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Employees: 3,556
Size Shanxi Installation (2520.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $408M, the 814th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.33 on 6 Nov 2026.
Performance Over six months the shares gained 25.3%, against -12.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd highest of 19 in its peer set.
Growth Revenue fell 16.4% over the last twelve months (peer median +1.7%); the operating margin is 3.0% (peer median 5.8%).
Valuation It trades at 1.4× enterprise value to sales against a peer median of 2.0× (9th cheapest of 20).
Capital Return on invested capital runs 3.3 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$10.6B | HK$11.4B | HK$13.3B | HK$12.1B | HK$14.9B |
| Revenue growth | — | -14% | +10% | -19% | — |
| Gross profit | HK$1.20B | HK$1.25B | HK$1.59B | HK$1.49B | HK$2.12B |
| EBITDA | HK$452M | HK$448M | HK$471M | HK$493M | HK$806M |
| Net income | HK$149M | HK$150M | HK$167M | HK$171M | HK$175M |
| Free cash flow | -HK$2.65B | -HK$1.98B | HK$345M | -HK$255M | -HK$289M |
| Capital expenditure | HK$222M | HK$55.6M | HK$74.7M | HK$849M | HK$391M |
| Total debt | n/a | HK$11.3B | HK$8.82B | HK$8.48B | HK$7.11B |
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.
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 | 2520.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.9% | -6.0% | 2nd highest of 20 |
| 6-month return | +25.3% | -12.1% | 2nd highest of 19 |
| Distance from 52-week high | -9.3% | -32.3% | highest of 21 |
| Revenue growth (TTM) | -16.4% | +1.7% | 3rd lowest of 20 |
| Operating margin | 3.0% | 5.8% | 6th lowest of 20 |
| EV / Sales | 1.4× | 2.0× | 9th cheapest of 20 |
| ROIC minus cost of capital | -3.3 pp | +0.5 pp | 6th lowest of 19 |
| Net debt / EBITDA | 23.9× | -0.5× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanxi Installation 2520.HK | Hong Kong | $408M | +25% | -16% | 3% | 1.4× | n/a | n/a |
| Tomoe 1921.T | Japan | $408M | -5% | +3% | 14% | 2.1× | -2.9% | +8.5% |
| Fujian Tendering 301136.SZ | China | $409M | -39% | -5% | -4% | 3.0× | n/a | n/a |
| Kawada Technologies 3443.T | Japan | $411M | -17% | -11% | 8% | 0.5× | -10.4% | -0.1% |
| Daiho 1822.T | Japan | $405M | +2% | +1% | 5% | 0.3× | -12.7% | -2.9% |
| Zhong Fu Tong 300560.SZ | China | $405M | -18% | +15% | -1% | 2.8× | n/a | n/a |
| Qilu Expressway 1576.HK | Hong Kong | $412M | -10% | -53% | 29% | 6.6× | 5.5% | +6.3% |
| Anhui Gourgen Traffic Construction 603815.SS | China | $404M | -40% | -32% | -29% | 1.4× | n/a | n/a |
| LCC Projects LCCPROJECT.NS | India | $414M | n/a | +23% | 12% | 1.2× | 8.6% | +43.2% |
| YCIC Eco-Technology 002200.SZ | China | $401M | -22% | +41% | 0% | 3.0× | 34.5% | +14.0% |
| Daiichi Kensetsu 1799.T | Japan | $401M | -16% | +15% | 10% | 0.7× | -6.4% | +1.8% |
| Da Yi Cheng Technology 7951.TWO | Taiwan | $398M | n/a | n/a | n/a | n/a | n/a | n/a |
| Chengdu Expressway 1785.HK | Hong Kong | $395M | -8% | +2% | 27% | 2.0× | n/a | n/a |
| Phoenix Asia PHOE | United States | $395M | +18% | -2% | -17% | 427.7× | n/a | n/a |
| Shape Australia SHA.AX | Australia | $395M | -14% | +30% | 3% | 0.4× | -1.0% | +16.6% |
| Nichireki 5011.T | Japan | $394M | 0% | +1% | 8% | 0.8× | n/a | n/a |
| Asanuma 1852.T | Japan | $425M | -9% | -4% | 5% | 0.3× | -17.6% | +4.8% |
| Wee Hur E3B.SI | Singapore | $425M | -18% | +22% | 26% | 2.1× | -14.2% | +9.2% |
| Superland 0368.HK | Hong Kong | $392M | +405% | -6% | 6% | 4.0× | n/a | n/a |
| GE Power India GVPIL.NS | India | $427M | -10% | +19% | 23% | 3.1× | 17.8% | -17.6% |
| Multiconsult MULTI.OL | Norway | $390M | -17% | +4% | 5% | 0.7× | -5.8% | +9.6% |