Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) Bundle
Zhuzhou Times New Material Technology Co., Ltd. posted a striking CNY 5.69 billion in revenue in Q3 ending September 30, 2025 - a 29.25% sequential jump that helped lift TTM revenue to CNY 21.94 billion (up 21.87% YoY), while 2024 annual revenue reached CNY 20.06 billion with the wind power segment contributing CNY 8.2 billion (40.89% of total, +22.36% YoY) and automotive revenue at CNY 7.101 billion (35.41%); profitability shows a Q3 net income of CNY 124.91 million (net margin 2.22%) and TTM net income of CNY 568.33 million (net margin 2.59%, ROE 6.91%), yet liquidity and solvency flags include an Altman Z-Score of 1.57, a quick ratio of 0.94, total assets of CNY 24.88 billion against liabilities of CNY 16.42 billion (equity CNY 8.46 billion) and net cash of CNY 420.50 million, with operating cash flow TTM at CNY 1.99 billion and free cash flow CNY 635.58 million; valuation metrics show a TTM P/E of 24.89 and forward P/E of 18.84, P/S 0.72 and P/B 1.75, raising compelling questions about leverage (debt/equity 26.5%), interest coverage (8.67) and near-term liquidity trade-offs as the company scales wind-turbine blade competitiveness and production - explore the full breakdown to weigh these hard numbers and the associated risks and growth levers.
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Revenue Analysis
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) displayed accelerating top-line momentum through 2024 and into Q3 2025, driven by wind power and steady automotive and rail-transit demand. Key headline figures and segment contributions highlight where growth is concentrated and the relative weight of each end market to overall revenue.
- Quarter (Q3 ending Sep 30, 2025) revenue: CNY 5.69 billion (+29.25% vs prior quarter).
- TTM revenue as of Sep 30, 2025: CNY 21.94 billion (+21.87% YoY).
- Full-year 2024 revenue: CNY 20.06 billion (+14.35% vs 2023).
| Period | Revenue (CNY billion) | YoY / QoQ Change |
|---|---|---|
| Q3 2025 (ending Sep 30, 2025) | 5.69 | +29.25% QoQ |
| TTM as of Sep 30, 2025 | 21.94 | +21.87% YoY |
| Full-year 2024 | 20.06 | +14.35% YoY |
Segment performance in 2024 reveals concentration and differential growth rates across end markets:
| Segment | Revenue 2024 (CNY billion) | Share of Total Revenue (2024) | YoY Growth (2024) |
|---|---|---|---|
| Wind power | 8.20 | 40.89% | +22.36% |
| Automotive | 7.101 | 35.41% | +3.51% |
| Rail transit | 2.355 | 11.74% | +25.59% |
| Other / corporate | 2.404 | 11.96% | - |
- Wind power is the largest single driver, contributing ~41% of 2024 revenue with robust double-digit growth, indicating strong demand for materials/components in the renewables supply chain.
- Automotive remains a major, but slower-growing, pillar (35.4% of revenue), suggesting more mature or cyclical demand dynamics.
- Rail transit, while a smaller share, posted the highest segmental growth rate (25.59% YoY), signaling meaningful expansion in transport-related projects/orders.
The Q3 2025 quarter-over-quarter jump to CNY 5.69 billion and a TTM of CNY 21.94 billion underline a continued upward trajectory from the CNY 20.06 billion full-year 2024 base. For additional investor-focused context on ownership, trading patterns and strategic positioning, see: Exploring Zhuzhou Times New Material Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Profitability Metrics
- Quarter (ending 2025-09-30) net income: CNY 124.91 million; net profit margin: 2.22%.
- TTM (as of 2025-09-30) net income: CNY 568.33 million; net profit margin: 2.59%.
- Full year 2024 net income: CNY 444.86 million (increase of 15.20% vs. 2023).
- Basic EPS (quarter ending 2025-06-30): CNY 0.37 (vs. CNY 0.27 in same quarter 2024).
- Operating margin (quarter ending 2025-06-30): 5.30%.
- ROE (TTM as of 2025-09-30): 6.91%.
| Metric | Value | Period | Notes |
|---|---|---|---|
| Net Income | CNY 124.91 million | Quarter ended 2025-09-30 | Reported quarterly result |
| Net Profit Margin | 2.22% | Quarter ended 2025-09-30 | Margin on revenue for the quarter |
| TTM Net Income | CNY 568.33 million | TTM as of 2025-09-30 | Trailing twelve months aggregation |
| TTM Net Profit Margin | 2.59% | TTM as of 2025-09-30 | TTM profitability level |
| Net Income (FY) | CNY 444.86 million | FY 2024 | Year-over-year +15.20% |
| Basic EPS | CNY 0.37 | Quarter ended 2025-06-30 | Up from CNY 0.27 in Q2 2024 |
| Operating Margin | 5.30% | Quarter ended 2025-06-30 | Operating profitability indicator |
| Return on Equity (ROE) | 6.91% | TTM as of 2025-09-30 | TTM shareholder returns |
- EPS improvement (Q2 2025 vs Q2 2024) indicates per-share earnings growth despite modest margins.
- Operating margin of 5.30% provides a buffer above net margins, suggesting non-operating costs and taxes compress final profitability.
- ROE of 6.91% (TTM) signals moderate capital efficiency relative to peers in materials/chemicals sectors.
- Consistent year-over-year net income growth (2024 +15.20%) supports the TTM accumulation to CNY 568.33 million.
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Debt vs. Equity Structure
As of June 30, 2025, Zhuzhou Times New Material Technology Co., Ltd. reported a balance sheet composed of CNY 24.88 billion in total assets, CNY 16.42 billion in total liabilities, and total equity of CNY 8.46 billion. The company's financial position shows a conservative leverage profile, a positive net cash position, and mixed short-term liquidity signals.
| Metric | Value | Implication |
|---|---|---|
| Total assets | CNY 24.88 billion | Scale of operations and invested capital |
| Total liabilities | CNY 16.42 billion | Obligations payable to creditors |
| Total equity | CNY 8.46 billion | Residual interest attributable to shareholders |
| Debt-to-equity ratio | 26.5% | Low relative leverage |
| Net cash position | CNY 420.50 million (CNY 0.45 per share) | Positive liquidity after netting debt |
| Interest coverage ratio | 8.67 | Comfortable ability to service interest |
| Current ratio | 1.24 | Adequate short-term liquidity |
| Quick ratio | 0.94 | Tight coverage of short-term obligations excluding inventory |
- Capital structure: Equity of CNY 8.46 billion supports operations with debt providing modest leverage (26.5% D/E).
- Liquidity profile: Current ratio 1.24 indicates working-capital adequacy; quick ratio 0.94 highlights reliance on inventory turnover for near-term obligations.
- Interest service: Coverage ratio of 8.67 implies ample earnings buffer to meet interest expense.
- Net cash: Positive net cash of CNY 420.50 million (CNY 0.45/share) reduces financial risk and provides flexibility for capex, R&D, or distributions.
For broader corporate context and ownership background, see: Zhuzhou Times New Material Technology Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Liquidity and Solvency
Key liquidity and solvency metrics for the trailing twelve months ended June 30, 2025, show a mixed picture: solid operating cash generation but elevated leverage and a low Altman Z-Score indicating heightened bankruptcy risk. Relevant figures are summarized below and contextualized for investors.
- Operating cash flow (TTM to 2025-06-30): CNY 1.99 billion
- Free cash flow (TTM to 2025-06-30): CNY 635.58 million
- Cash and cash equivalents (2025-06-30): CNY 3.73 billion
- Total debt (2025-06-30): CNY 3.31 billion
- Net cash position per share: CNY 0.45
- Altman Z-Score: 1.57 (elevated bankruptcy risk)
| Metric | Value | Implication |
|---|---|---|
| Operating Cash Flow (TTM) | CNY 1,990,000,000 | Indicates core operations are generating positive cash |
| Free Cash Flow (TTM) | CNY 635,580,000 | Cash available after capex for debt repayment/dividends |
| Cash & Cash Equivalents | CNY 3,730,000,000 | Provides short-term liquidity buffer |
| Total Debt | CNY 3,310,000,000 | Leverage level to compare against cash and earnings |
| Net Cash per Share | CNY 0.45 | Share-level liquidity metric |
| Altman Z-Score | 1.57 | Below safe threshold; increased bankruptcy risk |
- Liquidity strengths:
- Substantial cash balance (CNY 3.73B) relative to short-term needs.
- Positive operating cash flow of CNY 1.99B supports ongoing operations.
- Solvency and risk factors:
- Total debt (CNY 3.31B) offsets cash reserves and reduces net liquidity cushion.
- Altman Z-Score of 1.57 signals financial distress risk; monitor interest coverage and covenant exposure.
- Free cash flow (CNY 635.58M) is positive but modest relative to debt levels, limiting rapid deleveraging.
- Investor considerations:
- Track upcoming quarterly cash flow trends and any changes in debt maturity profile.
- Assess operating margins and capex needs that could pressure free cash flow.
- Review corporate disclosures and the company history for strategic context: Zhuzhou Times New Material Technology Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Valuation Analysis
- Current market pricing vs. earnings: TTM P/E of 24.89 suggests the market is paying about 25x the last 12 months' earnings.
- Forward expectations: Forward P/E of 18.84 implies anticipated earnings growth or margin improvement priced in by investors.
- Revenue and asset context: A P/S of 0.72 and P/B of 1.75 indicate the stock trades below one times sales but at a modest premium to book value.
- Capital structure and operating cash flow: EV/EBITDA of 9.63 and EV/Revenue of 0.74 point to a reasonable enterprise valuation relative to operating profitability and top-line.
| Valuation Metric | Value | Interpretation |
|---|---|---|
| Trailing Twelve Months (TTM) P/E | 24.89 | Higher multiple on historical earnings - reflects recent profitability level and investor willingness to pay. |
| Forward P/E | 18.84 | Lower than TTM P/E - market expects improved earnings or reduced risk over the next 12 months. |
| Price-to-Sales (P/S) | 0.72 | Company valued below one times revenue - can indicate undervaluation or low margin business. |
| Price-to-Book (P/B) | 1.75 | Trades at a premium to book, suggesting some intangible value or return expectations above book ROE. |
| EV/EBITDA | 9.63 | Mid-single-digit to low-double-digit multiple - often considered reasonable for industrials/materials with stable cash flow. |
| EV/Revenue | 0.74 | Enterprise value below one times revenue - aligns with P/S and reflects capital structure-adjusted valuation. |
- Relative signals: The spread between TTM P/E (24.89) and forward P/E (18.84) signals expected earnings upward revision or normalization of one-off items.
- Profitability vs. revenue: P/S 0.72 coupled with EV/Revenue 0.74 suggests revenue is not being valued richly, so improvements in margins would materially lift multiples.
- Balance sheet perspective: P/B at 1.75 indicates some premium for intangible assets, growth prospects, or ROE above the cost of equity.
- Cash flow valuation: EV/EBITDA of 9.63 implies market considers enterprise-level cash generation modestly attractive versus peers in materials and industrial segments.
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Risk Factors
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) exhibits several measurable financial signals that investors should weigh carefully. The company's current profile shows constrained liquidity, modest profitability, and moderate leverage - a combination that creates material risks in adverse market conditions.
- The Altman Z-Score of 1.57 places the company in a higher-risk zone for financial distress, suggesting elevated bankruptcy risk relative to healthier peers.
- A quick ratio of 0.94 indicates the company may struggle to meet short-term liabilities without converting inventory to cash.
- Debt-to-equity at 26.5% signals moderate financial leverage; debt levels are not extreme but reduce flexibility during downturns.
- Net profit margin of 2.22% reflects low bottom-line profitability, leaving limited buffer against revenue shocks.
- Operating margin of 5.30% points to moderate operational efficiency but limited capacity to absorb rising costs.
- Return on equity (ROE) of 6.91% suggests only modest returns to shareholders, which may be below investor expectations for capital allocation.
| Metric | Value | Implication |
|---|---|---|
| Altman Z-Score | 1.57 | Higher risk of bankruptcy / financial distress |
| Quick Ratio | 0.94 | Potential difficulty meeting short-term obligations without inventory sales |
| Debt-to-Equity | 26.5% | Moderate leverage; manageable but reduces financial flexibility |
| Net Profit Margin | 2.22% | Low profitability; small margin for adverse events |
| Operating Margin | 5.30% | Moderate operational efficiency |
| Return on Equity (ROE) | 6.91% | Moderate shareholder returns |
Key practical risks for investors include liquidity strain if receivables/inventory conversion slows, limited profit buffers against cost inflation or demand shocks, and the company's heightened Altman Z-Score which merits close monitoring of cash flows and covenant exposure. For additional context on shareholder composition and investor behavior, see Exploring Zhuzhou Times New Material Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) - Growth Opportunities
Zhuzhou Times New Material Technology Co., Ltd. (600458.SS) shows clear segment-level momentum in 2024, driven primarily by wind power, automotive and rail transit businesses. The company is prioritizing product competitiveness (notably wind turbine blades), production capacity optimization and market expansion to capture rising demand.- Wind power: revenue CNY 8.200 billion in 2024, up 22.36% year-over-year - strong tailwinds from global and domestic turbine installations.
- Automotive: revenue CNY 7.101 billion in 2024, up 3.51% year-over-year - steady demand in vehicle components and electrification-related inputs.
- Rail transit: revenue CNY 2.355 billion in 2024, up 25.59% year-over-year - accelerating orders for rail infrastructure components and material systems.
| Segment | 2023 Revenue (CNY bn) | 2024 Revenue (CNY bn) | YoY Growth (%) |
|---|---|---|---|
| Wind Power | 6.703 | 8.200 | 22.36 |
| Automotive | 6.859 | 7.101 | 3.51 |
| Rail Transit | 1.876 | 2.355 | 25.59 |
- Enhancing wind turbine blade competitiveness - R&D on materials, aerodynamic shape and manufacturing tolerances to increase efficiency and reduce weight.
- Optimizing production capacity - scaling facilities, improving yields and flexible scheduling to meet surging wind and rail orders while controlling unit costs.
- Exploring new markets and applications - targeting offshore wind suppliers, electric vehicle components, and expanded rail system contracts domestically and internationally.
- Pursuing vertical integration where feasible to secure raw material supply and improve margin stability.
- Revenue mix shift toward higher-growth segments (wind and rail) improves top-line resilience and diversification.
- Capacity optimization timelines will be critical to convert order book into revenue without margin erosion from overtime or expedited logistics.
- R&D and product upgrades in blades are differentiators that can command premium pricing or win larger OEM contracts.
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