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Chinese state-linked automotive proving-ground operator providing vehicle testing tracks and R&D services, tied to CATARC.
Chinese state-linked automotive proving-ground operator providing vehicle testing tracks and R&D services, tied to CATARC.
Charges automakers fees for track time, test programmes and development services, so revenue follows how many new models carmakers put through validation, now including electric and driver-assistance tests. CATARC, a state-owned auto research and standards body, controls it.
In one line: A China-based vehicle proving-ground/testing operator.
Moat: narrow (regulatory licence, installed base). State-linked testing infrastructure with scale that is costly to replicate.
Headquarters: Tianjin, China · Employees: 127
Size CATARC Automotive Proving Ground (301215.SZ) is a China Consumer Discretionary company (Other Consumer Services) with a market value of $1.10B, the 2133rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.53 on 6 Nov 2026.
Performance Over six months the shares fell 11.5%, against -15.8% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 22.7% over the last twelve months (peer median +3.6%); the operating margin is 43.1% (peer median 13.0%).
Valuation It trades at 10.7× enterprise value to sales against a peer median of 2.3× (5th most expensive of 21).
Capital Return on invested capital runs 2.9 points above its cost of capital (6.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥689M | CN¥577M | CN¥517M | CN¥357M | CN¥325M |
| Revenue growth | — | +12% | +45% | +10% | — |
| Gross profit | CN¥547M | CN¥338M | CN¥294M | CN¥245M | CN¥211M |
| EBITDA | n/a | CN¥345M | CN¥273M | CN¥230M | CN¥200M |
| Net income | CN¥269M | CN¥213M | CN¥175M | CN¥165M | CN¥142M |
| Free cash flow | -CN¥167M | CN¥127M | -CN¥108M | -CN¥145M | -CN¥128M |
| Capital expenditure | CN¥440M | CN¥181M | CN¥378M | CN¥395M | CN¥253M |
| Total debt | CN¥1.26B | CN¥26.5M | CN¥14.3M | CN¥2.49M | CN¥0 |
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 | 301215.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | -3.6% | 6th highest of 21 |
| 6-month return | -11.5% | -15.8% | 9th highest of 21 |
| Distance from 52-week high | -25.5% | -38.1% | 6th highest of 21 |
| Revenue growth (TTM) | +22.7% | +3.6% | 2nd highest of 21 |
| Operating margin | 43.1% | 13.0% | 2nd highest of 21 |
| EV / Sales | 10.7× | 2.3× | 5th most expensive of 21 |
| ROIC minus cost of capital | +2.9 pp | +3.2 pp | 10th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CATARC Automotive Proving Ground 301215.SZ | China | $1.10B | -12% | +23% | 43% | 10.7× | n/a | n/a |
| Zhang Jia Jie Tourism 000430.SZ | China | $1.15B | -22% | +20% | -81% | 13.6× | n/a | n/a |
| Strategic Education STRA | United States | $1.16B | -35% | +4% | 16% | 0.9× | -12.6% | +4.3% |
| AcadeMedia ACAD.ST | Sweden | $1.22B | +20% | +8% | 7% | 1.3× | -1.8% | +8.7% |
| Afya AFYA | United States | $960M | -25% | +17% | 32% | 1.9× | -16.3% | +23.2% |
| Sats SATS.OL | Norway | $937M | +10% | +5% | 18% | 2.6× | -5.9% | +10.6% |
| Shoucheng 0697.HK | Hong Kong | $1.33B | -27% | -1% | 16% | 5.8× | 21.2% | +15.3% |
| Voyageurs du Monde ALVDM.PA | France | $896M | +28% | +4% | 8% | 0.7× | 1.8% | +46.3% |
| Trainline TRN.L | United Kingdom | $887M | -5% | +1% | 27% | 2.0× | -8.0% | +46.5% |
| Webbeds WEB.AX | Australia | $871M | +45% | +20% | 25% | 2.6× | 4.5% | +50.3% |
| Dongguan Kingsun Optoelectronic 002638.SZ | China | $849M | -16% | -24% | -34% | 15.5× | n/a | n/a |
| Shaanxi Tourism Culture Industry 603402.SS | China | $832M | -36% | -18% | 54% | 3.1× | -15.9% | +27.6% |
| TripAdvisor TRIP | United States | $820M | -38% | -4% | 5% | 0.5× | -6.6% | +25.6% |
| China Travel International Investment Hong Kong 0308.HK | Hong Kong | $809M | 0% | -7% | 11% | 1.9× | 5.4% | +15.7% |
| Mader MAD.AX | Australia | $806M | -29% | +15% | 9% | 1.1× | 5.2% | +26.9% |
| Caissa Tourism 000796.SZ | China | $805M | -36% | +42% | -10% | 5.5× | n/a | n/a |
| Dalian Sunasia Tourism 600593.SS | China | $793M | +19% | +5% | 32% | 12.0× | n/a | n/a |
| Emei Shan Tourism 000888.SZ | China | $789M | -16% | -8% | 15% | 3.9× | 3.2% | +15.1% |
| Changbai Mountain Tourism 603099.SS | China | $1.54B | +8% | +2% | 20% | 12.3× | 15.4% | +39.7% |
| UTour 002707.SZ | China | $740M | -15% | -9% | 2% | 0.6× | 9.7% | +33.8% |
| China CYTS Tours 600138.SS | China | $737M | -25% | +15% | 3% | 1.0× | 1.5% | +9.7% |