Electric motors are widely used in industry, agriculture, national defense, public facilities, home appliances and other fields. The general electric machines include electric motors and electric generators. Electric motors are often referred to as motors.
China has a great number of electric motor companies and the industry is going through integration. Micro electric motors and large electric motors (including some special electric motors) have tough technical requirements and require vast initial investment. As a result, they sit at the top of the U-shape curve with high margins and fewer competitors. By contrast, low-power and small and medium electric motors are in the middle of the U-curve with a large number of competitors and lower margins.
By the end of 2016, the reserve volume of small and medium electric motors had reached 1.6 billion kw, making China the largest country to produce, use and export small and medium electric motors. Most electric motors are driven by alternate currents (AC). In 2016, China produced 277.648 million kw of AC motors, down by 1.3%. Installed capacity of electric motors is 2.5-3.5 times that of electric generators. In a long period from now, the production of electric motors in China will keep expanding to an estimated 5 billion kw by 2020. The installed capacity of generators is expected to grow to 1.4 billion kw, equivalent to 1 kw per capita (compared to 3 kw per capita currently in the U.S.A.). The 30 kw to be added will bring huge room to grow for energy-efficient motors and motors for special purposes.
In this report, CRI analyzes 11 electric motor manufacturing enterprises listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 Wolong Electric Group Co., Ltd. (600580.SH)
2 Changzhou Shenli Electrical Machine Incorporated Company (603819.SH)
3 SEC Electric Machinery Co., Ltd. (603988.SH)
4 Harbin Electric Corporation Jiamusi Electric Machine Co., Ltd. (000922.SZ)
5 Jiangxi Special Electric Motor Co., Ltd. (002176.SZ)
6 Zhejiang Founder Motor Co., Ltd. (002196.SZ)
7 Zhongshan Broad-Ocean Motor Co., Ltd. (002249.SZ)
8 Jiangsu Tongda Power Technology Co., Ltd. (002576.SZ)
9 Hangzhou Weiguang Electronic Co., Ltd. (002801.SZ)
10 Shenzhen Kaizhong Precision Technology Co., Ltd. (002823.SZ)
11 Shandong Zhongji Electrical Equipment Co., Ltd. (300308.SZ)
1 Wolong Electric Group Co., Ltd. (600580.SH)
2 Changzhou Shenli Electrical Machine Incorporated Company (603819.SH)
3 SEC Electric Machinery Co., Ltd. (603988.SH)
4 Harbin Electric Corporation Jiamusi Electric Machine Co., Ltd. (000922.SZ)
5 Jiangxi Special Electric Motor Co., Ltd. (002176.SZ)
6 Zhejiang Founder Motor Co., Ltd. (002196.SZ)
7 Zhongshan Broad-Ocean Motor Co., Ltd. (002249.SZ)
8 Jiangsu Tongda Power Technology Co., Ltd. (002576.SZ)
9 Hangzhou Weiguang Electronic Co., Ltd. (002801.SZ)
10 Shenzhen Kaizhong Precision Technology Co., Ltd. (002823.SZ)
11 Shandong Zhongji Electrical Equipment Co., Ltd. (300308.SZ)
