Leishen Energy Holding Co., Ltd.
LSE · Oil & Gas Field Machinery & Equipment · EDGAR filings ↗
Grade
C59China clean-energy/oil-and-gas equipment provider with marginal profitability, declining revenue and heavy customer concentration.
Strengths
- Decent liquidity (current 2.54, quick 2.39) and positive net margin (2.6%)
- Patent portfolio and expansion into Central Asia / Southeast Asia
Risks
- Revenue down 30% (7.1th pct) and net income down 85%; negative operating/FCF margins
- Low returns (ROE 2.8%, ROA 1.8%) and reliance on a few key customers
- Cyclical oil-and-gas exposure plus PRC governance/HFCAA risk
Notable findings
- Cash burnNegative free cash flow (-3.7M)
- Revenue declineRevenue -30.0% YoY
Key metrics
Gross margin
17.6%
Operating margin
-3.4%
Net margin
2.6%
Return on equity
2.8%
Return on assets
1.8%
Revenue growth (QoQ)
-30.0%
Net-income growth
-84.5%
Current ratio
2.5×
Free cash flow
-$4M
EBITDA
-$1M
Tangible book value
$45M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-01-30 | 2025-09-30 | 0001493152-26-004368 ↗ |
| 20-F | 2025-02-14 | 2024-09-30 | 0001493152-25-006894 ↗ |