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Maker of rail traction electric drive systems and power semiconductors (IGBT) for locomotives, part of the CRRC rail group.
Maker of rail traction electric drive systems and power semiconductors (IGBT) for locomotives, part of the CRRC rail group.
Most revenue comes from rail equipment ordered alongside new trains and line openings, with power semiconductors a newer line selling to makers of electric vehicles, wind and grid equipment. It sits within the CRRC group, which also builds the trains it supplies. The same company trades in Hong Kong as 3898.
In one line: China's a rail-traction equivalent of ABB/Mitsubishi Electric.
Moat: narrow (customer qualification, IP / patents, installed base). Deep CRRC group ties and IGBT self-sufficiency reduce reliance on foreign power-semiconductor suppliers.
Headquarters: Zhuzhou, China · Founded: 2009 · Employees: 10,746
Size Zhuzhou CRRC Times Electric (688187.SS) is a China Industrials company (Electrical Products) with a market value of $7.80B, the 319th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥47.20 on 6 Nov 2026.
Performance Over six months the shares fell 2.5%, against -32.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 11.7% over the last twelve months (peer median +28.1%); the operating margin is 14.2% (peer median 10.0%).
Valuation It trades at 14.6× forward earnings against a peer median of 22.2× (9th cheapest of 20).
Capital Return on invested capital runs 0.5 points above its cost of capital (7.8% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥30.7B | CN¥28.6B | CN¥24.8B | CN¥21.9B | CN¥18.0B |
| Revenue growth | — | +15% | +13% | +22% | — |
| Gross profit | CN¥11.2B | CN¥8.99B | CN¥7.52B | CN¥5.82B | CN¥5.51B |
| EBITDA | n/a | CN¥5.75B | CN¥4.42B | CN¥3.24B | CN¥3.01B |
| Net income | CN¥4.18B | CN¥4.10B | CN¥3.70B | CN¥3.04B | CN¥2.56B |
| Free cash flow | -CN¥932M | CN¥286M | CN¥147M | -CN¥16.1M | CN¥1.40B |
| Capital expenditure | CN¥2.80B | CN¥4.01B | CN¥3.45B | CN¥2.98B | CN¥953M |
| Total debt | CN¥5.59B | CN¥9.23B | CN¥6.85B | CN¥5.73B | CN¥3.34B |
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 |
|---|---|---|---|---|---|---|
| Zhuzhou CRRC Times Electric 688187.SS | $7.80B | -3% | +12% | 14% | 14.6× | n/a |
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
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 | 688187.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.9% | -6.2% | 3rd highest of 21 |
| 6-month return | -2.5% | -32.2% | 4th highest of 20 |
| Distance from 52-week high | -31.9% | -45.9% | 6th highest of 21 |
| Revenue growth (TTM) | +11.7% | +28.1% | 7th lowest of 21 |
| Operating margin | 14.2% | 10.0% | 7th highest of 21 |
| Forward P/E | 14.6× | 22.2× | 9th cheapest of 20 |
| ROIC minus cost of capital | +0.5 pp | +1.1 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhuzhou CRRC Times Electric 688187.SS | China | $7.80B | -3% | +12% | 14% | 14.6× | n/a | n/a |
| Hongfa Technology 600885.SS | China | $7.81B | +8% | +34% | 14% | 22.9× | 9.0% | +17.2% |
| Zhejiang Chint Electrics 601877.SS | China | $7.97B | -24% | +4% | 14% | 10.1× | -8.3% | +12.1% |
| Bizlink 3665.TW | Taiwan | $8.00B | -54% | +33% | 17% | 14.2× | 5.3% | +25.9% |
| Havells India HAVELLS.NS | India | $7.47B | -11% | +16% | 7% | 44.0× | 39.8% | +16.6% |
| Shenzhen Kedali Industry 002850.SZ | China | $7.46B | -9% | +40% | 12% | 22.2× | n/a | n/a |
| Ngk 5333.T | Japan | $7.43B | -13% | +10% | 16% | 13.1× | 4.4% | +8.2% |
| Sigenergy Technology 6656.HK | Hong Kong | $8.31B | -51% | +577% | 36% | 11.0× | n/a | n/a |
| Goldenmax International 002636.SZ | China | $7.20B | +47% | +79% | 30% | n/a | 24.4% | +4.4% |
| China XD Electric 601179.SS | China | $8.51B | -35% | +7% | 8% | 36.0× | n/a | n/a |
| SUPCON Technology 688777.SS | China | $8.58B | -9% | -6% | -3% | 116.4× | n/a | n/a |
| Goldwind Science & Technology 2208.HK | Hong Kong | $8.58B | -57% | +24% | 6% | 7.2× | n/a | n/a |
| Anji Microelectronics Technology (Shanghai) 688019.SS | China | $7.05B | +7% | +35% | 32% | 31.6× | 28.1% | +42.8% |
| Anker Innovations Technology 0668.HK | Hong Kong | $8.68B | n/a | +28% | 11% | 14.8× | 22.2% | +25.8% |
| Furukawa Electric 5801.T | Japan | $8.75B | -54% | +13% | 6% | 11.9× | n/a | n/a |
| Shanghai Putailai New Energy Technology 603659.SS | China | $6.87B | -41% | +44% | 14% | 14.2× | n/a | n/a |
| Nkt A/s NKT.CO | Denmark | $6.73B | -15% | +2% | 7% | 26.4× | n/a | n/a |
| Shenzhen Megmeet Electrical 002851.SZ | China | $6.55B | -38% | +29% | 1% | 60.9× | n/a | n/a |
| Ecopro BM 247540.KS | South Korea | $6.53B | -60% | -4% | 6% | 965.8× | n/a | n/a |
| Hunan Yuneng New Energy Battery Material 301358.SZ | China | $6.46B | -50% | +130% | 9% | 7.8× | n/a | n/a |
| Gotion High-tech 002074.SZ | China | $6.45B | -32% | +54% | 3% | 25.6× | n/a | n/a |