TacticScaleWhat Zhejiang Chint Electrics (正泰电器) Does & How It Makes Money (601877.SS)
Updated October 2026 · reflects Zhejiang Chint Electrics's latest reported financials
Chinese maker of low-voltage electrical, grid, and metering equipment. It earns revenue by manufacturing and selling electrical components, power distribution equipment, and meters to customers in China.
How Zhejiang Chint Electrics makes money
It earns revenue by manufacturing and selling electrical components, power distribution equipment, and meters to customers in China. It also sells bundled equipment for specific industries such as utilities, buildings, data centers, solar and storage, mining, and oil and gas.
What Zhejiang Chint Electrics does
Zhejiang Chint Electrics, founded in 1984 and headquartered in Yueqing, China, develops and sells low-voltage electrical products through its subsidiaries. Its core range covers circuit breakers, AC contactors, fuses, busbars, and surge protectors. It also offers power transmission and distribution equipment such as oil-immersed transformers, mobile substations, and ring main units, plus distribution boxes, enclosures, and PV combiner boxes. The company also makes gas and electricity meters, including smart meters, data concentrators, and gateways, as well as EV charging equipment and electrical calculation software. It packages these products into solutions for utilities, buildings, data centers, HVAC and elevators, residential, commercial, and utility-scale solar and storage, rail transit, metallurgy, mining, and oil and gas.
Products & services
- Low-voltage circuit breakers and AC contactors
- MV oil-immersed transformers and ring main units
- NX9/NX9G power distribution boxes and EnergiX-M distribution boards
- CHS-series single and three phase smart meters
- EC2A EV charger
- Chint Elec-Calc electrical calculation software
正泰电器是做什么的？
浙江正泰电器股份有限公司成立于1984年，总部位于浙江乐清，通过子公司研发和销售低压电器产品。核心产品包括断路器、交流接触器、熔断器、母线和浪涌保护器。公司还提供输配电设备，如油浸式变压器、移动变电站和环网柜，以及配电箱、配电柜和光伏汇流箱。 公司还生产燃气表和电表，包括智能电表、数据集中器和智能网关，并有电动车充电产品和电气计算软件。公司把这些产品组合成面向不同行业的解决方案，覆盖电网、楼宇、数据中心、暖通和电梯、户用、工商业及地面光伏储能、轨道交通、冶金、矿山和石油石化等领域。
What is Zhejiang Chint Electrics worth?
On an owner-earnings DCF, Zhejiang Chint Electrics's most-likely value is about ¥22 versus a recent price near ¥26 (18% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥11) 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.
⚠ High leverage — net debt is 16.8× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
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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