Loading…
AVIC group unit forging and casting heavy aerospace, defense and industrial machinery components.
AVIC group unit forging and casting heavy aerospace, defense and industrial machinery components.
Most income is from forged and cast parts for aircraft and engine programmes, delivered to units of the AVIC group, so orders follow state military and civil aircraft build plans and prices are set by agreement rather than open bidding.
In one line: A Chinese Precision Castparts (aerospace forgings/castings).
Moat: narrow (customer qualification, regulatory licence). Qualified aerospace-forging supplier status within the state AVIC group is hard to replicate.
Headquarters: Shenyang, Liaoning, China · Employees: 8,821
Size Avic Heavy Machinery (600765.SS) is a China Industrials company (Metal Fabrication) with a market value of $2.84B, the 904th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.23 on 6 Nov 2026.
Performance Over six months the shares fell 23.3%, against -5.6% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 19 in its peer set.
Growth Revenue fell 12.7% over the last twelve months (peer median +19.2%); the operating margin is 3.7% (peer median 9.6%).
Valuation It trades at 23.1× forward earnings against a peer median of 27.5× (10th cheapest of 19).
Capital Return on invested capital runs 3.2 points below its cost of capital (6.1% WACC).
Next results Next results expected around 12 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.22B | CN¥10.1B | CN¥10.3B | CN¥11.5B | CN¥10.5B |
| Revenue growth | — | -2% | -11% | +9% | — |
| Gross profit | CN¥2.66B | CN¥2.69B | CN¥2.29B | CN¥3.48B | CN¥3.00B |
| EBITDA | n/a | CN¥1.41B | CN¥1.48B | CN¥2.12B | CN¥1.80B |
| Net income | CN¥368M | CN¥609M | CN¥640M | CN¥1.34B | CN¥1.20B |
| Free cash flow | -CN¥1.13B | -CN¥1.99B | -CN¥1.09B | -CN¥491M | -CN¥52.2M |
| Capital expenditure | CN¥875M | CN¥834M | CN¥1.02B | CN¥1.19B | CN¥878M |
| Total debt | CN¥5.22B | CN¥5.89B | CN¥6.17B | CN¥5.47B | CN¥6.21B |
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 |
|---|---|---|---|---|---|---|
| Avic Heavy Machinery 600765.SS | $2.84B | -23% | -13% | 4% | 23.1× | n/a |
| Howmet Aerospace HWM | $81.8B | -24% | +22% | 28% | 32.6× | 24.1% |
| AECC Aviation Power 600893.SS | $15.8B | -15% | +18% | 2% | 173.7× | n/a |
| ATI ATI | $23.9B | +11% | +9% | 18% | 28.0× | 20.6% |
| Carpenter Technology CRS | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% |
| AECC Aero Science And Technology 600391.SS | $2.13B | +16% | -15% | 4% | 253.6× | 29.7% |
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 | 600765.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.1% | -4.8% | 10th lowest of 20 |
| 6-month return | -23.3% | -5.6% | 6th lowest of 19 |
| Distance from 52-week high | -44.5% | -44.0% | 10th lowest of 20 |
| Revenue growth (TTM) | -12.7% | +19.2% | 2nd lowest of 21 |
| Operating margin | 3.7% | 9.6% | 3rd lowest of 21 |
| Forward P/E | 23.1× | 27.5× | 10th cheapest of 19 |
| ROIC minus cost of capital | -3.2 pp | +0.6 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avic Heavy Machinery 600765.SS | China | $2.84B | -23% | -13% | 4% | 23.1× | n/a | n/a |
| Tolerance Technology (Jiangsu) 301583.SZ | China | $2.82B | n/a | +18% | 15% | n/a | n/a | n/a |
| Zetwerk Manufacturing Businesses ZETWERK.NS | India | $2.96B | n/a | +40% | 1% | n/a | n/a | n/a |
| Zhejiang XCC 603667.SS | China | $2.99B | -20% | -15% | 2% | 91.0× | 47.9% | +13.9% |
| Shaanxi Sirui Advanced Materials 688102.SS | China | $2.99B | -39% | +38% | 11% | 96.5× | n/a | n/a |
| Jyoti Cnc Automation JYOTICNC.NS | India | $2.45B | +32% | +18% | 21% | 53.8× | n/a | n/a |
| Bossard BOSN.SW | Switzerland | $2.42B | +55% | +7% | 11% | 20.1× | 5.9% | +5.6% |
| Sinomach Precision Industry 002046.SZ | China | $3.47B | -17% | -1% | 4% | 75.7× | n/a | n/a |
| Maruichi Steel Tube 5463.T | Japan | $2.32B | +5% | -2% | 14% | 11.9× | -2.7% | +8.6% |
| Taihan Cable & Solution 001440.KS | South Korea | $2.31B | -70% | +22% | 5% | 99.2× | n/a | n/a |
| Anhui Honglu Steel Construction (Group) 002541.SZ | China | $2.30B | +4% | +12% | 5% | 16.0× | 3.8% | +10.4% |
| Zhejiang Changsheng Sliding Bearings 300718.SZ | China | $2.25B | -29% | +20% | 21% | 47.3× | 16.5% | +14.1% |
| Endurance Technologies ENDURANCE.NS | India | $3.71B | -1% | +32% | 8% | 32.3× | 29.9% | +17.6% |
| Lizhong Sitong Light Alloys 300428.SZ | China | $2.14B | -3% | +24% | 4% | 11.8× | n/a | n/a |
| NBTM New Materials 600114.SS | China | $2.14B | -40% | +6% | 9% | 22.8× | 13.8% | +13.0% |
| Shyam Metalics & Energy SHYAMMETL.NS | India | $3.84B | +47% | +26% | 9% | 19.3× | n/a | n/a |
| PTC Industries PTCIL.NS | India | $4.09B | +45% | +95% | 19% | 174.5× | n/a | n/a |
| Hebei Huatong Wires and Cables 605196.SS | China | $1.94B | -41% | +49% | 10% | 13.4× | n/a | n/a |
| Hengdian Group DMEGC Magnetics 002056.SZ | China | $4.16B | -9% | +3% | 7% | 14.5× | n/a | n/a |
| POCO 300811.SZ | China | $4.24B | -15% | +48% | 24% | 38.4× | n/a | n/a |
| Beijer Alma BEIA-B.ST | Sweden | $1.86B | 0% | +6% | 15% | 20.7× | 9.9% | +12.8% |