China Power Equipment

CPQQ

Hardware, Equipment & Parts · Technology

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Sep 30, 2013

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

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Winston Score History

The full picture

China Power Equipment, Inc. makes electrical transformers and related power equipment. Its products help move electricity from power plants to homes, businesses, and factories. The company sells mainly to electric utilities and industrial customers in China.

The company earns money by manufacturing and selling hardware — primarily transformers used in power distribution networks. It operates almost entirely within China, which is both its core market and its main geographic concentration. China's ongoing investment in grid infrastructure and rural electrification has supported demand, but the company is small, with a market cap near zero, which raises questions about liquidity and financial transparency. The biggest risk is its limited public disclosure and the challenges investors face in verifying financials for small Chinese companies listed in the United States.

Score breakdown

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Quality

Profit per sale

Gross Margin

24.8%

Thin — 24.8% gross margin

Profit after running costs

Operating Margin

21.3%

Excellent — 21.3% operating margin

Return on the money invested

ROCE

14.5%

Good — 14.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-6.8%

Shrinking sales (-6.8% YoY)

Profit growth

EPS YoY

-15.2%

Earnings shrinking (-15.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

165%

Turns 165% of profit into real cash

Spare cash per sale

FCF Margin

27.3%

Converts sales into free cash efficiently (27.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

524.12x

Comfortably covers interest (524.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

0.0x

no trend

Attractive valuation — P/E 0.0

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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