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Employees: 706
Size Xi'an High Voltage Apparatus Research Institute (688334.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $889M, the 2541st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.72 on 6 Nov 2026.
Performance Over six months the shares fell 10.3%, against -2.3% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +3.3%); the operating margin is 29.5% (peer median 10.2%).
Valuation It trades at 21.3× forward earnings against a peer median of 19.6× (8th most expensive of 18).
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 +20%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.8 points above its cost of capital (6.9% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥912M | CN¥865M | CN¥797M | CN¥754M | CN¥520M |
| Revenue growth | — | +9% | +6% | +45% | — |
| Gross profit | CN¥563M | CN¥444M | CN¥397M | CN¥338M | CN¥231M |
| EBITDA | n/a | CN¥396M | CN¥347M | CN¥294M | CN¥221M |
| Net income | CN¥272M | CN¥249M | CN¥229M | CN¥189M | CN¥130M |
| Free cash flow | CN¥510M | CN¥379M | CN¥391M | CN¥231M | CN¥118M |
| Capital expenditure | CN¥107M | CN¥132M | CN¥143M | CN¥83.9M | CN¥79.1M |
| Total debt | CN¥111M | CN¥49.2M | CN¥20.5M | CN¥30.9M | CN¥14.8M |
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.
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 | 688334.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | -1.9% | 6th highest of 21 |
| 6-month return | -10.3% | -2.3% | 9th lowest of 21 |
| Distance from 52-week high | -34.8% | -33.9% | 10th lowest of 21 |
| Revenue growth (TTM) | +4.2% | +3.3% | 10th highest of 21 |
| Operating margin | 29.5% | 10.2% | 4th highest of 21 |
| Forward P/E | 21.3× | 19.6× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | 6.7% | 5th least demanding of 16 |
| Growth delivered (Del g) | +20.3% | +14.5% | 4th highest of 16 |
| Hurdle (Req g minus delivered) | -22.6 pp | -12.3 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +10.8 pp | +2.7 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xi'an High Voltage Apparatus Research Institute 688334.SS | China | $889M | -10% | +4% | 29% | 21.3× | -2.4% | +20.3% |
| Zhejiang Meorient Commerce & Exhibition 300795.SZ | China | $890M | -1% | -3% | 18% | 29.6× | n/a | n/a |
| IP Group plc IPO.L | United Kingdom | $879M | +13% | -37% | 51% | 11.9× | n/a | n/a |
| Aimed Bio 0009K0.KS | South Korea | $875M | -61% | +223% | 36% | n/a | 13.2% | +652.2% |
| Embedway Technologies (Shanghai) 603496.SS | China | $910M | -37% | +4% | 1% | 137.0× | 54.3% | +14.5% |
| DOOSAN TESNA 131970.KS | South Korea | $861M | -53% | +3% | 11% | 36.9× | 17.8% | +18.1% |
| NOMURA 9716.T | Japan | $861M | +4% | -10% | 7% | 14.1× | -8.4% | +8.6% |
| Funshine Culture 300860.SZ | China | $858M | +21% | -49% | -35% | 28.1× | 27.8% | -24.6% |
| Shaanxi Fenghuo Electronics 000561.SZ | China | $929M | -24% | +8% | -26% | n/a | n/a | n/a |
| Wavestone WAVE.PA | France | $931M | -22% | +1% | 12% | 10.0× | -5.3% | +18.0% |
| W.A.G. Payment Solutions EWG.L | United Kingdom | $935M | -4% | +16% | 3% | 17.5× | -1.7% | +12.2% |
| Service Stream SSM.AX | Australia | $943M | +7% | +1% | 3% | 17.6× | 11.7% | +24.0% |
| B2 Impact B2I.OL | Norway | $947M | +1% | +9% | 48% | 10.2× | -8.3% | +3.1% |
| TaskUs TASK | United States | $833M | +41% | +11% | 12% | 6.5× | 0.5% | +19.9% |
| Anbang Save-Guard 603373.SS | China | $830M | +30% | -1% | 14% | 41.5× | 6.7% | +5.6% |
| Karnov KAR.ST | Sweden | $828M | +16% | -4% | 20% | 20.2× | 4.1% | +27.9% |
| PharmaResources (Shanghai) 301230.SZ | China | $822M | -4% | +9% | 0% | 90.5× | 42.7% | +19.5% |
| Cuscal CCL.AX | Australia | $815M | +26% | +19% | 12% | 19.6× | n/a | n/a |
| Beyondsoft 002649.SZ | China | $813M | -12% | -6% | 2% | 25.5× | 8.3% | +9.2% |
| Omat Advanced Materials (Guangdong) 688530.SS | China | $809M | -16% | +82% | 9% | n/a | n/a | n/a |
| transcosmos 9715.T | Japan | $802M | -12% | +6% | 4% | 9.6× | -18.5% | +3.2% |