Does China National Electric Apparatus Research Institute Co., Ltd. have an economic moat?

China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) has a Quality factor score of 72/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the financial characteristics of a moated business.

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688128.SS

BUYREMOVE

China National Electric Apparatus Research Institute Co., Ltd. · Industrials · China · $1.5B · Avg Vol: $16M/d

StockRank

P/E (TTM)

19.7x

ROE

15.6%

D/E

0.0x

Dividend %

2.2%

Director Trades · 180d

None in 180d →

Buybacks · 180d

None in 180d →

AI CONVICTION THESIS

China National Electric Apparatus Research Institute focuses on electrical testing and research. While it has exposure to power grid standards, it lacks a global moat and is highly dependent on domestic Chinese infrastructure spend.

COMPANY DESCRIPTION

China National Electric Apparatus Research Institute Co., Ltd. provides electrical equipment research, testing services, and intelligent manufacturing equipment. Leveraging its national-level research heritage, the company holds authoritative testing and certification credentials that serve as a high-barrier competitive moat. It operates as a market leader in China's electrical product testing and customized environmental testing equipment sectors.

FINANCIAL SUMMARY

Year	2022	2023	2024	2025	CAGR
Revenue	561M	617M	668M	704M	7.9%
EPS	0.13	0.15	0.17	0.20	13.6%
Shares	405M	405M	405M	405M	0.0%
Debt	19M	14M	17M	16M	-5.1%
Equity	393M	433M	476M	527M	10.2%
Op CF	104M	59M	78M	179M	19.8%
Inv CF	-25M	-43M	-24M	-107M	—
Fin CF	-25M	-30M	-32M	-39M	—

PRICE (1M)-0.1%

SMA 50SMA 200

$3.95

RSI (14)

54.3

52W High

$5.61

From 52W High

0.7%

SCORE BREAKDOWN

Quality

ROIC

16.1%83.0

ROE

15.6%78.7

GP/Assets

18.6%57.3

Op. Margin

12.8%71.3

FCF/Assets

9.5%85.2

Piotroski

—75.7

Int. Cover

50.0x90.2

D/E Ratio

0.02x89.9

Current Ratio

1.27x28.0

Value

P/E (TTM)

19.7x52.4

EV/EBITDA

13.2x41.0

P/FCF

85.6x66.3

P/B

3.0x34.9

P/S

2.2x38.0

Div Yield

2.2%55.6

Momentum

52W High %

70%33.1

RS 6M

-13%50.0

SMA 50/200

0.91x18.4

EPS Rev 4W

—N/A

EPS Rev 12W

—N/A

EPS Improve

+15%27.6

Q Growth

6%47.2

FUNDAMENTALS

Market Cap

$1.5B

P/E (Forward)

17.1x

Gross Margin

32.5%

SECTOR PEERS

Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of 688128.SS are excluded.

Ticker	Company	Mkt Cap	StockRank	Signal
688128.SS	China National Electric Apparatus Research Institute Co., Ltd.(you)	$1.5B	69	BUY
601222.SS	Jiangsu Linyang Energy Co., Ltd.	$2.0B	72	BUY
301608.SZ	Shenzhen Boshijie Technology Co., Ltd.	$1.1B	67	BUY
603897.SS	Zhejiang grandwall electric science&technology co.,ltd.	$1.5B	80	STRONG BUY
002546.SZ	Nanjing Xinlian Electronics Co., Ltd	$928M	71	BUY
603303.SS	Hengdian Group Tospo Lighting Co., Ltd.	$2.0B	64	HOLD
301031.SZ	Xi'an Sinofuse Electric Co., Ltd.	$2.6B	70	BUY
002993.SZ	Dongguan Aohai Technology Co., Ltd.	$2.6B	70	BUY
603855.SS	Warom Technology Incorporated Company	$873M	67	BUY
000682.SZ	Dongfang Electronics Co., Ltd.	$2.8B	69	BUY

Peer medians: ROE 6.0% · P/E 34.8x · Gross margin 22.9%

China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) — Stock Score Summary

China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) has a MoatMap StockRank of 69/100 based on Quality (72/100), Value (49/100), and Momentum (36/100) factor scores. The current signal is BUY. China National Electric Apparatus Research Institute focuses on electrical testing and research. While it has exposure to power grid standards, it lacks a global moat and is highly dependent on domestic Chinese infrastructure spend.

Key Financial Metrics

Price	$3.95
Market Cap	$1.5B
P/E (TTM)	19.66
P/E (Forward)	17.10
Price/Book	2.95
Return on Equity	15.6%
Return on Invested Capital	16.1%
Debt/Equity	2.38
Gross Margin	32.5%
Operating Margin	12.8%
Revenue Growth	4.2%
Dividend Yield	2.2%
Free Cash Flow	$17M

China National Electric Apparatus Research Institute Co., Ltd. operates in the Electrical Equipment & Parts industry, part of the Industrials sector (China).

Frequently Asked Questions

What is China National Electric Apparatus Research Institute Co., Ltd.’s (688128.SS) StockRank?: MoatMap’s StockRank for China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) is 69/100, with a Buy signal. It is a composite of Quality (72), Value (49), and Momentum (36) factor ranks across MoatMap’s 19,000+ stock universe.
Does China National Electric Apparatus Research Institute Co., Ltd. have an economic moat?: China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) has a Quality factor score of 72/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the characteristics of a moated business.
Is China National Electric Apparatus Research Institute Co., Ltd. a buy, hold, or sell?: MoatMap’s current signal for China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) is Buy, based on a StockRank of 69/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.
What sector is China National Electric Apparatus Research Institute Co., Ltd. in?: China National Electric Apparatus Research Institute Co., Ltd. (688128.SS) operates in the Industrials sector, specifically the Electrical Equipment & Parts industry (China).