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State-owned engineering group building hydropower, wind, solar and water infrastructure projects across China and abroad.
State-owned engineering group building hydropower, wind, solar and water infrastructure projects across China and abroad.
Wins projects by contract and books revenue as work progresses, so margins depend on cost control and on how quickly customers pay. Formed in 2011 by combining Sinohydro with power-engineering businesses spun out of the two state grid companies, it is owned by the central government.
In one line: China's Bechtel for power and water infrastructure.
Moat: narrow (scale, installed base, regulatory licence). State-owned champion with decades of hydropower track record and licences few private firms hold.
Headquarters: Beijing, China · Founded: 2011 · Employees: 161,478
Size Power Construction Corporation of China (601669.SS) is a China Industrials company (Engineering & Construction) with a market value of $11.5B, the 217th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.48 on 6 Nov 2026.
Performance Over six months the shares fell 19.9%, against -17.6% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 1.8% over the last twelve months (peer median +4.6%); the operating margin is 4.2% (peer median 6.4%).
Valuation It trades at 8.4× forward earnings against a peer median of 12.3× (5th cheapest of 21).
Capital Return on invested capital runs 1.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥636B | CN¥645B | CN¥634B | CN¥609B | CN¥572B |
| Revenue growth | — | +2% | +4% | +6% | — |
| Gross profit | CN¥94.7B | CN¥77.8B | CN¥81.5B | CN¥78.6B | CN¥68.1B |
| EBITDA | n/a | CN¥51.0B | CN¥50.2B | CN¥50.2B | CN¥41.6B |
| Net income | CN¥7.19B | CN¥9.09B | CN¥10.9B | CN¥11.7B | CN¥11.4B |
| Free cash flow | -CN¥7.73B | -CN¥12.0B | -CN¥32.0B | -CN¥50.2B | -CN¥26.3B |
| Capital expenditure | CN¥33.2B | CN¥44.3B | CN¥59.1B | CN¥73.7B | CN¥57.8B |
| Total debt | CN¥635B | CN¥577B | CN¥538B | CN¥470B | CN¥417B |
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 |
|---|---|---|---|---|---|---|
| Power Construction Corporation of China 601669.SS | $11.5B | -20% | -2% | 4% | 8.4× | n/a |
| China Railway Construction 601186.SS | $11.4B | -11% | -9% | 4% | 4.9× | n/a |
| China Energy Engineering 601868.SS | $13.6B | -18% | -5% | 4% | 17.9× | n/a |
| China Communications Construction 601800.SS | $12.8B | -12% | -4% | 3% | 6.8× | n/a |
| China State Construction Engineering 601668.SS | $28.3B | -4% | -9% | n/a | 5.6× | 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 | 601669.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | -1.7% | 11th highest of 21 |
| 6-month return | -19.9% | -17.6% | 9th lowest of 21 |
| Distance from 52-week high | -37.7% | -30.9% | 10th lowest of 21 |
| Revenue growth (TTM) | -1.8% | +4.6% | 8th lowest of 21 |
| Operating margin | 4.2% | 6.4% | 6th lowest of 21 |
| Forward P/E | 8.4× | 12.3× | 5th cheapest of 21 |
| ROIC minus cost of capital | -1.2 pp | +2.2 pp | 6th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Power Construction Corporation of China 601669.SS | China | $11.5B | -20% | -2% | 4% | 8.4× | n/a | n/a |
| China Railway Construction 1186.HK | Hong Kong | $11.4B | -22% | -5% | 4% | 3.2× | n/a | n/a |
| Eiffage FGR.PA | France | $11.5B | -20% | +5% | 10% | 9.3× | -6.9% | +9.4% |
| Sichuan Road & Bridge 600039.SS | China | $11.4B | +8% | +8% | 10% | 9.7× | -5.0% | +12.3% |
| Skanska SKA-B.ST | Sweden | $12.1B | +16% | -6% | 4% | 17.1× | 8.3% | +2.0% |
| Taisei 1801.T | Japan | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% | +7.1% |
| Kajima 1812.T | Japan | $12.5B | -27% | +4% | 8% | 10.8× | -1.9% | +10.0% |
| Tetra Tech TTEK | United States | $10.3B | +33% | -8% | 12% | 24.0× | 8.3% | +12.7% |
| China Communications Construction 1800.HK | Hong Kong | $12.8B | -26% | -5% | 4% | 3.1× | n/a | n/a |
| Atkinsrealis ATRL.TO | Canada | $9.94B | -7% | +15% | 7% | 19.9× | 11.4% | +9.6% |
| Acciona ANA.MC | Spain | $13.4B | -16% | +8% | 6% | 19.8× | 8.2% | +25.6% |
| China Energy Engineering 601868.SS | China | $13.6B | -18% | -5% | 4% | 17.9× | n/a | n/a |
| MasTec MTZ | United States | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% | +17.7% |
| Saipem SPM.MI | Italy | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% | +16.1% |
| China Railway 0390.HK | Hong Kong | $15.0B | -19% | -4% | 4% | 3.6× | n/a | n/a |
| SamsungE&A 028050.KS | South Korea | $8.73B | +14% | +19% | 11% | 13.6× | -2.1% | +6.1% |
| Aecom ACM | United States | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% | +4.0% |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |