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Hangzhou-based maker of industrial steam turbines for refining, chemicals, metallurgy and power, plus a power-sector IT unit from Hailianxun.
Hangzhou-based maker of industrial steam turbines for refining, chemicals, metallurgy and power, plus a power-sector IT unit from Hailianxun.
Takes in orders for industrial steam turbines designed and built one at a time for refineries, chemical plants, steel mills and power projects, which now carry the company after it absorbed Hangzhou Steam Turbine in a share swap completed in February 2026. Hailianxun's earlier power-sector software business remains alongside.
Moat: narrow (process know-how, installed base, customer qualification). Custom-engineered turbines with decades of installed base and process-industry customer approvals.
Headquarters: Hangzhou, China · Founded: 1958 · Employees: 157
Size Hangzhou Turbine Power (300277.SZ) is a China Information Technology company (Information Technology Services) with a market value of $2.57B, the 1009th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.29 on 6 Nov 2026.
Performance Over six months the shares fell 37.2%, against -10.2% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 1,784.1% over the last twelve months (peer median +9.5%); the operating margin is 3.3% (peer median 8.9%).
Valuation It trades at 33.2× forward earnings against a peer median of 28.0× (7th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is -11%, so the hurdle is +47 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 8.5 points below its cost of capital (10.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.18B | CN¥195M | CN¥227M | CN¥219M | CN¥257M |
| Revenue growth | — | -14% | +4% | -15% | — |
| Gross profit | CN¥1.25B | CN¥46.9M | CN¥50.3M | CN¥44.6M | CN¥49.4M |
| EBITDA | n/a | CN¥4.88M | CN¥11.6M | CN¥8.50M | CN¥11.8M |
| Net income | CN¥423M | CN¥2.24M | CN¥9.46M | CN¥10.8M | CN¥10.3M |
| Free cash flow | CN¥477M | CN¥21.8M | CN¥45.0M | CN¥34.8M | -CN¥19.5M |
| Capital expenditure | CN¥82.0M | CN¥484,307 | CN¥60,700 | CN¥312,058 | CN¥807,381 |
| Total debt | CN¥1.73B | CN¥1.79M | CN¥1.80M | CN¥6.54M | CN¥3.33M |
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 |
|---|---|---|---|---|---|---|
| Hangzhou Turbine Power 300277.SZ | $2.57B | -37% | +1,784% | 3% | 33.2× | 36.4% |
| Dongfang Electric 600875.SS | $12.9B | -42% | +2% | 5% | 16.1× | n/a |
| Shanghai Electric 601727.SS | $12.3B | -24% | +16% | n/a | 64.2× | -5.7% |
| Harbin Electric 1133.HK | $3.27B | -54% | +13% | 7% | 6.2× | n/a |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
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 | 300277.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.8% | -0.8% | 6th lowest of 21 |
| 6-month return | -37.2% | -10.2% | 3rd lowest of 21 |
| Distance from 52-week high | -57.1% | -34.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +1,784.1% | +9.5% | highest of 21 |
| Operating margin | 3.3% | 8.9% | 5th lowest of 21 |
| Forward P/E | 33.2× | 28.0× | 7th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 36.4% | 16.9% | 2nd most demanding of 14 |
| Growth delivered (Del g) | -10.7% | +10.2% | lowest of 14 |
| Hurdle (Req g minus delivered) | +47.1 pp | +3.3 pp | most demanding of 14 |
| ROIC minus cost of capital | -8.5 pp | +5.2 pp | 3rd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Turbine Power 300277.SZ | China | $2.57B | -37% | +1,784% | 3% | 33.2× | 36.4% | -10.7% |
| Fastly FSLY | United States | $2.52B | -23% | +20% | -12% | 24.4× | 37.8% | +16.5% |
| Tata Elxsi TATAELXSI.NS | India | $2.52B | -10% | +10% | 20% | 32.7× | 25.3% | +15.5% |
| Shanghai AtHub 603881.SS | China | $2.66B | -33% | -5% | 16% | 101.4× | 16.9% | +13.6% |
| Shanghai Sunmi Technology 6810.HK | Hong Kong | $2.70B | -10% | +10% | 7% | n/a | n/a | n/a |
| Netcompany Group A/S NETC.CO | Denmark | $2.44B | +1% | +30% | 11% | 20.4× | n/a | n/a |
| Runjian 002929.SZ | China | $2.71B | +6% | -11% | 0% | 49.7× | n/a | n/a |
| Beijing Ultrapower Software 300002.SZ | China | $2.43B | -14% | +9% | 15% | 20.4× | 4.2% | +10.2% |
| OVH Groupe OVH.PA | France | $2.41B | +17% | +6% | 38% | 46.6× | n/a | n/a |
| HMS Networks HMS.ST | Sweden | $2.41B | -17% | +15% | 27% | 31.9× | 14.3% | +19.5% |
| Tieto TIETO.HE | Finland | $2.26B | -5% | -17% | 20% | 10.4× | -6.4% | -7.8% |
| Hand Enterprise Solutions 300170.SZ | China | $2.24B | -26% | +7% | 6% | 48.8× | 27.4% | +6.5% |
| Posco Dx 022100.KS | South Korea | $2.24B | -43% | -15% | 3% | 69.6× | 34.8% | +2.2% |
| Glodon 002410.SZ | China | $2.15B | -21% | -4% | 8% | 31.6× | 5.4% | +8.8% |
| Beijing Teamsun Technology 600410.SS | China | $2.09B | -42% | +19% | -9% | n/a | 26.0% | +3.6% |
| Xi'an Bright Laser Technologies 688333.SS | China | $3.22B | -11% | +12% | 6% | 69.2× | n/a | n/a |
| Globant GLOB | United States | $2.05B | +21% | -1% | 10% | 8.0× | -1.2% | +24.7% |
| PC Connection CNXN | United States | $2.00B | +19% | +10% | 4% | 16.6× | n/a | n/a |
| Atea ATEA.OL | Norway | $1.99B | +6% | +12% | 4% | 16.4× | -5.0% | -1.1% |
| GMO Internet 9449.T | Japan | $1.94B | -4% | +6% | 21% | 13.4× | n/a | n/a |
| Kainos KNOS.L | United Kingdom | $1.92B | +57% | +17% | 11% | 23.2× | 21.7% | +12.9% |