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Chinese auto-parts maker producing chassis and fluid-pipe systems through a joint venture with Germany's Benteler.
Chinese auto-parts maker producing chassis and fluid-pipe systems through a joint venture with Germany's Benteler.
Paid per part delivered under programmes tied to specific vehicle models, so its volumes follow those models' production runs. The joint venture with Benteler gives it access to chassis designs it did not develop itself.
Moat: narrow (customer qualification, IP / patents). Benteler joint venture brings qualified global chassis-engineering technology and OEM programs.
Headquarters: Handan, Hebei, China · Employees: 11,595
Size Lingyun Industrial (600480.SS) is a China Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.41B, the 1724th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.63 on 6 Nov 2026.
Performance Over six months the shares fell 24.5%, against -22.7% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 3.2% over the last twelve months (peer median +12.3%); the operating margin is 4.8% (peer median 8.3%).
Valuation It trades at 17.1× forward earnings against a peer median of 12.2× (7th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.9 points above its cost of capital (5.7% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥20.2B | CN¥19.8B | CN¥18.8B | CN¥18.6B | CN¥16.6B |
| Revenue growth | — | +6% | +1% | +12% | — |
| Gross profit | CN¥4.09B | CN¥3.12B | CN¥3.10B | CN¥2.89B | CN¥2.33B |
| EBITDA | n/a | CN¥2.21B | CN¥2.39B | CN¥1.98B | CN¥1.68B |
| Net income | CN¥621M | CN¥835M | CN¥655M | CN¥632M | CN¥341M |
| Free cash flow | CN¥1.71B | CN¥1.06B | CN¥1.68B | CN¥604M | CN¥779M |
| Capital expenditure | CN¥464M | CN¥585M | CN¥617M | CN¥782M | CN¥669M |
| Total debt | CN¥3.68B | CN¥3.67B | CN¥3.60B | CN¥4.55B | CN¥4.62B |
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 |
|---|---|---|---|---|---|---|
| Lingyun Industrial 600480.SS | $1.41B | -25% | +3% | 5% | 17.1× | -12.3% |
| Zhejiang Shibao 002703.SZ | $1.29B | -20% | +16% | 4% | n/a | 41.6% |
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 | 600480.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.3% | -4.9% | 4th highest of 21 |
| 6-month return | -24.5% | -22.7% | 11th highest of 21 |
| Distance from 52-week high | -43.4% | -45.1% | 9th highest of 21 |
| Revenue growth (TTM) | +3.2% | +12.3% | 7th lowest of 21 |
| Operating margin | 4.8% | 8.3% | 9th lowest of 21 |
| Forward P/E | 17.1× | 12.2× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -12.3% | -5.9% | 6th least demanding of 14 |
| Growth delivered (Del g) | +8.0% | +10.1% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | -20.3 pp | -13.6 pp | 4th least demanding of 14 |
| ROIC minus cost of capital | +4.9 pp | +0.7 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lingyun Industrial 600480.SS | China | $1.41B | -25% | +3% | 5% | 17.1× | -12.3% | +8.0% |
| Nexteer Automotive 1316.HK | Hong Kong | $1.40B | -14% | +6% | 4% | 8.5× | -13.5% | +8.7% |
| SEDEMAC Mechatronics SEDEMAC.NS | India | $1.42B | +56% | +61% | 15% | 73.8× | n/a | n/a |
| CIE Automotive India CIEINDIA.NS | India | $1.42B | -26% | +12% | 11% | 12.2× | 8.6% | +9.2% |
| Zhuzhou Times New Materials Technology 600458.SS | China | $1.39B | -17% | +1% | 2% | 14.7× | n/a | n/a |
| Dn Automotive 007340.KS | South Korea | $1.46B | -20% | +17% | 15% | n/a | -16.2% | +35.6% |
| Tong Yang Industry 1319.TW | Taiwan | $1.35B | -1% | -12% | 15% | 10.9× | -5.9% | +7.7% |
| Jiangsu Bojun Industrial Technology 300926.SZ | China | $1.35B | -31% | +54% | 13% | 9.0× | n/a | n/a |
| Kunshan Huguang Auto Harness 605333.SS | China | $1.32B | -16% | -2% | 2% | 31.8× | n/a | n/a |
| OPmobility OPM.PA | France | $1.51B | -42% | -3% | 4% | 8.2× | -8.1% | +7.6% |
| Zhejiang Shibao 1057.HK | Hong Kong | $1.32B | -33% | +22% | 4% | n/a | 26.8% | +25.6% |
| Wuxi Best Precision Machinery 300580.SZ | China | $1.32B | -40% | +12% | 16% | 29.4× | 20.8% | +10.1% |
| Zhejiang Fenglong Electric 002931.SZ | China | $1.30B | -31% | +2% | 0% | n/a | n/a | n/a |
| Slcorp 005850.KS | South Korea | $1.54B | -25% | +10% | 8% | 5.7× | -19.7% | +15.9% |
| Longhorn Auto 301488.SZ | China | $1.29B | -32% | +34% | 2% | 82.0× | n/a | n/a |
| ASK Automotive ASKAUTOLTD.NS | India | $1.28B | +35% | +39% | 9% | 34.3× | n/a | n/a |
| Gentherm THRM | United States | $1.55B | -7% | +9% | 5% | 9.8× | 21.7% | +10.4% |
| Varroc Engineering VARROC.NS | India | $1.28B | +40% | +22% | 6% | 31.5× | 29.9% | +15.1% |
| Johnson Electric 0179.HK | Hong Kong | $1.56B | -53% | 0% | 8% | 10.8× | -16.4% | +3.1% |
| Jiangsu Yunyi Electric 300304.SZ | China | $1.27B | -19% | +14% | 17% | 16.9× | 17.1% | +23.4% |
| Hong Leong Asia H22.SI | Singapore | $1.26B | -40% | +17% | 9% | 9.5× | -12.9% | +2.9% |