Zhejiang Dun'an Artificial Environment Co., Ltd. Class A

Zhejiang Dun'an Artificial Environment Co., Ltd. Class A

SSZSE:002011
10.39
CNY
-0.08
(-0.76%)
1.02EPS
10.20P/E
11.40BMarket Cap
Oct 27Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
7.63
7.85
7.13
6.32
8.97
10.24
9.71
8.05
10.68
11.14
10.8
12.01
12.33
13.55
Basic EPS, GAAP
0.25
0.15
0.1
0.09
0.1
-2.36
0.14
-1.09
0.44
0.91
0.7
0.99
1.02
1.04
Free Cash Flow per Basic Share
-1.36
-1
-0.16
-0.44
-0.28
-0.45
0.46
0.23
0.3
1.17
0.36
0.68
1.01
- -
Dividend per Share
0.24
0.4
0.28
0.21
0.3
0.26
0.22
0.2
0.15
0.12
0.05
0.05
0.02
0.02
Book Value per Share
4.01
4.14
4.39
4.85
4.79
2.41
2.6
1.49
1.89
3.45
4.18
5.17
6.2
6.52
Tangible Book Value per Share
1.38
0.01
-0.14
0.44
0.27
-0.7
1.43
1.26
1.67
3.28
4.02
4.68
5.75
6.05
Basic Weighted Avg Shares
848
841
821
922
923
918
938
917
921
916
1,054
1,055
1,057
1,051
Sales/Revenue/Turnover
6,467
6,601
5,859
5,830
8,279
9,401
9,104
7,381
9,837
10,209
11,382
12,678
13,035
14,251
Operating Margin (%)
3.94
4.15
2.66
2.19
4.35
-1.2
5.84
5.54
6.96
7.65
9.7
9.21
9.34
9.24
Depreciation Expense
191
222
292
312
352
384
337
234
204
236
241
255
233
- -
Net Income, GAAP
212
126
82
83
92
-2,167
131
-1,000
405
834
738
1,045
1,078
1,094
Effective Tax Rate (%)
30.94
33
17.92
44.1
35.73
- -
78.81
- -
11.65
10.19
14.46
10.97
12.09
11.4
Profit Margin (%)
3.28
1.91
1.4
1.42
1.11
-23.05
1.44
-13.55
4.12
8.17
6.48
8.24
8.27
7.68
Working Capital
1,281
-539
-1,157
-1,160
-455
186
1,452
-190
504
2,192
3,285
3,491
4,778
4,992
LT Debt
1,591
1,491
1,277
270
625
1,914
1,494
138
671
389
790
338
490
499
Total Equity
3,420
3,531
3,731
4,525
4,446
2,123
2,210
1,276
1,636
3,544
4,386
5,512
6,659
6,994
Return on Invested Capital (%)
2.24
1.05
-0.09
0.52
0.53
- -
0.47
- -
9.89
10.99
14.97
16.01
14.81
14.45
Return on Capital (%)
6.36
4.22
4.09
2.57
3.19
- -
4.82
- -
11.48
20.99
14.54
16.82
15.57
15.03
Return on Common Equity (%)
6.43
3.67
2.28
2.04
2.09
-65.58
5.72
-53.35
26.14
30.98
18.3
21.05
17.71
17.19

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
243
245
248
LT Borrowings
485
485
485
LT Finance Leases
5
20
14
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,075
1,075
1,075
Market Capitalization
13,627
12,627
11,402

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
9,795
9,798
10,978
Cash, Cash Equivalents & STI
3,472
3,404
3,623
Accounts Receivable, Net
2,424
2,384
2,980
Inventories
1,335
1,840
1,688
Total Current Liabilities
5,017
4,924
5,987
Payables & Accruals
- -
- -
- -
ST Debt
243
245
248
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.43%
43.02%
20.81%
Free Cash Flow
36.68%
79.43%
48.95%
Net Income, GAAP
-340.48%
-0.31%
3.16%
Sales/Revenue/Turnover
9.57%
12.55%
2.81%
Total Cash Common Dividend
-16.76%
-31.87%
-51.82%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,626
3,720
2,990
3,343
12,678
2025
3,021
3,708
- -
3,312
13,035
2026
3,057
4,174
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.2
0.25
0.17
0.37
0.99
2025
0.21
0.3
- -
0.29
1.02
2026
0.19
0.26
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.01
0.01
0.01
0.05
2025
0.01
- -
- -
- -
0.02
2026
- -
- -
- -
- -
- -

Company Description

CEO
Jian Jun Li
Full Time Employees
12,631
Sector
Producer manufacturing
Industry
Industrial machinery
Address
Dun'an Development Building Hangzhou ZH China 310052
IPO Date
Jul 5, 2004
Website
dunan.net
Business
Zhejiang Dun'an Artificial Environment Co., Ltd engages in the research, development, production, and sale of refrigeration components and systems primarily for residential and commercial air conditioning, refrigeration, heat pumps, cold storage, and new energy vehicle thermal management. Its main product portfolio includes refrigeration accessories such as electronic expansion valves, four-way valves, globe valves, solenoid valves, small pressure vessels, heat exchangers, integrated pipeline components, and related equipment. The company also manufactures commercial air conditioning systems, special air conditioning equipment for nuclear power plants, clean rooms, data centers, transportation, and cold chain equipment. Established in 2004 and headquartered in Zhuji City, Zhejiang Province, China, Dun'an operates manufacturing sites and sales subsidiaries in China and internationally, including Thailand, Japan, Germany, and South Korea. In recent years, Zhejiang Dun'an has expanded its footprint in automotive thermal management systems and new energy vehicle HVAC components. A major recent development includes the acquisition of a 62.95% stake in Shanghai Datro Automotive Technology Co., Ltd, enhancing its capabilities and market presence in automotive HVAC technology. The company has also focused on intelligent manufacturing and technological innovation to improve energy efficiency and optimize environmental impacts. Its financial performance has strengthened, supported by increased orders especially from leading appliance manufacturers such as Gree, with international revenue growth, particularly in US dollar-denominated orders rebounding sharply in 2024. Dun'an also continues to promote smart manufacturing initiatives and product upgrades, emphasizing its strategic shift toward high-efficiency and technologically advanced HVAC solutions. Zhejiang Dun'an is recognized as a national key high-tech enterprise in China and contributes to drafting national standards for central air conditioning. It has acquired multiple certifications such as ISO9001 for quality management, ISO14001 for environmental management, and CCC product certification. The company is publicly traded on the Shenzhen Stock Exchange under the ticker 002011.SZ, and it maintains a strong commitment to innovation, quality, and environmental sustainability within the refrigeration and air-conditioning industry globally. This positions Zhejiang Dun'an as a comprehensive provider of refrigeration and HVAC components, systems, and solutions with an increasing emphasis on smart technology and automotive applications.