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Chinese maker of industrial gear reducers (speed reducers) used to control motor speed and torque in machinery.
Chinese maker of industrial gear reducers (speed reducers) used to control motor speed and torque in machinery.
Sells gearboxes, which cut a motor's speed and raise its torque, mostly to machinery builders and distributors in standard models that fit many applications, so sales follow factory investment. It also supplies replacement units for installed machines.
Moat: narrow (installed base, distribution). Established brand and distribution among Chinese machinery makers needing standardized reducers.
Headquarters: Changzhou, China · Founded: 1958 · Employees: 2,665
Size Jiangsu Guomao Reducer (603915.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.37B, the 1776th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.91 on 6 Nov 2026.
Performance Over six months the shares fell 11.5%, against -32.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 10.9% over the last twelve months (peer median +22.3%); the operating margin is 8.7% (peer median 10.0%).
Valuation It trades at 28.4× forward earnings against a peer median of 27.2× (7th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +12 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 0.4 points above its cost of capital (10.8% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.93B | CN¥2.64B | CN¥2.57B | CN¥2.65B | CN¥2.68B |
| Revenue growth | — | +3% | -3% | -1% | — |
| Gross profit | CN¥703M | CN¥503M | CN¥493M | CN¥648M | CN¥687M |
| EBITDA | n/a | CN¥388M | CN¥423M | CN¥537M | CN¥517M |
| Net income | CN¥274M | CN¥235M | CN¥294M | CN¥396M | CN¥414M |
| Free cash flow | CN¥471M | CN¥217M | CN¥532M | CN¥453M | CN¥123M |
| Capital expenditure | CN¥67.0M | CN¥31.2M | CN¥67.4M | CN¥85.4M | CN¥228M |
| Total debt | CN¥945M | CN¥740M | CN¥791M | CN¥707M | CN¥673M |
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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 | 603915.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | -18.9% | highest of 20 |
| 6-month return | -11.5% | -32.6% | 4th highest of 20 |
| Distance from 52-week high | -32.3% | -60.5% | 3rd highest of 20 |
| Revenue growth (TTM) | +10.9% | +22.3% | 6th lowest of 20 |
| Operating margin | 8.7% | 10.0% | 9th lowest of 20 |
| Forward P/E | 28.4× | 27.2× | 7th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 16.3% | 11.9% | 4th most demanding of 8 |
| Growth delivered (Del g) | +4.0% | +11.3% | 2nd lowest of 8 |
| Hurdle (Req g minus delivered) | +12.3 pp | -7.8 pp | 3rd most demanding of 8 |
| ROIC minus cost of capital | +0.4 pp | -1.8 pp | 9th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Guomao Reducer 603915.SS | China | $1.37B | -11% | +11% | 9% | 28.4× | 16.3% | +4.0% |
| Topoint Technology 8021.TW | Taiwan | $1.37B | -28% | +49% | 21% | 27.2× | n/a | n/a |
| Suzhou Veichi Electric 688698.SS | China | $1.37B | -38% | +20% | 7% | 36.4× | n/a | n/a |
| Kirloskar Brothers KIRLOSBROS.NS | India | $1.37B | -8% | +11% | 9% | n/a | 33.9% | +10.8% |
| Sunrise Energy Metals SRL.AX | Australia | $1.38B | -16% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Zaisheng Technology 603601.SS | China | $1.35B | -50% | -6% | 1% | 158.2× | 39.7% | -7.5% |
| Guangdong Huicheng Vacuum Technology 301392.SZ | China | $1.41B | -25% | +48% | 7% | n/a | n/a | n/a |
| PowerTECH 301369.SZ | China | $1.34B | -26% | +56% | 3% | n/a | n/a | n/a |
| Hymson Laser Technology 688559.SS | China | $1.41B | -34% | +78% | 1% | 22.0× | 11.9% | +26.3% |
| Bonfiglioli Transmissions BONFIG.NS | India | $1.33B | n/a | +9% | 16% | n/a | n/a | n/a |
| GKG Precision Machine 301338.SZ | China | $1.32B | -57% | +38% | 17% | 24.8× | n/a | n/a |
| Wasion 3393.HK | Hong Kong | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% | +19.7% |
| Test Research 3030.TW | Taiwan | $1.44B | -51% | +32% | 40% | n/a | -2.5% | +11.3% |
| Zhuzhou Huarui Precision Cutting Tools 688059.SS | China | $1.44B | -33% | +23% | 36% | 18.1× | n/a | n/a |
| Ableprint Technology 7734.TWO | Taiwan | $1.31B | -58% | +48% | 50% | 20.7× | 18.8% | +10.1% |
| Sprint Precision Technologies 688605.SS | China | $1.31B | -3% | +16% | 10% | 61.2× | n/a | n/a |
| Wafer Works 6182.TWO | Taiwan | $1.30B | +42% | +9% | 4% | 36.0× | n/a | n/a |
| Yizumi 300415.SZ | China | $1.29B | -25% | +13% | 11% | 11.9× | 9.6% | +17.4% |
| Qinchuan Machine Tool & Tool Group Share 000837.SZ | China | $1.46B | -14% | +8% | -4% | 105.7× | n/a | n/a |
| Hongyuan Green Energy 603185.SS | China | $1.46B | -34% | +14% | -15% | 51.1× | n/a | n/a |
| Shenzhen Qiangrui Precision Technology 301128.SZ | China | $1.46B | -47% | +56% | 10% | n/a | n/a | n/a |