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Maker of relay protection and automation systems that control and protect China's power grid substations.
Maker of relay protection and automation systems that control and protect China's power grid substations.
Sells mostly to the two state grid companies and to power producers, which buy protection and control equipment through tenders, so winning bids and the pace of substation building decide sales. Once its relays are approved for a grid, they tend to stay in use, bringing repeat orders for upgrades and extensions.
In one line: A Chinese Schweitzer Engineering Labs.
Moat: narrow (customer qualification, installed base). Grid-certified protection equipment is safety-critical, giving qualified vendors sticky repeat business.
Headquarters: Beijing, China · Founded: 1994 · Employees: 4,110
Size Beijing Sifang Automation (601126.SS) is a China Industrials company (Electrical Products) with a market value of $3.94B, the 650th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥31.22 on 6 Nov 2026.
Performance Over six months the shares fell 44.3%, against -21.4% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 19 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +21.7%); the operating margin is 9.0% (peer median 7.2%).
Valuation It trades at 27.8× forward earnings against a peer median of 20.4× (6th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.4 points above its cost of capital (10.7% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.70B | CN¥8.15B | CN¥6.91B | CN¥5.72B | CN¥5.04B |
| Revenue growth | — | +18% | +21% | +13% | — |
| Gross profit | CN¥2.75B | CN¥2.34B | CN¥2.13B | CN¥1.87B | CN¥1.54B |
| EBITDA | n/a | CN¥872M | CN¥852M | CN¥774M | CN¥675M |
| Net income | CN¥871M | CN¥829M | CN¥716M | CN¥627M | CN¥543M |
| Free cash flow | CN¥328M | CN¥1.03B | CN¥1.09B | CN¥1.11B | CN¥635M |
| Capital expenditure | CN¥292M | CN¥210M | CN¥167M | CN¥128M | CN¥75.2M |
| Total debt | CN¥1.59B | CN¥1.63B | CN¥1.17B | CN¥869M | CN¥763M |
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 |
|---|---|---|---|---|---|---|
| Beijing Sifang Automation 601126.SS | $3.94B | -44% | +9% | 9% | 27.8× | 25.3% |
| NARI Technology 600406.SS | $28.6B | -8% | +12% | 13% | 21.7× | 2.5% |
| Sieyuan Electric 002028.SZ | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% |
| China XD Electric 601179.SS | $8.51B | -35% | +7% | 8% | 36.0× | 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 | 601126.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.5% | -12.0% | 10th highest of 21 |
| 6-month return | -44.3% | -21.4% | 6th lowest of 19 |
| Distance from 52-week high | -64.9% | -42.3% | 2nd lowest of 21 |
| Revenue growth (TTM) | +9.0% | +21.7% | 7th lowest of 20 |
| Operating margin | 9.0% | 7.2% | 9th highest of 21 |
| Forward P/E | 27.8× | 20.4× | 6th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 25.3% | 9.7% | 3rd most demanding of 6 |
| Growth delivered (Del g) | +16.3% | +16.4% | 3rd highest of 5 |
| Hurdle (Req g minus delivered) | +8.9 pp | -6.6 pp | most demanding of 5 |
| ROIC minus cost of capital | +8.4 pp | -1.6 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Sifang Automation 601126.SS | China | $3.94B | -44% | +9% | 9% | 27.8× | 25.3% | +16.3% |
| Shenzhen Hfc 301716.SZ | China | $3.93B | n/a | +114% | 44% | n/a | 45.3% | n/a |
| Gaon Cable 000500.KS | South Korea | $3.97B | +50% | +32% | 3% | n/a | n/a | n/a |
| Guangzhou Great Power Energy & Technology 300438.SZ | China | $3.90B | -50% | +125% | 7% | 11.7× | 9.7% | +26.8% |
| State Grid Yingda 600517.SS | China | $4.01B | -21% | +8% | 22% | 10.2× | -18.5% | +8.1% |
| XJ Electric 000400.SZ | China | $3.86B | 0% | -8% | 6% | 23.5× | n/a | n/a |
| KEI Industries KEI.NS | India | $4.03B | -22% | +25% | 10% | 33.9× | n/a | n/a |
| Ugreen 301606.SZ | China | $4.13B | -23% | +50% | 9% | 25.4× | n/a | n/a |
| Hainan Jinpan Smart Technology 688676.SS | China | $3.75B | -38% | +12% | 10% | 29.4× | 28.5% | +24.7% |
| Rosebank Industries ROSE.L | United Kingdom | $4.15B | -12% | n/a | 13% | 18.8× | n/a | n/a |
| Dajin Heavy Industry 002487.SZ | China | $3.71B | -60% | -2% | 19% | 19.6× | n/a | n/a |
| Walsin Lihwa 1605.TW | Taiwan | $4.21B | -3% | -4% | 0% | 7.5× | n/a | n/a |
| Wuhan Raycus Fiber Laser Technologies 300747.SZ | China | $3.67B | +22% | +16% | 6% | 76.8× | n/a | n/a |
| Teco Electric & Machinery 1504.TW | Taiwan | $4.23B | -13% | +8% | 9% | 19.5× | 9.3% | +5.2% |
| Shanghai Moons Electrical 603728.SS | China | $3.66B | -1% | +22% | 4% | 183.9× | n/a | n/a |
| DPC DPC | United States | $4.30B | n/a | +12% | -1% | 31.9× | n/a | n/a |
| CALB 3931.HK | Hong Kong | $3.57B | -59% | +80% | 7% | 8.1× | n/a | n/a |
| LS 006260.KS | South Korea | $3.51B | -62% | +30% | 4% | 8.0× | n/a | n/a |
| Henan Pinggao Electric 600312.SS | China | $4.43B | -1% | -6% | 13% | 21.1× | n/a | n/a |
| Sany Renewable Energy 688349.SS | China | $3.50B | -22% | +30% | 2% | 21.7× | n/a | n/a |
| CNGR Advanced Material 2579.HK | Hong Kong | $4.48B | -58% | +53% | 7% | 5.6× | n/a | n/a |