Employees: 1,550
Size Guangzhou Hangxin Aviation Technology (300424.SZ) is a China Industrials company (Other Transportation) with a market value of $457M, the 4076th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.86 on 6 Nov 2026.
Performance Over six months the shares fell 35.4%, against -15.3% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +2.3%); the operating margin is -2.6% (peer median 11.0%).
Valuation It trades at 2.3× enterprise value to sales against a peer median of 2.2× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.9 points below its cost of capital (6.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.68B | CN¥1.75B | CN¥1.70B | CN¥1.57B | CN¥1.39B |
| Revenue growth | — | +3% | +8% | +13% | — |
| Gross profit | CN¥348M | CN¥448M | CN¥415M | CN¥419M | CN¥367M |
| EBITDA | CN¥65.2M | CN¥116M | CN¥32.1M | CN¥130M | CN¥127M |
| Net income | -CN¥78.7M | -CN¥45.1M | -CN¥95.4M | CN¥24.0M | CN¥27.0M |
| Free cash flow | CN¥209M | CN¥137M | -CN¥24.3M | -CN¥43.8M | CN¥81.6M |
| Capital expenditure | CN¥60.6M | CN¥56.6M | CN¥79.7M | CN¥92.0M | CN¥41.9M |
| Total debt | CN¥996M | CN¥1.01B | CN¥997M | CN¥1.08B | CN¥959M |
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| Measure | 300424.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.8% | -6.4% | 10th highest of 21 |
| 6-month return | -35.4% | -15.3% | 3rd lowest of 21 |
| Distance from 52-week high | -49.1% | -32.6% | 7th lowest of 21 |
| Revenue growth (TTM) | -1.4% | +2.3% | 7th lowest of 21 |
| Operating margin | -2.6% | 11.0% | 6th lowest of 21 |
| EV / Sales | 2.3× | 2.2× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | -3.9% | 8th most demanding of 18 |
| Growth delivered (Del g) | +7.5% | +9.4% | 9th lowest of 18 |
| Hurdle (Req g minus delivered) | -4.3 pp | -11.4 pp | 7th most demanding of 18 |
| ROIC minus cost of capital | -8.9 pp | +0.1 pp | 4th lowest of 21 |
| Net debt / EBITDA | 11.5× | -0.2× | most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangzhou Hangxin Aviation Technology 300424.SZ | China | $457M | -35% | -1% | -3% | 2.3× | 3.2% | +7.5% |
| Tianjin Port Development 3382.HK | Hong Kong | $478M | -14% | -21% | 21% | 1.7× | -8.3% | -5.5% |
| Subaru Enterprise 9632.T | Japan | $424M | +48% | 0% | 15% | 1.7× | -6.0% | +1.5% |
| Sichuan Fulin Transportation 002357.SZ | China | $496M | -10% | -2% | -8% | 4.1× | 43.1% | +5.3% |
| Beijing Changjiu Logistics 603569.SS | China | $502M | -17% | -47% | -1% | 1.8× | 6.2% | -2.0% |
| Guangdong Great River Smarter Logistics 002930.SZ | China | $507M | -43% | +5% | -8% | 6.8× | 8.9% | +7.1% |
| Shanghai Shentong Metro 600834.SS | China | $520M | -9% | +1% | 8% | 3.8× | 11.4% | +14.6% |
| Hainan Haiqi Transportation 603069.SS | China | $548M | -32% | -22% | -20% | 8.4× | n/a | n/a |
| China Hi-Tech 600730.SS | China | $548M | -31% | +16% | -32% | 20.9× | n/a | n/a |
| Delixi New Energy Technology 603032.SS | China | $550M | -33% | +27% | 17% | 6.0× | 33.8% | +61.4% |
| Longzhou 002682.SZ | China | $371M | -27% | +5% | -17% | 2.3× | 9.9% | -7.4% |
| Toscana Aeroporti TYA.MI | Italy | $371M | -2% | +13% | 22% | 2.9× | -3.9% | +23.6% |
| Bohai Ferry 603167.SS | China | $565M | -10% | -5% | 14% | 2.2× | -8.4% | +9.6% |
| Anhui Jiuhuashan Tourism Development 603199.SS | China | $573M | -5% | +6% | 32% | 3.8× | -4.0% | +21.3% |
| Nanjing Port 002040.SZ | China | $576M | -21% | +2% | 31% | 4.2× | -4.8% | +6.7% |
| Aeroporto Guglielmo Marconi di Bologna ADB.MI | Italy | $361M | +3% | +10% | 18% | 2.0× | -1.8% | +22.0% |
| Mobico MCG.L | United Kingdom | $360M | +103% | +5% | 5% | 0.5× | n/a | n/a |
| Transport International 0062.HK | Hong Kong | $592M | -16% | +1% | 6% | 0.7× | -8.6% | +6.4% |
| Ernst Russ ERAG.DE | Germany | $335M | +5% | -9% | 28% | 1.4× | -8.8% | +22.3% |
| Verra Mobility VRRM | United States | $333M | -85% | +6% | 23% | 1.3× | -20.4% | +20.0% |
| West Shanghai Automotive Service 605151.SS | China | $327M | -25% | +3% | 4% | 1.0× | 3.8% | +9.4% |