Screen · Berkshire Criteria

Buffett Quality Screen

Buffett's "wonderful business" criteria, quantified into six dimensions: earnings record (20), ROE quality (25 — Fortune's double standard), low leverage (15), pricing power (15), business stability (15) and capital efficiency (10), for a 0–100 total. The entry gate is the first of Berkshire's acquisition criteria — at least $50M average pre-tax earnings over the last three fiscal years (banks and insurers excluded, as leverage is their business model; investment trusts and closed-end funds excluded, as they are portfolios rather than operating companies). Recomputed periodically from each company's last ten fiscal years; cross-listings merged by canonical ticker. Hover the score for the six-dimension breakdown; companies we cover link to their report. market "China A-shares", profit streak "Full 10 yr", Has report 필터 적용: 55 match(필터 지우기).

#	종목	Mkt Cap	Score▼	Baillie	10Y ROE	Profit Streak	Net Debt/Eq	Gross Margin	리포트	FY
1	Shenzhen Mindray Bio-Medical Electronics Co Ltd Class A 300760 · 선전	$27B	95/100 최상위	52/100	30.1%low 21.4%	10 yr+	Net cash	64%	Mindray Bio-Medical: The Transition Is Real, But So Is the Price Tag2026년 7월 19일 · Hold	FY2025
2	Kweichow Moutai Co Ltd 600519 · 상하이	$236B	93/100 최상위	48/100	30.8%low 22.9%	10 yr+	Net cash	90%	Kweichow Moutai: A Long-Term Business Owner's Perspective2026년 5월 21일 · Watch	FY2025
3	Midea Group Co Ltd 000333 · 선전	$94B	88/100 최상위	43/100	22.1%low 17.8%	10 yr+	Net cash	26%	Midea Group Initiation: Proven Appliance Compounder, Unearned Industrial Re-Rating2026년 8월 12일 · Hold	FY2025
4	Zhangzhou Pientzehuang Pharmaceutical Co Ltd 600436 · 상하이	$12B	88/100 최상위	38/100	20.3%low 14.8%	10 yr+	Net cash	44%	Pientzehuang: High-Priced Core Volume Fell 21% in 2025, and CNY132.59 Still Prices In 42x Trailing Earnings2026년 8월 15일 · Hold	FY2025
5	Hithink RoyalFlush Info Network 300033 · 선전	$25B	87/100 최상위	48/100	26.7%low 19.0%	10 yr+	Net cash	90%	Hithink RoyalFlush: Advertising Supplied 78% of 2025 Incremental Revenue, and CNY230.26 Already Sits at the CNY228 Base-Case Value2026년 8월 15일 · Hold	FY2025
6	Shanxi Xinghuacun Fen Wine Factory Co Ltd 600809 · 상하이	$22B	86/100 최상위	38/100	29.0%low 12.7%	10 yr+	Net cash	72%	Shanxi Fenjiu: 22% More Volume but Only 7.5% More Revenue in 2025, Q1 2026 Out-of-Province Sales Fell 15% While Dealers Grew, and CNY123.52 Sits Above Conservative Value2026년 8월 15일 · Hold	FY2025
7	Aier Eye Hospital Group 300015 · 선전	$12B	86/100 최상위	43/100	17.4%low 14.2%	10 yr+	Net cash	49%	Aier Eye Hospital: Net Goodwill Equals 43% of Book Equity, Adjusted Profit Grew 1.36% in 2025, and CNY8.71 Leaves No Conservative Margin of Safety2026년 8월 15일 · Hold	FY2025
8	Xiamen Faratronic Co Ltd 600563 · 상하이	$4.3B	86/100 최상위	41/100	20.2%low 17.3%	10 yr+	Net cash	39%	Xiamen Faratronic: 95% Film-Capacitor Purity, a 38.6%-to-32.1% Margin Reset, and CNY 123.01 Inside the Hold Band2026년 9월 13일 · Hold	FY2025
9	Jiangsu Hengrui Medicine Co Ltd 600276 · 상하이	$50B	83/100 최상위	51/100	16.5%low 10.3%	10 yr+	Net cash	86%	Hengrui Pharmaceuticals: A Fortress Innovation Platform, But RMB 50 Already Pays for the Upgrade2026년 6월 26일 · Hold	FY2025
10	Lao Feng Xiang Co Ltd A 600612 · 상하이	$2.6B	83/100 최상위	33/100	18.4%low 11.6%	10 yr+	Net cash	8%	Lao Feng Xiang: 499 Franchise Closures and a 10.6% Jewellery Gross Margin, While the Shares at CNY 34.87 Sit 9% Above the CNY 31.9 Conservative Value2026년 8월 9일 · Hold	FY2025
11	Foxconn Industrial Internet Co Ltd 601138 · 상하이	$158B	82/100 최상위	40/100	22.0%low 15.0%	10 yr+	Net cash	8%	FII Zen Horizon Research: No. 1 in AI server rack assembly, real earnings acceleration, but a thin business at a rich valuation2026년 6월 4일 · Watch	FY2025
12	Suzhou TFC Optical Communication Co Ltd 300394 · 선전	$26B	82/100 최상위	48/100	19.9%low 12.7%	10 yr+	Net cash	53%	T&S Communications: A Real Upstream Bottleneck, Priced as if Scarcity Economics Were Permanent2026년 7월 28일 · Avoid	FY2025
13	Shandong Himile Mechanical Science & Technology Co Ltd 002595 · 선전	$8.5B	82/100 최상위	47/100	18.1%low 16.2%	10 yr+	Net cash	33%	Himile: A 40%-Margin Tire-Mould Franchise Is Funding Two Adjacencies That Have Not Yet Earned Their Keep2026년 8월 19일 · Hold	FY2025
14	NARI Technology Co Ltd 600406 · 상하이	$27B	81/100 최상위	51/100	15.3%low 14.2%	10 yr+	Net cash	27%	NARI Technology: Grid-Control Franchise, Quality Already Priced2026년 6월 27일 · Hold	FY2025
15	Hongfa Technology Co Ltd 600885 · 상하이	$7.7B	79/100 우수	45/100	16.0%low 13.9%	10 yr+	Net cash	37%	Hongfa Technology: 3.464bn Relays, a 32% Top Line That Yielded CNY 114m of Cash, and CNY 34.73 at the Hold-Band Floor2026년 9월 16일 · Hold	FY2025
16	Zhejiang CFMoto Power Co Ltd 603129 · 상하이	$6.6B	78/100 우수	48/100	18.2%low 10.8%	10 yr+	Net cash	29%	CFMOTO: Four-Wheeler Revenue Up 51% but H1 Profit Up Only 6%, and CNY 296.88 at 24-25x Normalized Earnings Leaves No Margin of Safety2026년 9월 17일 · Hold	FY2025
17	Shenzhen Inovance Tech 300124 · 선전	$24B	76/100 우수	49/100	18.2%low 11.0%	10 yr+	Net cash	37%	Inovance Technology 심층 리서치2026년 6월 15일 · 보유	FY2025
18	Beijing Kingsoft Office Software In 688111 · 상하이	$18B	76/100 우수	48/100	15.1%low 6.6%	10 yr+	Net cash	88%	Kingsoft Office In-Depth Research2026년 6월 14일 · Hold	FY2025
19	Zhejiang Dingli Mach Co Ltd 603338 · 상하이	$4.2B	76/100 우수	44/100	17.3%low 12.9%	10 yr+	Net cash	37%	Zhejiang Dingli: H1 Revenue Grew 24.9% and Its 20.6% EU Duty Beats Rivals at 35–49%, but Cash Conversion Fell to 0.32x and CNY 53.87 Sits 28% Above the CNY 42 Conservative Value Ahead of Final U.S. Duty Rulings2026년 9월 18일 · Watch	FY2025
20	Ningbo Deye Technology Co Ltd 605117 · 상하이	$15B	74/100 우수	44/100	36.6%low 21.9%	10 yr+	Net cash	29%	Ningbo Deye: H1 Operating Cash Flow Was 1.54x Net Income, but CNY 4.071bn of It Came from Expanding Supplier Credit2026년 9월 13일 · Hold	FY2025
21	Zhejiang Sanhua Co Ltd 002050 · 선전	$22B	73/100 우수	43/100	15.8%low 12.8%	10 yr+	Net cash	28%	Sanhua Intelligent Controls (002050.SHE) Zen Horizon Deep-Dive Research2026년 6월 5일 · Watch	FY2025
22	Sungrow Power Supply Co Ltd 300274 · 선전	$30B	72/100 우수	51/100	18.6%low 9.3%	10 yr+	Net cash	25%	Sungrow Power Supply: After the FCC Covered-List Ruling, the Price Sits 0.6% Below a CNY 104 Conservative Value While Q1 Storage Margin Has Already Slipped to About 30%2026년 8월 2일 · Watch	FY2025
23	Guangdong Haid Group Co Ltd 002311 · 선전	$11B	71/100 우수	47/100	16.7%low 11.3%	10 yr+	Net cash	10%	Haid Group: Feed Gross Profit Rose CNY 0.55 Billion, Farming Gross Profit Fell CNY 1.46 Billion, and CNY 46.24 Offers No Conservative Margin of Safety2026년 8월 31일 · Hold	FY2025
24	Hundsun Technologies Inc 600570 · 상하이	$6.1B	71/100 우수	41/100	18.1%low 0.8%	10 yr+	Net cash	82%	Hundsun Technologies: 2026 H1 Revenue Fell 11.6% While Profit Rose 0.69%, Associates Supplied CNY106.3m of Q1 Investment Income, and CNY22.12 Leaves No Conservative Margin of Safety2026년 8월 16일 · Hold	FY2025
25	Shaanxi Coal Industry Co Ltd 601225 · 상하이	$34B	70/100 우수	31/100	21.6%low 8.0%	10 yr+	Net cash	38%	Shaanxi Coal Industry: A Low-Cost Mine Base, 9.32 GW of Unfinished Power, and a 2026 Recovery Already in the Price2026년 8월 20일 · Hold	FY2025
26	Tsingtao Brewery Co Ltd 600600 · 상하이	$11B	70/100 우수	27/100	11.6%low 6.4%	10 yr+	Net cash	38%	Tsingtao Brewery: H1 Volume Fell 4.9% While Profit Held Flat on Cost Savings, and CNY51.49 Is 12% Above Conservative Value2026년 9월 5일 · Hold	FY2025
27	Zhejiang Dahua Technology Co Ltd 002236 · 선전	$7.7B	70/100 우수	41/100	16.8%low 8.1%	10 yr+	Net cash	45%	Dahua: 10% H1 Growth and a 43% Gross Margin Are Real, but CNY 15.72 Sits Above Conservative Value While FCC Component Rules and a CNY 8.568bn Inventory Build Leave No Margin of Safety2026년 9월 17일 · Hold	FY2025
28	China Yangtze Power Co Ltd 600900 · 상하이	$100B	69/100 우수	39/100	14.7%low 10.4%	10 yr+	1.3×	59%	China Yangtze Power: Six Dams, a 70% Payout Floor, and Why 15.5x Owner Earnings Still Leaves No Margin of Safety2026년 8월 20일 · Hold	FY2025
29	Shenzhen Transsion Holdings Co Ltd 688036 · 상하이	$10B	69/100 우수	41/100	20.3%low 3.2%	10 yr+	Net cash	21%	Transsion Holdings: H1 Gross Margin Rebounded to 22.6% on Price Rises and Cheap Inventory, but Operating Cash Flow of Negative CNY 5.861 Billion Leaves CNY 57.82 Above the CNY 44-47 Conservative Value2026년 8월 27일 · Hold	FY2025
30	Zhengzhou Yutong Bus Co Ltd 600066 · 상하이	$10.0B	67/100 우수	42/100	16.7%low 3.4%	10 yr+	Net cash	23%	Yutong Bus: A 29.62% Overseas Gross Margin Against 19.09% at Home Carried H1 Core Profit Up 15.83%, but 7m+ Share Fell to 28.69% and CNY 30.40 Sits Above the CNY 27 Conservative Value2026년 8월 27일 · Hold	FY2025
31	Zangge Holding Co Ltd 000408 · 선전	$18B	66/100 우수	31/100	18.2%low 2.9%	10 yr+	Net cash	61%	Zangge Mining: A Copper Associate It Does Not Control Now Drives Four-Fifths of Profit, and CNY 76.15 Already Pays for It2026년 9월 4일 · Hold	FY2025
32	Shenzhen Envicool Technology Co Ltd 002837 · 선전	$8.3B	66/100 우수	47/100	12.9%low 10.0%	10 yr+	Net cash	32%	Envicool 심층 리서치2026년 6월 14일 · 관찰	FY2025
33	Luxshare Precision Industry Co Ltd 002475 · 선전	$62B	64/100 보통	45/100	18.8%low 10.3%	10 yr+	Net cash	16%	Luxshare Precision: A Good Company, but Only a Fair Price2026년 7월 21일 · Hold	FY2025
34	Sieyuan Electric Co Ltd 002028 · 선전	$17B	63/100 보통	44/100	12.5%low 5.7%	10 yr+	Net cash	29%	Sieyuan Electric: A Premium-Priced Export Compounder With Zero Margin of Safety2026년 7월 11일 · Watch	FY2025
35	Shengyi Technology Co Ltd 600183 · 상하이	$36B	61/100 보통	43/100	15.5%low 8.3%	10 yr+	0.0×	22%	Shengyi Technology Long-Term Owner's Perspective Research2026년 6월 9일 · Avoid	FY2025
36	Sany Heavy Industry Co Ltd 600031 · 상하이	$26B	59/100 보통	45/100	13.1%low 0.9%	10 yr+	Net cash	28%	SANY Heavy Industry Re-rating: A Globalized Construction-Machinery Leader on Overseas Delivery Plus Domestic Recovery2026년 5월 28일 · Hold	FY2025
37	Jiangsu Hengli Hydraulic Co Ltd 601100 · 상하이	$20B	59/100 보통	44/100	18.1%low 2.0%	10 yr+	Net cash	38%	Jiangsu Hengli Hydraulic: A Real Compounder, but a Stock Already Pricing an Unproven Robot Story2026년 7월 25일 · Hold	FY2025
38	Eoptolink Technology Inc Ltd 300502 · 선전	$77B	58/100 보통	46/100	18.9%low 2.8%	10 yr+	Net cash	32%	Eoptolink Research from a Long-Term Business Owner's Perspective2026년 5월 21일 · Watch	FY2025
39	WUS Printed Circuit Kunshan Co Ltd 002463 · 선전	$28B	58/100 보통	50/100	16.3%low 3.9%	10 yr+	Net cash	25%	Long-Term Value Research on WUS Printed Circuit2026년 6월 9일 · Watch	FY2025
40	Red Avenue New Materials Group Co Ltd 603650 · 상하이	$4.7B	58/100 보통	45/100	16.5%low 9.8%	10 yr+	0.4×	29%	Tongcheng New Material: A Long-Term Business Owner's Study2026년 5월 20일 · Watch	FY2025
41	Henan Pinggao Electric Co Ltd 600312 · 상하이	$3.7B	58/100 보통	34/100	5.9%low 0.8%	10 yr+	Net cash	18%	Pinggao Electric: The Cleanest UHV Switchgear Play, But Orders Are Not Yet Revenue2026년 7월 4일 · Hold	FY2025
42	Zijin Mining Group Co Ltd Class A 601899 · 상하이	$123B	57/100 보통	38/100	16.2%low 6.6%	10 yr+	0.5×	16%	Zijin Mining: A Real Multi-Metal Compounder, Priced for the Transition to Go Right2026년 7월 22일 · Hold	FY2025
43	Inspur Electronic Info Industr 000977 · 선전	$15B	57/100 보통	38/100	9.8%low 5.9%	10 yr+	Net cash	10%	Inspur Information Deep-Dive Research2026년 6월 14일 · Hold	FY2025
44	Anji Microelectronics Tech Co Ltd 688019 · 상하이	$7.6B	57/100 보통	52/100	15.4%low 7.4%	10 yr+	Net cash	58%	Anji Microelectronics: A High-Quality Compounder, but a Better Company Than Stock2026년 6월 29일 · Watch	FY2025
45	Accelink Technologies Co Ltd 002281 · 선전	$20B	56/100 보통	44/100	9.2%low 7.3%	10 yr+	Net cash	21%	Accelink Technologies: AI Datacom Growth Racing Against a Stretched Valuation2026년 6월 14일 · Avoid	FY2025
46	Ningbo Orient Wires and Cables Co Ltd 603606 · 상하이	$4.8B	56/100 보통	47/100	15.4%low 3.2%	10 yr+	Net cash	21%	Ningbo Orient Wires & Cables: A Real Submarine-Cable Moat Priced for Flawless Backlog Conversion2026년 7월 17일 · Watch	FY2025
47	Shandong Zhongji Electrical Equipment Co Ltd 300308 · 선전	$141B	51/100 보통	56/100	13.4%low 1.8%	10 yr+	Net cash	28%	이노라이트(중지쉬촹): 심층 가치투자 연구2026년 5월 21일 · 관찰	FY2025
48	NAURA Technology Group Co Ltd 002371 · 선전	$70B	50/100 보통	50/100	9.4%low 2.9%	10 yr+	Net cash	39%	NAURA 테크놀로지 그룹 SUN-R 투자 분석2026년 6월 16일 · 관찰	FY2025
49	Western Superconducting Tech Co Ltd 688122 · 상하이	$4.8B	50/100 보통	43/100	10.9%low 6.2%	10 yr+	Net cash	33%	Western Superconducting: A Long-Term Enterprise Value Analysis2026년 5월 21일 · Watch	FY2025
50	Ningbo Tuopu Group Co Ltd 601689 · 상하이	$11B	48/100 다소 약함	48/100	12.0%low 6.2%	10 yr+	0.2×	24%	Ningbo Tuopu: Fair for the Auto Business, Pricey for the Robot Option2026년 7월 23일 · Hold	FY2025
51	BYD Co Ltd Class A 002594 · 선전	$122B	46/100 다소 약함	48/100	10.8%low 2.8%	10 yr+	0.1×	17%	BYD: Exports Reached 43.8% of First-Half Volume While Group Sales Fell 15.7% and First-Quarter Free Cash Flow Ran 19.3 Billion Yuan Negative2026년 8월 3일 · Hold	FY2025
52	Zhejiang Shuanghuan Driveline Co Ltd 002472 · 선전	$4.6B	46/100 다소 약함	44/100	7.2%low 1.4%	10 yr+	0.1×	21%	Zhejiang Shuanghuan Driveline: A Precision-Gear Cash Engine Carrying a Still-Optional Robot-Reducer Bet2026년 6월 25일 · Hold	FY2025
53	EVE Energy 300014 · 선전	$17B	45/100 다소 약함	49/100	13.4%low 9.8%	10 yr+	0.6×	22%	EVE Energy: Storage Now Leads the Growth and Carries the Thinnest Margin, and Capex Still Outruns the Cash It Converts2026년 7월 28일 · Watch	FY2025
54	Goertek Inc 002241 · 선전	$11B	45/100 다소 약함	41/100	10.2%low 3.5%	10 yr+	Net cash	15%	GoerTek: Stand-Alone Q2 Grew 0.67%, FY2025's Profit Jump Was Largely an Accounting Gain, and CNY 23.51 Already Pays the Base Case2026년 8월 30일 · Hold	FY2025
55	Jiangsu Nata Opto Electr Material 300346 · 선전	$4.8B	44/100 다소 약함	43/100	6.1%low 0.6%	10 yr+	Net cash	39%	Nata Opto-electronic: A Value-Investing Deep Dive2026년 5월 20일 · Watch	FY2025

Data and methodology: the six dimensions quantify Berkshire's published acquisition criteria and Buffett's shareholder letters (1981/1987/1991/2007 among others). Qualitative tests in the originals (e.g. "simple, understandable business", "management in place") are out of scope, and price ("available at a fair price") is covered by each report's valuation range instead. Financials come from company annual reports (via EODHD); ratios are computed in reporting currency, the USD gate via static FX. "‡" marks companies whose equity is persistently negative or tiny (ROE falls back to ROCE); "†" marks missing gross profit (operating margin used). Investment trusts and closed-end funds are excluded on two tests — name and financial shape (operating margins beyond what an operating company can achieve); REITs and operating asset managers are unaffected. This is a quantitative first pass, not investment advice. When citing this data, please credit Zen Horizon (zh.app). See our methodology for the scoring process.