TacticScaleWhat Keda Industrial (科达制造) Does & How It Makes Money (600499.SS)
Updated October 2026 · reflects Keda Industrial's latest reported financials
Chinese maker of ceramic tile machinery, building materials, and battery materials. Most of its revenue comes from selling ceramic and building-materials machinery, complete production lines, and spare parts to tile makers.
How Keda Industrial makes money
Most of its revenue comes from selling ceramic and building-materials machinery, complete production lines, and spare parts to tile makers. It also earns money from its own ceramic tiles and building materials, lithium-ion battery materials, hydraulic components, and energy and environmental services.
What Keda Industrial does
Keda Industrial Group, founded in 1992 and headquartered in Foshan, is a Chinese maker of ceramic machinery. It supplies tile manufacturers with presses, kilns, polishing and squaring machines, and complete intelligent post-kiln production lines, along with spare parts and grinding tools. The company was known as Keda Clean Energy until it took its current name in July 2020. Beyond machinery, Keda produces building ceramics, sanitary ware, and wall and stone materials, and it makes lithium-ion battery materials. It also sells hydraulic pumps and motors, clean coal gasification and flue gas treatment equipment, and integrated solar-plus-storage services such as power trading, charging systems, and carbon asset trading. Smaller lines include IT services and waste treatment.
Products & services
- Ceramic tile presses and kilns
- Polishing, squaring and intelligent post-kiln production lines
- Ceramic tiles, glass and sanitary ware
- Lithium-ion battery materials
- Hydraulic pumps and bent-axis piston motors
- Integrated solar-storage-charging solutions
科达制造是做什么的？
科达制造成立于1992年，总部位于广东佛山，是中国的陶瓷机械制造商。公司为瓷砖厂提供压机、窑炉、抛光磨边设备和智能窑后整线，也销售配件和磨具。公司原名科达洁能，2020年7月更名为现名。 除了机械，公司还生产建筑陶瓷、卫浴洁具、墙材和石材，并做锂电池材料。其他业务包括液压泵与马达、清洁煤气化和烟气治理设备，以及光储充一体化、电力交易和碳资产交易等能源服务。公司另有信息技术服务和废弃物处理业务。
What is Keda Industrial worth?
On an owner-earnings DCF, Keda Industrial's most-likely value is about ¥19 versus a recent price near ¥11 (40% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥7) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
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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