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China Huadian-affiliated maker of offshore wind towers/foundations, port machinery and coal-handling equipment.
China Huadian-affiliated maker of offshore wind towers/foundations, port machinery and coal-handling equipment.
Fabricates large steel structures to order, with the Huadian group a major source of orders, so sales arrive in lumps as contracts are won and delivered. Coal-handling equipment for power plants is the traditional line, while offshore wind foundations are the growth push.
In one line: A heavy-equipment maker serving wind and port-logistics industries.
Moat: narrow (scale, customer qualification). Large-structure fabrication scale and ties to parent China Huadian Group's projects.
Headquarters: Beijing, China · Employees: 2,028
Size HuaDian Heavy Industries (601226.SS) is a China Industrials company (Engineering & Construction) with a market value of $1.04B, the 2217th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.05 on 6 Nov 2026.
Performance Over six months the shares fell 31.7%, against -23.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 17.8% over the last twelve months (peer median +1.5%); the operating margin is 2.0% (peer median 7.4%).
Valuation It trades at 29.5× forward earnings against a peer median of 15.4× (2nd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +15 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 3.9 points below its cost of capital (8.7% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.8B | CN¥10.4B | CN¥7.52B | CN¥7.17B | CN¥8.19B |
| Revenue growth | — | +38% | +5% | -13% | — |
| Gross profit | CN¥1.26B | CN¥1.05B | CN¥806M | CN¥731M | CN¥1.02B |
| EBITDA | n/a | CN¥388M | CN¥380M | CN¥389M | CN¥734M |
| Net income | CN¥187M | CN¥157M | CN¥115M | CN¥97.5M | CN¥310M |
| Free cash flow | CN¥13.5M | -CN¥752M | CN¥255M | CN¥404M | CN¥143M |
| Capital expenditure | CN¥106M | CN¥87.3M | CN¥69.6M | CN¥55.8M | CN¥73.6M |
| Total debt | CN¥1.48B | CN¥1.62B | CN¥2.19B | CN¥1.57B | CN¥1.48B |
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 |
|---|---|---|---|---|---|---|
| HuaDian Heavy Industries 601226.SS | $1.04B | -32% | +18% | 2% | 29.5× | 18.2% |
| Titan Wind Energy (Suzhou) 002531.SZ | $2.05B | -37% | -1% | 5% | 29.4× | n/a |
| Dajin Heavy Industry 002487.SZ | $3.71B | -60% | -2% | 19% | 19.6× | 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 | 601226.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.5% | -3.3% | 8th lowest of 21 |
| 6-month return | -31.7% | -23.1% | 5th lowest of 21 |
| Distance from 52-week high | -52.5% | -34.0% | 4th lowest of 21 |
| Revenue growth (TTM) | +17.8% | +1.5% | 3rd highest of 21 |
| Operating margin | 2.0% | 7.4% | 2nd lowest of 21 |
| Forward P/E | 29.5× | 15.4× | 2nd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 18.2% | -0.9% | 4th most demanding of 10 |
| Growth delivered (Del g) | +3.2% | +13.6% | 2nd lowest of 10 |
| Hurdle (Req g minus delivered) | +15.0 pp | -11.3 pp | 2nd most demanding of 10 |
| ROIC minus cost of capital | -3.9 pp | +1.0 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HuaDian Heavy Industries 601226.SS | China | $1.04B | -32% | +18% | 2% | 29.5× | 18.2% | +3.2% |
| Fugro FUR.AS | Netherlands | $1.06B | -29% | -11% | 3% | n/a | n/a | n/a |
| Toa Corporation (Construction) 1885.T | Japan | $1.06B | -29% | +2% | 7% | 9.1× | -12.2% | +13.6% |
| Jiangsu Libert 605167.SS | China | $1.02B | -24% | -29% | 8% | 28.6× | n/a | n/a |
| Anhui Construction Engineering 600502.SS | China | $1.07B | -23% | -4% | 6% | 4.6× | n/a | n/a |
| Chiyoda 6366.T | Japan | $1.07B | -35% | +16% | 17% | 6.7× | n/a | n/a |
| Guangzhou Metro Design & Research Institute 003013.SZ | China | $1.01B | +9% | -8% | 15% | 21.1× | n/a | n/a |
| IRCON International IRCON.NS | India | $1.08B | -33% | -3% | 7% | 15.4× | n/a | n/a |
| Toenec 1946.T | Japan | $1.01B | -32% | +2% | 8% | 7.9× | -2.3% | +4.8% |
| Superloop SLC.AX | Australia | $1.01B | -19% | +22% | 5% | 30.8× | 28.0% | +47.3% |
| Rosetti Marino YRM.MI | Italy | $1.01B | -9% | +14% | 7% | 27.6× | n/a | n/a |
| thyssenkrupp nucera AG & Co. KGaA NCH2.DE | Germany | $1.09B | -13% | -42% | -13% | n/a | n/a | n/a |
| East China Engineering Science and Technology 002140.SZ | China | $1,000M | -24% | +9% | 7% | 11.6× | 0.3% | +13.9% |
| Yurtec 1934.T | Japan | $998M | -8% | -2% | 8% | 11.0× | -6.2% | +5.1% |
| Acter Technology Integration 603163.SS | China | $997M | -32% | +1% | 11% | 28.4× | 18.6% | +22.2% |
| Welspun Enterprises WELENT.NS | India | $995M | +29% | +1% | 19% | 22.3× | n/a | n/a |
| Kanadevia 7004.T | Japan | $979M | -23% | +8% | 2% | 6.3× | n/a | n/a |
| Norbit NORBT.OL | Norway | $1.12B | -28% | +34% | 22% | 21.1× | -5.3% | +32.2% |
| RAIZNEXT 6379.T | Japan | $972M | +29% | +13% | 8% | 15.8× | -0.9% | +3.6% |
| IPARK Hyundai Development 294870.KS | South Korea | $1.12B | +4% | -13% | 11% | 4.2× | n/a | n/a |
| Decai Decoration 605287.SS | China | $1.12B | -3% | +17% | 5% | n/a | 25.3% | -5.4% |