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Chinese maker of copper alloys, copper-chromium electrical contacts for switchgear, and parts for medical imaging and rocket engines.
Chinese maker of copper alloys, copper-chromium electrical contacts for switchgear, and parts for medical imaging and rocket engines.
Sells copper-based materials and parts to equipment makers; the copper-chromium contacts inside high-voltage switches are the traditional anchor, supplied to global switchgear groups. Newer lines such as rocket-engine liners, X-ray tube parts and optical-module bases extend the same copper expertise into space, medical imaging and data-centre hardware.
Moat: narrow (process know-how, customer qualification). Copper-chromium contact process know-how, qualified by global switchgear makers.
Headquarters: Xi'an, China · Founded: 1995 · Employees: 1,294
Size Shaanxi Sirui Advanced Materials (688102.SS) is a China Industrials company (Metal Fabrication) with a market value of $2.99B, the 860th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥25.56 on 6 Nov 2026.
Performance Over six months the shares fell 38.8%, against -11.7% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 19 in its peer set.
Growth Revenue grew 38.0% over the last twelve months (peer median +19.2%); the operating margin is 10.7% (peer median 9.1%).
Valuation It trades at 96.5× forward earnings against a peer median of 27.7× (3rd most expensive of 19).
Capital Return on invested capital runs 3.2 points below its cost of capital (11.7% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.12B | CN¥1.57B | CN¥1.33B | CN¥1.18B | CN¥991M |
| Revenue growth | — | +18% | +13% | +19% | — |
| Gross profit | CN¥567M | CN¥354M | CN¥281M | CN¥231M | CN¥172M |
| EBITDA | n/a | CN¥256M | CN¥214M | CN¥163M | CN¥103M |
| Net income | CN¥187M | CN¥148M | CN¥114M | CN¥98.3M | CN¥78.0M |
| Free cash flow | -CN¥330M | -CN¥158M | -CN¥226M | -CN¥28.9M | -CN¥112M |
| Capital expenditure | CN¥412M | CN¥305M | CN¥395M | CN¥198M | CN¥164M |
| Total debt | CN¥1.07B | CN¥853M | CN¥739M | CN¥413M | CN¥309M |
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| Measure | 688102.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.1% | -4.8% | 8th lowest of 20 |
| 6-month return | -38.8% | -11.7% | 4th lowest of 19 |
| Distance from 52-week high | -54.5% | -44.5% | 5th lowest of 20 |
| Revenue growth (TTM) | +38.0% | +19.2% | 6th highest of 21 |
| Operating margin | 10.7% | 9.1% | 8th highest of 21 |
| Forward P/E | 96.5× | 27.7× | 3rd most expensive of 19 |
| ROIC minus cost of capital | -3.2 pp | +0.3 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shaanxi Sirui Advanced Materials 688102.SS | China | $2.99B | -39% | +38% | 11% | 96.5× | n/a | n/a |
| Zhejiang XCC 603667.SS | China | $2.99B | -20% | -15% | 2% | 91.0× | 47.9% | +13.9% |
| Zetwerk Manufacturing Businesses ZETWERK.NS | India | $2.96B | n/a | +40% | 1% | n/a | n/a | n/a |
| Avic Heavy Machinery 600765.SS | China | $2.84B | -23% | -13% | 4% | 23.1× | n/a | n/a |
| Tolerance Technology (Jiangsu) 301583.SZ | China | $2.82B | n/a | +18% | 15% | n/a | n/a | n/a |
| Sinomach Precision Industry 002046.SZ | China | $3.47B | -17% | -1% | 4% | 75.7× | n/a | n/a |
| Jyoti Cnc Automation JYOTICNC.NS | India | $2.45B | +32% | +18% | 21% | 53.8× | n/a | n/a |
| Endurance Technologies ENDURANCE.NS | India | $3.71B | -1% | +32% | 8% | 32.3× | 29.9% | +17.6% |
| Bossard BOSN.SW | Switzerland | $2.42B | +55% | +7% | 11% | 20.1× | 5.9% | +5.6% |
| Shyam Metalics & Energy SHYAMMETL.NS | India | $3.84B | +47% | +26% | 9% | 19.3× | n/a | n/a |
| Maruichi Steel Tube 5463.T | Japan | $2.32B | +5% | -2% | 14% | 11.9× | -2.7% | +8.6% |
| Taihan Cable & Solution 001440.KS | South Korea | $2.31B | -70% | +22% | 5% | 99.2× | n/a | n/a |
| Anhui Honglu Steel Construction (Group) 002541.SZ | China | $2.30B | +4% | +12% | 5% | 16.0× | 3.8% | +10.4% |
| Zhejiang Changsheng Sliding Bearings 300718.SZ | China | $2.25B | -29% | +20% | 21% | 47.3× | 16.5% | +14.1% |
| PTC Industries PTCIL.NS | India | $4.09B | +45% | +95% | 19% | 174.5× | n/a | n/a |
| Hengdian Group DMEGC Magnetics 002056.SZ | China | $4.16B | -9% | +3% | 7% | 14.5× | n/a | n/a |
| Lizhong Sitong Light Alloys 300428.SZ | China | $2.14B | -3% | +24% | 4% | 11.8× | n/a | n/a |
| NBTM New Materials 600114.SS | China | $2.14B | -40% | +6% | 9% | 22.8× | 13.8% | +13.0% |
| POCO 300811.SZ | China | $4.24B | -15% | +48% | 24% | 38.4× | n/a | n/a |
| JL Mag Rare-Earth 300748.SZ | China | $4.54B | -27% | +39% | 11% | 33.1× | 22.1% | +26.1% |
| Hebei Huatong Wires and Cables 605196.SS | China | $1.94B | -41% | +49% | 10% | 13.4× | n/a | n/a |