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State-owned maker of Chinese military combat aircraft such as the J-20 and J-10, plus aircraft parts and sensors.
State-owned maker of Chinese military combat aircraft such as the J-20 and J-10, plus aircraft parts and sensors.
Following a share-issue reorganisation approved in 2024 and a 2025 renaming, it now holds the Chengdu Aircraft group and earns mainly from delivering military aircraft and parts to the Chinese armed forces under state orders, so revenue arrives in batches. Its older sensor and instrument businesses continue. AVIC, the state aerospace group, controls it.
Moat: wide (regulatory licence, customer qualification). State-owned prime contractor on China's frontline fighters; entry is barred by licensing and qualification.
Headquarters: Chengdu, China · Founded: 1958 · Employees: 26,595
Size AVIC Chengdu Aircraft (302132.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $28.0B, the 66th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥70.00 on 6 Nov 2026.
Performance Over six months the shares gained 4.3%, against -24.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 18 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +17.1%); the operating margin is 4.5% (peer median 21.9%).
Valuation It trades at 49.6× forward earnings against a peer median of 23.9× (3rd most expensive of 19).
Capital Return on invested capital runs 0.2 points above its cost of capital (9.8% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥50.5B | CN¥75.3B | CN¥64.9B | CN¥1.66B | CN¥1.90B |
| Revenue growth | — | +16% | +3,798% | -12% | — |
| Gross profit | CN¥6.45B | CN¥6.04B | CN¥6.64B | CN¥502M | CN¥656M |
| EBITDA | n/a | CN¥6.45B | CN¥5.48B | CN¥110M | CN¥232M |
| Net income | CN¥2.14B | CN¥3.43B | CN¥3.22B | CN¥98.2M | CN¥193M |
| Free cash flow | -CN¥13.6B | -CN¥4.36B | -CN¥13.8B | -CN¥103M | -CN¥166M |
| Capital expenditure | CN¥2.04B | CN¥1.83B | CN¥1.62B | CN¥239M | CN¥221M |
| Total debt | CN¥11.6B | CN¥19.0B | CN¥16.5B | CN¥688M | CN¥360M |
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 |
|---|---|---|---|---|---|---|
| AVIC Chengdu Aircraft 302132.SZ | $28.0B | +4% | +3% | 5% | 49.6× | n/a |
| AVIC Shenyang Aircraft 600760.SS | $20.8B | +4% | -1% | 8% | 45.1× | n/a |
| AVIC Xi'an Aircraft Industry 000768.SZ | $9.92B | +1% | -34% | 3% | 55.7× | n/a |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Dassault Aviation AM.PA | $26.0B | +6% | +33% | 9% | 19.6× | 5.2% |
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 | 302132.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.8% | -16.7% | highest of 19 |
| 6-month return | +4.3% | -24.5% | 4th highest of 18 |
| Distance from 52-week high | -23.8% | -38.7% | 6th highest of 19 |
| Revenue growth (TTM) | +3.3% | +17.1% | 5th lowest of 18 |
| Operating margin | 4.5% | 21.9% | 4th lowest of 18 |
| Forward P/E | 49.6× | 23.9× | 3rd most expensive of 19 |
| ROIC minus cost of capital | +0.2 pp | +2.8 pp | 5th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AVIC Chengdu Aircraft 302132.SZ | China | $28.0B | +4% | +3% | 5% | 49.6× | n/a | n/a |
| Hexagon HEXA-B.ST | Sweden | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% | +8.7% |
| BOE Technology 000725.SZ | China | $25.3B | +9% | -4% | 2% | 21.4× | -3.9% | +8.6% |
| Qnity Electronics Q | United States | $24.5B | -21% | +18% | 23% | 20.2× | 22.1% | 0.0% |
| Legrand LR.PA | France | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% | +9.2% |
| Hon Precision 7769.TW | Taiwan | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% | +31.0% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Keysight Technologies KEYS | United States | $46.3B | -24% | +26% | 24% | 20.3× | 20.9% | +5.0% |
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| Keyence 6861.T | Japan | $107B | -2% | +25% | 54% | 28.7× | 21.1% | +16.8% |