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Chinese civil-explosives maker and mining blasting-services provider, also diversified into environmental and defense-related engineering.
Chinese civil-explosives maker and mining blasting-services provider, also diversified into environmental and defense-related engineering.
Sells explosives together with blasting services, so it can bundle the charge, drilling and detonation into one contract, and government capacity licences limit new competition. Mining activity and infrastructure projects set demand.
In one line: A Chinese Orica/Dyno Nobel for civil explosives and blasting services.
Moat: narrow (regulatory licence). Civil-explosives production and blasting require government safety licences that limit new entrants.
Headquarters: Guangzhou, Guangdong, China · Employees: 17,065
Size Guangdong Hongda (002683.SZ) is a China Industrials company (Engineering & Construction) with a market value of $3.86B, the 668th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.83 on 6 Nov 2026.
Performance Over six months the shares fell 6.9%, against -17.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 14.8% over the last twelve months (peer median +5.9%); the operating margin is 10.3% (peer median 8.3%).
Valuation It trades at 23.7× forward earnings against a peer median of 15.9× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (6.9% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.7B | CN¥20.3B | CN¥13.6B | CN¥11.6B | CN¥10.1B |
| Revenue growth | — | +49% | +18% | +14% | — |
| Gross profit | CN¥5.64B | CN¥3.98B | CN¥2.75B | CN¥2.27B | CN¥1.81B |
| EBITDA | n/a | CN¥3.19B | CN¥2.02B | CN¥1.66B | CN¥1.37B |
| Net income | CN¥999M | CN¥957M | CN¥898M | CN¥716M | CN¥561M |
| Free cash flow | CN¥466M | CN¥1.18B | CN¥1.17B | CN¥611M | CN¥301M |
| Capital expenditure | CN¥1.51B | CN¥1.18B | CN¥670M | CN¥861M | CN¥721M |
| Total debt | CN¥13.8B | CN¥12.1B | CN¥7.08B | CN¥4.35B | CN¥4.81B |
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 |
|---|---|---|---|---|---|---|
| Guangdong Hongda 002683.SZ | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% |
| Orica ORI.AX | $7.23B | +1% | +2% | 11% | 18.2× | 6.9% |
| Sichuan Yahua Industrial 002497.SZ | $2.48B | -56% | +69% | 18% | 6.2× | n/a |
| Explosive 002096.SZ | $1.74B | -14% | -3% | 9% | 12.8× | -2.5% |
| Poly Union Chemical 002037.SZ | $477M | -23% | -11% | -8% | n/a | n/a |
| Dyno Nobel DNL.AX | $4.64B | +6% | -17% | 15% | 21.1× | 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 | 002683.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.5% | -4.8% | highest of 21 |
| 6-month return | -6.9% | -17.9% | 7th highest of 21 |
| Distance from 52-week high | -38.5% | -43.7% | 10th highest of 21 |
| Revenue growth (TTM) | +14.8% | +5.9% | 8th highest of 21 |
| Operating margin | 10.3% | 8.3% | 9th highest of 21 |
| Forward P/E | 23.7× | 15.9× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.9% | 5.8% | 8th least demanding of 17 |
| Growth delivered (Del g) | +26.1% | +11.5% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -21.2 pp | -2.1 pp | 2nd least demanding of 17 |
| ROIC minus cost of capital | +1.6 pp | +2.4 pp | 9th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |