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China's largest listed shipbuilder, building commercial vessels (container ships, tankers, bulk carriers) and naval vessels.
China's largest listed shipbuilder, building commercial vessels (container ships, tankers, bulk carriers) and naval vessels.
Is paid in instalments as ships are built, over contracts that run for years, so revenue follows a large order book rather than yearly demand; commercial ships are mostly priced in dollars while costs are in yuan. Naval ships are built on order for the state. The state-owned parent, China State Shipbuilding Corp, was formed in 2019 by merging the two big state shipbuilders.
In one line: China's Huntington Ingalls/Hyundai Heavy Industries for shipbuilding.
Moat: narrow (scale, installed base). Part of state-owned China State Shipbuilding Corp, the world's largest shipbuilding group by order book.
Headquarters: Shanghai, China · Founded: 1999 · Employees: 41,839
Size China CSSC (600150.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $39.7B, the 44th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥35.17 on 6 Nov 2026.
Performance Over six months the shares fell 15.8%, against -7.1% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 80.2% over the last twelve months (peer median +10.9%); the operating margin is 8.0% (peer median 13.2%).
Valuation It trades at 13.3× forward earnings against a peer median of 15.1× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is -30 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 19.2 points above its cost of capital (6.3% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥176B | CN¥152B | CN¥133B | CN¥74.8B | CN¥59.3B |
| Revenue growth | — | +14% | +78% | +26% | — |
| Gross profit | CN¥31.9B | CN¥17.9B | CN¥12.8B | CN¥6.90B | CN¥4.07B |
| EBITDA | n/a | CN¥10.1B | CN¥4.66B | CN¥3.01B | -CN¥1.73B |
| Net income | CN¥15.4B | CN¥7.85B | CN¥4.22B | CN¥2.96B | CN¥172M |
| Free cash flow | CN¥21.4B | CN¥4.94B | CN¥8.29B | CN¥16.0B | -CN¥986M |
| Capital expenditure | CN¥4.71B | CN¥3.45B | CN¥6.98B | CN¥2.42B | CN¥1.44B |
| Total debt | CN¥34.6B | CN¥46.5B | CN¥54.2B | CN¥28.7B | CN¥30.7B |
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 |
|---|---|---|---|---|---|---|
| China CSSC 600150.SS | $39.7B | -16% | +80% | 8% | 13.3× | -7.8% |
| Hd Hyundai Heavy Industries 329180.KS | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% |
| SamsungHvyInd 010140.KS | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% |
| Hanwha Ocean 042660.KS | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% |
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 | 600150.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.7% | -5.3% | 7th lowest of 21 |
| 6-month return | -15.8% | -7.1% | 7th lowest of 21 |
| Distance from 52-week high | -19.0% | -21.2% | 6th highest of 21 |
| Revenue growth (TTM) | +80.2% | +10.9% | highest of 21 |
| Operating margin | 8.0% | 13.2% | 4th lowest of 21 |
| Forward P/E | 13.3× | 15.1× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -7.8% | 7.3% | 3rd least demanding of 19 |
| Growth delivered (Del g) | +22.4% | +8.6% | highest of 19 |
| Hurdle (Req g minus delivered) | -30.2 pp | -1.6 pp | least demanding of 19 |
| ROIC minus cost of capital | +19.2 pp | +4.0 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China CSSC 600150.SS | China | $39.7B | -16% | +80% | 8% | 13.3× | -7.8% | +22.4% |
| Sandvik SAND.ST | Sweden | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% | +6.9% |
| Wabtec WAB | United States | $47.6B | +7% | +13% | 18% | 23.8× | 17.0% | +8.1% |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| Paccar PCAR | United States | $53.7B | -11% | -1% | 11% | 15.4× | 11.2% | +8.7% |
| Epiroc EPI-A.ST | Sweden | $28.6B | -10% | +1% | 19% | 29.3× | 16.5% | +11.4% |
| CRRC 601766.SS | China | $27.0B | +10% | +2% | 6% | 13.0× | -6.4% | +3.8% |
| Sany Heavy Industry 600031.SS | China | $24.6B | -4% | +18% | 11% | 17.4× | -2.6% | -2.2% |
| Volvo VOLV-A.ST | Sweden | $65.2B | -1% | -3% | 12% | 14.7× | 5.4% | +7.2% |
| Doosan Enerbility 034020.KS | South Korea | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% | +13.2% |
| Hd Hyundai Heavy Industries 329180.KS | South Korea | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% | +16.2% |
| Kubota 6326.T | Japan | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% | +10.3% |
| Wartsila Oyj Abp WRT1V.HE | Finland | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% | +8.5% |
| Metso METSO.HE | Finland | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% | +9.6% |
| CNH Industrial CNH | United States | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% | -7.0% |
| Yangzijiang Shipbuilding (Holdings) BS6.SI | Singapore | $13.5B | +11% | +26% | 32% | 8.2× | -10.1% | +11.8% |
| XCMG Construction Machinery 000425.SZ | China | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% | +6.4% |
| Hdksoe 009540.KS | South Korea | $12.5B | -48% | +23% | 23% | 4.4× | n/a | n/a |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |