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Chinese maker of absorption chillers and industrial cooling systems, now also expanding into polysilicon and solar-wafer production.
Chinese maker of absorption chillers and industrial cooling systems, now also expanding into polysilicon and solar-wafer production.
Wafers sold to solar-cell makers now carry more revenue than the older chiller business, so results swing with solar-industry capacity and pricing. The chillers, which use heat rather than electricity to cool buildings and plants, are sold as equipment on project contracts.
Moat: narrow (process know-how, installed base). Established absorption-chiller engineering base, though solar diversification carries execution and cyclicality risk.
Headquarters: Jiangyin, China · Founded: 1982 · Employees: 4,327
Size Shuangliang Eco-Energy Systems (600481.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.21B, the 1959th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.92 on 6 Nov 2026.
Performance Over six months the shares fell 35.5%, against -24.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 29.1% over the last twelve months (peer median +5.2%); the operating margin is -28.7% (peer median 3.2%).
Valuation It trades at 2.6× enterprise value to sales against a peer median of 4.0× (8th cheapest of 21).
Capital Return on invested capital runs 11.9 points below its cost of capital (6.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.22B | CN¥7.55B | CN¥13.0B | CN¥23.1B | CN¥14.4B |
| Revenue growth | — | -42% | -44% | +60% | — |
| Gross profit | CN¥308M | CN¥210M | -CN¥406M | CN¥3.30B | CN¥2.31B |
| EBITDA | n/a | CN¥324M | -CN¥1.09B | CN¥2.73B | CN¥1.61B |
| Net income | -CN¥1.77B | -CN¥1.12B | -CN¥2.13B | CN¥1.50B | CN¥956M |
| Free cash flow | -CN¥4.94B | -CN¥4.19B | -CN¥5.05B | -CN¥2.25B | -CN¥4.09B |
| Capital expenditure | CN¥768M | CN¥584M | CN¥256M | CN¥3.59B | CN¥677M |
| Total debt | CN¥10.1B | CN¥14.6B | CN¥16.7B | CN¥16.9B | CN¥8.28B |
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 |
|---|---|---|---|---|---|---|
| Shuangliang Eco-Energy Systems 600481.SS | $1.21B | -36% | -29% | -29% | 2.6× | n/a |
| Hongyuan Green Energy 603185.SS | $1.46B | -34% | +14% | -15% | 1.3× | 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 | 600481.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.3% | -15.8% | 7th highest of 21 |
| 6-month return | -35.5% | -24.2% | 7th lowest of 21 |
| Distance from 52-week high | -66.1% | -46.0% | 4th lowest of 21 |
| Revenue growth (TTM) | -29.1% | +5.2% | lowest of 21 |
| Operating margin | -28.7% | 3.2% | 2nd lowest of 21 |
| EV / Sales | 2.6× | 4.0× | 8th cheapest of 21 |
| ROIC minus cost of capital | -11.9 pp | -5.0 pp | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shuangliang Eco-Energy Systems 600481.SS | China | $1.21B | -36% | -29% | -29% | 2.6× | n/a | n/a |
| Eugene Technology 084370.KS | South Korea | $1.21B | -43% | +2% | 15% | 3.5× | 16.3% | +11.6% |
| Union Tool 6278.T | Japan | $1.20B | -41% | +40% | 25% | 2.9× | 22.0% | +12.0% |
| Tennant TNC | United States | $1.22B | -18% | 0% | 4% | 1.2× | n/a | n/a |
| Ariston ARIS.MI | Italy | $1.20B | -17% | +5% | 6% | 0.6× | 0.1% | +10.5% |
| Hefei Metalforming Intelligent Manufacturing 603011.SS | China | $1.22B | -18% | -15% | -11% | 4.3× | n/a | n/a |
| SVG 300331.SZ | China | $1.19B | -42% | +6% | 2% | 4.1× | 46.0% | +8.1% |
| Guangdong Anda Automation Solutions 688125.SS | China | $1.19B | -55% | +56% | 2% | 7.0× | n/a | n/a |
| Seikoh Giken 6834.T | Japan | $1.23B | +17% | +55% | 28% | 5.3× | 24.6% | +15.2% |
| EFORT Intelligent Robot 688165.SS | China | $1.18B | -18% | +12% | -48% | 6.9× | n/a | n/a |
| Shenzhen iN-Cube Automation 301312.SZ | China | $1.18B | -43% | +18% | 6% | 9.5× | n/a | n/a |
| HUYNDAI MOVEX 319400.KS | South Korea | $1.24B | -51% | +2% | 3% | 4.4× | n/a | n/a |
| Aotecar New Energy Technology 002239.SZ | China | $1.25B | -17% | -7% | 3% | 1.2× | 11.9% | +17.1% |
| Suzhou Gyz Electronic Technology 688260.SS | China | $1.17B | +96% | +56% | -13% | 10.1× | n/a | n/a |
| Guangdong Lyric Robot Automation 688499.SS | China | $1.17B | -15% | +37% | 1% | 2.5× | n/a | n/a |
| Durr DUE.DE | Germany | $1.25B | -24% | +2% | 4% | 0.3× | -3.3% | +4.6% |
| Jiangsu Bide Science & Technology 605298.SS | China | $1.16B | -30% | -4% | 15% | 13.8× | 40.4% | +10.1% |
| Shanghai Step Electric 002527.SZ | China | $1.16B | -21% | 0% | -2% | 2.3× | n/a | n/a |
| Shenzhen Xinyichang Technology 688383.SS | China | $1.16B | -25% | +34% | -9% | 8.6× | n/a | n/a |
| KSB KSB.NS | India | $1.16B | -30% | +8% | 10% | 3.8× | 35.3% | +17.5% |
| YAPP Automotive Systems 603013.SS | China | $1.16B | -25% | -1% | 7% | 0.8× | -9.1% | +0.7% |