Credit Brief — Suzhou Dongshan Precision Manufacturing Co.,Ltd (东山精密)
002384.SZ · Shenzhen Main Board · Data window: 2022–2026 H1 · Sources: official periodic reports filed via cninfo (巨潮资讯网)
All figures are extracted mechanically from official filings and are traceable to source page (see §9). Narrative sections are analyst commentary; mechanical sections are produced without any LLM. Not investment advice. Not a credit rating.
1. Identity & legitimacy
- Legal representative: 袁永刚
- Registered address: 苏州吴中经济开发区善丰路 288 号
- Office address: 苏州市吴中区太湖东路 99 号运河小镇总部产业园 12 号楼
- Actual controller: 袁永刚、袁永峰、袁富根
- Employees: 39,245
Source: identity fields above are mechanically extracted from the issuer's own filed annual reports. - Registration data via corporate registry is not included in this build
2. Compliance & legal
Compliance screens (dishonest debtor / enforcement / penalties / business exceptions) require a registry data source not included in this build
3. Business profile
Top customer/supplier tables not generated for this issuer.
4. Financial dashboard (CNY mn)
Assets
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Cash and bank balances | 7,131.2 | 7,190.0 | 7,172.3 | 7,650.3 | 8,792.8 |
| Trading financial assets | 575.8 | 146.1 | 78.1 | 201.6 | 796.6 |
| Accounts receivable | 7,006.4 | 7,713.2 | 7,663.5 | 9,792.7 | 10,598.3 |
| Other receivables | 35.8 | 77.1 | 45.8 | 165.9 | 199.2 |
| Inventories | 6,165.7 | 6,293.9 | 6,152.7 | 8,928.9 | 11,418.0 |
| Long-term equity investments | 139.8 | 155.4 | 155.0 | 126.6 | 121.1 |
| Fixed assets | 10,673.7 | 12,415.3 | 13,595.2 | 16,586.8 | 17,187.7 |
| Construction in progress | 1,813.2 | 1,842.5 | 2,575.2 | 2,346.0 | 4,514.3 |
| Intangible assets | 302.6 | 863.7 | 962.6 | 1,321.1 | 1,337.8 |
| Total assets | 40,802.6 | 44,371.7 | 46,014.2 | 60,250.5 | 69,167.4 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 7,794.4 | 5,156.1 | 4,811.0 | 8,011.5 | 9,630.4 |
| Notes payable | 2,008.4 | 909.2 | 935.6 | 1,002.8 | 616.7 |
| Accounts payable | 5,986.3 | 8,039.1 | 9,659.3 | 13,043.1 | 15,735.5 |
| Contract liabilities | 26.2 | 29.0 | 122.6 | 474.7 | 459.7 |
| Other payables | 54.3 | 80.2 | 94.2 | 705.3 | 154.5 |
| Current portion of non-current liabilities | 1,189.7 | 2,496.7 | 2,459.0 | 3,488.3 | 2,975.5 |
| Long-term borrowings | 3,197.8 | 4,706.3 | 5,289.2 | 6,375.1 | 9,440.5 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total liabilities | 24,377.0 | 26,181.4 | 27,128.1 | 38,548.7 | 44,618.3 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 1,709.9 | 1,709.9 | 1,705.9 | 1,831.6 | 1,831.6 |
| Capital reserve | 8,054.9 | 8,063.8 | 7,992.3 | 9,257.9 | 9,364.9 |
| Retained earnings | 7,297.4 | 9,025.1 | 9,288.0 | 10,538.4 | 13,397.9 |
| Equity attributable to owners of the parent | 16,378.6 | 18,143.0 | 18,826.4 | 21,461.1 | 24,366.8 |
| Minority interests | 46.9 | 47.3 | 59.7 | 240.7 | 182.3 |
| Total equity | 16,425.6 | 18,190.4 | 18,886.1 | 21,701.8 | 24,549.1 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 31,580.1 | 33,651.2 | 36,770.4 | 40,124.9 | 27,797.7 |
| Cost of sales | 26,020.7 | 28,541.6 | 31,615.0 | 34,472.7 | 22,196.1 |
| Selling expenses | 353.0 | 362.1 | 454.0 | 445.1 | 268.1 |
| Administrative expenses | 815.7 | 957.3 | 1,112.4 | 1,414.6 | 897.5 |
| Finance costs | 199.6 | 189.1 | -58.7 | 262.5 | 545.8 |
| Investment income | -0.9 | 4.2 | -22.0 | -9.3 | 33.7 |
| Operating profit | 2,846.5 | 2,064.8 | 1,479.6 | 1,268.9 | 3,503.4 |
| Profit before tax | 2,840.9 | 2,191.1 | 1,467.7 | 1,690.4 | 3,488.5 |
| Net profit | 2,368.1 | 1,965.1 | 1,085.1 | 1,393.0 | 2,984.6 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 1.23x | 1.26x | 1.18x | 1.01x | 1.10x |
| Quick ratio | 0.89x | 0.90x | 0.86x | 0.69x | 0.74x |
| Debt-to-asset ratio | 59.7% | 59.0% | 59.0% | 64.0% | 64.5% |
| Total debt / EBITDA | 3.17x | 3.51x | 4.54x | 5.29x | 4.09x |
| EBITDA interest coverage | 19.26x | 18.60x | 47.15x | 12.88x | 9.88x |
| Gross margin | 17.6% | 15.2% | 14.0% | 14.1% | 20.2% |
| Net margin | 7.5% | 5.8% | 3.0% | 3.5% | 10.7% |
| Return on equity (ROE) | 14.4% | 10.8% | 5.7% | 6.4% | 12.2% |
| Revenue growth | — | 6.6% | 9.3% | 9.1% | -30.7% |
| Net profit growth | — | -17.0% | -44.8% | 28.4% | 114.3% |
| Receivable days | 81 | 84 | 76 | 89 | 139 |
| Cash received / revenue | 97.2% | 97.3% | 100.3% | 100.4% | 98.3% |
| Operating CF / net profit | 1.96x | 2.63x | 4.60x | 3.81x | 0.80x |
| Free cash flow | 4,084.8 | 2,943.2 | 4,288.2 | 4,043.5 | 1,931.5 |
Mechanical risk flags
- ⚠ Current ratio: 1.01 (level: medium, reference threshold: <1.5)
- ⚠ Quick ratio: 0.69 (level: medium, reference threshold: <1.0)
- ⚠ Debt-to-asset ratio: 0.64 (level: high, reference threshold: <0.65)
- ⚠ Gross margin: 0.14 (level: medium, reference threshold: <0.15)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: 187.5 vs 58.8 CNY mn (deviation 68.62%, severity mid)
Sources: 2023年年度报告.pdf p.77 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.69 「货币资金」. CF-statement figure above the balance-sheet movement by 128.6 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2024 · Cash-flow statement net increase vs balance-sheet cash movement: -300.9 vs -17.7 CNY mn (deviation 94.12%, severity mid)
Sources: 2024年年度报告.pdf p.85 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.77 「货币资金」. CF-statement figure below the balance-sheet movement by 283.2 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2025 · Cash-flow statement net increase vs balance-sheet cash movement: 761.1 vs 478.0 CNY mn (deviation 37.2%, severity mid)
Sources: 2025年年度报告.pdf p.81 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.72 「货币资金」. CF-statement figure above the balance-sheet movement by 283.2 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2026Q2 · Cash-flow statement net increase vs balance-sheet cash movement: 842.8 vs 1,142.5 CNY mn (deviation 26.23%, severity mid)
Sources: 2026年半年度报告.pdf p.49 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.41 「货币资金」. CF-statement figure below the balance-sheet movement by 299.7 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review.
4 check(s) not run for missing inputs: 前五大应收 vs BS 应收账款; 前五大其他应收 vs BS 其他应收款; 前五大预付 vs BS 预付款项; 授信表内总合计 vs Σ机构行.
Premium tier. The analyst red-flag review and the industry-context commentary (sections 7–8 of the full brief) are not included in this free build. Join the waitlist for early access.
9. Method & provenance
All financial figures above were extracted mechanically from the company's official periodic reports (unit-normalized to CNY). Each key figure carries cell-level provenance — source file, page and original line item. Samples (latest annual period):
| Item | Period | Value (CNY mn) | Source file | Page | Raw line item | Raw value (as filed) |
|---|---|---|---|---|---|---|
| Cash and bank balances | 2025 | 7,650.3 | 2025年年度报告.pdf | 72 | 货币资金 | 7650283509.1 (元) |
| Total assets | 2025 | 60,250.5 | 2025年年度报告.pdf | 73 | 资产总计 | 60250537094.98 (元) |
| Accounts receivable | 2025 | 9,792.7 | 2025年年度报告.pdf | 72 | 应收账款 | 9792745060.06 (元) |
| Fixed assets | 2025 | 16,586.8 | 2025年年度报告.pdf | 73 | 固定资产 | 16586762231.15 (元) |
| Short-term borrowings | 2025 | 8,011.5 | 2025年年度报告.pdf | 73 | 短期借款 | 8011474049.03 (元) |
This brief is built solely on officially filed public disclosures. It is not investment advice, not a credit rating, and not an offer of any service. Figures may contain extraction or caliber effects; verify against the original filings before relying on them.