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Zhejiang Hailiang Co., Ltd. Class A

Zhejiang Hailiang Co., Ltd. Class A

SSZSE:002203
14.86
CNY
+0.56
(+3.92%)
52.37BMarket Cap
Oct 30Next Earn
Zhejiang Hailiang Co., Ltd. Class A
SZSE:002203
(Shenzhen Stock Exchange)

Recent

price

14.86

P/E

ratio

- -

div

yld

2.11%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
6.78
8.9
6.69
8.46
7.36
8.15
10.77
17.88
23.36
21.6
23.83
32.09
37.97
37.94
43.57
41.52
- -
Revenue per Share
0.18
0.17
0.15
0.19
0.3
0.27
0.33
0.42
0.52
0.56
0.35
0.56
0.62
0.56
0.35
0.47
- -
Basic EPS, GAAP
-0.18
-0.03
0.25
0.09
0.66
-0.14
0.29
-2.11
0.76
0.02
-0.05
-2.08
-0.87
-1.5
-1.78
-1.33
- -
Free Cash Flow per Basic Share
0.11
0.13
0.11
0.1
0.1
0.14
0.13
0.19
0.27
0.2
0.15
0.18
0.25
0.32
0.47
0.56
0.31
Dividend per Share
1.16
1.63
1.74
1.86
2.24
2.28
2.55
3.05
4.08
4.81
5.04
5.62
6.41
7.04
7.19
7.34
7.37
Book Value per Share
0.99
1.49
1.6
1.73
2.1
2.04
2.28
2.72
3.68
4.31
4.52
5.06
5.78
6.43
6.51
6.71
6.72
Tangible Book Value per Share
1,335
1,335
1,548
1,548
1,671
1,672
1,671
1,673
1,742
1,910
1,952
1,977
1,949
1,997
2,009
2,007
2,232
Basic Weighted Avg Shares
9,053
11,878
10,350
13,095
12,295
13,616
18,000
29,913
40,699
41,259
46,520
63,439
74,000
75,749
87,545
83,310
- -
Sales/Revenue/Turnover
1.98
1.27
2.21
1.79
3.83
3.33
4.56
3.04
3.4
3.55
1.52
2.53
2.56
2.57
1.81
2.07
- -
Operating Margin (%)
99
117
127
128
129
137
166
218
224
313
373
395
435
556
843
952
- -
Depreciation Expense
237
229
234
289
495
457
551
705
908
1,063
678
1,107
1,208
1,118
703
943
- -
Net Income, GAAP
7.35
5.42
5.49
9.71
8.97
5.14
18.36
7.45
13.6
13.05
21.81
21.57
18.58
15.45
7.16
18.91
- -
Effective Tax Rate (%)
2.62
1.93
2.26
2.2
4.03
3.35
3.06
2.36
2.23
2.58
1.46
1.75
1.63
1.48
0.8
1.13
- -
Profit Margin (%)
317
858
-278
58
- -
593
76
1,174
2,103
4,201
5,669
5,746
5,905
8,556
4,815
9,852
10,785
Working Capital
655
312
18
789
- -
1,131
344
1,445
526
2,828
4,729
4,602
6,207
8,248
4,889
6,698
7,275
LT Debt
1,561
2,536
2,694
2,885
3,470
4,133
4,649
5,522
8,335
9,763
10,214
11,716
13,377
16,839
16,948
19,408
19,618
Total Equity
5.22
4.38
4.26
5.37
7.68
6.04
6.66
6.88
6.8
6.31
3.81
5.3
4.82
3.71
1.51
2.46
- -
Return on Invested Capital (%)
8.59
7.5
6.29
6.58
9.08
7.48
8.88
9.07
9.46
7.9
4.5
6.09
5.9
4.84
3.84
3.51
- -
Return on Capital (%)
15.9
11.28
8.96
10.34
15.58
12.54
13.57
14.86
13.81
12.24
7.05
10.6
10.16
8.35
4.95
6.05
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
15,964
19,384
22,664
LT Borrowings
6,651
6,975
7,239
LT Finance Leases
47
43
36
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,292
2,292
2,292
Market Capitalization
29,014
31,855
52,367

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
31,159
35,362
37,491
Cash, Cash Equivalents & STI
6,040
4,718
4,547
Accounts Receivable, Net
9,293
12,327
11,765
Inventories
11,792
12,210
15,441
Total Current Liabilities
21,307
24,797
26,706
Payables & Accruals
- -
- -
- -
ST Debt
15,964
19,384
22,664
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.39%
13.98%
14.52%
Free Cash Flow
236.94%
829.6%
-25.43%
Net Income, GAAP
12.03%
12.41%
34.1%
Sales/Revenue/Turnover
21.47%
13.22%
-4.84%
Total Cash Common Dividend
20.78%
31.48%
19.29%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
21,852
22,181
24,088
19,424
87,545
2025
20,531
24,003
- -
18,293
83,310
2026
24,030
24,911
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
0.15
0.13
-0.09
0.35
2025
0.17
0.19
- -
0.01
0.47
2026
0.19
0.09
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
0.08
0.24
0.06
0.47
2025
0.07
0.07
- -
0.17
0.56
2026
0.07
0.08
- -
- -
- -
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Business
Zhejiang Hailiang Co Ltd (002203.SZ), founded in 2001 and headquartered in Zhuji City, Zhejiang Province, China, principally engages in the research, development, production, manufacturing and sales of copper and copper alloy products including seamless copper tubes for air conditioning and refrigeration, copper pancake coils, straight copper tubes, copper fittings, brass tubes, brass fittings, copper bars, copper bus bars, copper foil, copper pipe connectors, conductor materials and aluminum profiles; the company serves industries such as household appliances, automobiles, ships, electricity, new energy vehicles, energy storage, photovoltaics, wind power, semiconductors, 5G communications and construction with operations spanning China, the United States, Europe, Asia and other global markets through 19 production bases. In recent developments, the company reports record 2024 operating revenue of 87.387 billion yuan from sales of 1.0105 million metric tons of copper and copper alloy processed materials, advances copper foil production for solid-state batteries through its Gansu Hailiang subsidiary including joint R&D on nickel-plated, alloy, three-dimensional porous, double-sided rough and surface-coated variants with major battery firms targeting mass production in 2025, completes a 500 million yuan share repurchase program in May 2025, expands U.S. manufacturing capacity toward 100,000 tons annually at its Houston facility benefiting from trade tariffs, plans H-share issuance and listing on the Hong Kong Stock Exchange as announced in September 2025 to support global strategy, and maintains overseas revenue contribution of 41% with higher gross margins than domestic operations.