TacticScaleWhat Shenzhen Kedali Industry (科达利) Does & How It Makes Money (002850.SZ)
Updated October 2026 · reflects Shenzhen Kedali Industry's latest reported financials
Chinese maker of precision battery casings and automotive structural parts. It makes precision structural components and sells them to battery makers and automotive manufacturers in China and abroad.
How Shenzhen Kedali Industry makes money
It makes precision structural components and sells them to battery makers and automotive manufacturers in China and abroad. Demand is driven by electric vehicles, consumer electronics, power tools and energy storage.
What Shenzhen Kedali Industry does
Shenzhen Kedali Industry, founded in 1996 and headquartered in Shenzhen, supplies precision structural components for lithium-ion batteries. Its range covers prismatic and cylindrical cans, explosion-proof lids and caps, aluminum and copper-aluminum terminals, collectors and busbars. These parts go into batteries for power (EV), consumer electronics and energy storage uses. The company also has an automotive components business. It makes seat parts, armatures, central control instrument parts, EPB electric motor assemblies and door handles, along with EV high-power connectors, motor terminal blocks, and inverter modules for PV, EV and HEV applications. It sells in China and internationally, and its end markets include new energy vehicles, portable electronics, power tools and energy storage stations.
Products & services
- Prismatic and cylindrical battery cans
- Explosion-proof battery lids/caps
- Aluminum and Cu-Al compound terminals
- Copper and Cu-Al busbars
- EV high-power connectors and inverter modules
- Auto parts (seats, door handles, EPB motor assemblies)
科达利是做什么的？
科达利成立于1996年，总部位于深圳，主要研发、生产和销售锂电池精密结构件。产品包括方形和圆柱电池壳、防爆盖板、铝端子和铜铝复合端子、集流体和汇流排等，用于动力电池、消费电子电池和储能电池。 公司还生产汽车结构件，包括座椅部件、电枢、中控仪表部件、EPB电机总成、门把手，以及新能源车高压连接器、电机接线盒和光伏/电动车/混动逆变器模块。产品销往国内外，应用于新能源汽车、便携电子产品、电动工具和储能电站等领域。
What is Shenzhen Kedali Industry worth?
On an owner-earnings DCF, Shenzhen Kedali Industry's most-likely value is about ¥18 versus a recent price near ¥152 (757% above 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 “Stretched — richly priced.” Fair value earns its keep only at the extremes, not in the wide middle.
Today's $152 is above even the optimistic Bull case ($33) — 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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