Loading…
Port operator running Qinhuangdao Port, one of China's largest coal-export terminals.
Port operator running Qinhuangdao Port, one of China's largest coal-export terminals.
The Hong Kong line of the same company as the Shanghai-listed shares. Earns fees per tonne for unloading, storing and loading coal and other bulk cargo, so income follows the volume moved through its terminals. The Hebei provincial port group is the controlling shareholder.
In one line: China's answer to a major coal-export port authority.
Moat: narrow (regulatory licence, installed base). Strategic position as one of China's largest coal-export hubs linking northern coal mines to southern demand centers.
Headquarters: Qinhuangdao, Hebei, China · Employees: 8,348
Size Qinhuangdao Port (3369.HK) is a Hong Kong Industrials company (Other Transportation) with a market value of $2.77B, the 357th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.61 on 6 Nov 2026.
Performance Over six months the shares gained 5.2%, against -7.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +4.6%); the operating margin is 23.1% (peer median 10.7%).
Valuation It trades at 6.7× forward earnings against a peer median of 14.6× (cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (5.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$8.03B | HK$7.56B | HK$7.43B | HK$7.78B | HK$8.03B |
| Revenue growth | — | +2% | -5% | -3% | — |
| Gross profit | HK$4.32B | HK$3.08B | HK$2.77B | HK$2.85B | HK$3.01B |
| EBITDA | n/a | HK$3.17B | HK$2.97B | HK$3.26B | HK$3.23B |
| Net income | HK$1.84B | HK$1.74B | HK$1.70B | HK$1.69B | HK$1.52B |
| Free cash flow | HK$2.16B | HK$2.06B | HK$1.72B | HK$1.55B | HK$2.25B |
| Capital expenditure | HK$845M | HK$971M | HK$1.14B | HK$1.17B | HK$826M |
| Total debt | HK$4.19B | HK$4.31B | HK$5.53B | HK$6.78B | HK$7.79B |
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 |
|---|---|---|---|---|---|---|
| Qinhuangdao Port 3369.HK | $2.77B | +5% | +7% | 23% | 6.7× | -13.2% |
| Liaoning Port 2880.HK | $4.53B | -26% | +1% | 21% | n/a | -9.0% |
| Tangshan Port 601000.SS | $4.27B | +3% | +10% | 39% | 13.9× | -11.0% |
| Tianjin Port 600717.SS | $1.89B | -2% | -8% | 18% | n/a | -14.6% |
| Rizhao Port 600017.SS | $1.26B | -7% | +3% | 13% | 17.1× | n/a |
| Qingdao Port International 601298.SS | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% |
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 | 3369.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.7% | +0.2% | highest of 21 |
| 6-month return | +5.2% | -7.5% | 7th highest of 21 |
| Distance from 52-week high | -27.1% | -17.3% | 5th lowest of 21 |
| Revenue growth (TTM) | +6.6% | +4.6% | 9th highest of 21 |
| Operating margin | 23.1% | 10.7% | 3rd highest of 21 |
| Forward P/E | 6.7× | 14.6× | cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -13.2% | -1.7% | least demanding of 15 |
| Growth delivered (Del g) | +2.0% | +8.8% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | -15.2 pp | -6.1 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +3.6 pp | -0.4 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Qinhuangdao Port 3369.HK | Hong Kong | $2.77B | +5% | +7% | 23% | 6.7× | -13.2% | +2.0% |
| Sankyu 9065.T | Japan | $2.76B | -9% | 0% | 7% | 12.2× | -1.1% | +3.4% |
| Kamigumi 9364.T | Japan | $2.71B | -12% | +5% | 12% | 15.5× | -3.2% | +1.9% |
| Sichuan Expressway 0107.HK | Hong Kong | $2.84B | -11% | +8% | 26% | 8.0× | n/a | n/a |
| Xiamen Port Development 000905.SZ | China | $2.87B | -25% | +14% | 4% | n/a | 4.2% | +7.1% |
| Shenzhen Expressway 0548.HK | Hong Kong | $2.91B | -12% | 0% | 17% | 9.3× | 0.0% | +2.2% |
| Xiamen Xiangyu 600057.SS | China | $2.59B | -14% | +9% | 1% | 8.7× | n/a | n/a |
| SIA Engineering S59.SI | Singapore | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% | +26.3% |
| Beibu Gulf Port 000582.SZ | China | $3.14B | -25% | -1% | 21% | 18.6× | n/a | n/a |
| Guangzhou Baiyun International Airport 600004.SS | China | $3.18B | -6% | +9% | 11% | 25.2× | -12.5% | +8.8% |
| ENAV ENAV.MI | Italy | $3.19B | +8% | +3% | 9% | 26.9× | 13.8% | +6.0% |
| Nagoya Railroad 9048.T | Japan | $2.38B | +8% | -2% | 5% | 11.0× | n/a | n/a |
| COSCO SHIPPING Ports 1199.HK | Hong Kong | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% | +10.9% |
| Japan Airport Terminal 9706.T | Japan | $3.46B | +16% | +8% | 17% | 19.2× | -2.3% | +40.7% |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 15.0× | -8.2% | +9.3% |
| Guangzhou Port 601228.SS | China | $3.54B | -3% | -18% | 11% | n/a | n/a | n/a |
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% | +11.4% |
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 13.1× | n/a | n/a |
| Atlas Arteria ALX.AX | Australia | $3.78B | -21% | +2% | -20% | 20.6× | -3.5% | +8.9% |
| Wilh. Wilhelmsen WWI.OL | Norway | $3.87B | +23% | -4% | 10% | 8.4× | 6.2% | +11.0% |
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% | +1.7% |