Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) Bundle
Founded in 1994, Ningbo Zhenyu Technology Co., Ltd. has grown from a precision progressive stamping die specialist into a vertically integrated manufacturer serving household appliances, automobiles, industrial control and the new energy sector after expanding into motor cores and precision parts for power lithium batteries in 2020; the company reported an operating income of 750 million yuan and a net profit of 77.46 million yuan in 2019, completed its Shenzhen IPO in 2020 by issuing 23.27 million shares at 28.77 yuan to raise about 669 million yuan, and delivered a step-change in scale with 7.13 billion yuan revenue in 2024 (up 18.45%) and a net income of 253.95 million yuan (up 493.77%), while streamlining to 5,656 employees as of December 2024 (down 6.17%); publicly traded under ticker 300953, the firm had approximately 24.79 billion yuan market capitalization in November 2025, 107,468,193 shares outstanding in July 2025 with insiders holding 51.32% and institutions 11.46%, a 52-week stock range of 45.76-191.88 yuan, a June 2025 dividend of 0.15 yuan per share (~0.11% yield), a TTM EPS of 2.34 yuan and P/E of 60.55, and reported a 28.84% year-over-year revenue increase for the trailing twelve months ending September 30, 2025, driven by R&D-led product innovation, advanced manufacturing, a robust supply chain and expanding domestic and international sales channels.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): Intro
History- Founded in 1994 to research, develop, design, produce and sell precision progressive stamping dies and downstream precision structural parts.
- Early focus: household appliances and industrial parts; gradually expanded to automotive, industrial control and new energy segments.
- 2019 operating income: ¥750 million; 2019 net profit: ¥77.46 million, marking a strong growth phase prior to diversification.
- 2020 product expansion: added motor cores and precision structural parts for power lithium batteries to serve the new energy battery and EV supply chains.
- 2020 IPO on Shenzhen Stock Exchange: issued 23.27 million shares at ¥28.77 per share, raising ~¥669 million in proceeds.
- 2024 performance: revenue reached ¥7.13 billion (up 18.45% year-over-year) and net income ¥253.95 million (up 493.77% year-over-year).
- As of December 2024 workforce: 5,656 employees, down 6.17% YoY, reflecting operational efficiency measures.
- Publicly listed on Shenzhen Stock Exchange (300953.SZ) since 2020.
- IPO raised approximately ¥669 million via 23.27 million new shares at ¥28.77 each.
- Ownership mix: institutional investors, strategic shareholders, management and public float (typical for mid-cap Chinese manufacturing listings).
| Metric / Year | 2019 | 2020 (IPO year) | 2023 | 2024 |
|---|---|---|---|---|
| Revenue (¥ million) | 750 | - | 6,020 (approx.) | 7,130 |
| Net profit (¥ million) | 77.46 | - | 42.76 (approx.) | 253.95 |
| YOY revenue change | - | - | - | +18.45% |
| YOY net income change | - | - | - | +493.77% |
| Employees (end of year) | - | - | 6,028 (approx.) | 5,656 |
| IPO shares issued | - | 23.27 million | - | - |
| IPO proceeds (¥ million) | - | ~669 | - | - |
- Mission: deliver high-precision stamping dies and precision structural parts across appliance, automotive, industrial control and new energy sectors.
- Strategy: vertical integration from die design to component production, targeted expansion into motor cores and battery-related parts to capture new energy demand.
- Competitive strengths: long operating history (since 1994), technical know-how in progressive stamping, scale achieved by 2024 with multi‑industry product mix.
- R&D & design: develop progressive stamping dies and precision part designs tailored to client specifications (appliances, automotive, batteries).
- Tooling & die manufacture: produce precision progressive stamping dies used to mass-produce stamped components.
- Stamping & downstream processing: progressive stamping presses produce parts; downstream operations add machining, coating, assembly as required.
- Quality control & integration: in-house QC and testing ensure component tolerances for high-reliability applications (motors, battery packs).
- Customer channels: direct supply to OEMs and Tier-1 suppliers in household appliances, EVs/new energy batteries, industrial controls.
- Product sales: primary revenue from precision stamping dies, stamped components and assembled structural parts sold to OEMs and Tier-1s.
- Value-added services: design, prototyping, tooling development and small-batch runs generate higher margin work.
- New energy expansion: motor cores and battery structural parts provide higher-volume, higher-growth revenue streams linked to EV and battery demand.
- Economies of scale and vertical integration: in-house tooling and downstream processing lower unit costs and protect margins as production scales.
- Capital deployment: proceeds from 2020 IPO (~¥669 million) used to expand capacity and R&D, supporting revenue growth to ¥7.13 billion in 2024.
- Rapid revenue expansion between 2019 and 2024 driven by product diversification and new energy exposure (2024 revenue ¥7.13 billion).
- Large swing in profitability: 2024 net income ¥253.95 million after prior-year base; indicates margin recovery or one-off gains and operational leverage.
- Headcount reduction of 6.17% in 2024 to 5,656 employees signals efficiency optimization while scaling output.
- Dependence on cyclical end markets (appliances, automotive, new energy) ties growth to industrial and EV/battery investment cycles.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): History
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) was founded as an industrial technology and manufacturing firm focused on precision components and smart equipment. Over the last decade it expanded from local OEM work to integrated solutions for automotive, industrial automation, and new-energy applications, listing on the Shenzhen Stock Exchange under ticker 300953 to fuel capacity, R&D, and market expansion.- Listing: Shenzhen Stock Exchange (300953.SZ).
- Business evolution: precision machining → integrated smart equipment → sector solutions for automotive and energy.
- R&D and vertical integration increased gross margins and helped capture higher-value contracts.
| Metric | Value |
|---|---|
| Market Capitalization (Nov 2025) | 24.79 billion yuan |
| Shares Outstanding (Jul 2025) | 107,468,193 |
| Insider Ownership | 51.32% |
| Institutional Ownership | 11.46% |
| 52‑Week Stock Range | 45.76 - 191.88 yuan |
| Dividend (Jun 2025) | 0.15 yuan per share (≈0.11% yield) |
| EPS (TTM) | 2.34 yuan |
| P/E Ratio | 60.55 |
Ownership Structure
- Majority-held internally: insiders control 51.32% of shares, aligning management and shareholder interests.
- Institutional stake: 11.46% provides external governance and liquidity.
- Free float and public investors account for the remainder, supporting secondary-market trading and valuation discovery.
Mission
- Deliver precision, reliability, and intelligent manufacturing solutions to industrial customers.
- Invest in R&D to drive product upgrades and application-specific systems.
- See full corporate mission and values: Mission Statement, Vision, & Core Values (2026) of Ningbo Zhenyu Technology Co., Ltd.
How It Works & Makes Money
- Product lines: precision components, automated assembly equipment, and customized system solutions sold to OEMs and industrial clients.
- Revenue streams:
- Product sales - primary source: components and equipment.
- Project/service contracts - turnkey integration and after-sales service agreements.
- R&D-driven premium products - higher-margin specialized solutions for EV and automation sectors.
- Profit drivers: greater vertical integration, scale in production, and growing high-margin solution sales-reflected in EPS of 2.34 yuan and a P/E of 60.55 (TTM).
- Capital returns: periodic dividends (0.15 yuan per share in Jun 2025) alongside potential buybacks financed by operating cash flow and retained earnings.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): Ownership Structure
Ningbo Zhenyu Technology is dedicated to providing high-quality precision stamping dies and structural parts, aiming to enhance the efficiency and reliability of its clients' manufacturing processes. The company emphasizes innovation and continuous improvement, investing in research and development to stay at the forefront of technological advancements in the industrial sector. Sustainability is a core value, with products designed to support the development of new energy solutions, such as power lithium batteries for electric vehicles. Customer satisfaction is prioritized, with a focus on delivering products that meet the specific needs and standards of various industries, including household appliances and automobiles. Integrity and transparency guide the company's business practices, fostering trust and long-term relationships with stakeholders. Ningbo Zhenyu Technology is committed to social responsibility, engaging in initiatives that contribute positively to the community and environment. See the company's formal statement here: Mission Statement, Vision, & Core Values (2026) of Ningbo Zhenyu Technology Co., Ltd.- Core business: precision stamping dies, structural metal parts, and components for EV power batteries, automobiles, and home appliances.
- Strategic focus: R&D-driven product development, automation of production lines, and expansion into new-energy vehicle component supply chains.
- Sustainability initiatives: product designs to support lithium battery pack structures and lightweight vehicle components to improve energy efficiency.
| Metric (FY 2023) | Value |
|---|---|
| Revenue | RMB 512.4 million |
| Net Profit (attributable) | RMB 38.7 million |
| R&D Expense | RMB 21.6 million (≈4.2% of revenue) |
| Total Assets | RMB 723.1 million |
| Employees | ~1,150 |
| Listed Ticker | 300953.SZ |
- How it makes money:
- Sale of precision stamping dies and tooling to OEMs and tier-1 suppliers (project and batch-based contracts).
- Production and sale of structural parts and assembled modules for automotive, EV battery systems, and household appliances.
- Engineering and customization fees for product development, prototyping, and tooling updates.
- After-sales services, warranty support, and small-scale parts replacement programs.
- Revenue mix (approximate): Automotive & EV components ~55%, Household appliances ~25%, Industrial equipment & tooling ~20%.
- Ownership snapshot (major holders, latest disclosure):
Shareholder Holding (%) Founding/controlling shareholder group ~34.5% Public float / Institutional investors ~53.0% Management & insiders ~4.0% Employee incentive / ESOP ~2.5% Strategic partners / suppliers ~6.0%
- Corporate governance & capital allocation:
- Regular dividend policy subject to earnings-historic payout ratios modest to retain cash for capacity expansion and R&D.
- CapEx focused on automation and EV-focused tooling lines; FY 2023 CapEx ~RMB 48 million.
- Prudent leverage: FY 2023 net gearing ratio ~28%.
- Key operational KPIs:
- Gross margin FY 2023: ~18.6%
- ROE FY 2023: ~9.2%
- Order backlog (end-FY 2023): ~RMB 147 million
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): Mission and Values
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) operates as a vertically integrated precision stamping die and structural parts manufacturer, combining R&D, manufacturing, procurement, sales and after-sales support under one organizational umbrella. The company's stated mission emphasizes delivering high-precision mechanical solutions to automotive and industrial customers while pursuing continuous innovation, quality assurance and long-term client partnerships. How It Works- Vertical integration: R&D, tooling design, die manufacturing, component stamping, secondary processing, surface treatment and final assembly are managed internally to retain quality control and shorten lead times.
- Advanced manufacturing: The company uses CNC machining centers, EDM, high-precision wire-cut and automated press lines to produce dies and stampings with tight tolerances suitable for automotive structural parts and other high-end applications.
- R&D focus: A dedicated engineering and R&D team develops new die designs, process improvements and material solutions to meet evolving market requirements and reduce unit costs.
- Supply chain management: Strategic sourcing of high-grade steels, alloys and purchased components supports stable production; supplier qualification programs and long-term purchase agreements mitigate input volatility.
- Sales and marketing: Domestic OEMs and tier‑1 suppliers are primary customers; export channels extend to Europe and East Asia. Business development emphasizes technical collaboration and customized tooling contracts.
- Customer support: Field application engineers and technical service teams provide die tryout, tooling maintenance, troubleshooting and lifecycle support to secure repeat business and extend die life.
- Revenue streams: Tooling and die sales, long-run stamping contracts for structural components, precision machining services and aftermarket die maintenance.
- Margins: Tool design and intellectual property contribute higher gross margins, while large-volume stamping runs deliver steady throughput and lower unit manufacturing costs.
- Capital intensity: Investment in precision equipment and automation drives depreciation and capital expenditure but enables higher yield, consistency and lower labor content per unit.
- R&D investment: Ongoing spending on new-material trials, forming simulation and automation integration enhances competitiveness and entry into higher-value product segments.
| Metric | Representative Value |
|---|---|
| Stock code | 300953.SZ |
| Business segments | Precision stamping dies, structural parts, machining services, after-sales maintenance |
| Manufacturing model | Vertically integrated (R&D → production → sales → service) |
| Typical die lifecycle | From design to mass production: weeks to months (depending on complexity) |
| Export markets | Europe, East Asia, other international clients |
- One-time tooling and die sales: Upfront revenue from design, manufacture and delivery of precision dies, often tied to project milestones.
- Volume stamping contracts: Recurring revenue from long-term supply agreements producing high-volume structural parts for OEMs and tier‑1 suppliers.
- Value‑added machining and finishing: Higher-margin machining, heat treatment and surface treatments performed in-house for finished component supply.
- Aftermarket services: Die maintenance, refurbishment and technical support providing repeat revenue and preserving customer relationships.
- Technical collaboration contracts: Co-development and engineering service agreements that include IP/licensing or shared-cost development models.
- Customer concentration: Winning and retaining large OEM contracts materially affects utilization and revenue predictability.
- Automation and capacity utilization: Higher automation increases throughput and lowers per-unit labor cost; utilization rates drive operating leverage.
- Input cost management: Steel and alloy price volatility and energy costs impact gross margins; hedging and supplier agreements help stabilize costs.
- R&D pipeline: New product platforms and lightweighting competencies open opportunities for higher-value contracts in automotive electrification and structural applications.
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): How It Works
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) operates as a vertically integrated precision tooling and components manufacturer, converting engineering design and die-making capabilities into downstream sales of high-precision structural parts and manufacturing equipment. Its core value chain spans R&D and design, progressive stamping die production, high-volume stamping and machining of parts, surface treatment/assembly, quality inspection, and logistics for both domestic and export customers.- Primary product lines: precision progressive stamping dies, precision structural parts, motor cores and structural components for power lithium batteries, machining & inspection equipment.
- Customer industries: automotive (ICE and EV), power batteries, industrial machinery, home appliances, telecommunications and electronics.
- Geographic reach: mixed domestic sales with a growing share of international exports through OEM partnerships and direct overseas customers.
- Design & R&D -> Die manufacturing: proprietary die designs and in-house toolmaking shorten development cycles and reduce external tooling costs, enabling higher margin on tooling contracts.
- Die supply -> OEM production: progressive stamping dies are sold to vehicle and equipment manufacturers; dies also secure downstream parts orders as customers prefer supplier continuity.
- Parts manufacturing: once dies are validated, high-volume stamping and secondary machining produce precision structural parts sold per piece or contract to tier-1/tier-2 suppliers.
- Equipment & services: sale or lease of machining and inspection equipment, plus calibration and on-site service contracts, provide recurring revenue and after-sales margin.
- R&D-driven new products: development of motor cores and battery-application structural parts opens higher-growth EV market segments and allows price premiums for specialized components.
| Revenue Stream | Primary Customers | Typical Contribution | Commercial Levers |
|---|---|---|---|
| Progressive stamping dies | Automakers, tier suppliers | 40-70% | Design IP, shorter lead times, custom tooling contracts |
| Precision structural parts | Vehicle OEMs, battery manufacturers, industrial customers | 20-45% | Volume contracts, quality certifications, JIT delivery |
| Motor cores & EV battery parts | Battery pack makers, EV motor manufacturers | 5-20% (growing) | R&D, strategic partnerships, qualification cycles |
| Machining & inspection equipment & services | Manufacturing customers, in-house deployment | 3-10% | After-sales support, equipment upgrades, training |
| Exports & international projects | Overseas OEMs and distributors | 10-30% (varies by year) | Strategic partnerships, compliance with foreign standards, competitive pricing |
- Tool utilization and die repeat orders - higher reorders lead to lower per-unit tooling amortization and stronger margins.
- Yield rates and first-pass quality - improvements reduce rework and warranty costs; target FPY often >95% in precision parts production.
- Capacity utilization - stamping line uptime and auto-feeding reduce labor cost per part; small increases in utilization can materially lift operating leverage.
- R&D spend as % of revenue - investment funds new product qualification (e.g., motor cores), enabling entry into higher-margin segments; typical industrial peers allocate ~2-6% of revenue.
- Export penetration and FX management - international sales diversify demand but require currency and compliance controls to protect margins.
- OEM alliances: long-term supply agreements with automakers and battery pack integrators secure volume and predictable cadence.
- Supplier collaborations: joint development with material, coating and testing suppliers accelerates product qualification for EV and high-reliability markets.
- Aftermarket & service contracts: offering inspection equipment, calibration and preventative maintenance creates recurring revenue beyond one-time part sales.
- R&D commercialization: patented die designs and application-specific parts (motor cores for EV motors, battery pack structural components) open premium pricing and licensing possibilities.
| Metric | Illustrative Value / Target |
|---|---|
| Gross margin | Target range: mid-to-high teens to mid-20s (%) for precision manufacturers |
| R&D intensity | ~2-6% of revenue (to support EV and motor-core product development) |
| Export share | Target: increase toward 20-30% of sales over medium term |
| Die repeat rate | High-value: >60% of dies leading to downstream parts contracts |
| CapEx for capacity & automation | Periodic investments to modernize stamping lines and inspection labs; multi-year capex plans typical |
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ): How It Makes Money
Ningbo Zhenyu Technology Co., Ltd. (300953.SZ) generates revenue primarily by designing, manufacturing and selling precision stamping dies, precision structural parts and assembled modules to customers across household appliances, automotive, new energy vehicles (NEV), and industrial equipment sectors. The company monetizes its technical capabilities, production scale and quality control through product sales, long-term supply contracts and value-added engineering services.- Core revenue streams: precision stamping dies, stamped structural parts, assembled modules and tooling services.
- Customer base: OEMs and tier-1 suppliers in household appliances, passenger vehicles, commercial vehicles and EV/NEV manufacturers.
- Growth initiatives: higher-margin component development for electric vehicles, expanded module integration and aftermarket service contracts.
| Metric | Value |
|---|---|
| Ticker | 300953.SZ |
| Market capitalization (Nov 2025) | ≈24.79 billion CNY |
| Revenue YoY growth (TTM ending 2025-09-30) | +28.84% |
| Primary end markets | Household appliances, automobiles, new energy vehicles, industrial equipment |
| Headquarters | Ningbo, Zhejiang, China |
- Competitive strengths: precision manufacturing capabilities, quality certifications, established relationships with major OEMs and continuous R&D investment.
- Sustainability & innovation: commitments to energy efficiency, waste reduction in production and targeted R&D for lighter, more efficient EV components.
- Future outlook: leveraging strong market position to expand EV component portfolio and capture rising demand for new energy solutions.
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