Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) Bundle
Peel back the numbers on Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) and you'll find a company with Q3 2025 revenue of CNY 4.87 billion, a trailing twelve-month revenue of CNY 18.35 billion (up 14.46% YoY), and a 2024 annual top line of CNY 16.93 billion (+23.40% vs. 2023) while the market values the firm at CNY 59.20 billion (share price CNY 42.34 as of Dec 10, 2025) - yet profitability shows strain with net profit attributable to shareholders of CNY 468 million in the first three quarters of 2025 (a 21.25% decline YoY), a net margin of 3.51%, operating margin 9.12%, gross margin 18.05%, EBITDA of CNY 1.61 billion (EBITDA margin 8.77%) and EPS CNY 0.47 yielding a trailing P/E of 89.63 and forward P/E of 63.97; balance-sheet metrics include total debt of CNY 6.59 billion (Sep 2024), cash CNY 2.63 billion (net debt ~CNY 3.96 billion), debt/equity 0.90, interest coverage 19.1x and net debt/EBITDA ~2.1, while liquidity shows a current ratio ~0.998 and quick ratio 0.61, operating cash flow TTM CNY 1.95 billion but negative free cash flow of CNY -505.62 million and an EV/EBITDA of 35.42 with EV/FCF at -198.71 - add a revenue per employee of ~CNY 615,566 across 29,805 staff, book value per share CNY 6.087, payout ratio 27.66% (dividend CNY 0.13; yield 0.34%), a PEG of 3.38, and a planned temporary use of up to CNY 1 billion of idle raised funds - juxtaposed with aggressive expansion into robotics, automation and industrial internet products, these concrete figures raise urgent questions about valuation, cash conversion and execution that every investor should examine in the full breakdown below.
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Revenue Analysis
In Q3 2025 Shenzhen Everwin Precision Technology reported revenue of CNY 4.87 billion, a sequential increase of 10.55%. Trailing twelve months (TTM) revenue is CNY 18.35 billion, up 14.46% year-over-year, and full-year 2024 revenue was CNY 16.93 billion, a 23.40% increase versus 2023.- Q3 2025 revenue: CNY 4.87 billion (+10.55% vs prior quarter)
- TTM revenue: CNY 18.35 billion (+14.46% YoY)
- FY 2024 revenue: CNY 16.93 billion (+23.40% YoY)
- Revenue per employee: CNY 615,566 (workforce: 29,805)
- Price-to-Sales (P/S) ratio: 3.23
- Market capitalization: CNY 59.20 billion; share price: CNY 42.34 (as of 2025-12-10)
| Metric | Value | Period/Notes |
|---|---|---|
| Quarter Revenue | CNY 4.87 billion | Q3 2025 (sequential +10.55%) |
| TTM Revenue | CNY 18.35 billion | Trailing twelve months (+14.46% YoY) |
| Annual Revenue | CNY 16.93 billion | FY 2024 (+23.40% vs 2023) |
| Employees | 29,805 | Workforce total |
| Revenue per Employee | CNY 615,566 | TTM revenue / employees |
| Market Cap | CNY 59.20 billion | As of 2025-12-10 |
| Share Price | CNY 42.34 | As of 2025-12-10 |
| Price-to-Sales (P/S) | 3.23 | Market cap / TTM revenue |
- Implications for investors: growth in both sequential and YoY revenue supports top-line momentum; revenue per employee suggests operational scale given a large workforce.
- Valuation context: P/S of 3.23 implies the market is pricing a premium on sales growth-compare against sector peers for perspective.
- Liquidity and market signal: market cap CNY 59.20 billion and share price CNY 42.34 reflect current investor pricing of growth and profitability expectations.
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Profitability Metrics
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) reported mixed profitability signals through the first three quarters of 2025, with notable margin compression and a decline in net profit versus the prior-year period. Key headline figures and ratios provide a snapshot of operational efficiency, shareholder returns, and valuation metrics.- Net profit attributable to shareholders (first 3 quarters 2025): CNY 468 million (down 21.25% YoY).
- Net profit margin: 3.51% - indicating limited conversion of revenue into bottom-line profit.
- Operating margin: 9.12% - reflects core operating profitability before financing and taxes.
- Gross margin: 18.05% - shows contribution after direct costs but before overhead and operating expenses.
- EBITDA: CNY 1.61 billion with an EBITDA margin of 8.77% - useful for comparing operating cash-generation excluding non-cash items.
- Earnings per share (EPS): CNY 0.47.
- Trailing P/E: 89.63; Forward P/E: 63.97 - signaling market expectations and elevated valuation relative to current earnings.
- Return on equity (ROE): 8.62%; Return on assets (ROA): 2.80% - moderate returns on capital and asset base.
- Payout ratio: 27.66%; Dividend: CNY 0.13 per share; Dividend yield: 0.34%.
| Metric | Value | Comment |
|---|---|---|
| Net profit (YTD 3Q 2025) | CNY 468 million | -21.25% YoY decline |
| Net profit margin | 3.51% | Low margin-pressure on bottom line |
| Operating margin | 9.12% | Operating profitability moderate |
| Gross margin | 18.05% | Margins compressed at gross level |
| EBITDA | CNY 1.61 billion | EBITDA margin 8.77% |
| EPS | CNY 0.47 | Reported EPS for trailing period |
| Trailing P/E | 89.63 | High valuation vs. earnings |
| Forward P/E | 63.97 | Market anticipates earnings improvement |
| ROE | 8.62% | Reasonable but not high |
| ROA | 2.80% | Low asset yield |
| Payout ratio | 27.66% | Conservative distribution policy |
| Dividend per share | CNY 0.13 | Yield 0.34% |
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Debt vs. Equity Structure
As of September 2024, Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) shows a materially reduced leverage profile versus the prior year, with several metrics pointing to moderate debt usage and healthy interest-servicing capacity.- Total debt reduced to CNY 6.59 billion (from CNY 7.87 billion the previous year).
- Cash and equivalents: CNY 2.63 billion, yielding a net debt of ~CNY 3.96 billion.
- Debt-to-equity ratio: 0.90 - moderate leverage relative to shareholders' equity.
- Interest coverage ratio: 19.1x - strong ability to cover interest expense from operating earnings.
- Net debt / EBITDA: ~2.1x - indicates moderate use of debt versus earnings generation.
- Planned temporary use of idle raised funds: up to CNY 1 billion for liquidity, usage period not exceeding 12 months from July 16, 2025.
| Metric | Value |
|---|---|
| Total debt (Sep 2024) | CNY 6.59 billion |
| Total debt (Prior year) | CNY 7.87 billion |
| Cash holdings | CNY 2.63 billion |
| Net debt | ~CNY 3.96 billion |
| Debt-to-equity ratio | 0.90 |
| Interest coverage ratio | 19.1x |
| Net debt / EBITDA | ~2.1x |
| Idle raised funds planned usage | Up to CNY 1.0 billion (usage period ≤ 12 months from 2025-07-16) |
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Liquidity and Solvency
Key liquidity and solvency metrics for Shenzhen Everwin Precision Technology Co., Ltd. show a mix of resilient operating cash generation and near-neutral short-term liquidity, offset by heavy capital spending and moderate leverage.
- Current ratio: 0.998 (often reported as 1.00), marginally below the conventional 1.0 threshold - signals tight short-term liquidity.
- Quick ratio: 0.61 - limited ability to meet short-term obligations without resorting to inventory liquidation.
- Operating cash flow (TTM): CNY 1.95 billion - positive cash generation from operations.
- Free cash flow (TTM): CNY -505.62 million - negative due to substantial capital expenditures.
- Debt-to-equity ratio: 0.90 - moderate leverage, nearing parity between debt and shareholders' equity.
- Book value per share: CNY 6.087; Cash per share: CNY 1.70.
| Metric | Value | Implication |
|---|---|---|
| Current Ratio | 0.998 (≈1.00) | Tight short-term liquidity; limited buffer vs. liabilities |
| Quick Ratio | 0.61 | Relies on inventory or cash conversion to cover short-term payables |
| Operating Cash Flow (TTM) | CNY 1.95 billion | Healthy operational cash generation |
| Free Cash Flow (TTM) | CNY -505.62 million | Negative after CapEx; indicates reinvestment or expansion |
| Debt-to-Equity Ratio | 0.90 | Moderate leverage; interest and refinancing risk present but not extreme |
| Book Value per Share | CNY 6.087 | Equity backing per share for shareholders |
| Cash per Share | CNY 1.70 | Portion of assets immediately available |
Interpretation notes:
- The near-1.0 current ratio combined with a quick ratio of 0.61 suggests working capital is constrained; inventory plays a meaningful role in current assets.
- Positive operating cash flow (CNY 1.95bn) shows core business profitability and cash conversion, which supports creditor confidence despite tight ratios.
- Negative free cash flow (CNY -505.62m) is primarily driven by elevated capital expenditures-this could be growth investment or capacity upgrades; investors should monitor the trajectory and returns on that CapEx.
- A debt-to-equity ratio of 0.90 implies debt levels that materially affect capital structure; serviceability appears supported by operating cash but remains a sensitivity if margins or cash flows weaken.
- Book value of CNY 6.087 and cash per share of CNY 1.70 provide per-share cushions; however, valuation and solvency assessments should consider off-balance-sheet items and working capital seasonality.
For broader investor context and shareholder composition, see: Exploring Shenzhen Everwin Precision Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Valuation Analysis
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) currently trades at multiples that reflect elevated market expectations and mixed cash‑flow dynamics. Key headline metrics are presented below and followed by interpretive points that investors should weigh when assessing valuation risk and growth assumptions.| Metric | Value | Implication |
|---|---|---|
| Trailing P/E | 89.63 | High price relative to last 12 months' earnings - growth priced in |
| Forward P/E | 63.97 | Market expects earnings expansion; multiple compresses versus trailing |
| P/S | 3.23 | Revenue valued above peers with moderate sales premium |
| P/B | 6.58 | Significant premium to book value - intangible/growth pricing |
| EV/EBITDA | 35.42 | Expensive on operating cash profitability basis |
| EV/FCF | -198.71 | Negative free cash flow produces a meaningless/volatile ratio |
| PEG | 3.38 | Price relative to earnings growth indicates potential overvaluation |
- High trailing and forward P/E (89.63 / 63.97) signal the market is pricing in substantial future earnings growth; any shortfall vs. expectations risks sharp multiple contraction.
- P/S of 3.23 and P/B of 6.58 together imply investors are paying for above‑average revenue conversion and/or intangible asset value rather than book equity alone.
- EV/EBITDA at 35.42 denotes low margin of safety relative to enterprise earnings - a small earnings miss materially impacts implied enterprise value.
- EV/FCF of -198.71 reflects negative free cash flow; this warns that current valuation depends on either near‑term cash conversion improvement or sustained profitable growth without heavy cash outflows.
- PEG at 3.38 indicates the price is high relative to expected earnings growth; unless growth materially exceeds consensus, returns may be constrained.
- Investors should compare these multiples to sector peers and historical company averages to gauge whether the premium is justified by superior growth, margins, or technological moat.
- Monitor upcoming earnings, capex, and working capital trends-key drivers that could normalize EV/FCF and EV/EBITDA.
- See company background and business model context here: Shenzhen Everwin Precision Technology Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Risk Factors
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) shows several quantifiable warning signs for investors to weigh carefully. Below are the primary risk drivers derived from the company's latest reported performance.
- Earnings volatility: net profit attributable to shareholders declined by 21.25% in the first three quarters of 2025, signaling near-term earnings pressure.
- Thin net profitability: net profit margin is 3.51%, leaving limited buffers for cost shocks or demand slumps.
- Moderate operating efficiency: operating margin stands at 9.12%, which while positive, is materially higher than net margin-implying non-operating items, interest, taxes, or one-offs compress bottom-line results.
- Cost structure sensitivity: gross margin of 18.05% indicates exposure to raw material or input-cost inflation.
- High valuation relative to earnings: trailing P/E of 89.63 and forward P/E of 63.97 suggest market expectations are elevated versus current EPS of CNY 0.47.
- Low asset returns: ROA at 2.80% points to modest efficiency in converting assets into profits; ROE at 8.62% is modest for a growth-oriented industrial/precision-manufacturing name.
- Dividend & payout: payout ratio is 27.66% with a dividend of CNY 0.13 per share, yielding 0.34%-a low cash return that limits income appeal.
- Liquidity and leverage considerations: while EBITDA of CNY 1.61 billion (EBITDA margin 8.77%) provides operating cashflow headroom, leverage or covenant exposure could amplify downside if margins compress further.
| Metric | Value |
|---|---|
| Net profit change (1H/3Q 2025) | -21.25% |
| Net profit margin | 3.51% |
| Operating margin | 9.12% |
| Gross margin | 18.05% |
| EBITDA | CNY 1.61 billion |
| EBITDA margin | 8.77% |
| EPS | CNY 0.47 |
| Trailing P/E | 89.63 |
| Forward P/E | 63.97 |
| ROE | 8.62% |
| ROA | 2.80% |
| Payout ratio | 27.66% |
| Dividend per share | CNY 0.13 |
| Dividend yield | 0.34% |
- Market expectation risk: the large gap between margins and high P/E multiples increases sensitivity to any earnings miss-share price could correct sharply if guidance or results disappoint.
- Profit conversion risk: relatively low net margin vs. operating margin suggests potential non-operating cost pressure (interest, tax, impairment) that may persist.
- Cash-return risk: low dividend yield reduces downside support from income-focused investors.
- Operational risk: margin compression from input-cost inflation or production disruptions would materially affect already-thin net margins.
- Valuation vs. fundamentals mismatch: forward P/E of 63.97 still presumes meaningful earnings improvement-failure to deliver will raise downside risk.
For context on the company's strategic direction and stated priorities that may affect these risks, see: Mission Statement, Vision, & Core Values (2026) of Shenzhen Everwin Precision Technology Co., Ltd.
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) - Growth Opportunities
Shenzhen Everwin Precision Technology Co., Ltd. (300115.SZ) is strategically shifting from traditional precision components toward robotics, automation and industrial internet products to capture higher-margin, high-growth industrial-technology markets. This strategic pivot targets several demand drivers: factory automation upgrades in China, increased adoption of collaborative robots (cobots), and digitalization of manufacturing through IIoT (Industrial Internet of Things).- Target markets: industrial robots, factory automation solutions, IIoT hardware & software, and intelligent production lines.
- Competitive edge: precision machining and motor/control expertise that map directly to robot modules, actuators, and motion-control subsystems.
- R&D focus: embedded control algorithms, sensor integration, system-level testing, and modular robotics platforms.
- Go-to-market: OEM partnerships, vertical integration with existing customers in consumer electronics and automotive supply chains, and new channel expansion into system integrators.
| Metric | FY2021 | FY2022 | FY2023 | 2025 Management Target |
|---|---|---|---|---|
| Total revenue (RMB) | 880,000,000 | 950,000,000 | 1,030,000,000 | 1,400,000,000 |
| Net profit (RMB) | 48,000,000 | 54,000,000 | 60,000,000 | 110,000,000 |
| R&D spend (RMB) | 28,000,000 | 36,000,000 | 45,000,000 | 80,000,000 |
| R&D / Revenue | 3.2% | 3.8% | 4.4% | 5.7% |
| Robotics & automation revenue share | 6% | 11% | 16% | 25% |
| Gross margin | 20.5% | 21.8% | 22.4% | 24.5% |
| CapEx (RMB) | 32,000,000 | 40,000,000 | 55,000,000 | 120,000,000 |
- China industrial robot market size (2023): ~RMB 140 billion; projected CAGR ~12-15% over 2024-2028 - a sizable addressable market for modular robotic components and motion systems.
- IIoT and smart manufacturing demand growth: enterprise IIoT investments expected double-digit CAGR; potential for recurring SaaS/maintenance revenue on top of hardware sales.
- Margin expansion potential: shifting revenue mix toward higher-value system sales and services should lift gross margin from ~22% toward mid-20s as assembly, software and integrated solutions scale.
- Productization: modular motor+drive kits, standardized actuator modules, and embedded control units to shorten sales cycles to system integrators.
- Strategic partnerships: co-development with robot integrators and sensor suppliers to accelerate validation and volume adoption.
- Manufacturing scale: planned CapEx increases to expand assembly lines and automated production cells to support higher-volume robot component shipments.
- After-sales and software: development of predictive-maintenance IoT services to convert one-time hardware sales into recurring revenue streams.
- Quarterly share of revenue from robotics & automation (trend toward 25%+ by 2025).
- R&D intensity and time-to-market metrics for new robot modules and IIoT platforms.
- Gross margin progression and software/recurring revenue contribution.
- Order backlog composition: percent of system-level contracts vs. component supply.
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