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Chinese maker of power/electrical metering and testing equipment; specific product line not fully established.
Chinese maker of power/electrical metering and testing equipment; specific product line not fully established.
Moat: none
Headquarters: Hangzhou, China · Employees: 316
Size Hangzhou Kelin Electric (688611.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $1.51B, the 1630th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥65.48 on 6 Nov 2026.
Performance Over six months the shares gained 3.8%, against -16.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 57.7% over the last twelve months (peer median +5.8%); the operating margin is -32.2% (peer median 7.6%).
Valuation It trades at 48.1× forward earnings against a peer median of 21.9× (5th most expensive of 16).
Capital Return on invested capital runs 10.4 points below its cost of capital (9.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥176M | CN¥206M | CN¥539M | CN¥200M | CN¥189M |
| Revenue growth | — | -62% | +170% | +6% | — |
| Gross profit | CN¥99.7M | CN¥87.2M | CN¥158M | CN¥111M | CN¥103M |
| EBITDA | n/a | CN¥23.5M | CN¥80.8M | CN¥37.3M | CN¥39.5M |
| Net income | -CN¥45.4M | -CN¥3.05M | CN¥73.0M | CN¥47.2M | CN¥57.0M |
| Free cash flow | -CN¥11.4M | -CN¥25.3M | -CN¥217M | -CN¥71.6M | -CN¥24.3M |
| Capital expenditure | CN¥58.7M | CN¥106M | CN¥324M | CN¥144M | CN¥44.6M |
| Total debt | CN¥346M | CN¥90.2M | CN¥36.9M | CN¥25.6M | CN¥1.93M |
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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 | 688611.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.1% | -6.9% | 3rd highest of 21 |
| 6-month return | +3.8% | -16.5% | 3rd highest of 20 |
| Distance from 52-week high | -24.3% | -44.2% | 4th highest of 21 |
| Revenue growth (TTM) | -57.7% | +5.8% | lowest of 21 |
| Operating margin | -32.2% | 7.6% | 2nd lowest of 21 |
| Forward P/E | 48.1× | 21.9× | 5th most expensive of 16 |
| ROIC minus cost of capital | -10.4 pp | -0.8 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Kelin Electric 688611.SS | China | $1.51B | +4% | -58% | -32% | 48.1× | n/a | n/a |
| TAIFLEX Scientific 8039.TW | Taiwan | $1.51B | +36% | +3% | 6% | n/a | 28.3% | +3.9% |
| Amano 6436.T | Japan | $1.50B | -4% | +1% | 11% | 13.7× | -7.6% | +9.2% |
| Glory 6457.T | Japan | $1.53B | +16% | -8% | 9% | 12.2× | -8.1% | +9.3% |
| Zhejiang Dali Technology 002214.SZ | China | $1.45B | -15% | +1% | -68% | n/a | n/a | n/a |
| Kinco Automation Shanghai 688160.SS | China | $1.45B | -2% | +46% | 9% | 90.3× | n/a | n/a |
| Chongqing Chuanyi Automation 603100.SS | China | $1.44B | -4% | +3% | 7% | 14.5× | 2.6% | +9.9% |
| Gl Tech 300480.SZ | China | $1.44B | -28% | +43% | 13% | 57.6× | n/a | n/a |
| Shanghai Liangxin Electrical Co 002706.SZ | China | $1.42B | -26% | +6% | 3% | 30.5× | n/a | n/a |
| Hexing Electrical 603556.SS | China | $1.61B | -23% | +6% | 9% | 14.2× | 0.1% | +11.3% |
| Shenzhen VMAX New Energy (Group) 688612.SS | China | $1.63B | -21% | -6% | 9% | 17.5× | 18.8% | +57.4% |
| Zhejiang HangKe Technology 688006.SS | China | $1.64B | -43% | +12% | 3% | 24.0× | 16.0% | +14.9% |
| Guangdong High Dream Intellectualized Machinery 300720.SZ | China | $1.38B | -25% | +8% | 6% | n/a | n/a | n/a |
| Suzhou TZTEK Technology 688003.SS | China | $1.67B | -19% | +33% | 5% | 64.3× | 42.0% | +13.2% |
| Jiangsu Linyang Energy 601222.SS | China | $1.74B | -6% | +35% | 8% | 15.4× | n/a | n/a |
| Shandong Chunguang Technology 301531.SZ | China | $1.29B | n/a | +7% | 12% | n/a | 58.9% | +4.4% |
| Suzhou Hengmingda Electronic Technology 002947.SZ | China | $1.78B | -43% | +13% | 18% | 15.6× | 9.4% | +34.8% |
| Oxford Instruments OXIG.L | United Kingdom | $1.79B | -16% | -15% | 15% | 21.9× | 20.1% | +5.8% |
| Hanwei Electronics 300007.SZ | China | $1.79B | -15% | -3% | 2% | 65.2× | 40.9% | +4.6% |
| Beijing Aerospace Shenzhou Intelligent Equipment Technology 300455.SZ | China | $1.81B | -36% | -29% | -4% | n/a | n/a | n/a |
| Shenzhen Topband 002139.SZ | China | $1.81B | -8% | +9% | 3% | 37.7× | n/a | n/a |