Company Profile · Industrials

Hangcha Group Co Ltd

603298 · Shanghai
Industry
Construction Machinery
Exchange
Shanghai
Country
China
Employees
7,233
Website
www.zjhc.cn
Current Price
¥21.87
Live · Oct 5, 2026
Fair Buy
≤ ¥16
Margin-of-safety entry
Baillie Growth Score
45/100
Weak
Buffett Score
76/100
Strong
Intrinsic Value · Three-Tier Range Current price ¥21.87 Live · Between the conservative and fair ranges

Composite valuation range · conservative ¥14.5–¥16 / fair ¥23.4–¥31.6 / optimistic ¥39–¥42. At ¥21.87, Between the conservative and fair ranges.

At publication ¥23.52 (Sep 21, 2026)

Financial snapshot
Market capCN¥28.65B
Revenue (TTM)CN¥18.54B
EBITDACN¥2.71B
Profit margin12.35%
ROE19.31%
P/E (TTM)12.5
Forward P/E0
EPSCN¥1.75
Dividend yield2.74%
52-week rangeCN¥21.40 – CN¥31.43

Data from EODHD, shown in the reporting currency; for reference only, not investment advice.

About the company

Hangcha Group Co., Ltd manufactures and sells forklift products in China and internationally. The company offers lithium e-trucks, e-trucks, IC - trucks, pallet trucks, and reach trucks; and pallet stackers, order pickers, tow tractors, very narrow aisle trucks, rough terrain trucks, aerial platforms, port machinery, explosion proof forklifts, AMRs, and AGVs. It also provides spare parts; bulk supply of forklift forks, seat, and tyre; industrial vehicle product accessories, sells parts and kits, vehicle repair, vehicle modification, industrial vehicle leasing, leasing of intelligent handling robots. The company serves retail/wholesale, food/pharma, transport/logistics, manufacturing, automotive, ports/terminals, chemical/energy, forestry/wood, and other industries. Hangcha Group Co., Ltd was founded in 1956 and is headquartered in Hangzhou, China.

Background

History

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Industry position

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Research on this stock
45/100 Hold Hangcha Group: Gross Margin Up to 24.6% on Less Than 9% Revenue Growth, Robotics at 7% of Sales with Undisclosed Economics, and Three-Year Cash Conversion of 79% Hangcha Group is a Chinese forklift and industrial-vehicle maker, selling internal-combustion, new-energy and warehouse trucks through more than 300 overseas dealers and 60 direct subsidiaries, with a still-small intelligent-logistics robotics unit. Gross margin rose from 20.7% in 2023 to 24.6% in 2025 while revenue grew less than 9%, and first-half 2026 revenue rose 8.65% to CNY 10.10bn with attributable profit up 8.89% to CNY 1.215bn; but 2023–25 operating cash flow equalled only about 79% of attributable profit and the board has proposed a CNY 2.259bn convertible. Rating Hold: at CNY 23.52 the stock sits just inside the acceptable-hold band and above the CNY 18–20 conservative value, so the report waits for CNY 14.5 to 16. Hangcha Group Co., Ltd.603298 · ShanghaiConstruction MachinerySep 21, 2026