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Maker of heavy metallurgical, mining-hoist and port-crane equipment; also wind-turbine components.
Maker of heavy metallurgical, mining-hoist and port-crane equipment; also wind-turbine components.
Builds to order, so sales come in large, one-off lumps that follow orders from steel, mining and wind-power customers, and a delay on one big machine can shift a quarter's results. Its forging capacity also makes wind-turbine castings and forged parts.
Moat: narrow (scale, installed base). Large forging/casting capacity built up as a state heavy-industry base gives big single-unit order share.
Headquarters: Taiyuan, Shanxi, China · Employees: 5,708
Size Taiyuan Heavy Industry (600169.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.10B, the 2109th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.21 on 6 Nov 2026.
Performance Over six months the shares fell 7.5%, against -19.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 10.2% over the last twelve months (peer median +9.5%); the operating margin is 6.1% (peer median 9.3%).
Valuation It trades at 1.9× enterprise value to sales against a peer median of 2.3× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.9B | CN¥10.3B | CN¥9.80B | CN¥8.35B | CN¥7.99B |
| Revenue growth | — | +5% | +17% | +5% | — |
| Gross profit | CN¥2.52B | CN¥1.77B | CN¥1.68B | CN¥1.59B | CN¥1.50B |
| EBITDA | n/a | CN¥1.38B | CN¥1.24B | CN¥901M | CN¥1.09B |
| Net income | CN¥263M | CN¥237M | CN¥214M | CN¥187M | CN¥216M |
| Free cash flow | CN¥3.66B | CN¥1.30B | -CN¥978M | -CN¥959M | -CN¥270M |
| Capital expenditure | CN¥464M | CN¥761M | CN¥1.32B | CN¥1.30B | CN¥390M |
| Total debt | CN¥14.3B | CN¥17.3B | CN¥17.9B | CN¥19.0B | CN¥17.9B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Taiyuan Heavy Industry 600169.SS | $1.10B | -8% | +10% | 6% | 1.9× | -3.8% |
| CITIC Heavy Industries 601608.SS | $3.15B | -24% | +5% | 4% | 2.5× | 14.5% |
| Shanghai Zhenhua Heavy Industries 600320.SS | $2.64B | -21% | +6% | 5% | 1.1× | -4.9% |
| FLSmidth & Co. A/S FLS.CO | $4.88B | +22% | -20% | 13% | 2.4× | 2.8% |
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 | 600169.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | -4.0% | 8th highest of 21 |
| 6-month return | -7.5% | -19.8% | 6th highest of 21 |
| Distance from 52-week high | -24.8% | -35.0% | 6th highest of 21 |
| Revenue growth (TTM) | +10.2% | +9.5% | 9th highest of 21 |
| Operating margin | 6.1% | 9.3% | 9th lowest of 21 |
| EV / Sales | 1.9× | 2.3× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -3.8% | 11.8% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +3.7% | +8.9% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | -7.4 pp | +3.7 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | -0.4 pp | -3.8 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Taiyuan Heavy Industry 600169.SS | China | $1.10B | -8% | +10% | 6% | 1.9× | -3.8% | +3.7% |
| Yamabiko 6250.T | Japan | $1.11B | +8% | +10% | 13% | 0.9× | -2.2% | +5.7% |
| Vossloh Aktiengesellschaft VOS.DE | Germany | $1.08B | -31% | +21% | 5% | 1.3× | 12.9% | +9.1% |
| Lindsay LNN | United States | $1.08B | -3% | -6% | 11% | 1.6× | 6.0% | +2.3% |
| Willing New Energy 002667.SZ | China | $1.08B | -20% | +49% | -44% | 16.3× | n/a | n/a |
| OMH SCIENCE 300486.SZ | China | $1.17B | -30% | +35% | 2% | 6.2× | 47.7% | -0.3% |
| Chengdu Leejun Industrial 002651.SZ | China | $1.17B | -20% | +7% | -6% | 8.0× | 15.0% | -2.3% |
| Chengdu Yunda Technology 300440.SZ | China | $1.17B | -1% | +9% | 6% | 6.9× | 42.0% | +8.7% |
| Newag NWG.WA | Poland | $1.04B | -16% | +45% | 21% | 1.5× | -4.3% | +12.6% |
| TADANO 6395.T | Japan | $1.02B | -8% | +21% | 9% | 0.6× | n/a | n/a |
| Xinjiang Machinery Research Institute 300159.SZ | China | $1.21B | -28% | +28% | -40% | 8.4× | n/a | n/a |
| Asian Star Anchor Chain 601890.SS | China | $1.22B | -23% | +2% | 13% | 3.4× | 10.7% | +13.5% |
| Austal ASB.AX | Australia | $1.23B | 0% | +11% | -7% | 0.9× | n/a | n/a |
| Sunward Intelligent Equipment 002097.SZ | China | $985M | -38% | +10% | 1% | 2.1× | n/a | n/a |
| Titagarh Rail Systems TITAGARH.NS | India | $967M | -20% | -10% | 10% | 2.8× | 45.4% | +15.9% |
| DAEHAN SHIPBUILDING 439260.KS | South Korea | $955M | -62% | +14% | 26% | 0.5× | n/a | n/a |
| KTK 603680.SS | China | $1.28B | -24% | -16% | 17% | 1.9× | -6.0% | +2.3% |
| Greenbrier Companies GBX | United States | $1.29B | -18% | -24% | 4% | 1.3× | n/a | n/a |
| Alimak ALIG.ST | Sweden | $1.31B | +13% | -2% | 15% | 2.4× | 8.5% | +12.9% |
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 8.6× | 34.1% | +17.6% |
| Jupiter Wagons JWL.NS | India | $896M | -35% | -12% | 10% | 2.7× | n/a | n/a |