002203.SHE Zhejiang Hailiang Co Ltd
- Market cap
- CNY 32.8B
- P/E
- 29.8x
- P/B
- 1.82x
- ROE
- 8.7%
- Dividend yield
- 3.45%
- Fundamental score
- -
Ratios use the latest price and the current fiscal year annualized from 3 quarters up to Sep 2026.
Is 002203.SHE undervalued?
Graham number002203.SHE trades 55.5% above its Graham number.
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Zhejiang Hailiang Co Ltd fundamental analysis
No fundamental analysis for Zhejiang Hailiang Co Ltd yet.
Zhejiang Hailiang Co Ltd stock price
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About Zhejiang Hailiang Co Ltd
Zhejiang Hailiang Co., Ltd., together with its subsidiaries, engages in the research, development, production, sale, and service of copper products, conductor materials, and aluminum-based materials in China and internationally. It operates through Copper and Aluminum Processing Business, Environmental Materials Business, and Loan Business segments. The company offers copper tube products comprising copper coils and straight tubes, brass straight tubes and coils, and copper …
Full company profileZhejiang Hailiang Co Ltd financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 3 quarters up to Sep 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Zhejiang Hailiang Co Ltd annual financial statements (CNY; K = thousand, M = million, B = billion, T = trillion)
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 17.9B | 29.9B | 40.6B | 41.3B | 46.5B | 63.3B | 73.9B | 75.6B | 87.4B | 83.3B | 99.8B |
| Gross Profit | 1.36B | 1.78B | 2.27B | 2.89B | 1.79B | 2.61B | 2.95B | 2.95B | 2.79B | 3.17B | 4.95B |
| Operating Income | 642M | 751M | 1.02B | 1.15B | 892M | 1.43B | 1.50B | 1.38B | 609M | 1.73B | 3.06B |
| EBITDA | 1.07B | 1.26B | 1.71B | 1.96B | 1.51B | 2.09B | 2.31B | 2.47B | 2.17B | 2.83B | 2.98B |
| Net Income | 551M | 705M | 908M | 1.06B | 678M | 1.11B | 1.21B | 1.12B | 703M | 943M | 1.53B |
| EPS | 0.33 | 0.42 | 0.52 | 0.54 | 0.33 | 0.52 | 0.60 | 0.51 | 0.35 | 0.41 | 0.67 |
| Balance Sheet | |||||||||||
| Total Assets | 12.8B | 15.3B | 19.2B | 24.5B | 26.3B | 32.1B | 33.5B | 40.4B | 44.5B | 48.1B | 57.6B |
| Total Liabilities | 8.12B | 9.76B | 10.8B | 14.8B | 16.1B | 20.4B | 20.1B | 23.6B | 27.5B | 28.7B | 38.0B |
| Shareholders' Equity | 4.31B | 5.18B | 7.97B | 9.40B | 9.84B | 11.1B | 12.7B | 14.1B | 14.4B | 16.8B | 17.6B |
| Cash & Short-term Investments | 1.99B | 707M | 3.47B | 4.91B | 4.65B | 4.79B | 5.11B | 7.75B | 6.59B | 5.97B | 5.71B |
| Total Debt | 2.44B | 6.07B | 4.65B | 7.35B | 7.96B | 10.5B | 11.6B | 16.5B | 16.4B | - | - |
| Cash Flow | |||||||||||
| Operating Cash Flow | 887M | -3.11B | 2.61B | 1.13B | 703M | -2.58B | 870M | -776M | -2.30B | -1.68B | - |
| Capital Expenditure | 410M | 409M | 1.28B | 1.10B | 800M | 1.53B | 2.57B | 2.22B | 1.27B | 986M | 1.90B |
| Free Cash Flow | 477M | -3.52B | 1.33B | 32.0M | -97.0M | -4.11B | -1.70B | -3.00B | -3.57B | -2.67B | -11.5B |
| Ratios | |||||||||||
| ROE | 12.8% | 13.6% | 11.4% | 11.3% | 6.9% | 10.0% | 9.5% | 7.9% | 4.9% | 5.6% | 8.7% |
| ROA | 4.3% | 4.6% | 4.7% | 4.3% | 2.6% | 3.4% | 3.6% | 2.8% | 1.6% | 2.0% | 2.7% |
| Net Profit Margin | 3.1% | 2.4% | 2.2% | 2.6% | 1.5% | 1.7% | 1.6% | 1.5% | 0.8% | 1.1% | 1.5% |
| Debt to Equity | 0.57x | 1.17x | 0.58x | 0.78x | 0.81x | 0.95x | 0.91x | 1.17x | 1.14x | - | - |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Total Debt
- Short and long-term borrowings.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
- Debt to Equity
- Total debt divided by shareholders' equity.
Zhejiang Hailiang Co Ltd dividends
- Dividend yield
- 3.45%
- Forward dividend
- 0.18 CNY
- Payout ratio
- 120.2%
- Ex-dividend date
- Oct 23, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | CNY 1.13B | 0.49 | 120.2% |
| 2024 | CNY 950M | 0.47 | 135.1% |
| 2023 | CNY 648M | 0.30 | 58.0% |
| 2022 | CNY 485M | 0.24 | 40.2% |
| 2021 | CNY 348M | 0.16 | 31.4% |
| 2020 | CNY 144M | 0.07 | 21.2% |
| 2019 | CNY 379M | 0.19 | 35.6% |
| 2018 | CNY 473M | 0.27 | 52.1% |
| 2017 | CNY 318M | 0.19 | 45.0% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Last stock split: 20:10 on Sep 18, 2014.
Who owns Zhejiang Hailiang Co Ltd
- Insiders 48.13%
- Institutions 13.28%
- Public & others 38.60%
- Shares outstanding 2.29B
- Free float 1.18B
Zhejiang Hailiang Co Ltd company profile
- Company name
- Zhejiang Hailiang Co Ltd
- Ticker
- 002203.SHE
- ISIN
- CNE1000008X5
- Exchange
- Shenzhen Stock Exchange
- Listed since
- Jan 16, 2008
- Sector
- Basic Materials
- Industry
- Metals & Mining
- Employees
- 9,367
- Fiscal year end
- December
- Address
- Diankou Town Industrial Zone, Zhuji, China, 311814
- Phone
- 86 575 8766 9333
- Website
- hailiangstock.com
About Zhejiang Hailiang Co Ltd
Zhejiang Hailiang Co., Ltd., together with its subsidiaries, engages in the research, development, production, sale, and service of copper products, conductor materials, and aluminum-based materials in China and internationally. It operates through Copper and Aluminum Processing Business, Environmental Materials Business, and Loan Business segments. The company offers copper tube products comprising copper coils and straight tubes, brass straight tubes and coils, and copper nickel straight tubes and coils; copper and brass pipe fittings; copper and brass rods; copper busbars; lithium battery and electronic circuit copper foil; aluminum flat and round tubes; honeycomb denitration catalysts; refrigerant branch pipes, rubber pipe insulation, air conditioning cable ties, and welding rods; and environmentally friendly materials. It serves the new energy, home appliance, power, semiconductor, 5G communication, and construction industries. The company also engages in the loan and financial service businesses; commodity circulation; technology research and development; investment management; property management; logistics; power generation; technical service; and leasing activities. Zhejiang Hailiang Co., Ltd. was founded in 1989 and is headquartered in Zhuji, China.
Zhejiang Hailiang Co Ltd management
5- Mr. Luming FengChairman & President · born 1986
- Mr. Dong ChenCFO & Accounting Supervisor · born 1968
- Mr. Changming WuDeputy GM & Non-Independent Director · born 1976
- Ms. Tong YingyingSecretary of the Board of Directors · born 1980
- Mr. Sheng WangDeputy General Manager · born 1969