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Subsidiary of Aero Engine Corporation of China making digital engine control systems (FADEC) for military and civil aircraft engines.
Subsidiary of Aero Engine Corporation of China making digital engine control systems (FADEC) for military and civil aircraft engines.
Supplies engine control units and fuel-control parts to engine makers inside its own state group, so volume follows military engine production and maintenance, not open-market competition. FADEC is the computer that governs an engine's fuel flow and operation. State-owned AECC is China's main aero-engine group.
In one line: China's aero-engine-control-systems maker, akin to a state-owned Woodward Inc..
Moat: wide (regulatory licence, IP / patents). Sole/primary approved supplier of engine control systems within China's state aero-engine industry, a highly regulated niche.
Headquarters: Xi'an, China · Employees: 7,144
Size AECC Aero-engine Control (000738.SZ) is a China Industrials company (Aerospace & Defense) with a market value of $3.66B, the 703rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.56 on 6 Nov 2026.
Performance Over six months the shares fell 10.5%, against -16.5% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 2.5% over the last twelve months (peer median +1.9%); the operating margin is 3.3% (peer median 1.2%).
Valuation It trades at 64.0× forward earnings against a peer median of 41.2× (5th most expensive of 17).
Capital Return on invested capital runs 2.8 points below its cost of capital (6.9% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.11B | CN¥5.13B | CN¥5.45B | CN¥5.31B | CN¥4.94B |
| Revenue growth | — | -6% | +3% | +8% | — |
| Gross profit | CN¥1.50B | CN¥1.08B | CN¥1.44B | CN¥1.38B | CN¥1.30B |
| EBITDA | n/a | CN¥925M | CN¥1.33B | CN¥1.16B | CN¥1.09B |
| Net income | CN¥168M | CN¥334M | CN¥750M | CN¥727M | CN¥688M |
| Free cash flow | -CN¥396M | CN¥143M | -CN¥1.23B | -CN¥22.8M | CN¥182M |
| Capital expenditure | CN¥765M | CN¥801M | CN¥969M | CN¥1.01B | CN¥682M |
| Total debt | CN¥426M | CN¥659M | CN¥791M | CN¥887M | CN¥1.04B |
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 |
|---|---|---|---|---|---|---|
| AECC Aero-engine Control 000738.SZ | $3.66B | -10% | -3% | 3% | 64.0× | n/a |
| Woodward WWD | $18.7B | -14% | +22% | 16% | 31.0× | 18.9% |
| Safran SAF.PA | $138B | +4% | +14% | 13% | 28.5× | 22.2% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| BAE Systems BA..L | $72.6B | -4% | +7% | 9% | 22.0× | 2.8% |
| Parker Hannifin PH | $116B | +4% | +8% | 22% | 24.4× | 19.0% |
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 | 000738.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.4% | -0.2% | 10th highest of 21 |
| 6-month return | -10.5% | -16.5% | 7th highest of 21 |
| Distance from 52-week high | -38.4% | -40.0% | 9th highest of 21 |
| Revenue growth (TTM) | -2.5% | +1.9% | 8th lowest of 20 |
| Operating margin | 3.3% | 1.2% | 9th highest of 21 |
| Forward P/E | 64.0× | 41.2× | 5th most expensive of 17 |
| ROIC minus cost of capital | -2.8 pp | -5.4 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AECC Aero-engine Control 000738.SZ | China | $3.66B | -10% | -3% | 3% | 64.0× | n/a | n/a |
| Jiangxi Hongdu Aviation Industry 600316.SS | China | $3.77B | -4% | +62% | 0% | 121.0× | 53.4% | +8.0% |
| Avicopter 600038.SS | China | $3.54B | -8% | -6% | 1% | 33.9× | 9.1% | +8.1% |
| Baimtec Material 688563.SS | China | $3.53B | -12% | -1% | 15% | 38.2× | 22.7% | +14.4% |
| QinetiQ QQ..L | United Kingdom | $3.51B | +26% | 0% | 10% | 15.3× | 0.1% | +8.5% |
| RENK R3NK.DE | Germany | $3.84B | -24% | +11% | 13% | 21.1× | 29.8% | +54.5% |
| Firefly Aerospace FLY | United States | $3.48B | -48% | +179% | -116% | n/a | n/a | n/a |
| Archer Aviation ACHR | United States | $3.42B | -31% | n/a | -13,570% | n/a | n/a | n/a |
| Avic (Chengdu) UAS 688297.SS | China | $3.93B | -15% | +74% | 0% | 106.5× | n/a | n/a |
| Lisi FII.PA | France | $3.27B | 0% | -8% | 10% | 22.5× | 20.4% | +7.3% |
| Bharat Dynamics BDL.NS | India | $4.12B | -28% | -19% | 10% | 47.2× | n/a | n/a |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 26.0× | 38.2% | -5.4% |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | n/a | n/a | n/a |
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 8.1× | n/a | n/a |
| Aar AIR | United States | $4.39B | -7% | +22% | 9% | 18.4× | 13.2% | +14.9% |
| Mercury Systems MRCY | United States | $4.48B | -19% | +8% | 2% | 44.2× | 59.6% | +1.3% |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |
| Nanchang Sanrui Intelligence Technology 301696.SZ | China | $4.87B | -14% | +29% | 45% | n/a | 36.1% | +43.7% |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 97.4× | 17.1% | +6.8% |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 54.9× | n/a | n/a |