G 
Guangdong Vanward New Electric Co 002543.SZ · CNY
Consumer Discretionary · Shenzhen · 🇨🇳 China
7.19
+4.96%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥7.23bn
FY2016FY2025
Net income
CN¥215.7m
FY2016FY2025
Free cash flow
−CN¥91.8m
FY2016FY2025
Shareholders' equity
CN¥4.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.23bn | CN¥7.34bn | CN¥6.10bn | CN¥6.63bn | CN¥7.53bn | CN¥6.27bn | CN¥6.22bn | CN¥6.91bn | CN¥6.53bn | CN¥4.96bn |
| Gross profit | CN¥1.84bn | CN¥2.04bn | CN¥1.71bn | CN¥1.78bn | CN¥1.74bn | CN¥1.74bn | CN¥2.05bn | CN¥2.02bn | CN¥1.81bn | CN¥1.65bn |
| Research and development | CN¥306.6m | CN¥288.7m | CN¥230.5m | CN¥250.4m | CN¥285.9m | CN¥236.7m | CN¥257.9m | CN¥239.1m | CN¥145.2m | CN¥174.6m |
| Operating income | CN¥372.6m | CN¥769.4m | CN¥650.6m | CN¥623.4m | CN¥425.3m | CN¥732.6m | CN¥708.5m | CN¥595.2m | CN¥493.1m | CN¥495.3m |
| Net income | CN¥215.7m | CN¥657.6m | CN¥568.2m | CN¥550.0m | CN¥358.3m | CN¥611.3m | CN¥598.1m | CN¥488.9m | CN¥413.4m | CN¥431.2m |
| Diluted earnings per share | 0.29 | 0.88 | 0.75 | 0.75 | 0.47 | 0.83 | 0.83 | 0.65 | 0.56 | 0.56 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.11bn | CN¥8.78bn | CN¥8.40bn | CN¥6.89bn | CN¥8.13bn | CN¥7.80bn | CN¥6.96bn | CN¥6.80bn | CN¥6.51bn | CN¥5.09bn |
| Cash and short-term investments | — | CN¥2.39bn | CN¥3.19bn | CN¥1.62bn | CN¥1.83bn | CN¥1.16bn | CN¥887.3m | CN¥944.1m | CN¥585.6m | CN¥1.21bn |
| Total liabilities | CN¥3.31bn | CN¥4.03bn | CN¥3.79bn | CN¥2.57bn | CN¥4.12bn | CN¥3.73bn | CN¥3.05bn | CN¥3.35bn | CN¥3.33bn | CN¥2.17bn |
| Debt | — | CN¥397.9m | CN¥672.1m | CN¥270.6m | CN¥900.7m | CN¥362.4m | CN¥549.9m | CN¥885.5m | CN¥208.9m | CN¥28.6m |
| Shareholders' equity | CN¥4.80bn | CN¥4.75bn | CN¥4.54bn | CN¥4.32bn | CN¥4.01bn | CN¥4.06bn | CN¥3.73bn | CN¥3.28bn | CN¥3.02bn | CN¥2.92bn |
| Shares outstanding | 736m | 747m | 754m | 735m | 766m | 733m | 725m | 748m | 740m | 765m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥286.0m | CN¥617.9m | CN¥1.30bn | CN¥815.3m | CN¥410.2m | CN¥1.21bn | CN¥814.9m | CN¥102.2m | CN¥873.1m | CN¥884.0m |
| Capital spending | −CN¥377.8m | −CN¥444.1m | −CN¥314.7m | −CN¥119.4m | −CN¥96.6m | −CN¥76.6m | −CN¥150.1m | −CN¥203.1m | −CN¥367.1m | −CN¥402.7m |
| Free cash flow | −CN¥91.8m | CN¥173.8m | CN¥981.2m | CN¥695.9m | CN¥313.5m | CN¥1.13bn | CN¥664.8m | −CN¥101.0m | CN¥506.1m | CN¥481.3m |
| Dividends paid | −CN¥211.7m | −CN¥477.0m | −CN¥303.0m | −CN¥245.4m | −CN¥245.4m | −CN¥245.4m | −CN¥246.0m | −CN¥220.0m | −CN¥321.2m | −CN¥330.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.49bn | CN¥2.17bn | CN¥1.70bn | CN¥1.44bn | CN¥1.79bn | CN¥2.30bn | CN¥2.11bn | CN¥1.42bn |
| Gross profit | CN¥264.5m | CN¥492.4m | CN¥206.7m | CN¥491.9m | CN¥452.4m | CN¥685.7m | CN¥321.9m | CN¥450.4m |
| Operating income | −CN¥19.4m | CN¥99.2m | −CN¥146.7m | CN¥86.9m | CN¥230.7m | CN¥215.3m | CN¥231.3m | CN¥107.9m |
| Net income | −CN¥18.2m | CN¥79.6m | −CN¥263.5m | CN¥100.3m | CN¥199.6m | CN¥179.3m | CN¥203.7m | CN¥98.8m |
| Diluted earnings per share | -0.02 | 0.11 | -0.36 | 0.14 | 0.27 | 0.24 | 0.27 | 0.13 |
| Cash from operations | — | — | — | −CN¥23.0m | CN¥369.0m | CN¥248.0m | — | CN¥349.0m |
| Capital spending | −CN¥111.0m | −CN¥79.0m | −CN¥113.0m | −CN¥64.0m | −CN¥59.0m | −CN¥139.0m | −CN¥130.0m | −CN¥146.0m |
| Free cash flow | — | — | — | −CN¥87.0m | CN¥310.0m | CN¥109.0m | — | CN¥203.0m |
| Total assets | CN¥7.79bn | CN¥8.41bn | CN¥8.11bn | CN¥8.42bn | CN¥8.28bn | CN¥8.66bn | CN¥8.78bn | CN¥8.39bn |
| Cash and short-term investments | — | — | — | CN¥2.16bn | CN¥2.29bn | CN¥2.36bn | CN¥2.39bn | CN¥3.46bn |
| Debt | — | — | — | CN¥1.26bn | CN¥83.0m | CN¥187.0m | CN¥397.9m | CN¥701.0m |
| Shareholders' equity | CN¥4.63bn | CN¥4.83bn | CN¥4.80bn | CN¥5.06bn | CN¥4.96bn | CN¥4.94bn | CN¥4.75bn | CN¥4.70bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 25.4% | 27.7% | 28.1% | 26.8% | 23.1% | 27.7% | — |
| Operating margin | 4.0% | 10.0% | 11.2% | 9.1% | 6.2% | 7.9% | — |
| Net margin | 3.0% | 9.0% | 9.3% | 8.3% | 4.8% | 9.8% | — |
| Return on equity | 4.5% | 13.8% | 12.5% | 12.7% | 8.9% | 15.0% | — |
| Return on assets | 2.7% | 7.5% | 6.8% | 8.0% | 4.4% | 7.8% | — |
| Free cash flow yield | 11.7% | 18.5% | 27.8% | 16.6% | 8.6% | 22.8% | — |
| Revenue growth | -1.5% | 20.3% | -7.9% | -11.9% | 20.1% | 0.8% | — |
| Earnings growth | -67.2% | 15.7% | 3.3% | 53.5% | -41.4% | 2.2% | — |
| Current ratio | 1.28x | 1.37x | 1.40x | 1.64x | 1.21x | 1.13x | — |
| Debt to equity | — | 0.08x | 0.15x | 0.06x | 0.22x | 0.09x | 0.15x |
| Equity ratio | 59.2% | 54.1% | 54.1% | 62.7% | 49.3% | 52.1% | — |
| Interest coverage | 52.12x | 18.81x | 32.87x | 33.89x | 24.20x | 17.31x | — |
| R&D as a share of sales | 4.2% | 3.9% | 3.8% | 3.8% | 3.8% | 3.8% | — |
| Buybacks as a share of market value | 1.4% | 0.9% | -2.5% | 4.1% | -4.6% | -1.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.9% | 2.9% | 5.6% |
| Operating income | -15.8% | -12.6% | 0.2% |
| Net income | -26.8% | -18.8% | -3.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.6% | 27.0% | 26.4% | 28.1% |
| Operating margin | 7.8% | 8.8% | 8.7% | 8.9% |
| Net margin | 6.0% | 7.3% | 7.2% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 34.9 | 11.6 | 11.8 | 11.4 | 16.2 | 10.0 | 11.6 | 15.1 | 24.2 | 18.3 |
| Price to sales | 1.0 | 1.0 | 1.1 | 0.9 | 0.8 | 1.0 | 1.1 | 1.1 | 1.5 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 12 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.24 | 0.26 | 0.60 | 0.40 | 0.33 | 0.33 | 0.33 | 0.331 |
- 13-for-10 split · 5 Jul 2019
- 13-for-10 split · 12 Jul 2018
- 11-for-10 split · 18 Jun 2014
- 2-for-1 split · 29 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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