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Chinese maker of engine crankshafts and other auto-engine components.
Chinese maker of engine crankshafts and other auto-engine components.
Sells crankshafts, the rotating shaft that turns a piston's motion into drive, in volume to engine makers under annual supply agreements, largely for commercial-vehicle engines, so output tracks heavy-truck production more than passenger cars.
Moat: narrow (process know-how, customer qualification). Precision engine-component maker qualified into automaker supply chains.
Headquarters: China · Employees: 3,931
Size Tianrun Industry Technology (002283.SZ) is a China Consumer Discretionary company (Motor Vehicles) with a market value of $1.14B, the 2058th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.84 on 6 Nov 2026.
Performance Over six months the shares fell 39.1%, against -8.7% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 30.5% over the last twelve months (peer median +8.0%); the operating margin is 9.3% (peer median 3.0%).
Valuation It trades at 16.0× forward earnings against a peer median of 14.8× (7th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.6 points below its cost of capital (9.9% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.90B | CN¥4.05B | CN¥3.60B | CN¥3.99B | CN¥3.12B |
| Revenue growth | — | +12% | -10% | +28% | — |
| Gross profit | CN¥1.33B | CN¥830M | CN¥716M | CN¥856M | CN¥591M |
| EBITDA | n/a | CN¥746M | CN¥681M | CN¥779M | CN¥566M |
| Net income | CN¥468M | CN¥368M | CN¥333M | CN¥391M | CN¥204M |
| Free cash flow | CN¥440M | CN¥595M | CN¥303M | CN¥620M | CN¥162M |
| Capital expenditure | CN¥268M | CN¥313M | CN¥122M | CN¥272M | CN¥380M |
| Total debt | CN¥1.46B | CN¥1.05B | CN¥1.18B | CN¥1.40B | CN¥1.57B |
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| Measure | 002283.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.0% | -0.5% | 6th lowest of 21 |
| 6-month return | -39.1% | -8.7% | 4th lowest of 20 |
| Distance from 52-week high | -48.3% | -37.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +30.5% | +8.0% | 5th highest of 21 |
| Operating margin | 9.3% | 3.0% | 3rd highest of 21 |
| Forward P/E | 16.0× | 14.8× | 7th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 6.1% | 3.1% | 6th most demanding of 13 |
| Growth delivered (Del g) | -1.7% | +2.7% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | +7.7 pp | +2.9 pp | 5th most demanding of 12 |
| ROIC minus cost of capital | -1.6 pp | -2.7 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tianrun Industry Technology 002283.SZ | China | $1.14B | -39% | +31% | 9% | 16.0× | 6.1% | -1.7% |
| Brilliance China Automotive 1114.HK | Hong Kong | $1.15B | -40% | +18% | -30% | 6.0× | n/a | n/a |
| Aerosun 600501.SS | China | $1.10B | -28% | +10% | -5% | n/a | n/a | n/a |
| Tianjin FUJI-TA Bicycle Industrial 603468.SS | China | $1.19B | n/a | +3% | 8% | n/a | 13.5% | +4.9% |
| Giant Manufacturing 9921.TW | Taiwan | $1.06B | +29% | -15% | 2% | 18.1× | 1.3% | -3.0% |
| Lucid LCID | United States | $1.30B | -48% | +67% | -259% | n/a | n/a | n/a |
| Xiamen King Long Motor 600686.SS | China | $967M | -42% | -3% | 2% | 9.1× | -1.1% | +12.0% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | n/a | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 19.5× | 2.1% | -23.6% |
| Sanyang Motor 2206.TW | Taiwan | $1.43B | +8% | -3% | 8% | n/a | 1.2% | +9.0% |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 17.2× | n/a | n/a |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 23.7× | n/a | n/a |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | n/a | n/a | n/a |
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 8.4× | 3.7% | +0.8% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 11.3× | 11.9% | n/a |
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 17.0× | 2.6% | +2.7% |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 12.6× | 14.9% | -2.6% |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 11.6× | -16.1% | +10.7% |
| Dongfeng Automobile 600006.SS | China | $1.53B | -24% | -5% | -13% | n/a | n/a | n/a |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | n/a | 23.6% | +36.9% |
| Xuzhou Handler Special Vehicle 300201.SZ | China | $1.64B | -9% | +18% | 22% | 22.5× | 22.0% | -3.3% |