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IT and communications-services arm of State Grid Corporation, providing grid informatization and dispatch systems.
IT and communications-services arm of State Grid Corporation, providing grid informatization and dispatch systems.
Most work comes from its parent's grid system, building and maintaining IT and communications networks under contracts that follow State Grid's investment plans. One customer therefore dominates its orders, and its fortunes depend on that group's spending priorities. State Grid Corporation, China's state-owned grid operator, controls the company.
Moat: narrow (installed base, regulatory licence). Captive supplier relationship to parent State Grid gives a stable, qualified installed base.
Headquarters: Beijing, China · Employees: 1,852
Size State Grid Information & Communication (600131.SS) is a China Utilities company (Electric Utilities) with a market value of $2.55B, the 1016th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.20 on 6 Nov 2026.
Performance Over six months the shares fell 17.1%, against -17.1% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 12.6% over the last twelve months (peer median -3.6%); the operating margin is 5.6% (peer median 14.6%).
Valuation It trades at 21.2× forward earnings against a peer median of 15.4× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.1 points above its cost of capital (6.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.4B | CN¥10.6B | CN¥10.4B | CN¥7.66B | CN¥7.60B |
| Revenue growth | — | +2% | +36% | +1% | — |
| Gross profit | CN¥1.86B | CN¥1.70B | CN¥1.93B | CN¥1.56B | CN¥1.48B |
| EBITDA | n/a | CN¥1.09B | CN¥1.18B | CN¥1.10B | CN¥1.09B |
| Net income | CN¥582M | CN¥657M | CN¥816M | CN¥828M | CN¥801M |
| Free cash flow | CN¥62.2M | CN¥1.62B | CN¥807M | CN¥625M | CN¥385M |
| Capital expenditure | CN¥438M | CN¥472M | CN¥384M | CN¥419M | CN¥576M |
| Total debt | CN¥926M | CN¥1.37B | CN¥1.47B | CN¥832M | CN¥1.04B |
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 |
|---|---|---|---|---|---|---|
| State Grid Information & Communication 600131.SS | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% |
| Willfar Information Technology 688100.SS | $1.98B | -28% | -9% | 20% | 22.4× | 17.0% |
| NARI Technology 600406.SS | $28.6B | -8% | +12% | 13% | 21.7× | 2.5% |
| Dongfang Electronics 000682.SZ | $2.06B | -21% | +14% | 7% | 13.7× | 8.9% |
| Shenzhen Clou Electronics 002121.SZ | $1.11B | -36% | +40% | -5% | 29.5× | 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 | 600131.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.8% | -5.0% | 11th highest of 21 |
| 6-month return | -17.1% | -17.1% | 11th highest of 21 |
| Distance from 52-week high | -41.1% | -37.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +12.6% | -3.6% | 3rd highest of 21 |
| Operating margin | 5.6% | 14.6% | 5th lowest of 20 |
| Forward P/E | 21.2× | 15.4× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 7.0% | 1.7% | 2nd most demanding of 9 |
| Growth delivered (Del g) | +8.7% | +9.7% | 4th lowest of 9 |
| Hurdle (Req g minus delivered) | -1.6 pp | -7.4 pp | 4th most demanding of 9 |
| ROIC minus cost of capital | +5.1 pp | -1.2 pp | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| State Grid Information & Communication 600131.SS | China | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% | +8.7% |
| An Hui Wenergy 000543.SZ | China | $2.52B | -8% | -18% | 11% | 9.2× | 1.3% | +10.4% |
| Chugoku Electric Power 9504.T | Japan | $2.41B | +18% | 0% | 0% | 9.3× | n/a | n/a |
| SJVN SJVN.NS | India | $2.38B | -28% | +99% | 48% | 15.9× | n/a | n/a |
| SPIC Green Energy 000875.SZ | China | $2.34B | -34% | -4% | 16% | 35.0× | -0.2% | +5.6% |
| Shikoku Electric Power 9507.T | Japan | $2.33B | +24% | -3% | 6% | 9.8× | n/a | n/a |
| Enea ENA.WA | Poland | $2.80B | -3% | -11% | n/a | 4.4× | -7.7% | +9.1% |
| China Southern Power Grid Energy Efficiency & Clean Energy 003035.SZ | China | $2.89B | -31% | +10% | 18% | 39.1× | 11.6% | +12.9% |
| MVV Energie MVV1.DE | Germany | $2.23B | +1% | -8% | 4% | n/a | n/a | n/a |
| Huadian Liaoning Energy Development 600396.SS | China | $2.23B | +2% | 0% | 8% | n/a | n/a | n/a |
| Kenon KEN | United States | $2.99B | -35% | +53% | 8% | n/a | n/a | n/a |
| CECEP Wind-Power 601016.SS | China | $3.00B | -28% | -8% | 24% | 30.7× | 2.0% | +11.0% |
| Henan Yuneng 001896.SZ | China | $2.14B | -39% | -6% | 5% | n/a | n/a | n/a |
| MGE Energy MGEE | United States | $3.03B | +9% | +8% | 23% | 19.0× | n/a | n/a |
| GEPIC Energy Development 000791.SZ | China | $3.23B | -18% | -30% | 40% | 10.2× | -7.8% | +32.3% |
| HCIG Energy Investment 000600.SZ | China | $2.01B | -31% | -12% | 9% | 11.1× | n/a | n/a |
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| GCL Energy Technology 002015.SZ | China | $3.27B | -24% | -3% | 15% | 21.5× | n/a | n/a |
| Otter Tail OTTR | United States | $3.29B | -11% | +1% | 23% | 14.6× | n/a | n/a |
| Avista AVA | United States | $3.37B | -1% | -1% | 19% | 15.0× | n/a | n/a |