002451.SHE Shanghai Morn Electric Equipment Co Ltd
- Market cap
- CNY 2.99B
- P/E
- 339.5x
- P/B
- 3.73x
- ROE
- 1.1%
- Dividend yield
- 0.88%
- Fundamental score
- -
Ratios use the latest price and the current fiscal year annualized from 3 quarters up to Sep 2026.
Is 002451.SHE undervalued?
Graham numberThe Graham number of Shanghai Morn Electric Equipment Co Ltd cannot be estimated reliably (the estimate is too far from the market price).
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?
Shanghai Morn Electric Equipment Co Ltd fundamental analysis
No fundamental analysis for Shanghai Morn Electric Equipment Co Ltd yet.
Shanghai Morn Electric Equipment Co Ltd stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Shanghai Morn Electric Equipment Co Ltd
Shanghai Morn Electric Equipment Co., Ltd., together with its subsidiaries, engages in the research, design, development, production, and sale of cables in China. The company operates in two segments, Cable and Quasi-Financial. It offers power and electrical equipment cables, including aluminum alloy, mineral insulated flexible fire-proof, LV and MV fire-resistant power, ceramic high-temperature fire-resistant, metal flexible pipe equipment, frequency converter, shielding an…
Full company profileShanghai Morn Electric Equipment 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.
Shanghai Morn Electric Equipment 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 | 501M | 467M | 585M | 367M | 454M | 1.14B | 1.08B | 1.09B | 1.34B | 1.58B | 1.62B |
| Gross Profit | 122M | 181M | 131M | 68.2M | 75.0M | 128M | 136M | 125M | 117M | 143M | 149M |
| Operating Income | 8.43M | 86.4M | 17.7M | 49.2M | 11.0M | 14.3M | 23.6M | 19.4M | 18.1M | 54.0M | 46.6M |
| EBITDA | 87.4M | 155M | 86.9M | 104M | 65.7M | 71.1M | 85.1M | 83.4M | 84.9M | 99.6M | 43.8M |
| Net Income | 8.70M | 59.2M | 8.38M | 36.5M | 7.46M | 12.8M | 14.7M | 16.2M | 17.9M | 10.6M | 8.18M |
| EPS | 0.02 | 0.13 | 0.02 | 0.08 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 | 0.02 | 0.02 |
| Balance Sheet | |||||||||||
| Total Assets | 1.77B | 1.63B | 1.59B | 1.21B | 1.23B | 1.41B | 1.64B | 1.65B | 1.74B | 2.05B | 2.19B |
| Total Liabilities | 1.10B | 976M | 931M | 505M | 520M | 574M | 794M | 796M | 868M | 1.11B | 1.24B |
| Shareholders' Equity | 670M | 652M | 661M | 697M | 705M | 745M | 747M | 755M | 765M | 773M | 773M |
| Cash & Short-term Investments | 136M | 80.1M | 99.9M | 147M | 83.6M | 88.2M | 122M | 159M | 130M | 325M | 239M |
| Total Debt | 482M | 267M | 385M | 371M | 307M | 375M | 567M | 547M | 441M | - | - |
| Cash Flow | |||||||||||
| Operating Cash Flow | -12.2M | 81.0M | 64.6M | 330M | -30.9M | -408M | -49.3M | 121M | -16.5M | -1.69M | - |
| Capital Expenditure | 5.52M | 16.8M | 4.96M | 27.4M | 11.3M | 11.4M | 74.3M | 10.6M | 57.9M | 78.6M | 41.8M |
| Free Cash Flow | -17.8M | 64.2M | 59.6M | 303M | -42.2M | -420M | -124M | 110M | -74.4M | -80.3M | -289M |
| Ratios | |||||||||||
| ROE | 1.3% | 9.1% | 1.3% | 5.2% | 1.1% | 1.7% | 2.0% | 2.1% | 2.3% | 1.4% | 1.1% |
| ROA | 0.5% | 3.6% | 0.5% | 3.0% | 0.6% | 0.9% | 0.9% | 1.0% | 1.0% | 0.5% | 0.4% |
| Net Profit Margin | 1.7% | 12.7% | 1.4% | 10.0% | 1.6% | 1.1% | 1.4% | 1.5% | 1.3% | 0.7% | 0.5% |
| Debt to Equity | 0.72x | 0.41x | 0.58x | 0.53x | 0.44x | 0.50x | 0.76x | 0.72x | 0.58x | - | - |
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.
Shanghai Morn Electric Equipment Co Ltd dividends
- Dividend yield
- 0.88%
- Forward dividend
- 0.01 CNY
- Payout ratio
- 248.8%
- Ex-dividend date
- Jun 1, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | CNY 26.3M | 0.06 | 248.8% |
| 2024 | CNY 22.3M | 0.05 | 124.9% |
| 2023 | CNY 25.1M | 0.06 | 155.1% |
| 2022 | CNY 39.7M | 0.08 | 270.7% |
| 2021 | CNY 12.4M | 0.03 | 96.6% |
| 2020 | CNY 11.6M | 0.03 | 155.0% |
| 2019 | CNY 24.9M | 0.05 | 68.2% |
| 2018 | CNY 41.3M | 0.10 | 492.7% |
| 2017 | CNY 90.0M | 0.20 | 151.9% |
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 Apr 24, 2014.
Who owns Shanghai Morn Electric Equipment Co Ltd
- Insiders 39.18%
- Institutions 0.66%
- Public & others 60.17%
- Shares outstanding 440M
- Free float 253M
Shanghai Morn Electric Equipment Co Ltd company profile
- Company name
- Shanghai Morn Electric Equipment Co Ltd
- Ticker
- 002451.SHE
- ISIN
- CNE100000RT9
- Exchange
- Shenzhen Stock Exchange
- Listed since
- Jul 20, 2010
- Sector
- Industrials
- Industry
- Electrical Equipment
- Employees
- 399
- Fiscal year end
- December
- Address
- No. 2829 Jiangshan Road, Shanghai, China, 201306
- Phone
- 86 21 6809 9820
- Website
- mornelectric.com
About Shanghai Morn Electric Equipment Co Ltd
Shanghai Morn Electric Equipment Co., Ltd., together with its subsidiaries, engages in the research, design, development, production, and sale of cables in China. The company operates in two segments, Cable and Quasi-Financial. It offers power and electrical equipment cables, including aluminum alloy, mineral insulated flexible fire-proof, LV and MV fire-resistant power, ceramic high-temperature fire-resistant, metal flexible pipe equipment, frequency converter, shielding and chemical resistance, encoder, oil resistant corrosion split-phase comprehensive sheath, high and low temperature resistant, and other cable products under the Morn brand name. The company also engages in factoring; debt collection services; investment activities; property management; hotel accommodation; and trading. Its products are used in power, rail transportation, construction engineering, new energy, communications, ships, intelligent equipment, metallurgy, petrochemicals, port machinery and marine engineering, mining, and other fields. The company was founded in 1997 and is headquartered in Shanghai, China.
Shanghai Morn Electric Equipment Co Ltd management
3- Ms. Zhi Lan ZhuChairman & GM · born 1980
- Ms. Jiafei GuanFinancial Director & Head of Accounting Department · born 1983
- Mr. Shengzhi HuangBoard Secretary & Director · born 1993