Vatti Corp. Ltd. Class A

Vatti Corp. Ltd. Class A

SSZSE:002035
4.40
CNY
+0.01
(+0.23%)
0.35EPS
13.22P/E
3.83BMarket Cap
Oct 29Next 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
4.28
4.89
4.33
5.1
6.6
6.94
6.55
5.02
6.47
6.86
7.35
7.65
6.8
6.61
Basic EPS, GAAP
0.26
0.33
0.24
0.38
0.59
0.77
0.85
0.47
0.24
0.17
0.53
0.58
0.36
0.34
Free Cash Flow per Basic Share
0.24
0.26
0.27
0.91
0.34
0.52
0.6
-0.35
0.23
0.21
1.04
0.47
0.35
- -
Dividend per Share
0.08
0.07
0.17
0.17
0.13
0.22
0.29
0.35
0.15
0.11
0.11
0.3
0.3
0.5
Book Value per Share
1.44
1.7
1.77
1.99
2.51
2.94
3.45
3.64
3.83
3.89
4.3
4.46
4.52
4.53
Tangible Book Value per Share
1.15
1.41
1.49
1.72
2.25
2.6
3.09
3.29
3.47
3.54
3.8
3.97
4.04
4.04
Basic Weighted Avg Shares
866
865
860
861
868
878
878
869
864
848
848
833
831
831
Sales/Revenue/Turnover
3,709
4,230
3,720
4,395
5,731
6,095
5,748
4,360
5,588
5,819
6,233
6,372
5,648
5,491
Operating Margin (%)
6.84
7.12
5.68
8.2
10.36
13.28
14.54
11.03
8.72
7.1
9.99
8.31
6.34
6.22
Depreciation Expense
46
51
53
52
49
47
49
49
57
81
96
102
104
- -
Net Income, GAAP
224
281
208
328
510
677
748
408
207
143
447
485
301
284
Effective Tax Rate (%)
17.21
16.07
15.57
14.45
15.23
14.28
9.92
11.11
6.74
- -
9.6
9.85
16.21
16.37
Profit Margin (%)
6.04
6.65
5.58
7.45
8.89
11.11
13.01
9.35
3.71
2.46
7.17
7.61
5.33
5.17
Working Capital
304
490
519
764
1,202
1,502
1,736
1,712
1,511
1,487
1,555
1,657
1,694
1,745
LT Debt
- -
- -
- -
- -
- -
- -
- -
6
3
53
1
24
35
98
Total Equity
1,272
1,502
1,571
1,795
2,262
2,675
3,117
3,234
3,337
3,405
3,690
3,824
3,874
3,889
Return on Invested Capital (%)
17.72
17.93
11.91
19.17
25.63
27.36
25.65
13.09
6.68
- -
14.5
15.09
9.08
7.17
Return on Capital (%)
18.48
19.38
12.65
18.61
24.11
26.91
25.34
12.39
6.02
- -
12.22
12.77
7.73
6.93
Return on Common Equity (%)
20.08
20.79
13.9
20.08
25.98
28.34
26.72
13.22
6.47
4.37
12.88
13.06
7.91
7.36

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
63
63
66
LT Borrowings
34
53
97
LT Finance Leases
1
1
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
848
848
848
Market Capitalization
5,255
5,679
3,831

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,845
4,532
4,218
Cash, Cash Equivalents & STI
3,119
2,747
2,566
Accounts Receivable, Net
608
826
777
Inventories
700
700
664
Total Current Liabilities
3,151
2,783
2,473
Payables & Accruals
- -
- -
- -
ST Debt
63
63
66
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.73%
3.71%
1.32%
Free Cash Flow
23.56%
29.47%
-25.36%
Net Income, GAAP
21.4%
20.57%
-37.9%
Sales/Revenue/Turnover
5.53%
6.05%
-11.36%
Total Cash Common Dividend
19.65%
18.83%
-0.04%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,381
1,720
1,475
1,796
6,372
2025
1,260
1,540
- -
1,490
5,648
2026
1,186
1,275
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.21
0.13
0.1
0.58
2025
0.13
0.2
- -
-0.07
0.36
2026
0.12
0.09
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.3
- -
- -
0.3
2025
- -
0.3
- -
- -
0.3
2026
0.1
0.1
- -
- -
- -

Company Description

CEO
Ye Jiang Pan
Full Time Employees
6,674
Sector
Consumer durables
Industry
Electronics/Appliances
Address
Industrial Avenue Zhongshan GD China 528416
IPO Date
Sep 1, 2004
Business
Vatti Corporation Limited, founded in 1992 and headquartered in Zhongshan, Guangdong Province, China, is a leading manufacturer and seller of kitchen and household appliances. The company’s core product portfolio includes kitchen appliances such as gas stoves, range hoods, built-in ovens, built-in hobs, dishwashers, sterilizers, integrated steaming and baking units, and integrated stoves, complemented by home furnishing products like cabinets, wardrobes, and bathroom cabinets. Vatti also produces water heaters and related heating equipment. The company operates primarily in the domestic Chinese market but has expanded its presence internationally to regions including Southeast Asia, Europe, and North America. Vatti positions itself strongly in both offline retail and e-commerce platforms such as JD.com, Tmall Premium, and Suning Retail Cloud. In recent years, Vatti Corporation has emphasized innovation and quality, investing heavily in research and development—around 6% of its revenue—to develop technologically advanced products, including smart kitchen appliances and the Huadi and Vantage brands, which have received multiple industry awards for innovation and quality. In 2023 and 2024, the company garnered top industry honors such as the “2023 Top 500 Asia Brands,” “2023 China Brand Innovation Enterprise of the Year,” and several product-specific awards for range hoods and integrated cooking centers. Operationally, Vatti has maintained steady revenue growth with a diversified revenue base: kitchen appliances constitute approximately 60% of sales, heating equipment around 30%, and other products the remaining share. Major recent changes include strategic expansion in new retail channels with enhanced online presence through partnerships with key e-commerce platforms, development of specialty stores, and increased focus on the high-end cooking appliance segment. Despite a challenging market environment with some revenue fluctuations reported in 2025, the company continues to innovate with product launches that emphasize easy-clean technologies, fast suction for range hoods, and integrated kitchen solutions, supporting its leadership in the competitive home appliance industry. Vatti maintains a comprehensive approach combining manufacturing excellence, technological innovation, and multi-channel distribution to sustain its market position domestically and internationally.