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State contractor designing and building chemical, petrochemical and pharmaceutical plants in China and abroad.
State contractor designing and building chemical, petrochemical and pharmaceutical plants in China and abroad.
Wins design-and-build contracts for chemical, petrochemical and coal-chemical plants, typically fixed-price and booked as work advances, so results follow the order backlog and whether projects stay on budget. A central state-owned group controls it, and overseas projects serve countries tied to the Belt and Road programme.
Moat: narrow (process know-how, regulatory licence). Specialised process-engineering qualifications for chemical plants few Chinese peers hold.
Headquarters: Beijing, China · Founded: 1984 · Employees: 50,598
Size China National Chemical Engineering (601117.SS) is a China Industrials company (Engineering & Construction) with a market value of $6.68B, the 369th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.30 on 6 Nov 2026.
Performance Over six months the shares fell 15.1%, against -9.8% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 1.8% over the last twelve months (peer median +10.0%); the operating margin is 4.6% (peer median 9.9%).
Valuation It trades at 6.4× forward earnings against a peer median of 13.1× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -17% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.5 points above its cost of capital (5.6% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥191B | CN¥190B | CN¥186B | CN¥179B | CN¥158B |
| Revenue growth | — | +2% | +4% | +13% | — |
| Gross profit | CN¥22.9B | CN¥20.2B | CN¥18.7B | CN¥17.0B | CN¥14.8B |
| EBITDA | n/a | CN¥10.1B | CN¥9.34B | CN¥8.49B | CN¥7.52B |
| Net income | CN¥6.53B | CN¥6.44B | CN¥5.69B | CN¥5.43B | CN¥5.42B |
| Free cash flow | CN¥6.15B | -CN¥1.17B | CN¥5.75B | CN¥6.01B | -CN¥1.47B |
| Capital expenditure | CN¥1.73B | CN¥2.66B | CN¥3.02B | CN¥3.33B | CN¥3.04B |
| Total debt | CN¥27.4B | CN¥29.1B | CN¥31.1B | CN¥32.3B | CN¥26.0B |
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 |
|---|---|---|---|---|---|---|
| China National Chemical Engineering 601117.SS | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% |
| Power Construction Corporation of China 601669.SS | $11.5B | -20% | -2% | 4% | 8.4× | n/a |
| Metallurgical Corporation of China 601618.SS | $7.54B | -10% | -21% | -4% | 11.4× | -0.5% |
| China Railway Construction 601186.SS | $11.4B | -11% | -9% | 4% | 4.9× | n/a |
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 | 601117.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +0.5% | 10th highest of 21 |
| 6-month return | -15.1% | -9.8% | 9th lowest of 21 |
| Distance from 52-week high | -30.3% | -28.9% | 11th highest of 21 |
| Revenue growth (TTM) | +1.8% | +10.0% | 5th lowest of 20 |
| Operating margin | 4.6% | 9.9% | 5th lowest of 21 |
| Forward P/E | 6.4× | 13.1× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -17.3% | 1.7% | least demanding of 18 |
| Growth delivered (Del g) | +11.6% | +6.7% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | -28.9 pp | -5.6 pp | least demanding of 17 |
| ROIC minus cost of capital | +4.5 pp | +3.2 pp | 7th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |
| Technip Energies TE.PA | France | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% | +4.6% |
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| Metallurgical Corporation of China 601618.SS | China | $7.54B | -10% | -21% | -4% | 11.4× | -0.5% | +2.6% |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| Kandenko 1942.T | Japan | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% | +5.9% |
| Aecom ACM | United States | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% | +4.0% |
| SOLV Energy MWH | United States | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% | n/a |
| CTF Services 0659.HK | Hong Kong | $5.13B | +2% | +12% | 11% | 13.8× | 1.7% | -0.8% |
| SamsungE&A 028050.KS | South Korea | $8.73B | +14% | +19% | 11% | 13.6× | -2.1% | +6.1% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |