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Employees: 1,785
Size Hanma Technology (600375.SS) is a China Consumer Discretionary company (Motor Vehicles) with a market value of $786M, the 2812th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.27 on 6 Nov 2026.
Performance Over six months the shares fell 39.1%, against -3.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 38.2% over the last twelve months (peer median +6.6%); the operating margin is 0.2% (peer median 2.8%).
Valuation It trades at 0.7× enterprise value to sales against a peer median of 1.0× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.2 points below its cost of capital (7.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.72B | CN¥6.54B | CN¥4.22B | CN¥3.87B | CN¥3.42B |
| Revenue growth | — | +55% | +9% | +13% | — |
| Gross profit | CN¥661M | CN¥465M | CN¥18.0M | -CN¥106M | -CN¥303M |
| EBITDA | n/a | CN¥333M | -CN¥529M | -CN¥457M | -CN¥969M |
| Net income | CN¥8.27M | CN¥47.6M | CN¥157M | -CN¥963M | -CN¥1.49B |
| Free cash flow | CN¥685M | CN¥190M | -CN¥1.07B | -CN¥386M | -CN¥615M |
| Capital expenditure | CN¥15.4M | CN¥23.6M | CN¥22.8M | CN¥271M | CN¥18.1M |
| Total debt | CN¥690M | CN¥2.78B | CN¥2.20B | CN¥5.75B | CN¥7.05B |
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.
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 | 600375.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.4% | -3.3% | 6th lowest of 20 |
| 6-month return | -39.1% | -3.5% | 4th lowest of 20 |
| Distance from 52-week high | -59.0% | -34.8% | 4th lowest of 20 |
| Revenue growth (TTM) | +38.2% | +6.6% | 4th highest of 19 |
| Operating margin | 0.2% | 2.8% | 8th lowest of 19 |
| EV / Sales | 0.7× | 1.0× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 11.1% | 3.4% | 4th most demanding of 10 |
| Growth delivered (Del g) | +0.5% | +4.0% | 3rd lowest of 9 |
| Hurdle (Req g minus delivered) | +10.6 pp | -1.0 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | -4.2 pp | -2.7 pp | 8th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hanma Technology 600375.SS | China | $786M | -39% | +38% | 0% | 0.7× | 11.1% | +0.5% |
| IAT Automobile Technology 300825.SZ | China | $786M | +9% | +7% | -8% | 4.7× | n/a | n/a |
| Haima Automobile 000572.SZ | China | $792M | -43% | -48% | -27% | 6.2× | n/a | n/a |
| Polestar Automotive Holding UK PLC Sponsored ADR PSNY | United States | $778M | -79% | +18% | -47% | 2.0× | n/a | n/a |
| Kuen Tong Technology 7965.TWO | Taiwan | $796M | n/a | n/a | n/a | n/a | n/a | n/a |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | 2.5× | 23.6% | +36.9% |
| Dometic DOM.ST | Sweden | $755M | -29% | -6% | -13% | 0.9× | 3.4% | +5.4% |
| Nissan Shatai 7222.T | Japan | $747M | -4% | +15% | 4% | 0.1× | n/a | n/a |
| Luyuan Group Holding (Cayman) 2451.HK | Hong Kong | $722M | +24% | -3% | 1% | 1.0× | n/a | n/a |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 0.5× | -16.1% | +10.7% |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 3.9× | 14.9% | -2.6% |
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 0.8× | 2.6% | +2.7% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 0.7× | 11.9% | n/a |
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 0.9× | 3.7% | +0.8% |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | 4.3× | n/a | n/a |
| Voyah Automotive Technology 7489.HK | Hong Kong | $704M | -75% | n/a | n/a | n/a | n/a | n/a |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 3.3× | n/a | n/a |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 0.8× | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 0.7× | 2.1% | -23.6% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | 9.1× | n/a | n/a |
| Morita 6455.T | Japan | $660M | -6% | 0% | 12% | 0.7× | -13.0% | +6.6% |