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Chinese maker of industrial automation products — variable-frequency drives, servo systems and PLCs — for factory equipment.
Chinese maker of industrial automation products — variable-frequency drives, servo systems and PLCs — for factory equipment.
Sells drives and controllers to machinery makers who build them into their equipment, with demand following industrial investment in areas such as lifts and solar water pumping. It competes by pricing below foreign rivals and offering quick local support.
Moat: narrow (process know-how, distribution). Domestic automation-component maker competing on price and localized support versus foreign incumbents.
Headquarters: Suzhou, China · Employees: 1,927
Size Suzhou Veichi Electric (688698.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.37B, the 1778th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥42.48 on 6 Nov 2026.
Performance Over six months the shares fell 37.8%, against -27.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 19.5% over the last twelve months (peer median +22.3%); the operating margin is 6.6% (peer median 10.0%).
Valuation It trades at 36.4× forward earnings against a peer median of 27.2× (5th most expensive of 14).
Capital Return on invested capital runs 3.0 points below its cost of capital (8.4% WACC).
Next results Next results expected around 20 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.19B | CN¥1.94B | CN¥1.63B | CN¥1.30B | CN¥900M |
| Revenue growth | — | +19% | +26% | +44% | — |
| Gross profit | CN¥769M | CN¥699M | CN¥615M | CN¥476M | CN¥311M |
| EBITDA | n/a | CN¥255M | CN¥225M | CN¥202M | CN¥129M |
| Net income | CN¥213M | CN¥263M | CN¥245M | CN¥191M | CN¥140M |
| Free cash flow | -CN¥42.8M | -CN¥55.3M | CN¥17.2M | -CN¥170M | CN¥95.3M |
| Capital expenditure | CN¥134M | CN¥143M | CN¥200M | CN¥182M | CN¥90.6M |
| Total debt | CN¥611M | CN¥709M | CN¥455M | CN¥266M | CN¥236M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Suzhou Veichi Electric 688698.SS | $1.37B | -38% | +20% | 7% | 36.4× | n/a |
| Shenzhen Inovance Technology 300124.SZ | $23.0B | -17% | +19% | 10% | 27.0× | 21.3% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
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 | 688698.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.0% | -18.9% | 2nd highest of 20 |
| 6-month return | -37.8% | -27.7% | 7th lowest of 20 |
| Distance from 52-week high | -62.6% | -58.4% | 9th lowest of 20 |
| Revenue growth (TTM) | +19.5% | +22.3% | 10th lowest of 20 |
| Operating margin | 6.6% | 10.0% | 7th lowest of 20 |
| Forward P/E | 36.4× | 27.2× | 5th most expensive of 14 |
| ROIC minus cost of capital | -3.0 pp | -0.1 pp | 9th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Topoint Technology 8021.TW | Taiwan | $1.37B | -28% | +49% | 21% | 27.2× | n/a | n/a |
| Jiangsu Guomao Reducer 603915.SS | China | $1.37B | -11% | +11% | 9% | 28.4× | 16.3% | +4.0% |
| 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% |
| PowerTECH 301369.SZ | China | $1.34B | -26% | +56% | 3% | n/a | n/a | n/a |
| Bonfiglioli Transmissions BONFIG.NS | India | $1.33B | n/a | +9% | 16% | n/a | n/a | n/a |
| Guangdong Huicheng Vacuum Technology 301392.SZ | China | $1.41B | -25% | +48% | 7% | n/a | n/a | n/a |
| Hymson Laser Technology 688559.SS | China | $1.41B | -34% | +78% | 1% | 22.0× | 11.9% | +26.3% |
| GKG Precision Machine 301338.SZ | China | $1.32B | -57% | +38% | 17% | 24.8× | n/a | n/a |
| Ableprint Technology 7734.TWO | Taiwan | $1.31B | -58% | +48% | 50% | 20.7× | 18.8% | +10.1% |
| Wasion 3393.HK | Hong Kong | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% | +19.7% |
| Sprint Precision Technologies 688605.SS | China | $1.31B | -3% | +16% | 10% | 61.2× | n/a | n/a |
| 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 |
| 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 |