Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) Bundle
Ningbo Zhenyu Technology's latest numbers demand attention: Q3 revenue of 2.55 billion CNY (up 35.30% YoY) and a TTM revenue of 8.71 billion CNY (+28.84% YoY) sit alongside a net profit of 254 million CNY in 2024 - a staggering 493.77% jump - while its core power lithium battery precision structural parts business accounted for 59.48% of 2024 revenue; yet investors must weigh growth against valuation and leverage: market capitalization stood at 24.79 billion CNY (P/S 2.85) with a TTM P/E of 63.37 and forward P/E 56.63, enterprise value/EBITDA at 26.70, debt-to-equity near 97.54%, net debt of 2.90 billion CNY, a current ratio of 1.15 and quick ratio of 0.94, while operating cash flow is positive at 160.96 million CNY but free cash flow is negative at -191.44 million CNY, Altman Z-Score registers 2.33 and Piotroski F-Score is 7 - read on to unpack what these concrete metrics mean for risk, valuation and the company's growth runway
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Revenue Analysis
Ningbo Zhenyu Technology reported robust top-line expansion through 2024-2025, driven primarily by its power lithium battery precision structural parts segment. Revenue momentum accelerated in the quarter ending September 30, 2025, and the company's scale and workforce productivity metrics support the growth narrative.- Q3 2025 (quarter ended Sep 30, 2025) revenue: 2.55 billion CNY, up 35.30% year-over-year.
- TTM revenue as of Sep 30, 2025: 8.71 billion CNY, up 28.84% YoY.
- Full-year 2024 revenue: 7.13 billion CNY, up 18.45% vs. 2023.
- Power lithium battery precision structural parts contributed 59.48% of total 2024 revenue, with nearly 30% YoY growth in that segment.
- Revenue per employee: ~1.54 million CNY, indicating strong workforce productivity.
- Market capitalization (Nov 19, 2025): 24.79 billion CNY; P/S ratio: 2.85.
| Metric | Value | YoY Change |
|---|---|---|
| Q3 2025 Revenue (quarter ended Sep 30, 2025) | 2.55 billion CNY | +35.30% |
| TTM Revenue (as of Sep 30, 2025) | 8.71 billion CNY | +28.84% |
| Revenue (FY 2024) | 7.13 billion CNY | +18.45% |
| Share of Revenue: Power lithium battery structural parts (2024) | 59.48% | ~+30% YoY (segment) |
| Revenue per Employee | ≈1.54 million CNY | - |
| Market Capitalization (Nov 19, 2025) | 24.79 billion CNY | - |
| Price-to-Sales (P/S) | 2.85 | - |
- Concentration in battery structural parts (59.48% of 2024 revenue) both supports rapid revenue scaling and introduces customer/segment concentration risk.
- Revenue growth profile: accelerating from +18.45% (2024 full year) to +28.84% (TTM) and +35.30% in the latest quarter, signaling stronger recent demand or market share gains.
- Valuation context: market cap 24.79 billion CNY with P/S 2.85 implies moderate premium relative to revenue growth-investors should compare to peers in battery component manufacturing.
- Operational efficiency: revenue per employee (~1.54M CNY) highlights productive workforce deployment versus manufacturing peers.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Profitability Metrics
Ningbo Zhenyu Technology's recent profitability profile shows marked improvement in bottom-line performance and solid operational margins, driven by revenue growth and controlled costs.- 2024 net profit: 254 million CNY (up 493.77% year-over-year)
- TTM net income (as of 2025-09-30): 493.48 million CNY
- TTM EPS (as of 2025-09-30): 2.34 CNY
- Return on equity (ROE): 14.15%
- Operating margin: 7.40%
- Profit margin: 5.67%
- Gross margin: 15.14%
- Enterprise value / EBITDA: 26.70
| Metric | Value | Period / Note |
|---|---|---|
| Net Profit | 254 million CNY | FY 2024 (Δ +493.77% YoY) |
| TTM Net Income | 493.48 million CNY | Trailing 12 months as of 2025-09-30 |
| EPS (TTM) | 2.34 CNY | As of 2025-09-30 |
| ROE | 14.15% | Latest reported |
| Operating Margin | 7.40% | Latest reported |
| Profit Margin | 5.67% | Latest reported |
| Gross Margin | 15.14% | Latest reported |
| EV / EBITDA | 26.70 | Market valuation metric |
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Debt vs. Equity Structure
Ningbo Zhenyu Technology Co., Ltd. displays a capital structure with meaningful reliance on debt financing but manageable short-term liquidity and interest coverage. Key headline figures and trends are summarized below.
| Metric | Value | Date / Notes |
|---|---|---|
| Total debt to equity ratio | 117.38% | As of March 31, 2025 |
| Total debt to equity ratio | 97.54% | As of November 10, 2025 |
| Total debt | 4.18 billion CNY | Reported total debt |
| Net cash / Net debt | -2.90 billion CNY (net debt) | Company net cash position indicates net debt |
| Current ratio | 1.15 | Adequate short-term liquidity |
| Quick ratio | 0.94 | Below 1.0 - reliance on inventory for liquidity |
| Interest coverage ratio (EBIT / Interest) | 4.69 | Ability to cover interest expense ~4.7x |
- Leverage trajectory: decline from 117.38% (Mar 31, 2025) to 97.54% (Nov 10, 2025) suggests partial deleveraging or equity growth relative to debt.
- Absolute indebtedness: 4.18 billion CNY in total debt with net debt of 2.90 billion CNY signals leverage remains material versus equity.
- Short-term liquidity: current ratio 1.15 provides coverage for current liabilities, while quick ratio 0.94 warns of potential dependence on inventory conversion.
- Debt service capacity: interest coverage of 4.69x implies operating income cushions interest payments but leaves limited buffer against earnings volatility.
Investors should weigh the company's net debt and leverage trends against operational earnings stability and any upcoming maturities or refinancing needs. For broader context on corporate direction, see Mission Statement, Vision, & Core Values (2026) of Ningbo Zhenyu Technology Co., Ltd.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Liquidity and Solvency
Ningbo Zhenyu Technology's short-term funding position and balance-sheet resilience show a mixed picture: current assets are marginally above short-term obligations, operating cash generation is positive, but capital spending has driven free cash flow negative. Key indicators and implications follow.
- Current ratio: 1.15 - sufficient coverage of short-term liabilities but limited cushion versus deterioration.
- Quick ratio: 0.94 - below the 1.0 threshold, indicating tighter liquid-asset coverage once inventories are excluded.
- Operating cash flow (TTM): 160.96 million CNY - positive cash generation from core operations.
- Free cash flow (TTM): -191.44 million CNY - capex exceeds operating cash, signalling investment-driven cash outflows or possible cash strain if prolonged.
- Altman Z-Score: 2.33 - moderate bankruptcy risk zone; not distressed but not in the "safe" zone (>2.99).
- Piotroski F-Score: 7 - strong operational and financial fundamentals based on profitability, leverage, and efficiency tests.
| Metric | Value | Interpretation |
|---|---|---|
| Current Ratio | 1.15 | Marginally adequate short-term liquidity |
| Quick Ratio | 0.94 | Potential liquidity concern excluding inventories |
| Operating Cash Flow (TTM) | 160.96 million CNY | Positive cash from operations |
| Free Cash Flow (TTM) | -191.44 million CNY | Capex > operating cash; negative free cash flow |
| Altman Z-Score | 2.33 | Moderate bankruptcy risk |
| Piotroski F-Score | 7 | Strong financial health signals |
For additional context on shareholder composition and investor activity that can influence liquidity access and solvency perceptions, see Exploring Ningbo Zhenyu Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Valuation Analysis
Ningbo Zhenyu Technology Co., Ltd. displays valuation metrics that signal the market is pricing in significant growth or scarcity of comparable earnings. Key headline figures (most recent available) include a trailing twelve months P/E of 63.37 and a market capitalization of 24.79 billion CNY as of November 19, 2025.- Trailing Twelve Months (TTM) P/E: 63.37 - elevated relative to typical market averages, implying high expectations for current earnings.
- Forward P/E: 56.63 - lower than TTM P/E, indicating analysts expect earnings to rise.
- Price-to-Book (P/B): 5.93 - market values net assets at a material premium to book value.
- Enterprise Value to Sales (EV/Sales): 3.25 - suggests the market pays 3.25× annual revenue on an enterprise basis.
- Enterprise Value to EBITDA (EV/EBITDA): 26.70 - a premium multiple versus many peers, indicating rich valuation on operating cash-flow terms.
- Market Capitalization: 24.79 billion CNY (19 Nov 2025) with P/S: 2.85 - moderate revenue valuation relative to market cap.
| Metric | Value | Implication |
|---|---|---|
| TTM P/E | 63.37 | High price per unit of reported earnings |
| Forward P/E | 56.63 | Market expects earnings growth |
| P/B | 5.93 | Premium to book equity |
| EV/Sales | 3.25 | Enterprise priced at 3.25× revenue |
| EV/EBITDA | 26.70 | High multiple on operating cash flow |
| Market Cap (19 Nov 2025) | 24.79 billion CNY | P/S = 2.85 |
- Relative positioning: P/E and EV/EBITDA rank the company in a premium segment versus broad-market averages; P/S and EV/Sales indicate moderate revenue valuation.
- Growth expectation: Forward P/E < TTM P/E suggests expected profit improvement, but current multiples imply limited margin for disappointment.
- Balance-sheet valuation: P/B near 6 signals investors value intangibles, brand, or superior ROE rather than just tangible equity.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Risk Factors
Ningbo Zhenyu Technology's recent financial profile shows several risk elements investors must weigh alongside its operational strengths. Key quantitative red flags and their implications are summarized below.- Debt-to-equity ratio: 97.54% - high leverage that increases vulnerability to rising interest rates or earnings shocks.
- Quick ratio: 0.94 - below the 1.0 benchmark, indicating possible short-term liquidity pressure to meet immediate obligations.
- Altman Z-Score: 2.33 - sits in the 'gray zone' of bankruptcy risk (moderate distress signal).
- Piotroski F-Score: 7 - a relatively strong operational/financial quality score that offsets some solvency worries.
- Free cash flow (2024): -191.44 million CNY - negative FCF suggests capex is exceeding operating cash generation, limiting financial flexibility.
- Revenue concentration: power lithium battery precision structural parts accounted for 59.48% of total revenue in 2024 - high exposure to one segment and its industry cycle.
| Metric | Value | Implication |
|---|---|---|
| Debt-to-Equity | 97.54% | Near 1:1 leverage; higher interest burden risk and reduced covenant headroom. |
| Quick Ratio | 0.94 | Less than ideal immediate liquidity; potential need for short-term financing or asset sales. |
| Altman Z-Score | 2.33 | Moderate bankruptcy risk - not safe, not imminent; warrants monitoring. |
| Piotroski F-Score | 7 | Solid fundamental quality; suggests improving profitability and balance-sheet indicators. |
| Free Cash Flow (2024) | -191.44 million CNY | Negative FCF due to capex > operating cash flow; constrains reinvestment or deleveraging. |
| Revenue Concentration (2024) | 59.48% | Significant dependence on power lithium battery precision structural parts segment; industry-specific downturn risk. |
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) - Growth Opportunities
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) demonstrates several clear growth vectors driven by new energy, robotics, and continued investor confidence. Key operational moves and financial metrics highlight where momentum is coming from and how the market is pricing future earnings.
- Power lithium battery precision structural parts: revenue increased by nearly 30% year‑over‑year, signaling strong end-market demand in new energy vehicles and energy storage.
- Robotics: achieved small‑batch supply and sampling of precision parts for humanoid robots, opening a high-margin, high-growth niche and validating technical capabilities for automation and robotics OEMs.
- Market capitalization: rose from 12.15 billion CNY in 2021 to 25.37 billion CNY, reflecting strong investor confidence and re‑rating of the business.
- TTM revenue (as of 2025‑09‑30): 8.71 billion CNY, a 28.84% year‑over‑year increase - evidence of sustained top‑line acceleration.
- Profitability and valuation: ROE of 14.15% indicates efficient equity deployment; EV/EBITDA of 26.70 implies the market is valuing the company at a premium to peers, likely on growth expectations.
| Metric | Value | Notes / Date |
|---|---|---|
| TTM Revenue | 8.71 billion CNY | As of 2025-09-30; +28.84% YoY |
| Market Capitalization | 25.37 billion CNY | Current; 12.15 billion CNY in 2021 |
| Revenue Growth - Power Lithium Battery Parts | ~30% YoY | Indicates strong demand from new energy sector |
| ROE | 14.15% | Return on equity |
| EV / EBITDA | 26.70 | Valuation premium |
| Robotics Supply Status | Small-batch supply & sampling | Humanoid robot precision parts - early commercialization |
Growth levers and strategic implications:
- Scale in new energy components: near‑term revenue expansion driven by battery structural parts; cross‑sell potential into adjacent EV component categories.
- Robotics and automation: successful sampling for humanoid robots creates a pathway to higher ASP (average selling price) parts and long‑term strategic partnerships.
- Investor re‑rating: doubling of market cap since 2021 suggests expectations of continued above‑market growth; current EV/EBITDA reflects premium for that expected trajectory.
- Profitability sustainability: ROE at 14.15% supports the view that growth is being converted into shareholder returns, though high valuation implies execution risk must remain low.
For details on the company's guiding principles and long‑term strategic positioning, see Mission Statement, Vision, & Core Values (2026) of Ningbo Zhenyu Technology Co., Ltd.
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