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Employees: 657
Size Shanghai Yanhua Smartech (002178.SZ) is a China Industrials company (Engineering & Construction) with a market value of $492M, the 3895th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.61 on 6 Nov 2026.
Performance Over six months the shares fell 20.9%, against -20.2% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 21.5% over the last twelve months (peer median -4.2%); the operating margin is -4.9% (peer median 3.9%).
Valuation It trades at 9.1× enterprise value to sales against a peer median of 1.4× (2nd most expensive of 21).
Capital Return on invested capital runs 7.8 points below its cost of capital (5.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥369M | CN¥424M | CN¥546M | CN¥674M | CN¥625M |
| Revenue growth | — | -22% | -19% | +8% | — |
| Gross profit | CN¥85.8M | CN¥92.3M | CN¥121M | CN¥153M | CN¥97.4M |
| EBITDA | CN¥9.81M | CN¥22.5M | CN¥26.8M | CN¥57.9M | -CN¥29.7M |
| Net income | -CN¥7.81M | CN¥8.95M | -CN¥21.3M | CN¥22.5M | -CN¥146M |
| Free cash flow | -CN¥31.6M | -CN¥5.99M | -CN¥60.2M | -CN¥11.7M | -CN¥6.79M |
| Capital expenditure | CN¥12.6M | CN¥21.8M | CN¥29.9M | CN¥43.5M | CN¥47.4M |
| Total debt | CN¥145M | CN¥139M | CN¥140M | CN¥189M | CN¥194M |
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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 | 002178.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.7% | -8.7% | 10th highest of 21 |
| 6-month return | -20.9% | -20.2% | 11th highest of 21 |
| Distance from 52-week high | -42.3% | -36.1% | 5th lowest of 21 |
| Revenue growth (TTM) | -21.5% | -4.2% | 5th lowest of 21 |
| Operating margin | -4.9% | 3.9% | 6th lowest of 21 |
| EV / Sales | 9.1× | 1.4× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -7.8 pp | -2.2 pp | 8th lowest of 21 |
| Net debt / EBITDA | -3.9× | -0.3× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Yanhua Smartech 002178.SZ | China | $492M | -21% | -22% | -5% | 9.1× | n/a | n/a |
| Jiu Han System Technology 6903.TWO | Taiwan | $494M | -40% | +196% | 27% | 2.1× | -3.0% | +11.0% |
| PRAJ Industries PRAJIND.NS | India | $486M | -38% | +2% | 2% | 1.3× | 49.1% | +19.4% |
| Hindustan Construction HCC.NS | India | $500M | -26% | -21% | 12% | 1.2× | n/a | n/a |
| Fukuda 1899.T | Japan | $483M | +10% | +6% | 6% | 0.2× | -19.9% | -2.0% |
| Hwang Chang General Contractor 2543.TW | Taiwan | $480M | -32% | +31% | 14% | 1.4× | n/a | n/a |
| Dayu Irrigation 300021.SZ | China | $506M | -26% | -15% | 4% | 1.4× | n/a | n/a |
| Shenzhen Glory Medical 002551.SZ | China | $479M | -17% | -3% | -17% | 2.4× | n/a | n/a |
| TOA ROAD 1882.T | Japan | $479M | -4% | -4% | 5% | 0.5× | -8.4% | +1.6% |
| Concrete Pumping BBCP | United States | $479M | +20% | +7% | 12% | 2.1× | 9.9% | +5.2% |
| Meisei Industrial 1976.T | Japan | $478M | -12% | -5% | 13% | 0.7× | -9.6% | +3.6% |
| Poly Union Chemical 002037.SZ | China | $477M | -23% | -11% | -8% | 1.4× | n/a | n/a |
| Continental 3703.TW | Taiwan | $509M | 0% | +7% | 6% | 1.4× | 0.0% | +9.7% |
| Moreld MORLD.OL | Norway | $513M | +34% | -23% | 3% | 0.8× | 0.6% | -23.1% |
| Chengdu Road & Bridge Engineering 002628.SZ | China | $472M | -24% | +1% | -23% | 5.3× | 24.8% | -16.2% |
| Zhengping Road & Bridge Construction 603843.SS | China | $469M | -50% | -15% | -18% | 4.8× | n/a | n/a |
| Zhejiang Reclaim Construction 002586.SZ | China | $523M | -36% | -24% | -3% | 1.5× | n/a | n/a |
| Guizhou Transportation Planning Survey & Design Academe 603458.SS | China | $462M | -14% | -19% | -35% | 2.6× | -0.4% | -13.7% |
| Delpha Construction 2530.TW | Taiwan | $462M | -11% | -59% | 26% | 10.2× | n/a | n/a |
| Polimex - Mostostal PXM.WA | Poland | $462M | -14% | +21% | 4% | 0.3× | 2.2% | +20.7% |
| Super Telecom 603322.SS | China | $531M | -31% | -29% | -3% | 2.7× | 6.7% | +9.5% |