Employees: 474
Size Chengdu Road & Bridge Engineering (002628.SZ) is a China Industrials company (Engineering & Construction) with a market value of $472M, the 3999th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.21 on 6 Nov 2026.
Performance Over six months the shares fell 23.6%, against -15.9% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median -3.6%); the operating margin is -22.7% (peer median 2.8%).
Valuation It trades at 5.3× enterprise value to sales against a peer median of 1.8× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is -16%, so the hurdle is +41 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 8.1 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥824M | CN¥895M | CN¥808M | CN¥1.16B | CN¥1.33B |
| Revenue growth | — | +11% | -31% | -13% | — |
| Gross profit | CN¥55.6M | CN¥57.5M | CN¥41.7M | CN¥63.6M | CN¥64.1M |
| EBITDA | n/a | -CN¥147M | -CN¥143M | -CN¥95.2M | CN¥7.64M |
| Net income | -CN¥89.1M | -CN¥78.6M | -CN¥92.2M | CN¥4.49M | CN¥9.11M |
| Free cash flow | CN¥49.1M | -CN¥167M | CN¥140M | CN¥271M | CN¥361M |
| Capital expenditure | CN¥14.1M | CN¥6.65M | CN¥3.80M | CN¥13.5M | CN¥63.1M |
| Total debt | CN¥1.29B | CN¥1.35B | CN¥1.44B | CN¥1.52B | CN¥1.80B |
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| Measure | 002628.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.2% | -8.4% | 6th lowest of 21 |
| 6-month return | -23.6% | -15.9% | 6th lowest of 21 |
| Distance from 52-week high | -34.9% | -37.1% | 10th highest of 21 |
| Revenue growth (TTM) | +1.1% | -3.6% | 8th highest of 21 |
| Operating margin | -22.7% | 2.8% | 3rd lowest of 21 |
| EV / Sales | 5.3× | 1.8× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 24.8% | -0.4% | 4th most demanding of 12 |
| Growth delivered (Del g) | -16.2% | +1.6% | 2nd lowest of 12 |
| Hurdle (Req g minus delivered) | +41.0 pp | -7.8 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -8.1 pp | -5.1 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Poly Union Chemical 002037.SZ | China | $477M | -23% | -11% | -8% | 1.4× | n/a | n/a |
| Meisei Industrial 1976.T | Japan | $478M | -12% | -5% | 13% | 0.7× | -9.6% | +3.6% |
| Concrete Pumping BBCP | United States | $479M | +20% | +7% | 12% | 2.1× | 9.9% | +5.2% |
| TOA ROAD 1882.T | Japan | $479M | -4% | -4% | 5% | 0.5× | -8.4% | +1.6% |
| Shenzhen Glory Medical 002551.SZ | China | $479M | -17% | -3% | -17% | 2.4× | n/a | n/a |
| Hwang Chang General Contractor 2543.TW | Taiwan | $480M | -32% | +31% | 14% | 1.4× | 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% |
| Fukuda 1899.T | Japan | $483M | +10% | +6% | 6% | 0.2× | -19.9% | -2.0% |
| PRAJ Industries PRAJIND.NS | India | $486M | -38% | +2% | 2% | 1.3× | 49.1% | +19.4% |
| Zhongtongguomai Communication 603559.SS | China | $455M | -1% | +1% | -18% | 6.7× | n/a | n/a |
| Tengda Construction 600512.SS | China | $452M | -21% | +32% | -3% | 0.2× | n/a | n/a |
| Hanjia Digital Intelligence Science and Technology 300746.SZ | China | $452M | +7% | -2% | 0% | 3.4× | 47.6% | -10.5% |
| 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% |
| Hindustan Construction HCC.NS | India | $500M | -26% | -21% | 12% | 1.2× | n/a | n/a |
| Global Dominion Access DOM.MC | Spain | $442M | -16% | -10% | 6% | 0.7× | -7.5% | +0.3% |
| Zhengyuan Geomatics 688509.SS | China | $440M | -16% | -22% | -44% | 7.3× | 30.4% | -19.7% |