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Chinese company; specific current business not confidently known (name suggests a security/protection-related business).
Chinese company; specific current business not confidently known (name suggests a security/protection-related business).
Moat: none
Headquarters: China · Employees: 12,105
Size China Security (600654.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.39B, the 1753rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.72 on 6 Nov 2026.
Performance Over six months the shares fell 30.6%, against -6.0% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 29.9% over the last twelve months (peer median +7.9%); the operating margin is -0.6% (peer median 7.6%).
Valuation It trades at 3.7× enterprise value to sales against a peer median of 2.8× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 57% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +56 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 5.6 points below its cost of capital (7.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.37B | CN¥3.07B | CN¥3.05B | CN¥2.86B | CN¥2.54B |
| Revenue growth | — | +1% | +7% | +12% | — |
| Gross profit | CN¥437M | CN¥424M | CN¥442M | CN¥430M | CN¥236M |
| EBITDA | n/a | CN¥53.0M | CN¥16.1M | CN¥132M | -CN¥282M |
| Net income | -CN¥94.6M | CN¥53.0M | CN¥20.0M | CN¥90.1M | -CN¥336M |
| Free cash flow | CN¥103M | CN¥23.0M | CN¥40.0M | CN¥138M | -CN¥361M |
| Capital expenditure | CN¥28.0M | CN¥86.9M | CN¥54.4M | CN¥38.2M | CN¥19.3M |
| Total debt | CN¥228M | CN¥423M | CN¥452M | CN¥401M | CN¥623M |
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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 | 600654.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -6.4% | 9th lowest of 21 |
| 6-month return | -30.6% | -6.0% | 3rd lowest of 21 |
| Distance from 52-week high | -43.8% | -36.5% | 6th lowest of 21 |
| Revenue growth (TTM) | -29.9% | +7.9% | 2nd lowest of 21 |
| Operating margin | -0.6% | 7.6% | 4th lowest of 21 |
| EV / Sales | 3.7× | 2.8× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 56.7% | 4.0% | most demanding of 14 |
| Growth delivered (Del g) | +0.4% | +11.6% | lowest of 14 |
| Hurdle (Req g minus delivered) | +56.3 pp | -9.0 pp | most demanding of 14 |
| ROIC minus cost of capital | -5.6 pp | -3.3 pp | 7th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | 3.7× | 56.7% | +0.4% |
| Wintech Nano (Suzhou) 688757.SS | China | $1.39B | -18% | +23% | 7% | 16.4× | n/a | n/a |
| Concord Biotech CONCORDBIO.NS | India | $1.40B | +2% | +4% | 28% | 10.9× | 47.1% | +11.6% |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 0.6× | -8.2% | +13.8% |
| Siglent Technologies 688112.SS | China | $1.41B | -5% | +30% | 24% | 11.0× | 31.3% | +22.0% |
| China National Electric Apparatus Research Institute 688128.SS | China | $1.42B | -12% | +8% | 11% | 1.7× | 4.0% | +13.5% |
| Derichebourg DBG.PA | France | $1.42B | -24% | -3% | 5% | 0.6× | 6.8% | +6.3% |
| ICF International ICFI | United States | $1.43B | +14% | -8% | 8% | 1.0× | -2.2% | +4.4% |
| Changchun Up Optotech 002338.SZ | China | $1.34B | -39% | +22% | 2% | 11.0× | n/a | n/a |
| TKC 9746.T | Japan | $1.34B | +21% | +14% | 22% | 1.9× | -9.9% | +4.2% |
| Nittetsu Mining 1515.T | Japan | $1.34B | +10% | +13% | 9% | 1.1× | n/a | n/a |
| Central Mine Planning & Design Institute CMPDI.NS | India | $1.34B | -15% | +10% | 33% | 4.8× | 4.0% | +18.7% |
| Suzhou Novoprotein Scientific 688137.SS | China | $1.33B | +161% | +8% | -62% | 51.3× | n/a | n/a |
| Suzhou Recodeal Interconnect System 688800.SS | China | $1.47B | -55% | +5% | 9% | 3.0× | 26.1% | +38.9% |
| Shanghai Medicilon 688202.SS | China | $1.47B | +18% | +42% | -2% | 6.3× | n/a | n/a |
| Taiwan Secom 9917.TW | Taiwan | $1.47B | -8% | +3% | 16% | 2.7× | -2.3% | +6.7% |
| Shenzhen Ampron Technology 301413.SZ | China | $1.48B | -7% | +11% | 2% | 7.8× | n/a | n/a |
| Shanghai Foreign Service 600662.SS | China | $1.49B | -14% | +1% | 2% | 0.1× | -20.6% | +1.9% |
| Clarivate CLVT | United States | $1.50B | -16% | -9% | 8% | 2.4× | 13.4% | +14.4% |
| Foxtron Vehicle Technologies 2258.TW | Taiwan | $1.50B | +1% | -50% | -132% | 15.3× | n/a | n/a |
| AFRY AFRY.ST | Sweden | $1.50B | +17% | -4% | 7% | 0.8× | -2.2% | +6.3% |