Employees: 1,618
Size Suzhou West Deane New Power Electric (603312.SS) is a China Industrials company (Engineering & Construction) with a market value of $750M, the 2908th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥32.40 on 6 Nov 2026.
Performance Over six months the shares fell 17.9%, against -14.1% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 8.5% over the last twelve months (peer median +12.1%); the operating margin is 9.4% (peer median 8.6%).
Valuation It trades at 20.2× forward earnings against a peer median of 13.9× (2nd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +62%, so the hurdle is -55 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.9 points above its cost of capital (7.3% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.60B | CN¥2.77B | CN¥2.16B | CN¥1.83B | CN¥1.59B |
| Revenue growth | — | +29% | +18% | +15% | — |
| Gross profit | CN¥426M | CN¥425M | CN¥364M | CN¥329M | CN¥276M |
| EBITDA | n/a | CN¥351M | CN¥277M | CN¥261M | CN¥190M |
| Net income | CN¥204M | CN¥261M | CN¥228M | CN¥198M | CN¥155M |
| Free cash flow | CN¥112M | CN¥12.3M | CN¥44.8M | -CN¥44.5M | -CN¥27.7M |
| Capital expenditure | CN¥177M | CN¥212M | CN¥113M | CN¥198M | CN¥84.3M |
| Total debt | CN¥0 | CN¥24.0M | CN¥79.4M | CN¥229M | CN¥308M |
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| Measure | 603312.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.1% | -6.2% | 7th highest of 21 |
| 6-month return | -17.9% | -14.1% | 8th lowest of 20 |
| Distance from 52-week high | -50.0% | -31.5% | 4th lowest of 21 |
| Revenue growth (TTM) | -8.5% | +12.1% | 4th lowest of 21 |
| Operating margin | 9.4% | 8.6% | 9th highest of 21 |
| Forward P/E | 20.2× | 13.9× | 2nd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 7.1% | -0.2% | 5th most demanding of 12 |
| Growth delivered (Del g) | +62.0% | +6.3% | highest of 12 |
| Hurdle (Req g minus delivered) | -54.9 pp | -6.3 pp | least demanding of 12 |
| ROIC minus cost of capital | +7.9 pp | -0.9 pp | 6th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzhou West Deane New Power Electric 603312.SS | China | $750M | -18% | -8% | 9% | 20.2× | 7.1% | +62.0% |
| Hj Shipbuilding & Construction 097230.KS | South Korea | $752M | -61% | +27% | 6% | 5.7× | n/a | n/a |
| Hibiya Engineering,Ltd 1982.T | Japan | $753M | -8% | +2% | 12% | 11.4× | -3.4% | +5.2% |
| ISGEC Heavy Engineering ISGEC.NS | India | $746M | -11% | +21% | 6% | n/a | 22.1% | +5.0% |
| Bowman Consulting BWMN | United States | $745M | -19% | +14% | 5% | 18.8× | 30.3% | +32.1% |
| Southern Cross Electrical Engineering SXE.AX | Australia | $755M | -14% | -10% | 9% | 16.9× | -4.8% | +14.2% |
| Shinnihon 1879.T | Japan | $759M | +6% | +7% | 14% | n/a | -21.3% | +6.3% |
| Shanghai Pudong Construction 600284.SS | China | $739M | -28% | -17% | 1% | n/a | n/a | n/a |
| Power Mech Projects POWERMECH.NS | India | $761M | -12% | +16% | 10% | 16.1× | n/a | n/a |
| GMR Power and Urban Infra GMRP&UI.NS | India | $763M | -17% | +4% | 14% | 14.6× | n/a | n/a |
| FDC Consolidated FDC.AX | Australia | $763M | n/a | +13% | -1% | 13.9× | -6.2% | +12.9% |
| Ceigall India CEIGALL.NS | India | $708M | +5% | +20% | 13% | 18.5× | n/a | n/a |
| Shanghai CDXJ Digital Technology 603887.SS | China | $705M | -49% | +79% | 3% | n/a | n/a | n/a |
| Anhui Orivie Technology 300692.SZ | China | $702M | -7% | -6% | 21% | n/a | 10.9% | +0.1% |
| United Testing Inspection And Certification Technology 301115.SZ | China | $702M | +22% | +5% | -1% | 135.5× | n/a | n/a |
| G R Infraprojects GRINFRA.NS | India | $803M | -21% | +25% | 16% | 8.9× | n/a | n/a |
| Shenzhen Investment Holdings Bay Area Development 0737.HK | Hong Kong | $803M | -4% | +11% | 30% | 8.9× | 14.6% | -2.4% |
| Shin Nippon Air Technologies 1952.T | Japan | $803M | -25% | +11% | 9% | 8.7× | 1.3% | +7.6% |
| Zhejiang Yasha Decoration 002375.SZ | China | $695M | -16% | -25% | 6% | n/a | -0.2% | -3.3% |
| Da-Cin Construction 2535.TW | Taiwan | $693M | +23% | +36% | 8% | n/a | -10.6% | +7.9% |
| Cardinal Infrastructure CDNL | United States | $691M | -73% | +90% | 8% | 6.8× | n/a | n/a |