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AECC subsidiary manufacturing aero-engine components and providing maintenance/repair services for Chinese military and civil aircraft engines.
AECC subsidiary manufacturing aero-engine components and providing maintenance/repair services for Chinese military and civil aircraft engines.
In one line: A Chinese state aero-engine parts and MRO provider.
Moat: narrow (regulatory licence, customer qualification). State-controlled aero-engine supply chain licensing under AECC limits competition to approved domestic suppliers.
Headquarters: Chengdu, China · Employees: 3,803
Size AECC Aero Science And Technology (600391.SS) is a China Industrials company (Aerospace & Defense) with a market value of $2.13B, the 1190th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥43.11 on 6 Nov 2026.
Performance Over six months the shares gained 15.9%, against -15.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 19 in its peer set.
Growth Revenue fell 14.5% over the last twelve months (peer median +13.9%); the operating margin is 3.9% (peer median 0.2%).
Valuation It trades at 253.6× forward earnings against a peer median of 56.2× (most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +20 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 3.6 points below its cost of capital (9.7% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.69B | CN¥4.32B | CN¥3.84B | CN¥4.50B | CN¥3.79B |
| Revenue growth | — | +12% | -15% | +19% | — |
| Gross profit | CN¥800M | CN¥532M | CN¥566M | CN¥459M | CN¥448M |
| EBITDA | n/a | CN¥563M | CN¥557M | CN¥439M | CN¥429M |
| Net income | CN¥60.0M | CN¥60.9M | CN¥68.8M | CN¥48.2M | CN¥46.7M |
| Free cash flow | CN¥281M | CN¥826M | -CN¥1.32B | CN¥307M | CN¥280M |
| Capital expenditure | CN¥422M | CN¥419M | CN¥196M | CN¥202M | CN¥261M |
| Total debt | CN¥2.11B | CN¥2.25B | CN¥2.69B | CN¥2.39B | CN¥1.82B |
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 |
|---|---|---|---|---|---|---|
| AECC Aero Science And Technology 600391.SS | $2.13B | +16% | -15% | 4% | 253.6× | 29.7% |
| AECC Aero-engine Control 000738.SZ | $3.66B | -10% | -3% | 3% | 64.0× | n/a |
| Safran SAF.PA | $138B | +4% | +14% | 13% | 28.5× | 22.2% |
| Xi'an Triangle Defense 300775.SZ | $1.50B | -39% | -29% | 2% | 17.6× | 31.7% |
| MTU Aero Engines MTX.DE | $20.9B | +21% | +12% | 13% | 18.5× | 6.3% |
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 | 600391.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.5% | -4.3% | highest of 20 |
| 6-month return | +15.9% | -15.0% | 2nd highest of 19 |
| Distance from 52-week high | -26.1% | -39.4% | 5th highest of 21 |
| Revenue growth (TTM) | -14.5% | +13.9% | 5th lowest of 20 |
| Operating margin | 3.9% | 0.2% | 9th highest of 21 |
| Forward P/E | 253.6× | 56.2× | most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 29.7% | 22.8% | 4th most demanding of 11 |
| Growth delivered (Del g) | +9.7% | +9.0% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | +20.0 pp | +15.5 pp | 2nd most demanding of 11 |
| ROIC minus cost of capital | -3.6 pp | -6.6 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AECC Aero Science And Technology 600391.SS | China | $2.13B | +16% | -15% | 4% | 253.6× | 29.7% | +9.7% |
| Bodycote BOY.L | United Kingdom | $2.09B | +35% | +2% | 15% | 18.1× | 22.6% | +4.0% |
| Hunan Aerospace Huanyu Communication Technology 688523.SS | China | $2.19B | -45% | -30% | -8% | 100.3× | n/a | n/a |
| Ducommun DCO | United States | $2.04B | -1% | +9% | 10% | 27.6× | n/a | n/a |
| Sensofusion SENSO.HE | Finland | $1.97B | n/a | n/a | 64% | n/a | n/a | n/a |
| Ligeance Aerospace Technology 000697.SZ | China | $1.94B | -9% | +24% | -10% | n/a | n/a | n/a |
| Astronics ATRO | United States | $2.36B | -13% | +14% | 14% | 18.6× | 17.3% | +11.4% |
| Exail Technologies EXA.PA | France | $2.37B | +10% | +24% | -2% | 62.9× | 42.5% | +26.0% |
| Chemring CHG.L | United Kingdom | $1.92B | +13% | -4% | 13% | 27.0× | n/a | n/a |
| Intuitive Machines LUNR | United States | $2.40B | -64% | +117% | -20% | n/a | n/a | n/a |
| Cirrus Aircraft 2507.HK | Hong Kong | $1.85B | +5% | +14% | 13% | 10.6× | -1.4% | +18.3% |
| China Marine Information Electronics 600764.SS | China | $1.82B | -28% | +9% | -2% | 85.3× | n/a | n/a |
| Redwire RDW | United States | $1.80B | -35% | +63% | -41% | n/a | n/a | n/a |
| MTAR Technologies MTARTECH.NS | India | $1.77B | -18% | +108% | 20% | 64.7× | 48.5% | +29.2% |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 54.9× | n/a | n/a |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 97.4× | 17.1% | +6.8% |
| Montana Aerospace AERO.SW | Switzerland | $1.69B | -2% | -36% | 7% | 20.5× | 6.1% | +6.3% |
| Applied Aerospace & Defense AADX | United States | $1.67B | n/a | +35% | -10% | 23.4× | n/a | n/a |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |
| Avio AVIO.MI | Italy | $1.60B | -2% | +14% | 1% | 89.7× | 26.1% | +10.6% |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |