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    Producer manufacturing

  3. •

    Electrical products
Guangzhou Zhiguang Electric Co., Ltd. Class A

Guangzhou Zhiguang Electric Co., Ltd. Class A

SSZSE:002169
9.55
CNY
+0.14
(+1.49%)
0.40EPS
53.46P/E
11.46BMarket Cap
Guangzhou Zhiguang Electric Co., Ltd. Class A
SZSE:002169
(Shenzhen Stock Exchange)

Recent

price

9.55

P/E

ratio

53.46

div

yld

1.95%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
0.92
0.96
0.74
1.06
1.74
2.14
2.08
2.33
3.43
3.52
2.82
2.45
3.05
3.55
3.37
4.95
5.89
Revenue per Share
0.08
0.05
-0.09
0.04
0.08
0.18
0.17
0.16
0.1
0.16
0.32
0.44
0.05
-0.2
-0.42
0.18
0.27
Basic EPS, GAAP
-0.21
-0.28
-0.14
-0.16
-0.36
0.04
-0.29
-0.3
-0.45
0.19
0.46
-0.11
0.03
-1.2
-1.19
-0.39
- -
Free Cash Flow per Basic Share
0.02
0.04
0.03
0.05
0.13
0.14
0.12
0.14
0.11
0.18
0.13
0.16
0.17
0.16
0.2
0.18
0.19
Dividend per Share
1.05
1.1
1.02
1.06
1.46
1.82
3.45
3.52
3.57
3.53
3.87
4.14
4.21
3.91
3.44
3.64
3.58
Book Value per Share
0.94
0.97
0.9
0.95
1.27
1.65
3.27
3.32
3.34
2.72
3.03
3.46
3.63
2.98
2.5
3.06
3.03
Tangible Book Value per Share
503
533
533
533
607
611
671
788
788
725
760
770
770
770
771
773
776
Basic Weighted Avg Shares
461
514
396
564
1,057
1,307
1,398
1,831
2,703
2,554
2,143
1,889
2,352
2,734
2,596
3,822
4,570
Sales/Revenue/Turnover
12.01
6.96
-9.01
12.39
10.71
12.66
11.58
11.67
8.21
5.97
5.74
-8.35
-7.7
0.59
-3.99
3.36
5.16
Operating Margin (%)
12
13
21
40
63
141
154
181
179
197
175
170
160
154
182
202
- -
Depreciation Expense
41
27
-50
20
50
108
111
125
79
113
240
336
42
-157
-326
136
213
Net Income, GAAP
9.17
11.53
- -
24.04
4.97
10.19
6.88
19.91
23.73
7.5
11.96
17.5
61.24
- -
- -
9.33
9.04
Effective Tax Rate (%)
8.92
5.17
-12.52
3.58
4.75
8.26
7.97
6.83
2.92
4.41
11.19
17.78
1.8
-5.74
-12.58
3.55
4.65
Profit Margin (%)
378
368
489
435
396
492
1,441
1,475
1,825
1,275
1,037
514
319
-269
-19
-948
-395
Working Capital
38
13
273
297
448
358
- -
35
593
559
357
347
46
455
924
1,391
2,016
LT Debt
569
622
620
645
1,014
1,283
2,927
3,020
3,065
3,016
3,312
3,353
3,428
3,304
2,937
3,164
3,149
Total Equity
5.04
0.86
- -
1.43
2.64
4.59
3.93
4.76
2.48
2.31
5.81
7.15
0.62
- -
- -
3.92
4.82
Return on Invested Capital (%)
8.17
4.51
- -
3.43
4.12
6.06
4.23
3.43
2.95
4.71
7.01
9.92
1.55
- -
- -
2.8
3.48
Return on Capital (%)
9.09
4.63
-8.78
3.65
7.49
11.21
5.76
4.56
2.83
4.02
8.23
10.65
1.29
-4.91
-11.3
4.89
7.75
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,976
2,448
2,521
LT Borrowings
1,380
1,518
2,006
LT Finance Leases
11
11
10
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
783
783
783
Market Capitalization
9,056
11,138
11,459

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,125
4,605
5,003
Cash, Cash Equivalents & STI
539
642
805
Accounts Receivable, Net
1,449
1,660
1,768
Inventories
954
1,129
1,298
Total Current Liabilities
5,073
5,474
5,398
Payables & Accruals
- -
- -
- -
ST Debt
1,976
2,448
2,521
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.75%
-0.7%
7.76%
Free Cash Flow
-473.37%
-772.03%
-67.29%
Net Income, GAAP
-41.77%
-110.39%
-141.51%
Sales/Revenue/Turnover
13.51%
14.22%
47.25%
Total Cash Common Dividend
7.82%
8.65%
-7.77%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
527
721
651
697
2,596
2025
657
986
- -
1,315
3,822
2026
1,040
1,228
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.08
-0.04
-0.07
-0.24
-0.42
2025
-0.05
-0.02
- -
0.24
0.18
2026
0.03
0.03
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.02
0.12
0.03
0.2
2025
0.02
0.03
- -
0.03
0.18
2026
0.03
0.11
- -
- -
- -
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Business
Guangzhou Zhiguang Electric Co., Ltd. Guangzhou Zhiguang Electric Co., Ltd. (002169.SZ) engages primarily in the research, development, production, and sales of digital energy technology products and comprehensive energy services in China and internationally. Founded in 1999 and headquartered in Guangzhou, China, the company offers core products including battery energy storage systems (BESS), power conversion systems (PCS), battery packs, battery management systems (BMS), energy management systems (EMS), hybrid inverters, uninterruptible power supplies (UPS), super charging stations, high-voltage inverters, reactive power compensation equipment, distribution network neutral point grounding devices, power cables, integrated microgrids, and optical storage-charging solutions; these span residential systems with 5kW-10kW power and 5-30kWh storage, commercial/industrial units from 100kW-2MW power and 200kWh-4MWh storage, and utility-scale BESS integrated with transformers, switchgear, liquid-cooling packs, and fire protection for solar, grid, and microgrid applications, serving markets in Europe, the US, emerging regions, and domestically with TUV and UL certifications. Geographically, operations focus on China with exports to Europe and North America, targeting utilities, renewables, industrial, commercial, and residential customers through wholly-owned and holding subsidiaries. Recent developments include its controlling subsidiary Zhiguang Energy Storage signing a 164 million yuan contract in September 2025 for high-voltage cascaded semi-solid-state LFP energy storage systems with China Energy Engineering Group Guangdong Electric Power Design and Research Institute; plans announced in October 2025 to acquire minority stakes in subsidiary Guangzhou Zhiguang Energy Storage Technology Co., Ltd. via share issuance and cash while raising supporting funds; and participation in Spain's Genera 2025 expo in November to expand European energy storage partnerships.