TacticScaleWhat Zhongshan Broad-Ocean Motor (大洋电机) Does & How It Makes Money (002249.SZ)
Updated October 2026 · reflects Zhongshan Broad-Ocean Motor's latest reported financials
Chinese maker of appliance motors and electric-vehicle drive systems. It sells motors, fan systems and drive systems to appliance, HVAC and vehicle manufacturers, which build them into their own products.
How Zhongshan Broad-Ocean Motor makes money
It sells motors, fan systems and drive systems to appliance, HVAC and vehicle manufacturers, which build them into their own products. Its main revenue lines are building and home appliance motors, new energy vehicle powertrains and vehicle rotating electrical parts.
What Zhongshan Broad-Ocean Motor does
Zhongshan Broad-Ocean Motor, founded in 1994 and based in Zhongshan, China, makes motor systems. Its original and core business is motors for building and home appliances: household and commercial air conditioners, building ventilation, kitchen appliances, garage doors and water pumps, plus compressor motors and fan systems for HVAC equipment. Building on that motor expertise, the company supplies new energy vehicle powertrain systems (drive motors, controllers, electric drive assemblies, range extender generators and BSG motor systems) and traditional vehicle rotating electrical parts such as starters and alternators. It is also working on hydrogen fuel cell engines and core parts like high-speed centrifugal air compressors, hydrogen circulation systems and cooling fans. This gives it exposure to both appliance and HVAC demand and the shift to electric and hydrogen vehicles.
Products & services
- Air conditioner and HVAC fan motors
- Commercial air conditioner compressor motors
- EV drive motors, controllers and electric drive assemblies
- Range extender generators and BSG motor systems
- Vehicle starters and alternators (rotating electrical appliances)
- Hydrogen fuel cell engines and air compressors
大洋电机是做什么的？
中山大洋电机股份有限公司成立于1994年，总部位于广东中山，主营电机系统。核心业务是建筑及家电电机，产品用于家用和商用空调、建筑通风设备、厨房电器、自动车库门和水泵，也供应商用空调压缩机电机和暖通空调风机系统。 在电机技术的基础上，公司拓展到新能源汽车动力总成，包括驱动电机、控制器、电驱总成、增程器发电机和BSG电机系统，同时生产起动机、发电机等车用旋转电器。公司还布局氢燃料电池发动机及其核心零部件，如高速离心式空压机、氢气循环系统和散热风扇。业务横跨家电暖通和新能源汽车两个领域。
What is Zhongshan Broad-Ocean Motor worth?
On an owner-earnings DCF, Zhongshan Broad-Ocean Motor's most-likely value is about ¥10 versus a recent price near ¥6 (35% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥5) 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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