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Chinese aerospace group's platform for aviation composite prepreg materials and pilot flight-simulator training systems.
Chinese aerospace group's platform for aviation composite prepreg materials and pilot flight-simulator training systems.
Sells composite prepreg, fibre sheets pre-soaked in resin that are shaped into aircraft parts, mainly to aircraft makers in the state-owned AVIC group, so sales follow military and commercial programme schedules. Flight simulators and pilot-training systems are the second line.
Moat: narrow (regulatory licence, customer qualification). State-backed sole/preferred supplier status for military aircraft composite materials in China.
Headquarters: Beijing, China · Employees: 1,056
Size Avic Aviation High-Technology (600862.SS) is a China Industrials company (Industrial Machinery) with a market value of $3.92B, the 656th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.74 on 6 Nov 2026.
Performance Over six months the shares fell 6.3%, against -15.6% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue fell 3.4% over the last twelve months (peer median +7.8%); the operating margin is 22.1% (peer median 7.0%).
Valuation It trades at 31.2× forward earnings against a peer median of 17.7× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.3 points above its cost of capital (6.3% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.84B | CN¥4.99B | CN¥5.05B | CN¥4.77B | CN¥4.43B |
| Revenue growth | — | -1% | +6% | +8% | — |
| Gross profit | CN¥1.88B | CN¥1.78B | CN¥1.88B | CN¥1.68B | CN¥1.30B |
| EBITDA | n/a | CN¥1.40B | CN¥1.49B | CN¥1.32B | CN¥974M |
| Net income | CN¥952M | CN¥1.03B | CN¥1.15B | CN¥1.03B | CN¥765M |
| Free cash flow | CN¥1.21B | CN¥949M | CN¥378M | CN¥231M | CN¥184M |
| Capital expenditure | CN¥302M | CN¥248M | CN¥156M | CN¥230M | CN¥248M |
| Total debt | CN¥113M | CN¥478M | CN¥355M | CN¥737M | CN¥261M |
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 Aviation High-Technology 600862.SS | $3.92B | -6% | -3% | 22% | 31.2× | 6.0% |
| Hexcel HXL | $6.09B | -16% | +8% | 11% | 29.6× | 23.0% |
| Toray Industries 3402.T | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% |
| CAE CAE.TO | $8.67B | +3% | +5% | 13% | 29.5× | 13.2% |
| Weihai Guangwei Composites 300699.SZ | $2.68B | -35% | +12% | 16% | 45.8× | 13.8% |
| Teijin 3401.T | $2.07B | +7% | -14% | -7% | 6.9× | -11.5% |
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 | 600862.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | -3.1% | 5th highest of 21 |
| 6-month return | -6.3% | -15.6% | 5th highest of 20 |
| Distance from 52-week high | -34.2% | -34.2% | 11th highest of 21 |
| Revenue growth (TTM) | -3.4% | +7.8% | 5th lowest of 21 |
| Operating margin | 22.1% | 7.0% | 2nd highest of 21 |
| Forward P/E | 31.2× | 17.7× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 6.0% | 7.5% | 5th least demanding of 11 |
| Growth delivered (Del g) | +11.4% | +9.5% | 4th highest of 11 |
| Hurdle (Req g minus delivered) | -5.4 pp | -2.6 pp | 4th least demanding of 11 |
| ROIC minus cost of capital | +8.3 pp | -3.3 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avic Aviation High-Technology 600862.SS | China | $3.92B | -6% | -3% | 22% | 31.2× | 6.0% | +11.4% |
| Krones KRN.DE | Germany | $3.94B | -7% | +3% | 7% | 11.2× | -1.8% | +11.3% |
| Voltas VOLTAS.NS | India | $3.84B | -19% | +4% | 4% | 50.1× | n/a | n/a |
| Aixtron AIXA.DE | Germany | $3.84B | -45% | -9% | 16% | 42.6× | 5.7% | +15.6% |
| Estun Automation 2715.HK | Hong Kong | $3.79B | -9% | +13% | 4% | 42.2× | 28.7% | +13.5% |
| Ningbo Zhenyu Technology 300953.SZ | China | $3.77B | -35% | +58% | 6% | 21.2× | n/a | n/a |
| Mueller Water Products MWA | United States | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% | +5.8% |
| Amada 6113.T | Japan | $4.10B | -20% | +18% | 10% | 15.9× | 8.7% | +11.8% |
| Zijin Longking 600388.SS | China | $3.70B | -6% | +13% | 11% | 17.4× | n/a | n/a |
| Jiangsu Gao Kai Precision Fluid 688835.SS | China | $4.15B | n/a | +21% | 24% | n/a | n/a | n/a |
| Franklin Electric FELE | United States | $4.16B | -5% | +7% | 13% | 18.0× | 9.2% | +11.3% |
| DMG MORI Aktiengesellschaft GIL.DE | Germany | $4.17B | 0% | +3% | 5% | n/a | 11.3% | +2.7% |
| Sumitomo Heavy Industries 6302.T | Japan | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% | +4.3% |
| Haitian International 1882.HK | Hong Kong | $3.64B | -18% | +8% | 17% | 7.4× | -11.5% | +7.7% |
| X-Energy XE | United States | $4.24B | -65% | -9% | -156% | n/a | n/a | n/a |
| Kunshan Kinglai Hygienic Materials 300260.SZ | China | $3.61B | -12% | +11% | 8% | 73.2× | n/a | n/a |
| Danieli & C. Officine Meccaniche DAN.MI | Italy | $3.60B | -24% | -8% | -6% | 13.5× | n/a | n/a |
| Leo 002131.SZ | China | $4.33B | -34% | +10% | -1% | n/a | n/a | n/a |
| THK 6481.T | Japan | $3.52B | -16% | +8% | 7% | 10.6× | 24.8% | +1.9% |
| Anhui Yingliu Electromechanical 603308.SS | China | $3.50B | -58% | +38% | 13% | 42.0× | n/a | n/a |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |