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    Industrial machinery
Zhejiang Double Arrow Rubber Co., Ltd. Class A

Zhejiang Double Arrow Rubber Co., Ltd. Class A

SSZSE:002381
5.32
CNY
+0.09
(+1.72%)
0.11EPS
45.72P/E
2.13BMarket Cap
Oct 27Next Earn
Zhejiang Double Arrow Rubber Co., Ltd. Class A
SZSE:002381
(Shenzhen Stock Exchange)

Recent

price

5.32

P/E

ratio

45.72

div

yld

6.12%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
2.54
3.22
3.39
3.21
3.14
2.68
2.59
2.63
3.21
3.68
4.42
4.64
5.75
6.33
6.54
6.55
6.43
Revenue per Share
0.11
0.11
0.29
0.41
0.38
0.3
0.13
0.26
0.37
0.6
0.77
0.36
0.28
0.59
0.37
0.16
0.11
Basic EPS, GAAP
-0.24
-0.04
-0.08
0.15
0.13
0.28
-0.08
0.12
0.29
0.48
0.57
-0.36
- -
-0.38
-0.4
0.24
- -
Free Cash Flow per Basic Share
0.01
0.05
0.08
0.1
0.13
0.2
0.23
0.11
0.1
0.4
0.3
0.5
0.21
0.21
0.26
0.22
0.33
Dividend per Share
2.47
2.53
2.75
3.06
3.31
3.41
3.78
3.95
3.99
4.32
4.78
4.64
4.77
5.16
5.27
5.23
5.17
Book Value per Share
2.42
2.48
2.67
2.98
3.23
3.33
3.3
3.88
3.93
4.26
4.62
4.25
4.26
4.67
4.77
4.75
4.7
Tangible Book Value per Share
325
356
349
353
351
356
415
433
423
414
410
413
406
410
415
408
416
Basic Weighted Avg Shares
825
1,146
1,183
1,133
1,102
954
1,072
1,138
1,358
1,525
1,811
1,916
2,335
2,593
2,713
2,675
2,674
Sales/Revenue/Turnover
4.16
3.33
11.01
14.75
13.57
11.86
4.24
5.17
12.78
18.36
20.14
8.47
7.49
11.05
8.32
6.31
4.83
Operating Margin (%)
21
24
31
37
42
51
63
55
47
47
60
73
87
98
113
121
- -
Depreciation Expense
37
38
102
144
133
107
54
113
156
249
315
149
114
242
154
65
47
Net Income, GAAP
16.71
13.85
20.57
20.46
17.69
18.36
35.99
17.14
18.26
17.34
16.95
18.09
22.76
15.53
14.28
25.48
4.74
Effective Tax Rate (%)
4.47
3.31
8.65
12.68
12.11
11.19
5.03
9.89
11.51
16.3
17.42
7.77
4.87
9.33
5.66
2.44
1.76
Profit Margin (%)
641
645
613
682
687
669
1,018
1,118
1,160
1,137
1,182
889
1,297
1,245
1,268
1,147
1,202
Working Capital
- -
- -
- -
- -
- -
- -
5
- -
- -
- -
34
36
541
579
616
588
574
LT Debt
881
905
985
1,109
1,193
1,226
1,782
1,696
1,707
1,770
1,978
1,919
1,974
2,136
2,179
2,161
2,148
Total Equity
4.49
3.41
10.85
12.9
10.53
8.03
1.69
5.69
8.88
14.32
16.8
7.46
5.02
9.34
5.74
2.24
1.54
Return on Invested Capital (%)
5.59
4.23
10.14
13.43
11.55
8.86
5.13
6.82
9.35
14.44
16.75
7.51
5.7
9.81
6.25
3.07
2.58
Return on Capital (%)
6.44
4.33
11.04
14.08
11.94
9.06
3.83
6.79
9.19
14.26
16.85
7.68
5.87
11.83
7.16
3.02
2.18
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
152
173
180
LT Borrowings
554
552
558
LT Finance Leases
33
36
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
412
412
412
Market Capitalization
2,712
2,704
2,132

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,181
2,226
2,303
Cash, Cash Equivalents & STI
569
574
589
Accounts Receivable, Net
894
885
916
Inventories
452
519
522
Total Current Liabilities
1,034
1,029
1,100
Payables & Accruals
- -
- -
- -
ST Debt
152
173
180
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.59%
1.85%
-0.86%
Free Cash Flow
-1,303.79%
-2,569.12%
-159.63%
Net Income, GAAP
12.63%
-11.55%
-57.48%
Sales/Revenue/Turnover
11.08%
8.39%
-1.4%
Total Cash Common Dividend
25.44%
4.1%
-15.77%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
544
730
660
779
2,713
2025
614
719
- -
714
2,675
2026
537
704
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
0.15
0.07
0.03
0.37
2025
0.06
0.04
- -
0.03
0.16
2026
0.04
- -
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.25
- -
- -
0.26
2025
0.01
0.2
- -
- -
0.22
2026
0.02
0.1
- -
- -
- -
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Business
Zhejiang Double Arrow Rubber Co., Ltd. (002381.SZ) manufactures and sells rubber conveyor belts in China and internationally; its core products include steel cord conveyor belts such as flame-resistant, high-temperature-resistant, anti-tear, low-rolling-resistance energy-saving, and steel cord pipe varieties; fabric conveyor belts encompassing flame-resistant fabric, straight warp, fabric pipe, high-temperature-resistant fabric, anti-tear fabric, oil-resistant fabric, cold-resistant fabric, acid-alkaline-resistant fabric, anti-adhesion, profiled, and sidewall types; solid woven conveyor belts; aramid belts; and ceramic conveyor belts including nylon canvas core, polyester canvas core, full core, and whole core varieties. The company, founded in 1986 and headquartered in Zhouquan Industrial Zone, Tongxiang, Zhejiang Province, China, operates with an annual production capacity exceeding 150 million square meters across facilities including a new Tiantai production base adding 60 million square meters annually for fabric core belts, serving coal mines, ports, electric power plants, metallurgy, mines, cement, and other industries with sales across five continents including North America, Europe, Asia, South America, and Africa. Recent developments encompass approval of a cash dividend for 2024 payable in May 2025, release of 2024 annual results showing revenue of CNY 2.713 billion albeit with net profit decline, expansion via the Tiantai base to boost market share amid domestic competition where it holds approximately 14% locally, a shareholder restructuring in December 2024 with Tongxiang Guotou transferring 5.10% shares to its subsidiary Runtong Holdings free of charge, and ventures into retirement services through wholly-owned subsidiary Tongxiang Heji Nursing Home Co., Ltd.