Breaking Down Zhejiang Dun'an Artificial Environment Co., Ltd Financial Health: Key Insights for Investors

From its founding in 1987 to its Shenzhen listing in 2004 under stock code 002011, Zhejiang Dun'an Artificial Environment Co., Ltd. has grown into a global refrigeration-component leader-supplying valves, heat exchangers and pressure vessels for household and commercial HVAC, heat pumps, refrigeration and new-energy vehicle thermal management systems, with subsidiaries and sales offices across North America, Europe, Japan, South Korea, Thailand, India and Malaysia and a manufacturing facility in Thailand; driven by a mission to "improve energy efficiency and optimize the environment" and a vision to be a leader in healthy, comfortable spaces, Dun'an pairs strategic partnerships and top-ranked product production with a clear set of core values-innovation, sustainability, quality, customer focus, integrity and global collaboration-backed by robust financials (revenue of CNY 12.68 billion and a net margin of 8.2%) and sustained increases in R&D investment that fuel its role in shaping energy-efficient HVAC solutions worldwide

Zhejiang Dun'an Artificial Environment Co., Ltd (002011.SZ) - Intro

• Deliver world-class refrigeration and thermal management components that enable energy-efficient, safe, and sustainable environmental control solutions across residential, commercial, industrial, and new energy vehicle markets.
• Drive innovation in component design and manufacturing to reduce global carbon footprint and enhance system performance for partners and end-users.
• Ensure stakeholder value through reliable quality, continual operational excellence, and disciplined financial stewardship.

• Become the global benchmark for refrigeration component and system solutions, integrating advanced thermal management technologies into electrified mobility, smart buildings, data centers, and cold chain infrastructures.
• Expand market leadership through international footprint growth, deep partnerships with OEMs, and leading-edge R&D that anticipates future thermal challenges.

• Quality First: uncompromising product reliability across valves, heat exchangers, pressure vessels, and systems.
• Customer Centricity: align design, manufacturing, and service to OEM and integrator needs worldwide.
• Innovation & Sustainability: pursue energy-efficient solutions and materials that support decarbonization goals.
• Integrity & Accountability: transparent governance, compliance with global standards, and measurable performance.
• Collaboration: long-term strategic partnerships with air-conditioning and automotive OEMs to co-develop future systems.

• Founded: 1987; Shenzhen Stock Exchange listing: 2004 (002011.SZ).
• Primary business lines: refrigeration component manufacturing and equipment manufacturing (commercial & special air conditioning, clean rooms, data center cooling, transport refrigeration, cold chain equipment).
• Global presence: subsidiaries and sales offices in North America, Europe, Japan, South Korea, Thailand, India, and Malaysia; manufacturing facility in Thailand.
• Key markets: household & commercial AC, heat pumps, refrigeration, and new energy vehicle thermal management systems.

• Production and sales ranking among the global leaders for key refrigeration components (valves, heat exchangers, pressure vessels).
• Established strategic partnerships with major global air-conditioning manufacturers and OEMs, supplying components and system-level solutions.
• Increasing alignment with electrification trends: targeted growth in thermal management systems for new energy vehicles and heat-pump applications.

• Continuous investment in R&D to improve heat-transfer efficiency, reduce refrigerant charge, and enhance compactness for automotive and data center applications.
• Quality systems and certifications to meet nuclear, clean-room, and data-center specifications for special air-conditioning projects.
• Commitment to sustainable manufacturing and product designs that support global emissions reduction efforts.

Zhejiang Dun'an Artificial Environment Co., Ltd (002011.SZ) - Overview

• Core mission: 'Improve energy efficiency and optimize the environment' - prioritizing product quality, indoor environmental health, and energy savings.
• Technology focus: sustained innovation in environmental technology and refrigeration systems to reduce energy consumption and environmental footprint.
• Market positioning: deep expertise in refrigeration and HVAC, aligning with global energy-efficiency and sustainability trends in built environments.
• Execution: growing R&D investment and product portfolio expansion aimed at high-efficiency chillers, heat pumps, and integrated environmental systems.

• R&D trajectory: year-on-year increase in R&D spending supports the mission-capabilities in inverter-driven compressors, heat-pump integration, and intelligent controls.
• Product impact: high-efficiency chillers and heat-recovery systems targeting building energy reduction and carbon-emission savings for end customers.
• Financial backing: stable revenue and cash-flow generation enable continued strategic investment in green technology and market expansion.

Zhejiang Dun'an Artificial Environment Co., Ltd (002011.SZ) - Mission Statement

• Mission focus: develop systems that improve IAQ, reduce energy consumption and enhance occupant comfort across residential, commercial and industrial sectors.
• Operational priorities: continual R&D investment, quality manufacturing, and close collaboration with OEM air‑conditioning leaders to embed Dun'an components into integrated solutions.
• Market impact: scaling solutions that align with global sustainability targets (carbon intensity reduction, refrigerant transition, energy efficiency standards).

• Health & Comfort: Products designed to control temperature, humidity and air cleanliness to reduce occupant exposure to pollutants and pathogens.
• Energy Optimization: Drives efficiency through high‑COP compressors, low‑GWP refrigerants and system controls that reduce building energy demand.
• Standards & Partnerships: Collaborates with leading air‑conditioning manufacturers and component suppliers to influence technical standards and accelerate adoption of healthy‑environment technologies.
• Global Reach: International footprint allows transfer of technology and best practices across markets, reinforcing leadership in both developed and emerging regions.

• OEM collaborations: Long‑standing supply relationships with major domestic and international air‑conditioning manufacturers enable Dun'an to embed its compressors and components into whole‑system solutions, driving economies of scale and shared technical roadmaps.
• Standards influence: Participation in industry committees and standards bodies allows Dun'an to contribute to regulatory frameworks for refrigerants, efficiency metrics and IAQ testing protocols.
• International channels: Direct sales and after‑sales networks in 12 countries support rapid deployment and local adaptation of healthy‑environment solutions.

• R&D centers: Multiple R&D facilities focusing on compressor efficiency, low‑GWP refrigerant compatibility and intelligent controls.
• Talent: Engineering workforce concentrated in thermodynamics, materials and controls; training programs to scale IAQ and systems expertise across sales and service teams.
• IP & certifications: Portfolio of patents and product certifications aligned to international standards (safety, efficiency, refrigerant limits).

• Climate strategy: Roadmap to reduce product lifecycle carbon intensity through higher efficiency products and support for refrigerant transitions.
• Global market fit: Product lines engineered for varied climates and regulatory regimes, enabling deployment in both developed markets (efficiency focus) and emerging markets (durability, cost‑effectiveness).
• Impact metrics: Target to increase low‑GWP product share to 60% by 2027 and to improve average product energy efficiency by 25% vs. 2020 levels.

Zhejiang Dun'an Artificial Environment Co., Ltd (002011.SZ) - Vision Statement

• Innovation: continuous increase in R&D allocation to accelerate efficiency and low-carbon product development.
• Sustainability: prioritizing energy-efficient systems and lifecycle environmental optimization.
• Quality: stringent product and process controls to ensure durable, high-performance indoor environment products.
• Customer satisfaction: integrated solutions and after-sales services to enhance occupant health and comfort.
• Integrity: transparent governance and consistent financial performance supporting stakeholder trust.
• Global collaboration: partnerships with leading global air-conditioning OEMs and expanding overseas sales channels.

• R&D spend growth: reinvestment focused on high-efficiency compressors, low-GWP refrigerants, heat-recovery systems, and smart controls.
• Patent and standard contributions: active patent filings and participation in national HVAC standards to commercialize greener technologies.

• Product road map: shifting portfolio toward variable-speed, inverter-driven systems and integrated ventilation+filtration solutions that lower building energy intensity.
• Environmental targets: product efficiency upgrades consistent with China's carbon neutrality goals and global refrigerant phase-down timelines.

• Quality assurance: multi-stage testing and certified production lines to meet domestic and international standards.
• Service footprint: expanding maintenance and monitoring services to increase lifetime system performance and customer retention.

• Financial discipline: consistent profitability metrics and conservative balance-sheet management to support long-term investment.
• Compliance: adherence to industry regulations and transparent disclosure practices.

• OEM partnerships: strategic alliances with leading global air-conditioning manufacturers to co-develop components and systems.
• International channels: growing export share and overseas service networks to diversify revenue streams.