Changqing Machinery Company Limited

¥10.30As of Sun 8 Nov 2026, 12:00 UTC

SSE:603768Consumer Disc

Country China

PE (Fwd) •••

TSR 10Y CAGR (12.18%)

Div yield —

ROE (5.07%)

Auto Parts

Beta (5Y) 0.37

PE TTM —

TSR TTM (16.12%)

Mkt cap ¥2.426B

ROIC 0.45%

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

¥13

24.78%

(82.27%)

Hold 6|5|6|4|8

TTM

FYE 31 Dec CNY

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

5Y

10Y

Peers

366.9

Revenue¥M

378.1

397.1

419.4

445.3

469.6

481.3

513.1

528.0

564.3

596.9

382.3

4.91%

5.14%

90

5.66

Revenue growth%

16.72

19.67

21.76

24.01

22.83

24.74

27.03

27.56

26.10

28.44

23.65

27.03

24.37

12

9.03

Gross margin%

11.26

13.56

11.42

8.59

9.67

9.44

11.60

9.29

10.90

10.02

7.80

10.02

10.46

39

26.82

Operating margin%

8.40

7.34

6.05

3.24

4.43

4.43

2.41

2.85

5.12

2.90

19.13

2.90

4.43

80

11.60

Net margin%

22.06

19.23

20.17

18.86

20.27

22.52

24.33

26.63

26.83

29.05

27.56

26.63

22.29

56

12.58

P/E ratio (avg)x

24.94

26.65

29.86

33.90

38.03

44.40

52.68

52.73

60.38

64.85

23.75

52.73

41.21

51

25.99

EV/EBITx

18.51

16.77

16.21

15.54

15.45

14.05

14.46

15.57

14.57

14.40

12.86

14.46

15.49

81

15.27

FCF yield (avg)%

6.78

9.31

8.14

7.64

7.89

5.52

4.09

2.82

3.95

5.41

7.22

4.09

6.15

55

26.94

FCF margin%

11.90

10.19

9.38

11.75

11.09

13.46

12.41

13.72

14.33

16.92

5.97

13.72

12.15

38

0.294

FCF / Net incomex

1.819

2.114

2.269

2.645

2.890

3.119

3.367

3.460

3.939

4.103

0.277

3.460

3.005

48

13.37

ROIC%

6.66

9.14

11.78

13.12

10.56

8.50

6.57

7.31

5.11

7.09

26.67

7.09

7.90

57

13.23

Return on equity%

26.28

24.26

23.21

23.28

25.47

24.86

22.92

22.25

24.46

26.09

19.22

24.46

24.36

93

25.75

Return on assets%

11.46

10.86

13.74

13.18

14.74

13.90

15.37

13.92

12.59

10.49

13.58

13.90

13.46

60

0.98

EPS¥

0.28

0.28

0.25

0.23

0.21

0.19

0.17

0.18

0.18

0.17

1.05

(4.33%)

(4.74%)

—

18.96

EPS growth%

20.54

18.81

21.67

19.02

20.25

17.36

18.58

18.62

18.57

18.72

4.10

18.58

18.77

8

0.17

Bookvalue per sh¥

0.61

0.67

0.78

0.74

0.74

0.73

0.80

0.79

0.93

0.91

0.97

4.33%

4.05%

—

0.27

FCF per share¥

1.02

1.18

1.34

1.44

1.45

1.56

1.70

1.66

1.88

2.07

0.31

7.34%

6.87%

—

0.81

Dividend per sh¥

0.93

0.94

0.97

0.85

0.81

0.75

0.68

0.74

0.67

0.63

0.52

(4.98%)

(3.23%)

—

9.85

Div yield (avg)%

18.54

21.15

20.91

21.58

24.42

24.29

23.07

21.74

22.45

23.64

11.63

23.07

22.10

69

16.86

Payout ratio%

13.89

16.41

15.99

15.86

13.38

12.05

13.02

11.02

8.66

5.68

7.17

11.02

13.20

32

239.2

Shares (diluted)M

410.1

393.5

410.9

452.2

436.7

483.2

557.0

634.8

653.9

748.8

235.9

11.39%

7.51%

92

26.13

Buyback yield%

16.44

15.29

14.39

13.23

14.18

12.81

11.40

10.45

10.94

8.88

28.70

10.94

13.02

84

1.137

D/E ratiox

1.252

1.378

1.493

1.456

1.731

1.814

1.910

2.128

2.207

2.200

1.343

2.128

1.773

49

82.23

Enterprise value¥M

158.8

151.5

143.6

152.0

159.8

173.9

163.7

169.3

163.3

167.4

404.1

0.94%

1.80%

63

264.7

LT debt¥M

80.71

69.15

74.82

73.72

65.26

63.34

58.39

56.64

48.38

42.79

432.6

(8.10%)

(6.40%)

93

Peers (US$363.6M)

Cap (US$)

PE

Shanghai Mobitech…

366.1M

16.11x

Zhejiang Yueling Co.…

364.4M

—

ADD Industry (Zhejiang…

357.9M

—

Rane (Madras) Limited

367.9M

8.142x

Capital

TTM

5Y

10Y

Leveragex

4.692

0.217

0.196

EBIT/Intx

0.321

0.580

0.482

Own earn%

40.18

(29.08)

(30.56)

Sh yield%

35.98

33.39

34.89

Owners

Insiders/Inst%

5.33

88.98

Short interest%

0.89

SBC / revenue%

0.43

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

15

Op margin range%

2–8

$1 testx

—

Incr. ROIC%

22

Changqing Machinery Company Limited produces and sells stamping and welding parts for automobile parts in China.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥596.9M

5.14%

1.00×

Cost of revenue

¥327.4M

5.30%

1.02×

Operating expenses

¥70.20M

4.89%

0.98×