Sanbian Sci Tech Co., Ltd.

002112.SZ · SHZ

Company research

Sanbian Sci Tech Co., Ltd. (002112.SZ) is a China-based, state-owned high-tech enterprise listed on the Shenzhen Stock Exchange, founded in 1968 and headquartered in Taizhou, Zhejiang Province. The company specializes in the production, repair, maintenance, and sale of a broad range of electrical power equipment, including oil-immersed power transformers (up to 500kV), dry-type transformers, reactors, motors, combined substations, amorphous alloy transformers, low-voltage complete electrical systems, and power transmission and distribution apparatus, serving both domestic and international markets. With an annual production capacity exceeding 150 million kVA across 12 product series and over 160 specifications compliant with IEC standards, the company operates advanced manufacturing facilities equipped with technology imported from Germany, the United States, and Japan. Formerly known as SAN BIAN SCIENCE & TECHNOLOGY Co., LTD., the company rebranded to its current name in May 2024, and had a market capitalization of approximately CNY 4.05 billion as of mid-2025.

Research reports

Simply Wall St · May 26, 2026Sanbian Sci Tech (SZSE:002112) - Stock Analysis

This automated fundamental report reviews Sanbian Sci Tech’s valuation (TTM P/E ~334x, net margin ~0.8%) and financial health, highlighting very thin profitability and high earnings multiple alongside moderate balance-sheet strength. It flags margin compression, volatile share-price behaviour and one-off items as key risks, framing the stock as fundamentally fragile despite strong multi‑year share-price gains and suggesting careful, valuation‑aware monitoring rather than a clear buy or sell stance.

Eastmoney Caifuhao · February 8, 2026三变科技投资研报核心摘要

This Caifuhao note from Eastmoney presents Sanbian Sci Tech as a niche leader in power transmission and new‑energy transformer equipment with three major growth pillars: grid transformers, storage solutions and overseas expansion, supported by detailed industry, technology and order‑book analysis. At the same time it stresses that 2025 net profit is expected to fall about 85–90% year-on-year amid weaker new‑energy orders and copper price pressure, judging the current ~90x PE as stretched, outlining significant cash‑flow and receivables risks, and recommending long‑term investors accumulate only on pullbacks while short‑term traders avoid chasing and use strict stop‑losses.

A股研报(Aguyanbao) · January 19, 2026三变科技(002112)研究报告 - 2026年1月19日更新

This independent A股研报 blog delivers a multi‑section research report (technical, fundamentals, valuation and trading plan) and concludes with a clear “卖出” (sell) recommendation, arguing that a roughly 60x PE and 7.42x PB are unsustainably high given ROE around 5.3% and net margin near 3.2%. It emphasizes extreme technical overbought signals (RSI >77, price near the Bollinger upper band, high-volume reversal) together with fragile fundamentals and lays out staged downside targets and short‑selling tactics, warning that risk–reward is heavily skewed to the downside as valuation normalizes.

Simply Wall St (via Moomoo) · November 4, 2025Investors Could Be Concerned With Sanbian Sci Tech's (SZSE:002112) Returns

This Simply Wall St article focuses on return on capital employed (ROCE), noting that Sanbian Sci Tech’s ROCE has fallen from about 13% to 8.6% over five years even as capital employed increased and revenue slipped, implying weakening capital efficiency and possible loss of competitive edge. It highlights a high ratio of current liabilities to total assets (around 53%), cautions that suppliers are funding much of the business, and explicitly states the authors would steer clear of the stock for now, making the overall stance clearly negative.

MarketsMojo · October 27, 2025Sanbian Sci Tech Co., Ltd. (002112) Stock Analysis

MarketsMojo’s dashboard-style research flags Sanbian Sci Tech as a high‑debt company with expensive valuation metrics (P/E about 33x, P/B ~3.9x, EV/EBIT and EV/EBITDA both elevated) and identifies recent quarterly net sales and net profit declines, describing the latest results as “Very Negative”. It presents multi‑year growth, leverage and margin statistics alongside predominantly bearish technical indicators (MACD mildly bearish, moving averages bearish, mixed signals elsewhere) and characterizes the name as a high‑risk, high‑volatility stock where fundamentals and valuation do not support a constructive near‑term view.