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Makes specialty and alloy steel (bearing steel, auto and machinery-grade steel) for high-end industrial applications.
Makes specialty and alloy steel (bearing steel, auto and machinery-grade steel) for high-end industrial applications.
Sells steel made to tight customer specifications, with buyers such as bearing makers and carmakers qualifying each grade for their products, which makes orders more repeat-based and priced above standard steel. It is the listed special-steel arm of the CITIC group, formed by combining mills including Daye and Xingcheng.
In one line: A Chinese Timken/Carpenter Technology for specialty steel.
Moat: narrow (process know-how, scale). Metallurgical know-how in high-spec alloy steel is harder to replicate than commodity steel production.
Headquarters: Jiangyin, China · Founded: 1993 · Employees: 31,584
Size Citic Pacific Special Steel (000708.SZ) is a China Materials company (Steel) with a market value of $9.52B, the 263rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.58 on 6 Nov 2026.
Performance Over six months the shares fell 17.5%, against -7.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue was unchanged over the last twelve months (peer median +8.7%); the operating margin is 6.2% (peer median 6.8%).
Valuation It trades at 10.8× forward earnings against a peer median of 13.8× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.9 points above its cost of capital (5.1% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥107B | CN¥107B | CN¥109B | CN¥114B | CN¥98.1B |
| Revenue growth | — | -2% | -4% | +16% | — |
| Gross profit | CN¥18.5B | CN¥14.9B | CN¥13.0B | CN¥13.8B | CN¥13.5B |
| EBITDA | n/a | CN¥12.5B | CN¥11.4B | CN¥11.5B | CN¥11.2B |
| Net income | CN¥5.76B | CN¥5.93B | CN¥5.13B | CN¥5.72B | CN¥7.11B |
| Free cash flow | CN¥5.77B | CN¥9.16B | CN¥3.42B | CN¥2.64B | CN¥5.03B |
| Capital expenditure | CN¥815M | CN¥770M | CN¥552M | CN¥2.00B | CN¥1.79B |
| Total debt | CN¥37.1B | CN¥37.2B | CN¥39.9B | CN¥40.6B | CN¥26.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Citic Pacific Special Steel 000708.SZ | $9.52B | -18% | 0% | 6% | 10.8× | -7.8% |
| Baoshan Iron & Steel 600019.SS | $19.9B | -3% | +6% | 3% | 14.4× | -9.6% |
| Timken TKR | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% |
| Daido Steel 5471.T | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% |
| Aichi Steel 5482.T | $970M | -17% | +4% | 5% | 14.2× | 1.6% |
| Fushun Special Steel 600399.SS | $1.22B | -25% | +6% | -5% | 102.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000708.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | -4.8% | 11th highest of 21 |
| 6-month return | -17.5% | -7.9% | 7th lowest of 21 |
| Distance from 52-week high | -31.4% | -23.2% | 7th lowest of 21 |
| Revenue growth (TTM) | 0.0% | +8.7% | 8th lowest of 21 |
| Operating margin | 6.2% | 6.8% | 10th lowest of 21 |
| Forward P/E | 10.8× | 13.8× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -7.8% | 6.2% | 2nd least demanding of 12 |
| Growth delivered (Del g) | +7.2% | +7.4% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -14.9 pp | -5.7 pp | least demanding of 12 |
| ROIC minus cost of capital | +4.9 pp | -2.9 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Citic Pacific Special Steel 000708.SZ | China | $9.52B | -18% | 0% | 6% | 10.8× | -7.8% | +7.2% |
| Ternium S.A. Sponsored ADR TX | United States | $9.65B | +5% | -1% | 8% | 6.7× | n/a | n/a |
| China Steel 2002.TW | Taiwan | $8.65B | 0% | -7% | 0% | 41.5× | n/a | n/a |
| Lloyds Metals & Energy LLOYDSME.NS | India | $10.6B | +3% | +171% | 33% | 13.4× | n/a | n/a |
| Gerdau S.A. Pfd Sponsored ADR Repr 1 Pfd Sh GGB | United States | $8.41B | -10% | +10% | 9% | 7.9× | 2.3% | +8.0% |
| thyssenkrupp TKA.DE | Germany | $8.33B | +10% | -2% | 1% | n/a | n/a | n/a |
| Steel Authority of India SAIL.NS | India | $7.49B | -8% | +9% | 8% | 8.9× | 11.0% | +9.9% |
| Jindal Steel JINDALSTEL.NS | India | $12.6B | -7% | +26% | 10% | 21.2× | n/a | n/a |
| Commercial Metals CMC | United States | $6.85B | -12% | +20% | 9% | 9.3× | 6.2% | +6.9% |
| Inner Mongolia Baotou Steel Union 600010.SS | China | $13.5B | -26% | -6% | 3% | 66.3× | 14.7% | +2.5% |
| Jfe 5411.T | Japan | $6.66B | +2% | -4% | 2% | 8.4× | 13.2% | +7.1% |
| Cleveland-Cliffs CLF | United States | $6.54B | +4% | +8% | -1% | 6.6× | n/a | n/a |
| APL Apollo Tubes APLAPOLLO.NS | India | $6.42B | +11% | +16% | 7% | 39.8× | 22.1% | +22.1% |
| Mineral Resources MIN.AX | Australia | $6.36B | -34% | +44% | 25% | 13.8× | 4.2% | +11.6% |
| POSCO 005490.KS | South Korea | $14.4B | -42% | +4% | 3% | 11.2× | n/a | n/a |
| Jindal Stainless JSL.NS | India | $6.10B | -9% | +12% | 10% | 16.9× | 21.0% | +28.7% |
| Vallourec VK.PA | France | $5.51B | -31% | -7% | 14% | 15.5× | -7.6% | +3.3% |
| Kobe Steel 5406.T | Japan | $4.83B | 0% | -3% | 5% | 7.7× | -1.1% | +7.4% |
| Baoshan Iron & Steel 600019.SS | China | $19.9B | -3% | +6% | 3% | 14.4× | -9.6% | +2.4% |
| Zhejiang Hailiang 002203.SZ | China | $4.53B | -23% | +10% | 2% | 17.6× | n/a | n/a |
| Tube Investments of India TIINDIA.NS | India | $4.47B | -28% | +18% | 7% | 42.7× | n/a | n/a |