Dongguan Development (Holdings) Co., Ltd. (000828.SZ)

Dongguan Development (Holdings) Co., Ltd. (000828.SZ) — VMCI valuation read

Headline read on 000828.SZ: VMCI of 56/100 versus a Industrials sector median of 50. The 6-point above-median position is what makes Dongguan Development (Holdings) Co., Ltd. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 000828.SZ: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on 000828.SZ: value (000828.SZ trades at 19.0x earnings, 6% above the Industrials median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Industrials median (10.0%)), and risk (net debt to EBITDA of -0.6x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Industrials 12.0x baseline.

000828.SZ rose 2.7% over the trailing 7 days, with a -7.8% read on a 30-day basis.