Employees: 1,478
Size Xi'An Tian He Defense Technology (300397.SZ) is a China Industrials company (Aerospace & Defense) with a market value of $713M, the 3026th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.18 on 6 Nov 2026.
Performance Over six months the shares fell 27.7%, against -40.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 69.4% over the last twelve months (peer median +4.6%); the operating margin is -4.5% (peer median -1.9%).
Valuation It trades at 31.7× forward earnings against a peer median of 26.1× (5th most expensive of 11).
Capital Return on invested capital runs 9.0 points below its cost of capital (9.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥662M | CN¥498M | CN¥396M | CN¥343M | CN¥500M |
| Revenue growth | — | +26% | +15% | -31% | — |
| Gross profit | CN¥209M | CN¥92.0M | CN¥62.8M | CN¥21.4M | CN¥98.0M |
| EBITDA | n/a | -CN¥25.4M | -CN¥46.1M | -CN¥141M | -CN¥121M |
| Net income | -CN¥52.4M | -CN¥100M | -CN¥105M | -CN¥196M | -CN¥151M |
| Free cash flow | -CN¥95.6M | -CN¥129M | -CN¥235M | -CN¥313M | -CN¥379M |
| Capital expenditure | CN¥48.9M | CN¥39.3M | CN¥133M | CN¥248M | CN¥308M |
| Total debt | CN¥745M | CN¥681M | CN¥419M | CN¥520M | CN¥386M |
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| Measure | 300397.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | -8.5% | 9th lowest of 20 |
| 6-month return | -27.7% | -40.8% | 7th highest of 20 |
| Distance from 52-week high | -47.2% | -58.2% | 6th highest of 20 |
| Revenue growth (TTM) | +69.4% | +4.6% | 3rd highest of 20 |
| Operating margin | -4.5% | -1.9% | 10th lowest of 20 |
| Forward P/E | 31.7× | 26.1× | 5th most expensive of 11 |
| ROIC minus cost of capital | -9.0 pp | -5.7 pp | 8th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xi'An Tian He Defense Technology 300397.SZ | China | $713M | -28% | +69% | -5% | 31.7× | n/a | n/a |
| Shinmaywa Industries,Ltd 7224.T | Japan | $721M | -32% | +12% | 6% | n/a | -5.6% | +6.4% |
| Chengdu ALD Aviation Manufacturing 300696.SZ | China | $733M | -58% | -18% | -12% | 79.0× | n/a | n/a |
| Shandong Senter Electronic 001388.SZ | China | $742M | -16% | +5% | 6% | n/a | 21.1% | +17.7% |
| Sun-Create Electronics 600990.SS | China | $669M | -28% | -13% | -30% | 57.1× | 35.7% | -15.1% |
| Wuxi Hyatech 688510.SS | China | $768M | -41% | -4% | 12% | 38.6× | 41.9% | +18.2% |
| Cohort CHRT.L | United Kingdom | $774M | +9% | +13% | 11% | 18.5× | n/a | n/a |
| Eve EVEX | United States | $645M | -43% | n/a | n/a | n/a | n/a | n/a |
| DroneShield DRO.AX | Australia | $818M | -60% | +153% | -14% | n/a | n/a | n/a |
| Jiangsu Maixinlin Aviation Science and Technology 688685.SS | China | $620M | -42% | -36% | -18% | 21.2× | n/a | n/a |
| York Space Systems YSS | United States | $860M | -82% | +52% | -15% | n/a | n/a | n/a |
| Nanjing LES Information Technology 688631.SS | China | $863M | -38% | -31% | -5% | 90.2× | 36.9% | -1.1% |
| Jiangxi Xinyu Guoke Technology 300722.SZ | China | $870M | -26% | +14% | 14% | n/a | 38.8% | +12.9% |
| Tonbo Imaging India TONBO.NS | India | $895M | n/a | -23% | 21% | n/a | n/a | n/a |
| Kraken Robotics PNG.V | Canada | $896M | -53% | +21% | -2% | 27.6× | n/a | n/a |
| Beijing Navigation Control Technology 688282.SS | China | $564M | -42% | -4% | -26% | n/a | n/a | n/a |
| Xi'an ChenXi Aviation Technology 300581.SZ | China | $906M | -13% | 0% | -78% | n/a | n/a | n/a |
| Avon Technologies AVON.L | United Kingdom | $933M | +45% | +5% | 12% | 22.8× | 16.3% | +7.4% |
| Satellogic SATL | United States | $535M | -54% | +369% | -67% | n/a | n/a | n/a |
| Streamax Technology 002970.SZ | China | $951M | -51% | +3% | 11% | 12.3× | n/a | n/a |
| Vincorion V1NC.DE | Germany | $982M | -5% | +18% | 12% | 24.6× | 38.0% | +47.5% |