TacticScaleWhat China Leadshine Technology (雷赛智能) Does & How It Makes Money (002979.SZ)
Updated October 2026 · reflects China Leadshine Technology's latest reported financials
Chinese maker of motion control motors, drives and automation components. It earns revenue mainly by selling stepper and servo motors, drives, controllers and related components to equipment makers, and it bundles in industry solutions and technical support.
How China Leadshine Technology makes money
It earns revenue mainly by selling stepper and servo motors, drives, controllers and related components to equipment makers, and it bundles in industry solutions and technical support. A smaller software segment develops and sells software.
What China Leadshine Technology does
China Leadshine Technology, founded in 1997 and based in Shenzhen, is a motion control specialist. Its core business is stepper and servo motors and their drives, available as separate units, integrated units and closed-loop versions, along with fieldbus products supporting EtherCAT, EtherNet/IP, CANopen and Modbus RTU. It reports two segments: Motors and Drives, and Software. Beyond motors, Leadshine sells control products (PLCs, HMIs, remote I/O), accessories such as cables, power supplies and gearboxes, and robot components including frameless motors, joint modules and dexterous hands. It packages these into solutions for CNC machinery, laser processing, logistics, and electronics and semiconductor equipment, and backs them with selection support, system design help and after-sales service. It sells in China and exports overseas, and also has smaller activities in property services, trading and venture capital.
Products & services
- Stepper motors and drives (including closed-loop)
- Servo motors and drives
- Fieldbus products (EtherCAT, EtherNet/IP, CANopen, Modbus RTU)
- PLCs, HMIs and remote I/O modules
- Robot components: frameless motors, joint modules, dexterous hands
- Cables, power supplies and gearboxes
雷赛智能是做什么的？
雷赛智能成立于1997年，总部位于深圳，是一家专注运动控制的企业。核心产品是步进电机、伺服电机及配套驱动器，包括一体化和闭环型号，并提供支持EtherCAT、EtherNet/IP、CANopen、Modbus RTU的总线产品。公司分为电机与驱动、软件两大业务板块。 此外，公司还提供PLC、HMI、远程I/O等控制产品，线缆、电源、减速机等配件，以及无框电机、关节模组、灵巧手等机器人部件，面向数控机床、激光加工、物流、电子与半导体等行业提供解决方案和技术服务。产品内销并出口，公司另有物业服务、贸易和创业投资等少量业务。
What is China Leadshine Technology worth?
On an owner-earnings DCF, China Leadshine Technology's most-likely value is about ¥9 versus a recent price near ¥53 (501% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥3) with a margin of safety — so the honest verdict here is “Stretched — richly priced.” Fair value earns its keep only at the extremes, not in the wide middle.
Today's $53 is above even the optimistic Bull case ($21) — the market expects faster, longer growth than modeled here. Expensive unless that extra growth actually shows up.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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