Loading…
World's largest maker of ship-to-shore and container port cranes, also builds offshore engineering and heavy steel structures.
World's largest maker of ship-to-shore and container port cranes, also builds offshore engineering and heavy steel structures.
Builds each crane to order for port and terminal operators and books revenue as work progresses, so results follow orders placed well in advance by ports expanding or automating. Heavy steel structures, including for offshore wind and bridges, give it a second market. China Communications Construction Company, a state-owned group, controls it.
Moat: wide (scale, installed base, cost advantage). Dominates global port crane supply through massive scale and an unmatched installed base.
Headquarters: Shanghai, China · Founded: 1992 · Employees: 7,935
Size Shanghai Zhenhua Heavy Industries (600320.SS) is a China Industrials company (Industrial Machinery) with a market value of $2.64B, the 984th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.29 on 6 Nov 2026.
Performance Over six months the shares fell 20.9%, against -22.9% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +19.4%); the operating margin is 4.7% (peer median 8.4%).
Valuation It trades at 20.4× forward earnings against a peer median of 24.2× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥37.3B | CN¥36.0B | CN¥34.2B | CN¥32.8B | CN¥30.1B |
| Revenue growth | — | +5% | +4% | +9% | — |
| Gross profit | CN¥7.06B | CN¥4.55B | CN¥3.98B | CN¥4.04B | CN¥3.73B |
| EBITDA | n/a | CN¥2.73B | CN¥2.40B | CN¥2.45B | CN¥2.58B |
| Net income | CN¥977M | CN¥732M | CN¥534M | CN¥520M | CN¥372M |
| Free cash flow | CN¥5.53B | CN¥5.42B | CN¥4.56B | CN¥4.79B | CN¥2.45B |
| Capital expenditure | CN¥1.13B | CN¥1.05B | CN¥1.06B | CN¥747M | CN¥489M |
| Total debt | CN¥25.0B | CN¥27.2B | CN¥33.1B | CN¥35.9B | CN¥36.9B |
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 | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shanghai Zhenhua Heavy Industries 600320.SS | $2.64B | -21% | +6% | 5% | 20.4× | -4.9% |
| Konecranes KCR.HE | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% |
| Kalmar KALMAR.HE | $2.27B | -7% | +7% | 12% | 13.6× | -4.8% |
| Sany Heavy Industry 600031.SS | $24.6B | -4% | +18% | 11% | 17.4× | -2.6% |
| Offshore Oil Engineering 600583.SS | $4.22B | -6% | +7% | 8% | 12.1× | 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 | 600320.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | -13.9% | 3rd highest of 21 |
| 6-month return | -20.9% | -22.9% | 9th highest of 21 |
| Distance from 52-week high | -24.1% | -45.9% | 3rd highest of 21 |
| Revenue growth (TTM) | +6.4% | +19.4% | 7th lowest of 21 |
| Operating margin | 4.7% | 8.4% | 4th lowest of 21 |
| Forward P/E | 20.4× | 24.2× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -4.9% | 17.8% | least demanding of 12 |
| Growth delivered (Del g) | +9.7% | +12.4% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -14.6 pp | +5.4 pp | least demanding of 12 |
| ROIC minus cost of capital | +0.4 pp | -0.4 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Zhenhua Heavy Industries 600320.SS | China | $2.64B | -21% | +6% | 5% | 20.4× | -4.9% | +9.7% |
| Dongguan Yiheda Automation 301029.SZ | China | $2.65B | -2% | +31% | 18% | 27.1× | 21.6% | +19.5% |
| Harmonic Drive Systems 6324.T | Japan | $2.60B | -18% | +12% | 7% | 62.4× | n/a | n/a |
| Jungheinrich AG Pref JUN3.DE | Germany | $2.58B | -12% | +2% | 5% | 10.3× | -0.4% | +7.6% |
| Guangzhou Haozhi Industrial 300503.SZ | China | $2.70B | -8% | +55% | 20% | n/a | n/a | n/a |
| CECO Environmental CECO | United States | $2.56B | -47% | +38% | 6% | 16.5× | n/a | n/a |
| China Baoan 000009.SZ | China | $2.56B | -23% | +26% | 7% | n/a | n/a | n/a |
| Beijing Jingyi Automation Equipment 688652.SS | China | $2.73B | -10% | +34% | 9% | 77.6× | 49.0% | +32.4% |
| Dmg Mori 6141.T | Japan | $2.53B | -13% | +20% | 4% | 23.5× | 12.9% | +9.4% |
| All Ring Tech 6187.TWO | Taiwan | $2.52B | -36% | +1% | 29% | 25.0× | 26.4% | +28.9% |
| Nabtesco 6268.T | Japan | $2.77B | -28% | -8% | 9% | 17.6× | 7.8% | +2.0% |
| Guangdong Dongfang Precision Science & Technology 002611.SZ | China | $2.50B | -19% | -16% | 8% | 20.2× | 17.8% | +12.4% |
| Fuji 6134.T | Japan | $2.85B | -23% | +45% | 20% | 9.9× | n/a | n/a |
| Timken India TIMKEN.NS | India | $2.43B | -12% | +19% | 16% | 46.1× | 36.2% | +19.8% |
| Japan Steel Works 5631.T | Japan | $2.41B | -46% | -1% | 10% | 17.0× | n/a | n/a |
| Doosan Robotics 454910.KS | South Korea | $2.41B | -54% | +97% | -91% | n/a | n/a | n/a |
| Munters MTRS.ST | Sweden | $2.40B | -34% | 0% | 9% | 26.2× | 12.4% | +16.0% |
| Wonik IPS 240810.KS | South Korea | $2.39B | -43% | +9% | 8% | 14.7× | 29.4% | -3.6% |
| Amber Enterprises India AMBER.NS | India | $2.39B | -28% | +15% | 5% | 59.6× | n/a | n/a |
| Yantai Eddie Precision Machinery 603638.SS | China | $2.38B | -22% | +35% | 16% | 28.8× | 15.1% | +7.3% |
| ROBOTIS 108490.KS | South Korea | $2.37B | -30% | +52% | -16% | n/a | n/a | n/a |