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Chinese ODM maker of smart lighting and IoT smart-home devices for global brands.
Chinese ODM maker of smart lighting and IoT smart-home devices for global brands.
Moat: none (customer qualification). ODM manufacturer for global brands; differentiation is limited and margins are contract-manufacturing thin.
Headquarters: Xiamen, Fujian, China · Employees: 8,939
Size Leedarson IoT Technology (605365.SS) is a China Industrials company (Electrical Products) with a market value of $1.01B, the 2284th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.36 on 6 Nov 2026.
Performance Over six months the shares fell 54.7%, against -25.5% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue fell 2.1% over the last twelve months (peer median +16.6%); the operating margin is 4.4% (peer median 5.3%).
Valuation It trades at 15.4× forward earnings against a peer median of 24.6× (5th cheapest of 14).
Capital Return on invested capital runs 0.6 points above its cost of capital (7.7% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.67B | CN¥6.85B | CN¥6.78B | CN¥6.66B | CN¥7.54B |
| Revenue growth | — | +1% | +2% | -12% | — |
| Gross profit | CN¥1.87B | CN¥1.67B | CN¥1.86B | CN¥1.88B | CN¥1.88B |
| EBITDA | n/a | CN¥383M | CN¥540M | CN¥423M | CN¥546M |
| Net income | CN¥242M | CN¥209M | CN¥418M | CN¥314M | CN¥494M |
| Free cash flow | -CN¥243M | -CN¥518M | CN¥210M | CN¥248M | CN¥343M |
| Capital expenditure | CN¥420M | CN¥559M | CN¥181M | CN¥464M | CN¥274M |
| Total debt | CN¥1.49B | CN¥1.41B | CN¥1.21B | CN¥1.03B | CN¥827M |
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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 | 605365.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.7% | -7.7% | 9th highest of 21 |
| 6-month return | -54.7% | -25.5% | 2nd lowest of 20 |
| Distance from 52-week high | -60.1% | -46.7% | 3rd lowest of 21 |
| Revenue growth (TTM) | -2.1% | +16.6% | 6th lowest of 21 |
| Operating margin | 4.4% | 5.3% | 10th lowest of 21 |
| Forward P/E | 15.4× | 24.6× | 5th cheapest of 14 |
| ROIC minus cost of capital | +0.6 pp | -2.4 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Leedarson IoT Technology 605365.SS | China | $1.01B | -55% | -2% | 4% | 15.4× | n/a | n/a |
| Sanyo Denki 6516.T | Japan | $1.01B | -39% | +20% | 12% | 11.4× | 9.0% | +6.7% |
| Topsec Technologies 002212.SZ | China | $1.01B | -18% | -9% | -14% | 99.8× | n/a | n/a |
| discoverIE DSCV.L | United Kingdom | $997M | +17% | +5% | 10% | 17.1× | 21.4% | +7.9% |
| Guangdong Shunna Electric 000533.SZ | China | $996M | -24% | +25% | 6% | n/a | 16.8% | +8.7% |
| Shenzhen Senior Technology Material 6067.HK | Hong Kong | $1.02B | n/a | +53% | 10% | 10.2× | n/a | n/a |
| Elecon Engineering ELECON.NS | India | $995M | -26% | +5% | 17% | 24.6× | 31.3% | +17.8% |
| Ficont Industry(Beijing) 605305.SS | China | $989M | -35% | +15% | 26% | 10.6× | -1.1% | +22.5% |
| Guangzhou Zhiguang Electric 002169.SZ | China | $1.02B | -34% | +28% | 1% | n/a | n/a | n/a |
| Zhejiang Yankon 600261.SS | China | $1.03B | +52% | -2% | 4% | n/a | 10.2% | -11.1% |
| Mersen MRN.PA | France | $976M | -1% | -3% | 9% | 13.1× | 11.0% | +7.0% |
| Transformers and Rectifiers (India) TARIL.NS | India | $974M | -7% | +27% | 15% | 26.3× | n/a | n/a |
| Fluence Energy FLNC | United States | $973M | -78% | +7% | -4% | n/a | n/a | n/a |
| Hunan Valin Wire & Cable 001208.SZ | China | $1.04B | -36% | +20% | 2% | 25.5× | 32.0% | +21.6% |
| Voltamp Transformers VOLTAMP.NS | India | $1.04B | +1% | +18% | 15% | 28.6× | 35.4% | +25.5% |
| Shenzhen Uniconn Technology 301631.SZ | China | $969M | -34% | +32% | 5% | 17.1× | 18.2% | +49.0% |
| Guangdong Xinyaguang Cable 001382.SZ | China | $968M | -21% | +12% | 4% | n/a | n/a | n/a |
| CSG Smart Science&Technology 300222.SZ | China | $966M | -27% | +26% | 2% | 30.5× | n/a | n/a |
| Jiangsu Zhongchao 002471.SZ | China | $963M | -45% | -5% | 1% | n/a | n/a | n/a |
| Jolywood (Suzhou) Sunwatt 300393.SZ | China | $958M | -42% | -48% | -62% | 30.8× | 5.1% | -2.7% |
| Motic (Xiamen) Electric 300341.SZ | China | $957M | -20% | +19% | 12% | n/a | 17.7% | +5.1% |