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Stock Analysis & ValuationShenzhen JingQuanHua Electronics Co.,Ltd. (002885.SZ)

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$25.54
Sector Valuation Confidence Level
Low
Valuation methodValue, $Upside, %
Artificial intelligence (AI)67.84166
Intrinsic value (DCF)88.48246
Graham-Dodd Method5.26-79
Graham Formula3.32-87

Strategic Investment Analysis

Company Overview

Shenzhen JingQuanHua Electronics Co., Ltd. is a prominent Chinese electronics manufacturer specializing in electromagnetic components and power solutions. Founded in 1996 and headquartered in Shenzhen, the company has established itself as a key player in the global electronics hardware sector. JingQuanHua's core product portfolio includes sophisticated power adapters, chargers, customized power supplies, smart power converters, and a comprehensive range of transformers and inductors. These components serve critical functions across diverse applications including home appliances, consumer electronics, UPS systems, LED lighting, telecommunications, and photovoltaic inverters. Operating in China's thriving technology hub, the company leverages Shenzhen's robust electronics manufacturing ecosystem to deliver high-quality components to worldwide customers. As a specialized transformer and power supply manufacturer, JingQuanHua occupies an important niche in the global supply chain for electronic components, supporting the growing demand for efficient power management solutions across multiple industries. The company's extensive experience since 1996 positions it as an established provider in the competitive electronics components market.

Investment Summary

Shenzhen JingQuanHua Electronics presents a mixed investment profile with notable strengths and significant challenges. The company operates in a growing market for electronic components with applications across multiple technology sectors, supported by its established manufacturing capabilities. However, concerning financial metrics include thin net margins of approximately 1.3% on CNY 3.01 billion revenue, indicating intense competitive pressures. The company's high beta of 1.79 suggests substantial volatility relative to the market, while modest earnings per share of CNY 0.14 and a small dividend yield may limit appeal to income-focused investors. Positive cash flow generation and reasonable debt levels provide some financial stability, but the low profitability metrics highlight the competitive nature of the electronic components manufacturing sector. Investors should carefully weigh the company's market position against its margin constraints and exposure to cyclical electronics demand.

Competitive Analysis

Shenzhen JingQuanHua Electronics operates in the highly competitive electromagnetic components and power supply manufacturing sector, where scale, technological capability, and cost efficiency determine competitive positioning. The company's competitive advantage appears rooted in its specialized focus on transformers and power components, coupled with its location in Shenzhen's electronics manufacturing cluster. This geographic positioning provides supply chain benefits and access to skilled labor. However, JingQuanHua faces intense competition from both domestic Chinese manufacturers and international component suppliers. The company's relatively modest market capitalization of approximately CNY 4.18 billion suggests it operates as a mid-tier player rather than an industry leader. Its product diversification across consumer electronics, industrial applications, and renewable energy components provides some risk mitigation but also spreads resources thin across multiple competitive fronts. The thin profit margins indicate limited pricing power and suggest the company competes primarily on cost rather than technological differentiation. To strengthen its competitive position, JingQuanHua would need to develop more proprietary technologies or secure strategic partnerships with major electronics OEMs. The company's long-standing presence since 1996 provides customer relationships and manufacturing experience, but it must continuously innovate to maintain relevance against larger competitors with greater R&D budgets and global distribution networks.

Major Competitors

  • Shenzhen Sunlord Electronics Co., Ltd. (002138.SZ): Sunlord Electronics is a major Chinese competitor specializing in passive components including inductors, transformers, and protective components. The company has significantly larger scale and broader product portfolio than JingQuanHua, with stronger R&D capabilities and global customer relationships. Sunlord's weakness includes intense price competition in standard components, but its diversified product line and technological expertise give it advantages in serving major electronics manufacturers. Compared to JingQuanHua, Sunlord has greater market presence and financial resources.
  • Shenzhen麦捷微电子科技股份有限公司 (Shenzhen Microgate Technology Co., Ltd.) (300319.SZ): Microgate Technology focuses on RF components and inductors, competing directly in certain transformer and component segments. The company has strong technological capabilities in high-frequency components used in smartphones and communications equipment. Its weakness includes dependence on the mobile device market, which experiences cyclical demand. Compared to JingQuanHua, Microgate has more specialized technology in specific high-frequency applications but may have less breadth in industrial power components.
  • Shenzhen Kinwong Electronic Co., Ltd. (603228.SS): Kinwong Electronic is a leading PCB manufacturer that also produces electronic components and assemblies. The company has vertical integration advantages and serves major global electronics brands. Its weakness includes capital-intensive operations and exposure to raw material price fluctuations. Compared to JingQuanHua, Kinwong has larger scale and more diversified capabilities including PCB fabrication, giving it advantages in serving customers requiring integrated solutions rather than discrete components.
  • Luxshare Precision Industry Co., Ltd. (002475.SZ): Luxshare Precision is a massive electronics manufacturing services provider with extensive capabilities in connectors, cables, and components. The company's enormous scale and strong relationships with Apple and other major tech companies give it significant advantages. Its weakness includes high dependence on a few major customers and thin margins in competitive segments. Compared to JingQuanHua, Luxshare operates at a completely different scale with global manufacturing footprint and much broader capabilities, making it a formidable competitor for major contracts.
  • Shenzhen Sunway Communication Co., Ltd. (300136.SZ): Sunway Communication specializes in electromagnetic compatibility components and antenna systems. The company has strong technical expertise in RF and wireless components used in mobile devices. Its weakness includes concentration in the smartphone market and vulnerability to design cycle fluctuations. Compared to JingQuanHua, Sunway has more focused expertise in communication-specific components but may have less presence in industrial power applications where JingQuanHua operates.
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