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Chinese maker of aerial work platforms — scissor and boom lifts used in construction and maintenance.
Chinese maker of aerial work platforms — scissor and boom lifts used in construction and maintenance.
Sells aerial work platforms mainly to equipment-rental companies, which buy fleets in batches, so orders follow rental firms' capital spending and fleet replacement. A large share comes from exports, which is why it is more exposed to foreign rental cycles than to Chinese construction.
In one line: China's Terex/JLG for aerial lifts.
Moat: narrow (cost advantage, scale). Low-cost Chinese manufacturing undercuts Western AWP makers while expanding overseas distribution.
Headquarters: Deqing, Zhejiang, China · Founded: 1999 · Employees: 2,592
Size Zhejiang Dingli Machinery (603338.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $4.57B, the 556th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥60.13 on 6 Nov 2026.
Performance Over six months the shares gained 9.1%, against -13.3% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 28.6% over the last twelve months (peer median +6.5%); the operating margin is 22.0% (peer median 6.4%).
Valuation It trades at 14.8× forward earnings against a peer median of 16.1× (9th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.9 points above its cost of capital (7.5% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.7B | CN¥8.53B | CN¥7.75B | CN¥6.29B | CN¥5.44B |
| Revenue growth | — | +10% | +23% | +16% | — |
| Gross profit | CN¥3.41B | CN¥2.83B | CN¥2.62B | CN¥2.36B | CN¥1.64B |
| EBITDA | n/a | CN¥2.20B | CN¥2.18B | CN¥1.93B | CN¥1.28B |
| Net income | CN¥1.89B | CN¥1.90B | CN¥1.63B | CN¥1.87B | CN¥1.26B |
| Free cash flow | CN¥1.30B | CN¥655M | CN¥1.56B | CN¥1.86B | CN¥127M |
| Capital expenditure | CN¥652M | CN¥662M | CN¥356M | CN¥371M | CN¥820M |
| Total debt | CN¥3.53B | CN¥3.20B | CN¥2.66B | CN¥2.68B | CN¥2.62B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Dingli Machinery 603338.SS | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% |
| Oshkosh OSK | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% |
| Terex TEX | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% |
| XCMG Construction Machinery 000425.SZ | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% |
| Changzheng Engineering Technology 603698.SS | $1.51B | -57% | -4% | 7% | 33.0× | 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 | 603338.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.1% | -3.5% | highest of 21 |
| 6-month return | +9.1% | -13.3% | 2nd highest of 21 |
| Distance from 52-week high | -6.9% | -32.3% | 2nd highest of 21 |
| Revenue growth (TTM) | +28.6% | +6.5% | 2nd highest of 21 |
| Operating margin | 22.0% | 6.4% | highest of 21 |
| Forward P/E | 14.8× | 16.1× | 9th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 1.6% | 1.9% | 9th least demanding of 18 |
| Growth delivered (Del g) | +23.7% | +11.6% | 2nd highest of 18 |
| Hurdle (Req g minus delivered) | -22.1 pp | -5.4 pp | 4th least demanding of 18 |
| ROIC minus cost of capital | +10.9 pp | -1.7 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| CSSC Offshore & Marine Engineering (Group) 600685.SS | China | $4.16B | -19% | +5% | 1% | 23.9× | 1.1% | +12.1% |
| Bucher Industries BUCN.SW | Switzerland | $3.93B | +4% | -4% | 7% | 19.1× | -2.9% | +1.2% |
| Stadler Rail SRAIL.SW | Switzerland | $3.84B | +38% | +26% | 5% | 19.8× | 0.2% | +3.6% |
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Doosan Bobcat 241560.KS | South Korea | $3.64B | -28% | +11% | 9% | 9.0× | -13.3% | +15.5% |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| Hiab HIAB.HE | Finland | $3.52B | -5% | +6% | 12% | 16.9× | 15.5% | -13.7% |
| Cochin Shipyard COCHINSHIP.NS | India | $3.40B | -33% | -1% | 13% | 34.3× | n/a | n/a |
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Tiandi Science & Technology 600582.SS | China | $3.30B | -6% | -6% | 4% | 10.4× | n/a | n/a |
| China Railway Construction Heavy Industry 688425.SS | China | $3.29B | -13% | -1% | 12% | 12.4× | 1.9% | +5.7% |
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| CITIC Heavy Industries 601608.SS | China | $3.15B | -24% | +5% | 4% | 45.9× | 14.5% | +5.1% |
| Modec 6269.T | Japan | $3.03B | -46% | +17% | 9% | 7.7× | -21.3% | +18.6% |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |