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State-owned Chinese heavy-machinery maker producing large forgings, castings and metallurgical/nuclear power equipment.
State-owned Chinese heavy-machinery maker producing large forgings, castings and metallurgical/nuclear power equipment.
Builds to order, so revenue arrives as individual large components are finished and tested, with nuclear and other power-station forgings sold under contract to plant builders. Order timing follows China's reactor approvals, which the State Council grants in batches.
Moat: narrow (scale, regulatory licence). Few Chinese makers can forge nuclear-grade ultra-large components at its scale.
Headquarters: Qiqihar, China · Founded: 1954 · Employees: 8,606
Size China First Heavy Industries (601106.SS) is a China Industrials company (Industrial Machinery) with a market value of $2.98B, the 865th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.90 on 6 Nov 2026.
Performance Over six months the shares fell 36.1%, against -12.4% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median +16.7%); the operating margin is 0.0% (peer median 10.0%).
Valuation It trades at 4.2× enterprise value to sales against a peer median of 3.5× (11th cheapest of 21).
Capital Return on invested capital runs 3.7 points below its cost of capital (5.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.51B | CN¥9.80B | CN¥16.6B | CN¥17.2B | CN¥23.8B |
| Revenue growth | — | -41% | -3% | -28% | — |
| Gross profit | CN¥1.78B | CN¥1.04B | CN¥112M | CN¥834M | CN¥2.25B |
| EBITDA | n/a | CN¥739M | -CN¥2.13B | -CN¥955M | CN¥1.01B |
| Net income | -CN¥234M | -CN¥311M | -CN¥3.74B | -CN¥2.71B | CN¥104M |
| Free cash flow | -CN¥433M | CN¥630M | -CN¥35.2M | -CN¥446M | -CN¥1.46B |
| Capital expenditure | CN¥1.05B | CN¥931M | CN¥508M | CN¥590M | CN¥200M |
| Total debt | CN¥21.6B | CN¥23.0B | CN¥23.8B | CN¥21.5B | CN¥19.6B |
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 First Heavy Industries 601106.SS | $2.98B | -36% | 0% | 0% | 4.2× | n/a |
| Japan Steel Works 5631.T | $2.41B | -46% | -1% | 10% | 1.5× | n/a |
| Doosan Enerbility 034020.KS | $21.1B | -65% | +9% | 5% | 1.6× | 22.7% |
| SINOMACH Heavy Equipment 601399.SS | $3.33B | -28% | 0% | 4% | 1.2× | n/a |
| Taiyuan Heavy Industry 600169.SS | $1.10B | -8% | +10% | 6% | 1.9× | -3.8% |
| Kobe Steel 5406.T | $4.83B | 0% | -3% | 5% | 0.6× | -1.1% |
| Shanghai Electric 601727.SS | $12.3B | -24% | +16% | n/a | 0.9× | -5.7% |
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 | 601106.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.7% | -13.7% | 8th highest of 21 |
| 6-month return | -36.1% | -12.4% | 3rd lowest of 21 |
| Distance from 52-week high | -56.1% | -41.2% | 4th lowest of 21 |
| Revenue growth (TTM) | -0.4% | +16.7% | 3rd lowest of 21 |
| Operating margin | 0.0% | 10.0% | 2nd lowest of 21 |
| EV / Sales | 4.2× | 3.5× | 11th cheapest of 21 |
| ROIC minus cost of capital | -3.7 pp | +0.4 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China First Heavy Industries 601106.SS | China | $2.98B | -36% | 0% | 0% | 4.2× | n/a | n/a |
| Worthington Enterprises WOR | United States | $2.98B | +11% | +18% | 6% | 2.3× | 24.7% | -15.3% |
| Catcher Technology 2474.TW | Taiwan | $2.99B | -14% | -18% | 10% | 4.6× | 12.4% | -25.7% |
| Bozhon Precision Industry Technology 688097.SS | China | $3.00B | -23% | +74% | 7% | 2.5× | n/a | n/a |
| Formosa Sumco Technology 3532.TW | Taiwan | $3.01B | +12% | +9% | 4% | 8.9× | n/a | n/a |
| AIA Engineering AIAENG.NS | India | $3.08B | -22% | +7% | 24% | 5.2× | 20.4% | +9.1% |
| Jack Technology 603337.SS | China | $3.09B | +15% | +13% | 10% | 2.9× | 4.2% | +13.3% |
| Fuji 6134.T | Japan | $2.85B | -23% | +45% | 20% | 1.9× | n/a | n/a |
| SIASUN Robot & Automation 300024.SZ | China | $3.12B | -11% | +11% | -7% | 5.3× | n/a | n/a |
| Takasago Thermal Engineering 1969.T | Japan | $3.13B | -21% | +2% | 11% | 1.2× | 3.8% | +9.0% |
| Infore Environment Technology 000967.SZ | China | $3.14B | -53% | +20% | 8% | 1.7× | -0.8% | -0.7% |
| Shenzhen Zhaowei Machinery & Electronics 2692.HK | Hong Kong | $3.16B | -52% | +5% | 9% | 11.2× | 33.0% | +6.8% |
| Tokyo Seimitsu 7729.T | Japan | $3.16B | -29% | +17% | 22% | 2.4× | 16.0% | +11.4% |
| Nabtesco 6268.T | Japan | $2.77B | -28% | -8% | 9% | 1.3× | 7.8% | +2.0% |
| Carel Industries CRL.MI | Italy | $3.24B | -11% | +17% | 15% | 4.2× | 23.3% | +13.7% |
| Beijing Jingyi Automation Equipment 688652.SS | China | $2.73B | -10% | +34% | 9% | 9.4× | 49.0% | +32.4% |
| Guangzhou Haozhi Industrial 300503.SZ | China | $2.70B | -8% | +55% | 20% | 8.4× | n/a | n/a |
| SINOMACH Heavy Equipment 601399.SS | China | $3.33B | -28% | 0% | 4% | 1.2× | n/a | n/a |
| Kaori Heat Treatment 8996.TW | Taiwan | $3.34B | -1% | +108% | 16% | 11.2× | 46.0% | +25.9% |
| Moon Environment Technology 000811.SZ | China | $3.34B | -10% | +27% | 10% | 2.4× | 20.9% | +11.8% |
| Dongguan Yiheda Automation 301029.SZ | China | $2.65B | -2% | +31% | 18% | 4.3× | 21.6% | +19.5% |