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Hong Kong-listed aerospace holding company consolidating AVIC's helicopter, avionics and aviation-parts units.
Hong Kong-listed aerospace holding company consolidating AVIC's helicopter, avionics and aviation-parts units.
Sells to the Chinese state under long-running military and civil programmes, with orders and prices set through state procurement rather than open competition, so output follows defence plans. It holds its helicopter and avionics businesses through subsidiary companies; AVIC, the state aviation group, is the controlling shareholder.
In one line: China's Textron for helicopters/avionics.
Moat: narrow (regulatory licence, IP / patents, scale). Sole-source status within AVIC group for helicopters and key avionics under state defense procurement.
Headquarters: Beijing, China · Founded: 2003 · Employees: 71,800
Size AviChina Industry & Technology (2357.HK) is a Hong Kong Industrials company (Aerospace & Defense) with a market value of $3.11B, the 334th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.06 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against -16.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 1.9% over the last twelve months (peer median -0.5%); the operating margin is 4.8% (peer median 0.2%).
Valuation It trades at 8.1× forward earnings against a peer median of 51.1× (cheapest of 17).
Capital Return on invested capital runs 2.9 points below its cost of capital (5.6% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$100B | HK$96.7B | HK$93.9B | HK$93.3B | HK$91.3B |
| Revenue growth | — | +3% | +1% | +2% | — |
| Gross profit | HK$18.5B | HK$17.7B | HK$19.2B | HK$22.3B | HK$20.6B |
| EBITDA | HK$8.53B | HK$8.56B | HK$9.10B | HK$9.63B | HK$9.29B |
| Net income | HK$1.74B | HK$1.91B | HK$2.37B | HK$2.70B | HK$2.70B |
| Free cash flow | -HK$4.06B | -HK$13.5B | -HK$1.88B | -HK$9.43B | HK$7.41B |
| Capital expenditure | HK$5.36B | HK$5.01B | HK$4.64B | HK$5.23B | HK$4.92B |
| Total debt | n/a | HK$37.7B | HK$34.4B | HK$30.3B | HK$33.2B |
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 |
|---|---|---|---|---|---|---|
| AviChina Industry & Technology 2357.HK | $3.11B | -13% | +2% | 5% | 8.1× | n/a |
| Textron TXT | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% |
| Leonardo LDO.MI | $31.0B | -4% | +10% | 7% | 20.2× | 14.3% |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Thales HO.PA | $51.1B | -1% | +7% | 11% | 20.6× | -2.8% |
| RTX RTX | $256B | +8% | +12% | 11% | 24.4× | 8.4% |
| Hindustan Aeronautics HAL.NS | $35.2B | +4% | +7% | 23% | 33.6× | 42.7% |
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 | 2357.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | 0.0% | -0.1% | 11th highest of 21 |
| 6-month return | -12.6% | -16.5% | 10th highest of 21 |
| Distance from 52-week high | -34.3% | -40.0% | 6th highest of 21 |
| Revenue growth (TTM) | +1.9% | -0.5% | 10th highest of 20 |
| Operating margin | 4.8% | 0.2% | 7th highest of 21 |
| Forward P/E | 8.1× | 51.1× | cheapest of 17 |
| ROIC minus cost of capital | -2.9 pp | -5.9 pp | 7th highest of 21 |
| EV / EBITDA | 11.0× | 13.4× | 2nd cheapest of 5 |
| Net debt / EBITDA | -0.7× | 0.8× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 8.1× | n/a | n/a |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | n/a | n/a | n/a |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 26.0× | 38.2% | -5.4% |
| Lisi FII.PA | France | $3.27B | 0% | -8% | 10% | 22.5× | 20.4% | +7.3% |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |
| Archer Aviation ACHR | United States | $3.42B | -31% | n/a | -13,570% | n/a | n/a | n/a |
| Firefly Aerospace FLY | United States | $3.48B | -48% | +179% | -116% | n/a | n/a | n/a |
| QinetiQ QQ..L | United Kingdom | $3.51B | +26% | 0% | 10% | 15.3× | 0.1% | +8.5% |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |
| Baimtec Material 688563.SS | China | $3.53B | -12% | -1% | 15% | 38.2× | 22.7% | +14.4% |
| Avicopter 600038.SS | China | $3.54B | -8% | -6% | 1% | 33.9× | 9.1% | +8.1% |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 97.4× | 17.1% | +6.8% |
| AECC Aero-engine Control 000738.SZ | China | $3.66B | -10% | -3% | 3% | 64.0× | n/a | n/a |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 54.9× | n/a | n/a |
| Jiangxi Hongdu Aviation Industry 600316.SS | China | $3.77B | -4% | +62% | 0% | 121.0× | 53.4% | +8.0% |
| RENK R3NK.DE | Germany | $3.84B | -24% | +11% | 13% | 21.1× | 29.8% | +54.5% |
| Avic (Chengdu) UAS 688297.SS | China | $3.93B | -15% | +74% | 0% | 106.5× | n/a | n/a |
| Intuitive Machines LUNR | United States | $2.40B | -64% | +117% | -20% | n/a | n/a | n/a |
| Exail Technologies EXA.PA | France | $2.37B | +10% | +24% | -2% | 62.9× | 42.5% | +26.0% |
| Astronics ATRO | United States | $2.36B | -13% | +14% | 14% | 18.6× | 17.3% | +11.4% |
| Bharat Dynamics BDL.NS | India | $4.12B | -28% | -19% | 10% | 47.2× | n/a | n/a |