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Maker of marine anchor chains and mooring chains for merchant and offshore vessels.
Maker of marine anchor chains and mooring chains for merchant and offshore vessels.
Forges chain to order for ships and offshore platforms, and each product must be certified by a ship-classification society, so only a few suppliers qualify. Orders follow shipbuilding and offshore-rig activity. It is based in Jiangsu.
Moat: narrow (process know-how, customer qualification). Certified chain-forging expertise required by classification societies limits qualified suppliers.
Headquarters: Jiangyin, Jiangsu, China · Employees: 1,666
Size Asian Star Anchor Chain (601890.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.22B, the 1946th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.45 on 6 Nov 2026.
Performance Over six months the shares fell 22.7%, against -14.3% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +10.7%); the operating margin is 12.7% (peer median 6.8%).
Valuation It trades at 19.6× forward earnings against a peer median of 17.4× (6th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points above its cost of capital (6.5% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.10B | CN¥2.09B | CN¥1.98B | CN¥1.92B | CN¥1.51B |
| Revenue growth | — | +5% | +3% | +27% | — |
| Gross profit | CN¥721M | CN¥630M | CN¥593M | CN¥554M | CN¥371M |
| EBITDA | n/a | CN¥336M | CN¥347M | CN¥297M | CN¥195M |
| Net income | CN¥360M | CN¥317M | CN¥282M | CN¥237M | CN¥149M |
| Free cash flow | CN¥56.0M | CN¥158M | CN¥120M | CN¥132M | CN¥160M |
| Capital expenditure | CN¥208M | CN¥167M | CN¥100M | CN¥116M | CN¥19.4M |
| Total debt | CN¥1.63B | CN¥1.19B | CN¥782M | CN¥479M | CN¥602M |
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 |
|---|---|---|---|---|---|---|
| Asian Star Anchor Chain 601890.SS | $1.22B | -23% | +2% | 13% | 19.6× | 10.7% |
| Shanghai Zhenhua Heavy Industries 600320.SS | $2.64B | -21% | +6% | 5% | 20.4× | -4.9% |
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 | 601890.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.7% | -1.2% | 2nd lowest of 21 |
| 6-month return | -22.7% | -14.3% | 6th lowest of 21 |
| Distance from 52-week high | -41.0% | -29.5% | 8th lowest of 21 |
| Revenue growth (TTM) | +1.6% | +10.7% | 5th lowest of 21 |
| Operating margin | 12.7% | 6.8% | 7th highest of 21 |
| Forward P/E | 19.6× | 17.4× | 6th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 10.7% | 7.6% | 7th most demanding of 15 |
| Growth delivered (Del g) | +13.5% | +8.9% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | -2.9 pp | -0.4 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +1.5 pp | -0.7 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Asian Star Anchor Chain 601890.SS | China | $1.22B | -23% | +2% | 13% | 19.6× | 10.7% | +13.5% |
| Xinjiang Machinery Research Institute 300159.SZ | China | $1.21B | -28% | +28% | -40% | n/a | n/a | n/a |
| Austal ASB.AX | Australia | $1.23B | 0% | +11% | -7% | 18.1× | n/a | n/a |
| Chengdu Yunda Technology 300440.SZ | China | $1.17B | -1% | +9% | 6% | n/a | 42.0% | +8.7% |
| Chengdu Leejun Industrial 002651.SZ | China | $1.17B | -20% | +7% | -6% | n/a | 15.0% | -2.3% |
| OMH SCIENCE 300486.SZ | China | $1.17B | -30% | +35% | 2% | n/a | 47.7% | -0.3% |
| KTK 603680.SS | China | $1.28B | -24% | -16% | 17% | n/a | -6.0% | +2.3% |
| Greenbrier Companies GBX | United States | $1.29B | -18% | -24% | 4% | 13.0× | n/a | n/a |
| Alimak ALIG.ST | Sweden | $1.31B | +13% | -2% | 15% | 16.6× | 8.5% | +12.9% |
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% | +17.6% |
| Yamabiko 6250.T | Japan | $1.11B | +8% | +10% | 13% | 9.9× | -2.2% | +5.7% |
| Taiyuan Heavy Industry 600169.SS | China | $1.10B | -8% | +10% | 6% | n/a | -3.8% | +3.7% |
| Vossloh Aktiengesellschaft VOS.DE | Germany | $1.08B | -31% | +21% | 5% | 21.7× | 12.9% | +9.1% |
| Lindsay LNN | United States | $1.08B | -3% | -6% | 11% | 20.4× | 6.0% | +2.3% |
| Willing New Energy 002667.SZ | China | $1.08B | -20% | +49% | -44% | n/a | n/a | n/a |
| Hengbo 301225.SZ | China | $1.41B | -11% | +69% | 7% | 85.7× | n/a | n/a |
| Newag NWG.WA | Poland | $1.04B | -16% | +45% | 21% | 11.9× | -4.3% | +12.6% |
| Comer Industries COM.MI | Italy | $1.43B | -18% | +31% | 10% | 13.5× | 3.1% | +17.7% |
| Weichai Heavy Machinery 000880.SZ | China | $1.44B | -33% | +58% | 2% | n/a | 6.8% | +13.1% |
| TADANO 6395.T | Japan | $1.02B | -8% | +21% | 9% | 10.8× | n/a | n/a |
| Action Construction Equipment ACE.NS | India | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% | +21.7% |