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Maker of railway track-laying and maintenance machinery, tied to China's state railway construction group.
Maker of railway track-laying and maintenance machinery, tied to China's state railway construction group.
Moat: narrow (customer qualification). Qualified supplier to China's state railway system for specialized track equipment.
Headquarters: China · Employees: 11,537
Size China Railway Hi-tech Industry (600528.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $2.37B, the 1081st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.11 on 6 Nov 2026.
Performance Over six months the shares fell 8.7%, against -13.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 8.3% over the last twelve months (peer median +13.4%); the operating margin is 4.6% (peer median 7.0%).
Valuation It trades at 0.7× enterprise value to sales against a peer median of 0.9× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.5 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥26.1B | CN¥27.6B | CN¥28.9B | CN¥30.0B | CN¥28.8B |
| Revenue growth | — | -5% | -4% | +4% | — |
| Gross profit | CN¥5.32B | CN¥4.89B | CN¥5.24B | CN¥5.46B | CN¥4.98B |
| EBITDA | n/a | CN¥2.25B | CN¥2.48B | CN¥2.37B | CN¥2.46B |
| Net income | CN¥1.26B | CN¥1.30B | CN¥1.77B | CN¥1.74B | CN¥1.88B |
| Free cash flow | CN¥296M | CN¥277M | CN¥117M | -CN¥484M | CN¥495M |
| Capital expenditure | CN¥1.09B | CN¥881M | CN¥589M | CN¥1.19B | CN¥834M |
| Total debt | CN¥6.66B | CN¥6.56B | CN¥6.75B | CN¥6.47B | CN¥7.66B |
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 |
|---|---|---|---|---|---|---|
| China Railway Hi-tech Industry 600528.SS | $2.37B | -9% | -8% | 5% | 0.7× | -4.0% |
| China Railway Construction Heavy Industry 688425.SS | $3.29B | -13% | -1% | 12% | 2.4× | 1.9% |
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 | 600528.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.0% | +1.3% | 5th highest of 21 |
| 6-month return | -8.7% | -13.2% | 8th highest of 21 |
| Distance from 52-week high | -25.9% | -33.1% | 8th highest of 21 |
| Revenue growth (TTM) | -8.3% | +13.4% | lowest of 21 |
| Operating margin | 4.6% | 7.0% | 6th lowest of 21 |
| EV / Sales | 0.7× | 0.9× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -4.0% | -2.6% | 7th least demanding of 15 |
| Growth delivered (Del g) | +2.6% | +9.2% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | -6.7 pp | -10.0 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -0.5 pp | +1.0 pp | 8th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | 0.7× | -4.0% | +2.6% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 4.6× | n/a | n/a |
| Trinity Industries TRN | United States | $2.30B | -20% | -2% | 13% | 3.5× | n/a | n/a |
| ZHEJIANG ZHONGJIAN TECHNOLOGY 002779.SZ | China | $2.26B | +2% | +28% | -17% | 12.2× | n/a | n/a |
| Takeuchi Mfg.Co 6432.T | Japan | $2.21B | +4% | +12% | 16% | 1.3× | 4.0% | +14.9% |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 0.8× | -3.5% | +5.0% |
| Sumec 600710.SS | China | $2.18B | -9% | +14% | 4% | 0.2× | -17.2% | +3.6% |
| Garden Reach Shipbuilders & Engineers GRSE.NS | India | $2.60B | -31% | +40% | 10% | 3.3× | n/a | n/a |
| CIMC Vehicles (Group) 301039.SZ | China | $2.07B | -18% | +6% | 4% | 0.4× | -4.3% | -5.2% |
| NFI NFI.TO | Canada | $2.06B | +13% | +15% | 2% | 0.8× | 12.0% | +9.3% |
| Anhui Heli 600761.SS | China | $2.06B | -14% | +13% | 7% | 0.6× | -6.7% | +9.2% |
| Shantui Construction Machinery 000680.SZ | China | $2.06B | -22% | +14% | 10% | 1.1× | -4.4% | +15.6% |
| Hd Ce 267270.KS | South Korea | $2.80B | -56% | +115% | 8% | 0.5× | -9.6% | +9.6% |
| Sany Heavy Equipment International 0631.HK | Hong Kong | $2.82B | -46% | +19% | 6% | 0.8× | 1.4% | +26.1% |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 1.0× | 16.0% | -11.3% |
| First Tractor 601038.SS | China | $1.95B | +2% | +12% | 6% | 1.2× | -1.6% | +7.5% |
| Craftsman Automation CRAFTSMAN.NS | India | $2.90B | +21% | +36% | 10% | 3.2× | n/a | n/a |
| Construcciones y Auxiliar de Ferrocarriles CAF.MC | Spain | $2.92B | +21% | +12% | 6% | 0.6× | 1.0% | +10.2% |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | 38.1× | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 0.8× | 3.6% | +1.9% |
| Modec 6269.T | Japan | $3.03B | -46% | +17% | 9% | 0.3× | -21.3% | +18.6% |