Employees: 8,263
Size Changjiang & Jinggong Steel Building (Group) (600496.SS) is a China Industrials company (Metal Fabrication) with a market value of $931M, the 2442nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.12 on 6 Nov 2026.
Performance Over six months the shares fell 24.8%, against -22.5% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +12.5%); the operating margin is 2.6% (peer median 4.8%).
Valuation It trades at 9.7× forward earnings against a peer median of 31.4× (3rd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (5.0% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.2B | CN¥20.8B | CN¥18.5B | CN¥16.5B | CN¥15.7B |
| Revenue growth | — | +13% | +12% | +5% | — |
| Gross profit | CN¥2.41B | CN¥2.16B | CN¥2.25B | CN¥2.06B | CN¥2.12B |
| EBITDA | n/a | CN¥846M | CN¥830M | CN¥756M | CN¥865M |
| Net income | CN¥492M | CN¥605M | CN¥512M | CN¥548M | CN¥699M |
| Free cash flow | CN¥206M | CN¥673M | CN¥686M | CN¥251M | -CN¥681M |
| Capital expenditure | -CN¥370M | CN¥172M | CN¥118M | CN¥254M | CN¥556M |
| Total debt | CN¥9.92B | CN¥8.39B | CN¥7.50B | CN¥7.16B | CN¥6.74B |
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| Measure | 600496.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.9% | -8.2% | 10th highest of 21 |
| 6-month return | -24.8% | -22.5% | 10th lowest of 21 |
| Distance from 52-week high | -34.9% | -48.3% | 7th highest of 21 |
| Revenue growth (TTM) | +1.1% | +12.5% | 4th lowest of 21 |
| Operating margin | 2.6% | 4.8% | 6th lowest of 21 |
| Forward P/E | 9.7× | 31.4× | 3rd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -1.5% | 21.4% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +12.7% | +11.1% | 3rd highest of 8 |
| Hurdle (Req g minus delivered) | -14.2 pp | +5.4 pp | 2nd least demanding of 8 |
| ROIC minus cost of capital | -0.7 pp | -2.3 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Changjiang & Jinggong Steel Building (Group) 600496.SS | China | $931M | -25% | +1% | 3% | 9.7× | -1.5% | +12.7% |
| Zhejiang JW Precision Machinery 300984.SZ | China | $931M | -29% | +9% | 4% | 78.7× | n/a | n/a |
| Lucky Harvest 002965.SZ | China | $923M | -21% | +18% | 0% | 59.4× | n/a | n/a |
| Evergreen Steel 2211.TW | Taiwan | $943M | -24% | +9% | 21% | 9.5× | -9.2% | +10.4% |
| Troax TROAX.ST | Sweden | $908M | +46% | 0% | 8% | 39.4× | 28.3% | +11.1% |
| Ningbo Sunrise Elc Technology 002937.SZ | China | $908M | -42% | +12% | 8% | 26.2× | 21.4% | +11.2% |
| Ningxia Guoyun New Energy 000595.SZ | China | $903M | -16% | +142% | 21% | n/a | n/a | n/a |
| Hsino Tower 601096.SS | China | $961M | -31% | -7% | 3% | 22.4× | n/a | n/a |
| Hunan Corun New Energy 600478.SS | China | $901M | -53% | +46% | 4% | n/a | n/a | n/a |
| Gibraltar Industries ROCK | United States | $964M | -20% | +14% | 11% | 7.9× | 7.3% | +1.9% |
| Guangzhou Newlife New Material 301323.SZ | China | $896M | -15% | +26% | 13% | 31.4× | n/a | n/a |
| Shandong Golden Empire Precision Machinery Technology 603270.SS | China | $886M | -4% | +35% | 5% | 30.0× | n/a | n/a |
| Juli Sling 002342.SZ | China | $989M | -66% | +19% | 3% | n/a | n/a | n/a |
| Jiangsu LiXing General Steel Ball 300421.SZ | China | $866M | -30% | +4% | 4% | n/a | 35.0% | +7.1% |
| Chongqing Millison Technologies 301307.SZ | China | $851M | -18% | +13% | -11% | 54.7× | n/a | n/a |
| China Harzone Industry 300527.SZ | China | $1.03B | -18% | -12% | 1% | n/a | n/a | n/a |
| Zhejiang Huayuan Auto Technology 301535.SZ | China | $836M | -30% | +66% | 12% | n/a | 22.2% | +17.2% |
| Sanwei 603033.SS | China | $1.04B | -40% | +10% | -6% | n/a | 13.7% | +21.1% |
| Kennametal India KENNAMET.NS | India | $832M | +27% | +29% | 17% | 37.5× | n/a | n/a |
| Jiangsu NanFang Precision 002553.SZ | China | $813M | -29% | +5% | 13% | n/a | n/a | n/a |
| HuiZhou Intelligence Technology 002122.SZ | China | $802M | -10% | +10% | -16% | n/a | n/a | n/a |