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China's dominant supplier of rail signaling, train-control and communication systems for railways and metros.
China's dominant supplier of rail signaling, train-control and communication systems for railways and metros.
Is paid by contract for designing and installing signalling on each new rail or metro line, and then for upgrading and maintaining it, so revenue follows national railway investment and metro openings. The state-owned China Railway Signal & Communication Group controls it, and the national railway operator is the main buyer.
In one line: China's Alstom/Siemens Mobility for rail signaling.
Moat: wide (scale, regulatory licence, installed base). Near-monopoly signaling supplier for China's rail network; safety-critical systems make switching very costly.
Headquarters: Beijing, China · Founded: 2015 · Employees: 19,199
Size China Railway Signal & Communication (688009.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $7.39B, the 332nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.13 on 6 Nov 2026.
Performance Over six months the shares was unchanged, against -25.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 19 in its peer set.
Growth Revenue grew 1.2% over the last twelve months (peer median +16.2%); the operating margin is 11.9% (peer median 17.4%).
Valuation It trades at 14.9× forward earnings against a peer median of 25.0× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥34.0B | CN¥34.5B | CN¥32.5B | CN¥37.0B | CN¥40.1B |
| Revenue growth | — | +6% | -12% | -8% | — |
| Gross profit | CN¥10.2B | CN¥9.42B | CN¥9.06B | CN¥9.04B | CN¥9.03B |
| EBITDA | n/a | CN¥5.09B | CN¥4.83B | CN¥5.18B | CN¥4.93B |
| Net income | CN¥3.42B | CN¥3.69B | CN¥3.49B | CN¥3.48B | CN¥3.63B |
| Free cash flow | CN¥1.95B | -CN¥1.79B | CN¥4.52B | CN¥1.45B | CN¥1.58B |
| Capital expenditure | CN¥775M | CN¥770M | CN¥859M | CN¥681M | CN¥708M |
| Total debt | CN¥13.5B | CN¥12.4B | CN¥7.98B | CN¥10.1B | CN¥9.93B |
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 |
|---|---|---|---|---|---|---|
| China Railway Signal & Communication 688009.SS | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% |
| Alstom ALO.PA | $5.56B | -40% | +4% | 4% | n/a | 2.7% |
| Thales HO.PA | $51.1B | -1% | +7% | 11% | 20.6× | -2.8% |
| Wabtec WAB | $47.6B | +7% | +13% | 18% | 23.8× | 17.0% |
| Traffic Control Technology 688015.SS | $383M | -37% | +10% | 7% | 18.8× | -3.9% |
| CRRC 601766.SS | $27.0B | +10% | +2% | 6% | 13.0× | -6.4% |
| Nippon Signal 6741.T | $645M | -3% | +10% | 11% | 8.8× | -7.9% |
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 | 688009.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.9% | -12.4% | 2nd highest of 21 |
| 6-month return | 0.0% | -25.2% | 4th highest of 19 |
| Distance from 52-week high | -19.5% | -44.5% | 2nd highest of 21 |
| Revenue growth (TTM) | +1.2% | +16.2% | 7th lowest of 20 |
| Operating margin | 11.9% | 17.4% | 7th lowest of 20 |
| Forward P/E | 14.9× | 25.0× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -6.3% | 20.7% | least demanding of 15 |
| Growth delivered (Del g) | -2.9% | +13.9% | lowest of 15 |
| Hurdle (Req g minus delivered) | -3.4 pp | +6.3 pp | 4th least demanding of 15 |
| ROIC minus cost of capital | +2.5 pp | +2.6 pp | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 37.4× | n/a | n/a |
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 33.9× | 33.5% | +10.7% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 32.8× | 19.7% | +8.4% |
| Itron ITRI | United States | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% | +1.7% |
| CIQTEK 688828.SS | China | $4.17B | n/a | +33% | -5% | n/a | n/a | n/a |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| Shenzhen SEICHI Technologies 688627.SS | China | $3.37B | -24% | +65% | 3% | 89.1× | n/a | n/a |
| GRG Banking Equipment 002152.SZ | China | $3.26B | -25% | 0% | 9% | 23.0× | 4.0% | +13.5% |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| Syntec Technology 7750.TW | Taiwan | $3.15B | -46% | +60% | 25% | 13.2× | 17.2% | +24.3% |
| Addsino 000547.SZ | China | $3.02B | -49% | -6% | -54% | n/a | n/a | n/a |
| Shanghai Lingang 600848.SS | China | $3.00B | -9% | -26% | 15% | 19.4× | 12.9% | +15.1% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |