industry 6703.T | Japan | $1.24B | -32% | -4% | 4% | 11.3× | 10.1% | +1.4% |
| Shenzhen Clou Electronics 002121.SZ | China | $1.11B | -36% | +40% | -5% | 29.5× | n/a | n/a |
| Shandong Chunguang Technology 301531.SZ | China | $1.29B | n/a | +7% | 12% | n/a | 58.9% | +4.4% |
| Uni-Trend Technology (China) 688628.SS | China | $1.07B | -34% | +33% | 15% | 29.1× | n/a | n/a |
| Henan Yicheng New Energy 300080.SZ | China | $1.05B | -17% | -13% | -21% | n/a | n/a | n/a |
| Asia Optical 3019.TW | Taiwan | $1.04B | -14% | +13% | 10% | 16.2× | 0.1% | +10.9% |
| Guangdong High Dream Intellectualized Machinery 300720.SZ | China | $1.38B | -25% | +8% | 6% | n/a | n/a | n/a |
| Camelot Electronics Technology 301282.SZ | China | $992M | +12% | +58% | 7% | n/a | n/a | n/a |
| Rigol Technologies 688337.SS | China | $990M | -45% | +27% | 9% | 51.4× | 24.5% | +20.5% |
| Wuxi Xinje Electric 603416.SS | China | $984M | -22% | +26% | 9% | 21.1× | 19.8% | +12.2% |
| Shanghai Liangxin Electrical Co 002706.SZ | China | $1.42B | -26% | +6% | 3% | 30.5× | n/a | n/a |
| Gl Tech 300480.SZ | China | $1.44B | -28% | +43% | 13% | 57.6× | n/a | n/a |
| Chongqing Chuanyi Automation 603100.SS | China | $1.44B | -4% | +3% | 7% | 14.5× | 2.6% | +9.9% |
| Park Systems 140860.KS | South Korea | $965M | -35% | -6% | 12% | 30.3× | n/a | n/a |
| Kinco Automation Shanghai 688160.SS | China | $1.45B | -2% | +46% | 9% | 90.3× | n/a | n/a |