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Chinese maker of industrial conveyor and transmission belting used in manufacturing and material-handling systems.
Chinese maker of industrial conveyor and transmission belting used in manufacturing and material-handling systems.
Sells belting made to the specifications of equipment makers and factories, so orders follow investment in production lines and warehouses. Belts wear out and need replacing, which gives a steady stream of repeat orders from existing users, while pricing depends on rubber and fabric costs.
Moat: none. Commodity industrial belting with limited differentiation versus global rubber/belt makers.
Headquarters: Shanghai, China · Employees: 419
Size AA Industrial Belting (Shanghai) (603580.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.12B, the 2087th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥56.95 on 6 Nov 2026.
Performance Over six months the shares gained 193.2%, against -24.8% for the median peer and -16.4% for the China market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 98.5% over the last twelve months (peer median +12.1%); the operating margin is -0.1% (peer median 5.9%).
Valuation It trades at 16.7× enterprise value to sales against a peer median of 3.4× (2nd most expensive of 20).
Capital Return on invested capital runs 2.7 points below its cost of capital (5.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥457M | CN¥329M | CN¥167M | CN¥152M | CN¥174M |
| Revenue growth | — | +97% | +10% | -13% | — |
| Gross profit | CN¥120M | CN¥76.3M | CN¥46.1M | CN¥39.1M | CN¥40.6M |
| EBITDA | n/a | CN¥46.9M | CN¥28.0M | CN¥22.1M | CN¥13.7M |
| Net income | CN¥37.7M | CN¥43.8M | -CN¥8.85M | CN¥2.34M | -CN¥2.80M |
| Free cash flow | -CN¥51.5M | -CN¥71.4M | CN¥13.1M | -CN¥9.55M | -CN¥27.9M |
| Capital expenditure | CN¥11.4M | CN¥18.5M | CN¥15.6M | CN¥39.8M | CN¥60.7M |
| Total debt | CN¥196M | CN¥199M | CN¥26.8M | CN¥27.5M | CN¥24.4M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| AA Industrial Belting (Shanghai) 603580.SS | $1.12B | +193% | +98% | 0% | 16.7× | n/a |
| Gates Industrial GTES | $6.05B | -8% | +4% | 16% | 2.2× | 9.7% |
| Continental CON.DE | $15.8B | +2% | -35% | n/a | 0.9× | -0.2% |
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 | 603580.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.6% | -13.6% | 7th lowest of 21 |
| 6-month return | +193.2% | -24.8% | highest of 20 |
| Distance from 52-week high | -35.7% | -44.1% | 3rd highest of 21 |
| Revenue growth (TTM) | +98.5% | +12.1% | 2nd highest of 20 |
| Operating margin | -0.1% | 5.9% | 5th lowest of 20 |
| EV / Sales | 16.7× | 3.4× | 2nd most expensive of 20 |
| ROIC minus cost of capital | -2.7 pp | -2.5 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AA Industrial Belting (Shanghai) 603580.SS | China | $1.12B | +193% | +98% | 0% | 16.7× | n/a | n/a |
| Nanfang Pump Industry 300145.SZ | China | $1.12B | -19% | +9% | 4% | 1.5× | 12.7% | +4.6% |
| Neway CNC Equipment (Suzhou) 688697.SS | China | $1.11B | -7% | +31% | 10% | 2.3× | 19.5% | +19.9% |
| Zhejiang Dayuan Pumps Industry 603757.SS | China | $1.12B | -19% | -8% | 3% | 3.7× | 45.8% | +6.5% |
| Gudeng Precision Industrial 3680.TWO | Taiwan | $1.11B | -34% | +19% | 15% | 5.1× | n/a | n/a |
| Hunan Meihu Intelligent Manufacturing 603319.SS | China | $1.13B | -42% | +13% | 3% | 3.4× | n/a | n/a |
| Tanac Automation 300461.SZ | China | $1.11B | -18% | +126% | 6% | 18.2× | n/a | n/a |
| Guangzhou Risong Intelligent Technology 688090.SS | China | $1.10B | -19% | +61% | 4% | 5.5× | 43.8% | +3.4% |
| Jingjin Equipment 603279.SS | China | $1.13B | -28% | +6% | 9% | 1.0× | -8.4% | +11.9% |
| PNC Process Systems 603690.SS | China | $1.10B | -23% | -36% | -48% | 5.8× | 32.9% | +15.4% |
| Longhua Technology Group (Luoyang) Co 300263.SZ | China | $1.10B | -29% | +12% | 5% | 2.5× | 28.8% | +11.1% |
| Lanzhou LS Heavy Equipment 603169.SS | China | $1.09B | -34% | -29% | -19% | 2.5× | n/a | n/a |
| Jiangsu Rongtai Industry 605133.SS | China | $1.15B | -17% | +51% | 6% | 2.1× | n/a | n/a |
| Sunonwealth Electric Machine Industry 2421.TW | Taiwan | $1.08B | -16% | +21% | 16% | 1.5× | -2.5% | +7.9% |
| Linco Technology 3644.TWO | Taiwan | $1.08B | n/a | n/a | n/a | n/a | n/a | n/a |
| YAPP Automotive Systems 603013.SS | China | $1.16B | -25% | -1% | 7% | 0.8× | -9.1% | +0.7% |
| MACHVISION 3563.TW | Taiwan | $1.08B | -36% | +17% | 37% | 8.7× | 7.5% | +5.9% |
| KSB KSB.NS | India | $1.16B | -30% | +8% | 10% | 3.8× | 35.3% | +17.5% |
| Shenzhen Xinyichang Technology 688383.SS | China | $1.16B | -25% | +34% | -9% | 8.6× | n/a | n/a |
| Shanghai Step Electric 002527.SZ | China | $1.16B | -21% | 0% | -2% | 2.3× | n/a | n/a |
| Jiangsu Bide Science & Technology 605298.SS | China | $1.16B | -30% | -4% | 15% | 13.8× | 40.4% | +10.1% |