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China's main listed aero-engine maker, producing military and civil jet engines and industrial gas turbines.
China's main listed aero-engine maker, producing military and civil jet engines and industrial gas turbines.
Sells engines, spare parts and overhaul work under state-directed contracts, with the military the main buyer, so growth follows defense procurement and the repair cycle of engines already in service. Its parent, Aero Engine Corporation of China (AECC), is a state group that controls it.
In one line: China's GE Aerospace/Safran.
Moat: wide (regulatory licence, scale, IP / patents). State-backed sole domestic supplier of military aero-engines with high qualification barriers.
Headquarters: Shenyang, China · Founded: 1993 · Employees: 30,428
Size AECC Aviation Power (600893.SS) is a China Industrials company (Aerospace & Defense) with a market value of $15.8B, the 146th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥39.52 on 6 Nov 2026.
Performance Over six months the shares fell 14.6%, against -2.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 18.0% over the last twelve months (peer median +15.2%); the operating margin is 2.1% (peer median 10.7%).
Valuation It trades at 173.7× forward earnings against a peer median of 24.8× (most expensive of 21).
Capital Return on invested capital runs 4.0 points below its cost of capital (6.3% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥52.8B | CN¥46.3B | CN¥47.6B | CN¥43.5B | CN¥37.0B |
| Revenue growth | — | -3% | +10% | +18% | — |
| Gross profit | CN¥6.30B | CN¥3.92B | CN¥4.32B | CN¥4.14B | CN¥3.65B |
| EBITDA | n/a | CN¥3.55B | CN¥3.61B | CN¥3.61B | CN¥2.75B |
| Net income | CN¥679M | CN¥634M | CN¥860M | CN¥1.42B | CN¥1.27B |
| Free cash flow | -CN¥7.87B | -CN¥7.96B | -CN¥17.2B | -CN¥9.84B | -CN¥13.9B |
| Capital expenditure | CN¥3.57B | CN¥3.77B | CN¥2.92B | CN¥3.34B | CN¥2.84B |
| Total debt | CN¥50.3B | CN¥46.3B | CN¥40.9B | CN¥24.8B | CN¥19.3B |
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 |
|---|---|---|---|---|---|---|
| AECC Aviation Power 600893.SS | $15.8B | -15% | +18% | 2% | 173.7× | n/a |
| GE Aerospace GE | $334B | +9% | +20% | 18% | 36.4× | 27.6% |
| Safran SAF.PA | $138B | +4% | +14% | 13% | 28.5× | 22.2% |
| RTX RTX | $256B | +8% | +12% | 11% | 24.4× | 8.4% |
| Rolls-Royce RR..L | $140B | +6% | +19% | 18% | 28.5× | 24.6% |
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 | 600893.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.8% | +3.1% | 10th highest of 21 |
| 6-month return | -14.6% | -2.9% | 7th lowest of 21 |
| Distance from 52-week high | -38.0% | -25.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +18.0% | +15.2% | 9th highest of 21 |
| Operating margin | 2.1% | 10.7% | 2nd lowest of 21 |
| Forward P/E | 173.7× | 24.8× | most expensive of 21 |
| ROIC minus cost of capital | -4.0 pp | +3.6 pp | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AECC Aviation Power 600893.SS | China | $15.8B | -15% | +18% | 2% | 173.7× | n/a | n/a |
| Csg CSG.AS | Netherlands | $14.6B | -20% | +72% | 25% | 11.7× | n/a | n/a |
| Curtiss-Wright CW | United States | $17.1B | -36% | +11% | 19% | 27.4× | 16.2% | +7.9% |
| Textron TXT | United States | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% | +4.9% |
| Embraer S.A. Sponsored ADR EMBJ | United States | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% | +14.5% |
| FTAI Aviation FTAI | United States | $18.4B | -33% | +46% | 23% | 16.7× | n/a | n/a |
| AVIC Shenyang Aircraft 600760.SS | China | $20.8B | +4% | -1% | 8% | 45.1× | n/a | n/a |
| MTU Aero Engines MTX.DE | Germany | $20.9B | +21% | +12% | 13% | 18.5× | 6.3% | +17.1% |
| Crane CR | United States | $11.6B | +11% | +22% | 18% | 25.8× | 17.5% | -3.5% |
| Arxis ARXS | United States | $21.5B | +42% | +114% | 20% | 54.2× | 58.8% | n/a |
| Huntington Ingalls Industries HII | United States | $11.4B | -8% | +13% | 5% | 14.4× | 5.3% | +5.9% |
| Bombardier BBD-B.TO | Canada | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% | +8.9% |
| Singapore Technologies Engineering S63.SI | Singapore | $22.6B | -13% | +11% | 9% | 27.3× | 5.3% | +11.5% |
| BWX Technologies BWXT | United States | $11.0B | -42% | +18% | 10% | 23.8× | 19.6% | +8.5% |
| Jonhon Optronic Technology 002179.SZ | China | $10.7B | -7% | +6% | 11% | 30.4× | n/a | n/a |
| Moog MOG-A | United States | $10.3B | +3% | +16% | 12% | 27.8× | 15.1% | +6.0% |
| Hensoldt HAG.DE | Germany | $10.0B | +2% | +15% | 10% | 41.3× | 12.2% | +15.3% |
| Hanwha Aerospace 012450.KS | South Korea | $25.0B | -53% | +28% | 11% | 17.2× | -7.0% | +38.1% |
| AVIC Xi'an Aircraft Industry 000768.SZ | China | $9.92B | +1% | -34% | 3% | 55.7× | n/a | n/a |
| Axon Enterprise AXON | United States | $25.4B | -22% | +35% | 1% | 36.5× | n/a | n/a |
| Dassault Aviation AM.PA | France | $26.0B | +6% | +33% | 9% | 19.6× | 5.2% | +6.2% |