Hexing Electrical Co.,Ltd.

603556.SS

603556.SSHexing Electrical Co.,Ltd. CN flag

Shanghai Stock Exchange

25.91

CNY

+0.18

(+0.70%)

1.91EPS

13.57P/E

12.60BMarket Cap

Aug 19Next Earn

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ISIN

CNE100002GS0

Return %

Stock

S&P500

-38.49

10.14

59.84

62.89

78.08

93.94

Use logarithmic scale

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	3.6	4.51	4.7	5.5	5.8	6.24	5.26	6.08	5.71	5.49	6.78	8.64	9.7	9.46
Basic EPS, GAAP	0.7	0.78	0.97	1.19	1.36	1.16	0.68	1.03	0.98	0.64	1.36	2.02	2.06	1.91
Free Cash Flow per Basic Share	0.24	0.4	0.73	0.98	1.04	0.55	-0.28	0.73	0.46	0.11	1.07	1.8	1.44	-0.37
Dividend per Share	0.51	0.13	0.33	0.45	0.25	0.24	0.3	0.46	0.64	0.57	0.36	0.78	1.15	1.14
Book Value per Share	1.1	1.79	2.42	3.06	4.28	4.21	4.82	5.39	5.69	5.85	6.96	8.32	9.27	9.56
Tangible Book Value per Share	1.9	2.49	3.28	4.04	10.79	9.3	9.75	10.44	10.62	10.78	11.84	13.25	14.31	14.6
Basic Weighted Avg Shares	365	363	365	364	373	485	485	486	491	490	488	486	486	486
Sales/Revenue/Turnover	1,313	1,638	1,719	2,000	2,164	3,025	2,553	2,954	2,806	2,691	3,310	4,200	4,717	4,600
Operating Margin (%)	23.72	23.27	23.01	25.19	22.12	26.48	16.59	14.52	13.99	9.23	19.5	25.25	25.88	23.95
Depreciation Expense	16	22	23	25	26	34	45	61	65	59	61	68	84	- -
Net Income, GAAP	255	285	354	433	508	563	330	500	481	314	664	982	1,002	929
Effective Tax Rate (%)	14.85	17.63	12.9	15.88	13.56	16.54	13.2	14.49	10.09	11.82	11.99	14.38	16	15.7
Profit Margin (%)	19.44	17.41	20.6	21.67	23.48	18.6	12.92	16.94	17.15	11.66	20.07	23.39	21.24	20.2
Working Capital	604	798	1,051	1,237	3,825	4,219	3,739	4,207	4,453	4,585	5,245	5,001	3,955	3,469
LT Debt	88	88	114	102	204	167	136	381	55	395	437	222	127	113
Total Equity	746	1,046	1,342	1,601	4,186	4,682	4,902	5,247	5,393	5,456	5,975	6,633	7,139	7,279
Return on Invested Capital (%)	35.87	30.69	25.29	25.42	13.13	13.67	6.94	6.69	6.1	3.7	9.14	13.21	13.81	12.32
Return on Capital (%)	65	46.77	39.77	37.83	33.52	26.21	13.23	17.87	15.71	10.29	19.4	23.83	21.47	19.52
Return on Common Equity (%)	74.42	54.23	46.15	43.35	37.5	30.95	15.06	20.18	17.78	11.09	21.2	26.39	23.41	20.88

Capital Structure

•

in mil. unless spec.

Working Capital

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in mil. unless spec.

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)	10 years	5 years	1 year
Sales/Revenue/Turnover	11.76%	10.62%	12.3%
Net Income, GAAP	18.37%	24.59%	2%
Free Cash Flow	30.74%	161.64%	-20.09%
Total Cash Common Dividend	25.25%	30.84%	46.59%
Total Equity	23.65%	6.42%	7.63%

Growth Rates

•

in mil. unless spec.

Quarterly Revenue

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in mil. unless spec.

Quarterly Earnings Per Share

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in mil. unless spec.

Quarterly Dividends Per Share

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in mil. unless spec.

Company Description

CEO: Shiquan Zhang
Full Time Employees: 3,130
Sector: Industrials
Industry: Electrical Equipment & Parts
Address: Shangcheng Industrial Zone Hangzhou People's Republic of China 310011
IPO Date: Nov 10, 2016
Website: hxgroup.cn
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Business: Hexing Electrical Co., Ltd. provides electrical equipment and related solutions to power utilities worldwide. It offers string inverters; IEC and ANSI meters; communication modules; fault circuit indicators and DCU products; recloser and pole switches; ring main units; RMU enclosures; and cable junction boxes. The company also offers a range of solutions, such as advance metering infrastructure; ATC&C/boundary metering; CIS/billing; transaction platform; outage management system; integrated distribution management system; C&I metering; transformer monitoring system; vending system; SCADA system; substation automation system; and prefabricated substation. The company was founded in 1992 and is based in Hangzhou, China. Hexing Electrical Co.,Ltd operates as a subsidiary of Hexing Group Inc.

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	3.6	4.51	4.7	5.5	5.8	6.24	5.26	6.08	5.71	5.49	6.78	8.64	9.7	9.46
Basic EPS, GAAP	0.7	0.78	0.97	1.19	1.36	1.16	0.68	1.03	0.98	0.64	1.36	2.02	2.06	1.91
Free Cash Flow per Basic Share	0.24	0.4	0.73	0.98	1.04	0.55	-0.28	0.73	0.46	0.11	1.07	1.8	1.44	-0.37
Dividend per Share	0.51	0.13	0.33	0.45	0.25	0.24	0.3	0.46	0.64	0.57	0.36	0.78	1.15	1.14
Book Value per Share	1.1	1.79	2.42	3.06	4.28	4.21	4.82	5.39	5.69	5.85	6.96	8.32	9.27	9.56
Tangible Book Value per Share	1.9	2.49	3.28	4.04	10.79	9.3	9.75	10.44	10.62	10.78	11.84	13.25	14.31	14.6
Basic Weighted Avg Shares	365	363	365	364	373	485	485	486	491	490	488	486	486	486
Sales/Revenue/Turnover	1,313	1,638	1,719	2,000	2,164	3,025	2,553	2,954	2,806	2,691	3,310	4,200	4,717	4,600
Operating Margin (%)	23.72	23.27	23.01	25.19	22.12	26.48	16.59	14.52	13.99	9.23	19.5	25.25	25.88	23.95
Depreciation Expense	16	22	23	25	26	34	45	61	65	59	61	68	84	- -
Net Income, GAAP	255	285	354	433	508	563	330	500	481	314	664	982	1,002	929
Effective Tax Rate (%)	14.85	17.63	12.9	15.88	13.56	16.54	13.2	14.49	10.09	11.82	11.99	14.38	16	15.7
Profit Margin (%)	19.44	17.41	20.6	21.67	23.48	18.6	12.92	16.94	17.15	11.66	20.07	23.39	21.24	20.2
Working Capital	604	798	1,051	1,237	3,825	4,219	3,739	4,207	4,453	4,585	5,245	5,001	3,955	3,469
LT Debt	88	88	114	102	204	167	136	381	55	395	437	222	127	113
Total Equity	746	1,046	1,342	1,601	4,186	4,682	4,902	5,247	5,393	5,456	5,975	6,633	7,139	7,279
Return on Invested Capital (%)	35.87	30.69	25.29	25.42	13.13	13.67	6.94	6.69	6.1	3.7	9.14	13.21	13.81	12.32
Return on Capital (%)	65	46.77	39.77	37.83	33.52	26.21	13.23	17.87	15.71	10.29	19.4	23.83	21.47	19.52
Return on Common Equity (%)	74.42	54.23	46.15	43.35	37.5	30.95	15.06	20.18	17.78	11.09	21.2	26.39	23.41	20.88

	Sep'24	Dec'24	Mar'25
ST Debt	73	246	254
LT Borrowings	191	98	85
LT Finance Leases	27	29	27
Preferred Equity and Hybrid Capital	- -	- -	- -
Shares Outstanding	489	489	486
Market Capitalization	23,155	17,975	16,606

	Sep'24	Dec'24	Mar'25
Total Current Assets	5,448	6,129	5,581
Accounts Receivable, Net	1,116	1,307	1,229
Cash, Cash Equivalents & STI	2,999	3,040	2,599
Inventories	873	807	1,011
Total Current Liabilities	1,947	2,174	2,111
Payables & Accruals	- -	- -	- -
ST Debt	73	246	254
Deferred Revenue	- -	- -	- -

Year	Q1	Q2	Q3	Q4	FY
2023	793	1,085	994	1,328	4,200
2024	902	1,353	1,155	1,307	4,717
2025	784	- -	- -	- -	- -

Year	Q1	Q2	Q3	Q4	FY
2023	0.01	- -	- -	- -	0.78
2024	0.01	- -	- -	- -	1.15
2025	- -	- -	- -	- -	- -

Hexing Electrical Co.,Ltd.

Growth Rates

(avg. rate of change)

Company Description

Capital Structure

Working Capital

Growth Rates

(avg. rate of change)

Quarterly Revenue

Year

Quarterly Dividends Per Share

Year

Quarterly Earnings Per Share

Year