---
title: "蜆殼電業有限公司 (02381.HK)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/02381.HK.md"
symbol: "02381.HK"
name: "蜆殼電業有限公司"
industry: "家用電器"
---

# 蜆殼電業有限公司 (02381.HK)

| Item | Detail |
|------|--------|
| Industry | 家用電器 |
| Location | 港股市場 |
| Website | [www.smcelectric.com.hk](https://www.smcelectric.com.hk) |

## Company Profile

蜆殼電業有限公司是一家主要從事製造及銷售電風扇的投資控股公司。該公司通過兩個分部運營。SMC分部主要從事開發,設計及買賣本集團自有品牌的電風扇。非SMC分部主要從事為客戶開發,設計,製造及買賣客戶各品牌的電動工具及電風扇。

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-21T04:30:11.000Z

**Overall: B (0.26)**

**Industry**: Household Appliances

| Metric | Value |
|--------|-------|
| Industry Ranking | 7 / 13 |
| Industry Median | B |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 10.65% |  |
| Net Profit YoY | 26.92% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 2.30 |  |
| Dividend Ratio | 5.85% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 342.00M |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 263.34M |  |


**Multi Score**: B

#### Profit Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 18.10% | A |
| Profit Margin | 9.99% | B |
| Gross Margin | 25.18% | C |

#### Growth Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 10.65% | B |
| Net Profit YoY | 26.92% | B |
| Total Assets YoY | 1.21% | C |
| Net Assets YoY | 4.50% | C |

#### Cash Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | 1001.44% | B |
| OCF YoY | 10.65% | B |

#### Operating Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 1.33 | A |

#### Debt Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 25.29% | B |


```chart-data:radar
{
  "title": "Longbridge Financial Score - 蜆殼電業有限公司",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "B",
      "indicators": [
        {
          "name": "ROE",
          "value": "18.10%",
          "rating": "A"
        },
        {
          "name": "Profit Margin",
          "value": "9.99%",
          "rating": "B"
        },
        {
          "name": "Gross Margin",
          "value": "25.18%",
          "rating": "C"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "B",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "10.65%",
          "rating": "B"
        },
        {
          "name": "Net Profit YoY",
          "value": "26.92%",
          "rating": "B"
        },
        {
          "name": "Total Assets YoY",
          "value": "1.21%",
          "rating": "C"
        },
        {
          "name": "Net Assets YoY",
          "value": "4.50%",
          "rating": "C"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "B",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "1001.44%",
          "rating": "B"
        },
        {
          "name": "OCF YoY",
          "value": "10.65%",
          "rating": "B"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "A",
      "indicators": [
        {
          "name": "Turnover",
          "value": "1.33",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "B",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "25.29%",
          "rating": "B"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 美的集團 (HK.300) | B | B | B | D | B | B |
| 02 | 海爾智家 (HK.6690) | B | C | A | D | B | B |
| 03 | 海信家電 (HK.921) | B | C | A | D | B | B |
| 04 | 泉峰控股 (HK.2285) | B | B | A | C | B | B |
| 05 | 登輝控股 (HK.1692) | B | B | A | C | B | B |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 13.01 | 9/15 | 10.80 | 9.27 | 7.59 |
| PB | 2.30 | 11/15 | 1.91 | 1.56 | 1.45 |
| PS (TTM) | 1.30 | 11/15 | 1.08 | 0.87 | 0.78 |
| Dividend Yield | 5.85% | 5/15 | 10.10% | 8.85% | 7.04% |

## References

- [Company Overview](https://longbridge.com/en/quote/02381.HK/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/02381.HK/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/02381.HK/topics.md) - Community topics and discussions

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.