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Maker of semi-trailers and specialty truck bodies, majority owned by container giant CIMC.
Maker of semi-trailers and specialty truck bodies, majority owned by container giant CIMC.
Sells trailers and truck bodies to fleets and dealers, so volumes follow freight activity and fleet replacement, while steel and other material costs swing margins. CIMC, the container maker, owns the majority, and the company builds in China and several other countries.
In one line: China's Wabash National.
Moat: narrow (scale, distribution). World's largest trailer maker by volume via CIMC's global manufacturing and plant network.
Headquarters: Shenzhen, China · Founded: 1996 · Employees: 9,316
Size CIMC Vehicles (Group) (301039.SZ) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $2.07B, the 1217th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.35 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +11.9%); the operating margin is 4.2% (peer median 6.7%).
Valuation It trades at 16.6× forward earnings against a peer median of 11.4× (5th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is -5%, so the hurdle is +1 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 1.0 points above its cost of capital (8.8% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.3B | CN¥20.1B | CN¥21.0B | CN¥25.1B | CN¥23.6B |
| Revenue growth | — | -4% | -16% | +6% | — |
| Gross profit | CN¥3.52B | CN¥2.99B | CN¥3.22B | CN¥4.53B | CN¥2.94B |
| EBITDA | n/a | CN¥1.64B | CN¥1.85B | CN¥2.62B | CN¥1.66B |
| Net income | CN¥768M | CN¥904M | CN¥1.09B | CN¥2.46B | CN¥1.12B |
| Free cash flow | CN¥1.11B | CN¥1.11B | CN¥1.77B | CN¥1.29B | CN¥617M |
| Capital expenditure | CN¥544M | CN¥460M | CN¥421M | CN¥519M | CN¥538M |
| Total debt | CN¥1.28B | CN¥1.56B | CN¥1.42B | CN¥1.77B | CN¥1.92B |
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 |
|---|---|---|---|---|---|---|
| CIMC Vehicles (Group) 301039.SZ | $2.07B | -18% | +6% | 4% | 16.6× | -4.3% |
| Wabash National WNC | $444M | +46% | -7% | -10% | n/a | n/a |
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 | 301039.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +0.3% | 11th highest of 21 |
| 6-month return | -17.7% | -10.8% | 7th lowest of 21 |
| Distance from 52-week high | -31.3% | -31.5% | 11th highest of 21 |
| Revenue growth (TTM) | +5.6% | +11.9% | 5th lowest of 21 |
| Operating margin | 4.2% | 6.7% | 5th lowest of 21 |
| Forward P/E | 16.6× | 11.4× | 5th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -4.3% | 2.2% | 4th least demanding of 16 |
| Growth delivered (Del g) | -5.2% | +6.6% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | +0.9 pp | -6.7 pp | 7th most demanding of 16 |
| ROIC minus cost of capital | +1.0 pp | -0.7 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CIMC Vehicles (Group) 301039.SZ | China | $2.07B | -18% | +6% | 4% | 16.6× | -4.3% | -5.2% |
| NFI NFI.TO | Canada | $2.06B | +13% | +15% | 2% | 11.0× | 12.0% | +9.3% |
| Anhui Heli 600761.SS | China | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% | +9.2% |
| Shantui Construction Machinery 000680.SZ | China | $2.06B | -22% | +14% | 10% | 9.8× | -4.4% | +15.6% |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 8.7× | 16.0% | -11.3% |
| Sumec 600710.SS | China | $2.18B | -9% | +14% | 4% | 9.8× | -17.2% | +3.6% |
| First Tractor 601038.SS | China | $1.95B | +2% | +12% | 6% | 17.5× | -1.6% | +7.5% |
| Takeuchi Mfg.Co 6432.T | Japan | $2.21B | +4% | +12% | 16% | 10.6× | 4.0% | +14.9% |
| ZHEJIANG ZHONGJIAN TECHNOLOGY 002779.SZ | China | $2.26B | +2% | +28% | -17% | 150.7× | n/a | n/a |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | n/a | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 11.5× | 3.6% | +1.9% |
| Trinity Industries TRN | United States | $2.30B | -20% | -2% | 13% | 15.8× | n/a | n/a |
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | n/a | -4.0% | +2.6% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 9.4× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% | +5.0% |