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Chinese prefabricated steel-structure builder making H-beam frames for industrial and commercial buildings.
Chinese prefabricated steel-structure builder making H-beam frames for industrial and commercial buildings.
Fabricates and installs steel frames to order, with steel the main cost, so results follow steel prices and the timing of logistics and industrial building projects. Government encouragement of prefabricated construction supports demand.
In one line: A China-focused NCI Building Systems.
Moat: narrow (scale, distribution). One of China's largest prefab-steel-structure makers; scale lowers unit costs.
Headquarters: Anhui, China · Employees: 26,927
Size Anhui Honglu Steel Construction (Group) (002541.SZ) is a China Industrials company (Metal Fabrication) with a market value of $2.30B, the 1110th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥20.28 on 6 Nov 2026.
Performance Over six months the shares gained 4.5%, against -16.0% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 19 in its peer set.
Growth Revenue grew 12.3% over the last twelve months (peer median +17.8%); the operating margin is 5.4% (peer median 11.1%).
Valuation It trades at 16.0× forward earnings against a peer median of 40.5× (5th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.0 points below its cost of capital (6.0% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥24.2B | CN¥22.0B | CN¥21.5B | CN¥23.5B | CN¥19.8B |
| Revenue growth | — | +3% | -9% | +19% | — |
| Gross profit | CN¥3.20B | CN¥2.06B | CN¥2.11B | CN¥2.52B | CN¥2.30B |
| EBITDA | n/a | CN¥1.68B | CN¥1.50B | CN¥1.88B | CN¥1.80B |
| Net income | CN¥831M | CN¥631M | CN¥772M | CN¥1.18B | CN¥1.16B |
| Free cash flow | CN¥189M | CN¥80.7M | -CN¥754M | -CN¥577M | -CN¥1.25B |
| Capital expenditure | CN¥1.49B | CN¥1.29B | CN¥1.33B | CN¥1.67B | CN¥1.87B |
| Total debt | CN¥15.3B | CN¥14.7B | CN¥12.6B | CN¥11.1B | CN¥8.98B |
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 |
|---|---|---|---|---|---|---|
| Anhui Honglu Steel Construction (Group) 002541.SZ | $2.30B | +4% | +12% | 5% | 16.0× | 3.8% |
| Hangxiao Steel Structure 600477.SS | $810M | -24% | -24% | 3% | 28.6× | 11.6% |
| Changjiang & Jinggong Steel Building (Group) 600496.SS | $931M | -25% | +1% | 3% | 9.7× | -1.5% |
| Zhejiang Southeast Space Frame 002135.SZ | $764M | -46% | -4% | 2% | 25.7× | -12.0% |
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 | 002541.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | -10.1% | 2nd highest of 20 |
| 6-month return | +4.5% | -16.0% | 7th highest of 19 |
| Distance from 52-week high | -19.7% | -45.0% | 4th highest of 20 |
| Revenue growth (TTM) | +12.3% | +17.8% | 9th lowest of 21 |
| Operating margin | 5.4% | 11.1% | 7th lowest of 21 |
| Forward P/E | 16.0× | 40.5× | 5th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 3.8% | 15.2% | 2nd least demanding of 11 |
| Growth delivered (Del g) | +10.4% | +13.5% | 3rd lowest of 11 |
| Hurdle (Req g minus delivered) | -6.6 pp | +1.6 pp | 3rd least demanding of 11 |
| ROIC minus cost of capital | -0.0 pp | -0.5 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anhui Honglu Steel Construction (Group) 002541.SZ | China | $2.30B | +4% | +12% | 5% | 16.0× | 3.8% | +10.4% |
| Taihan Cable & Solution 001440.KS | South Korea | $2.31B | -70% | +22% | 5% | 99.2× | n/a | n/a |
| Maruichi Steel Tube 5463.T | Japan | $2.32B | +5% | -2% | 14% | 11.9× | -2.7% | +8.6% |
| Zhejiang Changsheng Sliding Bearings 300718.SZ | China | $2.25B | -29% | +20% | 21% | 47.3× | 16.5% | +14.1% |
| Bossard BOSN.SW | Switzerland | $2.42B | +55% | +7% | 11% | 20.1× | 5.9% | +5.6% |
| Jyoti Cnc Automation JYOTICNC.NS | India | $2.45B | +32% | +18% | 21% | 53.8× | n/a | n/a |
| Lizhong Sitong Light Alloys 300428.SZ | China | $2.14B | -3% | +24% | 4% | 11.8× | n/a | n/a |
| NBTM New Materials 600114.SS | China | $2.14B | -40% | +6% | 9% | 22.8× | 13.8% | +13.0% |
| Hebei Huatong Wires and Cables 605196.SS | China | $1.94B | -41% | +49% | 10% | 13.4× | n/a | n/a |
| Tolerance Technology (Jiangsu) 301583.SZ | China | $2.82B | n/a | +18% | 15% | n/a | n/a | n/a |
| Avic Heavy Machinery 600765.SS | China | $2.84B | -23% | -13% | 4% | 23.1× | n/a | n/a |
| Beijer Alma BEIA-B.ST | Sweden | $1.86B | 0% | +6% | 15% | 20.7× | 9.9% | +12.8% |
| Baoding Technology 002552.SZ | China | $1.84B | +44% | +64% | 15% | n/a | 11.3% | +54.0% |
| SF Diamond 300179.SZ | China | $1.81B | -12% | +34% | 11% | 79.8× | 49.2% | +12.2% |
| Zetwerk Manufacturing Businesses ZETWERK.NS | India | $2.96B | n/a | +40% | 1% | n/a | n/a | n/a |
| Zhejiang XCC 603667.SS | China | $2.99B | -20% | -15% | 2% | 91.0× | 47.9% | +13.9% |
| Shaanxi Sirui Advanced Materials 688102.SS | China | $2.99B | -39% | +38% | 11% | 96.5× | n/a | n/a |
| Gaona Aero Material 300034.SZ | China | $1.71B | -29% | +5% | 5% | 49.0× | 21.3% | +18.5% |
| Happy Forging HAPPYFORGE.NS | India | $1.70B | +20% | +16% | 25% | 40.5× | 42.7% | +21.2% |
| Nanshan Aluminium International 2610.HK | Hong Kong | $1.67B | -45% | -19% | 21% | 7.8× | n/a | n/a |
| Azad Engineering AZAD.NS | India | $1.66B | +8% | +29% | 28% | 91.6× | n/a | n/a |