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Qingdao-based maker of power and marine/offshore cables for grid, industrial and shipping customers.
Qingdao-based maker of power and marine/offshore cables for grid, industrial and shipping customers.
Moat: none. Cable manufacturing is commoditized and tender-driven with thin differentiation.
Headquarters: Qingdao, Shandong, China · Employees: 3,142
Size Qingdao Hanhe Cable (002498.SZ) is a China Industrials company (Electrical Products) with a market value of $2.74B, the 934th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.50 on 6 Nov 2026.
Performance Over six months the shares fell 36.9%, against -28.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 21.1% over the last twelve months (peer median +15.4%); the operating margin is 3.5% (peer median 10.2%).
Valuation It trades at 18.3× forward earnings against a peer median of 20.9× (8th cheapest of 17).
Capital Return on invested capital runs 1.6 points below its cost of capital (5.4% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥12.0B | CN¥10.4B | CN¥9.26B | CN¥9.64B | CN¥9.83B |
| Revenue growth | — | +12% | -4% | -2% | — |
| Gross profit | CN¥1.70B | CN¥1.41B | CN¥1.51B | CN¥1.85B | CN¥1.94B |
| EBITDA | n/a | CN¥624M | CN¥661M | CN¥934M | CN¥928M |
| Net income | CN¥488M | CN¥553M | CN¥655M | CN¥760M | CN¥786M |
| Free cash flow | -CN¥397M | CN¥545M | CN¥89.8M | CN¥911M | -CN¥234M |
| Capital expenditure | CN¥131M | CN¥157M | CN¥156M | CN¥202M | CN¥451M |
| Total debt | CN¥3.33B | CN¥2.15B | CN¥1.92B | CN¥1.13B | CN¥1.23B |
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 |
|---|---|---|---|---|---|---|
| Qingdao Hanhe Cable 002498.SZ | $2.74B | -37% | +21% | 3% | 18.3× | n/a |
| Ningbo Orient Wires & Cables 603606.SS | $4.96B | -23% | +36% | 12% | 21.1× | 3.6% |
| Jiangsu Zhongtian Technology 600522.SS | $11.7B | -30% | +22% | 8% | 11.6× | 4.1% |
| Far East Smarter Energy 600869.SS | $4.73B | -16% | -1% | 1% | 37.4× | 38.2% |
| Baosheng Science & Technology Innovation 600973.SS | $1.11B | -26% | +31% | 1% | 60.2× | 9.1% |
| Hengtong Optic-Electric 600487.SS | $14.9B | -38% | +21% | 9% | 11.8× | n/a |
| Nexans NEX.PA | $6.06B | -26% | -13% | 6% | 17.2× | 5.6% |
| Nkt A/s NKT.CO | $6.73B | -15% | +2% | 7% | 26.4× | 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 | 002498.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.1% | -7.5% | 9th lowest of 21 |
| 6-month return | -36.9% | -28.2% | 7th lowest of 21 |
| Distance from 52-week high | -53.0% | -48.4% | 8th lowest of 21 |
| Revenue growth (TTM) | +21.1% | +15.4% | 8th highest of 21 |
| Operating margin | 3.5% | 10.2% | 6th lowest of 21 |
| Forward P/E | 18.3× | 20.9× | 8th cheapest of 17 |
| ROIC minus cost of capital | -1.6 pp | -0.7 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Qingdao Hanhe Cable 002498.SZ | China | $2.74B | -37% | +21% | 3% | 18.3× | n/a | n/a |
| Zhongshan Broad-Ocean Motor 002249.SZ | China | $2.73B | -21% | +1% | 6% | n/a | 7.7% | +9.5% |
| Fortior Technology (Shenzhen) 1304.HK | Hong Kong | $2.76B | -15% | +54% | 25% | 31.8× | n/a | n/a |
| Daming Electronics 603376.SS | China | $2.71B | -22% | +110% | 9% | n/a | n/a | n/a |
| Tianneng Battery 688819.SS | China | $2.79B | -37% | +2% | 0% | 10.9× | -7.9% | +5.4% |
| Shijiazhuang Shangtai Technology 001301.SZ | China | $2.80B | -16% | +34% | 13% | 16.6× | n/a | n/a |
| Schneider Electric Infrastructure SCHNEIDER.NS | India | $2.69B | -21% | +10% | 10% | 76.0× | 56.2% | +17.4% |
| Shenzhen Senior Technology Material 300568.SZ | China | $2.80B | -23% | +45% | 10% | 27.4× | n/a | n/a |
| Ming Yang Smart Energy 601615.SS | China | $2.80B | -47% | +8% | -4% | 19.4× | n/a | n/a |
| Weihai Guangwei Composites 300699.SZ | China | $2.68B | -35% | +12% | 16% | 45.8× | 13.8% | +6.2% |
| GS Yuasa 6674.T | Japan | $2.67B | -33% | +6% | 10% | 9.9× | n/a | n/a |
| Huaming Power Equipment 002270.SZ | China | $2.66B | -19% | +7% | 32% | 22.3× | 5.9% | +12.3% |
| Baoding Tianwei Baobian Electric 600550.SS | China | $2.65B | -36% | +13% | 4% | n/a | 45.5% | +7.1% |
| Mabuchi Motor 6592.T | Japan | $2.84B | +18% | +12% | 12% | 17.9× | 5.8% | +11.5% |
| Time Interconnect Technology 1729.HK | Hong Kong | $2.84B | -57% | +84% | 7% | 10.8× | n/a | n/a |
| Luster LightTech 688400.SS | China | $2.63B | -37% | +10% | 0% | 28.1× | 56.8% | +10.7% |
| Sanil Electric 062040.KS | South Korea | $2.62B | -56% | +29% | 36% | 17.1× | 15.1% | +50.8% |
| Zhuhai CosMX Battery 688772.SS | China | $2.88B | +2% | +18% | -2% | 144.1× | n/a | n/a |
| TDG 600330.SS | China | $2.96B | -43% | +21% | -19% | 320.4× | n/a | n/a |
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | China | $2.98B | -37% | +20% | 15% | 16.4× | 1.8% | +15.6% |
| HBL Engineering HBLENGINE.NS | India | $2.46B | -1% | +63% | 31% | n/a | 22.6% | +29.4% |