Zhejiang Meida Industrial Co., Ltd. (002677.SZ)

Zhejiang Meida Industrial Co., Ltd. (002677.SZ) — VMCI valuation read

Headline read on 002677.SZ: VMCI of 51/100 versus a Consumer Cyclical sector median of 50. The 1-point above-median position is what makes Zhejiang Meida Industrial Co., Ltd. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 002677.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 002677.SZ: value (002677.SZ trades at 15.0x earnings, 17% below the Consumer Cyclical median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Consumer Cyclical median (10.0%)), and risk (net debt to EBITDA of 3.0x is the rate-sensitivity line to watch). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Cyclical 12.0x baseline.

002677.SZ rose 2.7% over the trailing 7 days, with a -11.4% read on a 30-day basis.