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    Industrials

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    Electrical Equipment & Parts
Hexing Electrical Co.,Ltd.

Hexing Electrical Co.,Ltd.

603556.SS
Hexing Electrical Co.,Ltd.CN flagShanghai Stock Exchange
21.37
CNY
-1.54
- -
10.39BMarket Cap
Hexing Electrical Co.,Ltd.
603556.SS
(Shanghai Stock Exchange)

Recent

price

21.37

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
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
9.88
9.02
Revenue per Share
- -
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
1.51
1.78
Basic EPS, GAAP
- -
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
0.59
-0.39
Free Cash Flow per Basic 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
0.72
0.74
Dividend 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
10.16
9.41
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
14.83
14.25
Tangible Book Value per Share
- -
365
363
365
364
373
485
485
486
491
490
488
486
486
483
486
Basic Weighted Avg Shares
1,092
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
4,769
4,386
Sales/Revenue/Turnover
23.77
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
15.54
22.37
Operating Margin (%)
12
16
22
23
25
26
34
45
61
65
59
61
68
84
93
- -
Depreciation Expense
196
255
285
354
433
508
563
330
500
481
314
664
982
1,002
729
865
Net Income, GAAP
15.82
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
12.2
14.1
Effective Tax Rate (%)
17.94
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
15.29
19.72
Profit Margin (%)
405
604
798
1,051
1,237
3,825
4,219
3,739
4,207
4,453
4,585
5,245
5,001
3,955
4,192
3,523
Working Capital
- -
88
88
114
102
204
167
136
381
55
395
437
222
127
23
112
LT Debt
550
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
7,399
7,107
Total Equity
- -
35.87
30.69
25.29
25.42
13.13
13.67
6.94
6.69
6.1
3.7
9.14
13.21
13.88
8.53
11.56
Return on Invested 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
14.62
18.8
Return on Capital (%)
- -
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
15.48
20.11
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
246
254
178
LT Borrowings
98
85
84
LT Finance Leases
29
27
28
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
489
486
486
Market Capitalization
17,975
16,606
12,382

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
6,129
5,581
5,694
Cash, Cash Equivalents & STI
3,040
2,599
1,809
Accounts Receivable, Net
1,307
1,229
1,329
Inventories
807
1,011
1,224
Total Current Liabilities
2,174
2,111
2,171
Payables & Accruals
- -
- -
- -
ST Debt
246
254
178
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
22.08%
6.59%
3.64%
Free Cash Flow
21.41%
156.9%
-59.32%
Net Income, GAAP
13.4%
19.91%
-27.24%
Sales/Revenue/Turnover
10.23%
11.84%
1.09%
Total Cash Common Dividend
17.64%
15.14%
-37.85%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
902
1,353
1,155
1,307
4,717
2025
784
1,139
1,400
- -
4,769
2026
1,126
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.44
- -
- -
- -
2.06
2025
0.29
- -
- -
- -
1.51
2026
0.19
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
1.15
2025
- -
- -
- -
- -
0.72
2026
- -
- -
- -
- -
- -
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Business
Hexing Electrical Co., Ltd. (603556.SS) manufactures and sells smart electrical equipment and solutions for power utilities worldwide. Founded in 1992 and headquartered in Hangzhou, China, the company offers smart electric energy meters, intelligent electricity terminals, intelligent ultrasonic water meters, smart gateways, intelligent centralized meter boxes, communication modules, power distribution primary and secondary fusion equipment, power distribution automation terminals, ring network cabinets/boxes, column switches, single/three-phase polymerizers, high and low voltage complete equipment, box-type substations, new energy grid boxes/cabinets, junction boxes, microgrid coordination control terminals, string inverters, charging stations, and industrial and commercial energy storage services; it also provides advanced metering infrastructure, ATC&C/boundary metering, CIS/billing systems, integrated distribution management systems, transformer monitoring systems, vending systems, SCADA systems, substation automation systems, prefabricated substations, energy management systems, big data acquisition and monitoring software, and operation and maintenance services. Hexing operates in over 110 countries across Asia, Europe, the Americas, Africa, and other regions, with subsidiaries and offices in locations including Peru, Brazil, Senegal, Nigeria, Kenya, South Africa, Pakistan, Indonesia, and Argentina, serving power utilities, distributed generation sectors, smart water metering, and smart grid applications. The company, a subsidiary of Hexing Group Inc., listed on the Shanghai Stock Exchange main board in 2016 and maintains a focus on green energy, investing significantly in R&D (approximately 12% of revenue in recent years) while expanding its portfolio in new energy products like inverters, charging piles, and energy storage batteries. Recent developments include recognition as a Zhejiang Smart Factory, Zhejiang Green and Low-carbon Factory, and Zhejiang Industrial Internet Platform, alongside ongoing global operations enhancements through distributed power station system integration solutions such as microgrids, optical storage charging, and integrated energy management.