1. China Stocks

  2. •

    Producer manufacturing

  3. •

    Electrical products
Changgao Electric Group Co. Ltd. Class A

Changgao Electric Group Co. Ltd. Class A

SSZSE:002452
9.88
CNY
+0.29
(+3.02%)
1.27EPS
9.85P/E
7.92BMarket Cap
Oct 26Next Earn
Changgao Electric Group Co. Ltd. Class A
SZSE:002452
(Shenzhen Stock Exchange)

Recent

price

9.88

P/E

ratio

9.85

div

yld

2.09%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
0.69
0.67
0.79
0.95
0.91
1.27
2.46
2.67
1.99
2.19
2.94
2.71
1.97
2.41
2.84
2.68
2.64
Revenue per Share
0.1
0.1
0.11
0.15
0.17
0.13
0.23
0.11
-0.47
0.26
0.4
0.45
0.09
0.28
0.41
0.55
1.3
Basic EPS, GAAP
-0.01
-0.17
-0.18
- -
0.08
-0.39
0.25
0.56
-0.16
-0.27
-0.6
0.55
0.17
0.3
0.45
0.48
- -
Free Cash Flow per Basic Share
0.04
0.02
0.03
0.06
0.02
0.05
0.08
0.05
0.05
0.02
0.12
0.11
0.08
0.03
0.08
0.12
0.21
Dividend per Share
1.84
1.92
1.99
2.09
2.24
2.32
2.5
2.59
2.1
2.35
2.72
3.36
3.38
3.64
3.88
4.37
5.07
Book Value per Share
1.74
1.74
1.83
1.93
2.09
2.18
1.83
1.92
1.78
1.89
2.28
3
3.06
3.36
3.58
4.07
4.77
Tangible Book Value per Share
444
520
520
523
526
524
526
530
529
529
531
562
620
620
620
620
612
Basic Weighted Avg Shares
304
349
411
496
478
664
1,293
1,416
1,053
1,159
1,562
1,521
1,223
1,493
1,760
1,665
1,618
Sales/Revenue/Turnover
17.2
14.12
15.92
19.12
20.05
13.45
12.22
7.78
1
13.2
20.72
17.79
12.43
16.17
18.9
17.22
19.32
Operating Margin (%)
9
11
13
19
21
22
24
29
76
59
55
46
44
45
48
50
- -
Depreciation Expense
46
50
55
77
90
68
121
61
-246
136
213
251
58
173
252
343
794
Net Income, GAAP
16.06
19.46
20.21
17.31
16.39
15.73
14.33
33.55
- -
13.08
17.65
11.99
26.28
16.74
15.82
17.93
10.93
Effective Tax Rate (%)
15.02
14.24
13.36
15.43
18.9
10.27
9.32
4.3
-23.36
11.69
13.66
16.53
4.74
11.59
14.32
20.58
49.07
Profit Margin (%)
851
785
783
824
904
1,027
1,063
984
569
431
433
1,466
1,510
1,604
1,716
1,960
3,106
Working Capital
3
3
3
3
2
2
70
44
1
29
245
7
134
125
120
67
723
LT Debt
980
1,019
1,051
1,096
1,180
1,232
1,327
1,393
1,139
1,254
1,465
2,093
2,103
2,261
2,411
2,715
3,146
Total Equity
6.51
4.36
4.52
6.6
7.2
5.2
8.17
3.6
- -
6.16
10.51
10.77
2.36
7.72
11.25
13.4
24.22
Return on Invested Capital (%)
6.99
5.31
5.89
7.5
8.14
6.09
8.65
4.75
- -
9.6
11.72
11.71
3.03
7.68
10.31
12.85
24.52
Return on Capital (%)
7.17
5.09
5.39
7.22
8.01
5.69
9.51
4.54
-19.86
11.52
15.84
14.23
2.77
7.94
10.8
13.38
28.38
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9
6
4
LT Borrowings
54
758
710
LT Finance Leases
13
13
13
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
620
620
620
Market Capitalization
5,105
6,334
7,922

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,790
3,572
3,766
Cash, Cash Equivalents & STI
1,363
2,154
2,308
Accounts Receivable, Net
907
823
878
Inventories
454
532
522
Total Current Liabilities
830
813
660
Payables & Accruals
- -
- -
- -
ST Debt
9
6
4
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.15%
14.03%
12.61%
Free Cash Flow
-9.63%
-25.01%
6.04%
Net Income, GAAP
-35.31%
44.21%
35.91%
Sales/Revenue/Turnover
13.59%
2.47%
-5.41%
Total Cash Common Dividend
47.1%
23.39%
49.67%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
254
475
402
628
1,760
2025
339
393
- -
463
1,665
2026
296
466
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.15
0.1
0.12
0.41
2025
0.05
0.12
- -
0.23
0.55
2026
0.09
0.86
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.07
- -
- -
0.08
2025
- -
0.08
- -
0.03
0.12
2026
- -
0.09
- -
- -
- -
Similar Companies
Lumentum Holdings Inc. (NASDAQ:LITE)
GE Vernova Inc. (NYSE:GEV)
Eos Energy Enterprises, Inc. (NASDAQ:EOSE)
NuScale Power Corporation (NYSE:SMR)
Bharat Heavy Electricals Limited (NSE:BHEL)
Astor Enerji A.S. (BIST:ASTOR)
Business
Changgao Electric Group Co., Ltd. (002452.SZ) manufactures and sells high- and medium-voltage power transmission and distribution equipment; offers power survey, design, and general engineering contracting services; and operates in photovoltaic power generation, new energy vehicle operations, and power trading segments. The company produces ring main units, metal-enclosed switchgear, disconnector switches, earthing switches, circuit breakers, GIS and H-GIS equipment, tank circuit breakers, combined substations, low- and medium-voltage switchgears, isolating switches, grounding switches, combined electrical appliances, and complete equipment up to 1100kV. Founded in 1998 and headquartered in Changsha, China, Changgao Electric Group serves domestic markets as a qualified State Grid supplier and exports to regions including Central Asia, Southeast Asia, South Asia, Africa, Ecuador, Zambia, Nigeria, Philippines, Vietnam, Nepal, and Laos. In 2025, the company launches expansion projects at three production bases in Ningxiang, Wangcheng, and Hengyang, including a Jinzhou Phase III facility for 1000kV GIS and GIL assembly; ramps up 550kV combined electrical devices and 500kV switching equipment deliveries; secures State Grid bids worth hundreds of millions of RMB via subsidiaries; completes 800kV GIS product development; and advances new products like 363kV, 800kV, and 1000kV switching equipment, 550kV GIL, and 35kV transformers amid rising grid investments.