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Chinese maker of precision cutting tools (tungsten-carbide/tooling) for metalworking.
Chinese maker of precision cutting tools (tungsten-carbide/tooling) for metalworking.
Cutting tools are consumed and replaced, so orders repeat with factory output, and the company sells largely through distributors to metalworking plants. Customers weigh price against tool life, which is the main contest with imported brands.
Moat: narrow (process know-how). Specialist tooling maker in a fragmented, import-substitution-driven segment.
Headquarters: China · Employees: 1,404
Size OKE Precision Cutting Tools (688308.SS) is a China Industrials company (Metal Fabrication) with a market value of $1.15B, the 2046th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥48.50 on 6 Nov 2026.
Performance Over six months the shares fell 49.3%, against -26.4% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 79.4% over the last twelve months (peer median +16.0%); the operating margin is 25.0% (peer median 6.9%).
Valuation It trades at 13.6× forward earnings against a peer median of 22.4× (4th cheapest of 14).
Capital Return on invested capital runs 2.7 points below its cost of capital (12.0% WACC).
Next results Next results expected around 14 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.06B | CN¥1.45B | CN¥1.12B | CN¥1.02B | CN¥1.05B |
| Revenue growth | — | +30% | +10% | -2% | — |
| Gross profit | CN¥739M | CN¥275M | CN¥220M | CN¥279M | CN¥365M |
| EBITDA | CN¥697M | CN¥251M | CN¥156M | CN¥233M | CN¥330M |
| Net income | CN¥474M | CN¥104M | CN¥57.3M | CN¥166M | CN¥242M |
| Free cash flow | -CN¥351M | -CN¥225M | -CN¥346M | -CN¥440M | -CN¥292M |
| Capital expenditure | CN¥135M | CN¥195M | CN¥388M | CN¥442M | CN¥473M |
| Total debt | CN¥1.38B | CN¥841M | CN¥1.03B | CN¥1.01B | CN¥493M |
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| Measure | 688308.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -34.9% | -5.2% | lowest of 21 |
| 6-month return | -49.3% | -26.4% | 2nd lowest of 21 |
| Distance from 52-week high | -77.0% | -45.3% | lowest of 21 |
| Revenue growth (TTM) | +79.4% | +16.0% | 2nd highest of 21 |
| Operating margin | 25.0% | 6.9% | highest of 21 |
| Forward P/E | 13.6× | 22.4× | 4th cheapest of 14 |
| ROIC minus cost of capital | -2.7 pp | -2.0 pp | 9th lowest of 21 |
| EV / EBITDA | 12.7× | 14.8× | 3rd cheapest of 5 |
| Net debt / EBITDA | 1.6× | 2.7× | 3rd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OKE Precision Cutting Tools 688308.SS | China | $1.15B | -49% | +79% | 25% | 13.6× | n/a | n/a |
| Dongguan Eontec 300328.SZ | China | $1.18B | -37% | +9% | -9% | 569.5× | n/a | n/a |
| Baotou Tianhe Magnetics Technology 603072.SS | China | $1.13B | -24% | +22% | 8% | n/a | 24.9% | +15.3% |
| Jiangsu Gian Technology 300709.SZ | China | $1.10B | -5% | +17% | 0% | 37.4× | n/a | n/a |
| Jiangsu Chint Power Technology 002150.SZ | China | $1.10B | -30% | +23% | 11% | 23.2× | n/a | n/a |
| Qingdao Yunlu Advanced Materials Technology 688190.SS | China | $1.22B | -17% | -2% | 12% | 21.9× | 20.5% | +21.5% |
| Shanghai Unison Aluminium Products 603418.SS | China | $1.23B | -18% | +26% | 11% | n/a | n/a | n/a |
| Guangdong Xianglu Tungsten 002842.SZ | China | $1.23B | -38% | +126% | 15% | n/a | n/a | n/a |
| Hunan Boyun New Materials 002297.SZ | China | $1.25B | -41% | +37% | 15% | n/a | n/a | n/a |
| Sanwei 603033.SS | China | $1.04B | -40% | +10% | -6% | n/a | 13.7% | +21.1% |
| China Harzone Industry 300527.SZ | China | $1.03B | -18% | -12% | 1% | n/a | n/a | n/a |
| Ramkrishna Forgings RKFORGE.NS | India | $1.34B | +12% | +25% | 9% | 46.9× | n/a | n/a |
| Wuxi Paike New Materials and Technology 605123.SS | China | $1.34B | -31% | +23% | 8% | 22.0× | n/a | n/a |
| Juli Sling 002342.SZ | China | $989M | -66% | +19% | 3% | n/a | n/a | n/a |
| Gibraltar Industries ROCK | United States | $964M | -20% | +14% | 11% | 7.9× | 7.3% | +1.9% |
| Hsino Tower 601096.SS | China | $961M | -31% | -7% | 3% | 22.4× | n/a | n/a |
| Riyue Heavy Industry 603218.SS | China | $1.41B | -28% | -17% | 5% | 24.6× | 5.0% | +4.1% |
| Freewon China 688678.SS | China | $1.41B | -13% | +33% | 6% | 19.6× | n/a | n/a |
| Evergreen Steel 2211.TW | Taiwan | $943M | -24% | +9% | 21% | 9.5× | -9.2% | +10.4% |
| Zhejiang JW Precision Machinery 300984.SZ | China | $931M | -29% | +9% | 4% | 78.7× | n/a | n/a |
| Changjiang & Jinggong Steel Building (Group) 600496.SS | China | $931M | -25% | +1% | 3% | 9.7× | -1.5% | +12.7% |