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AVIC materials subsidiary making titanium-alloy castings, high-temperature superalloys and aircraft cockpit windshields/transparencies.
AVIC materials subsidiary making titanium-alloy castings, high-temperature superalloys and aircraft cockpit windshields/transparencies.
Sells materials to Chinese aircraft makers on programme orders qualified by the state, so revenue follows military and civil aircraft production plans and delivery timing. Its parent is a research institute of AVIC, the state aerospace group, which links it closely to the buyers.
In one line: A Chinese aerospace-materials maker, akin to a state-owned Precision Castparts.
Moat: wide (IP / patents, regulatory licence, customer qualification). Subsidiary of AVIC's Beijing Institute of Aeronautical Materials, a near-sole qualified domestic supplier for these aerospace materials.
Headquarters: Beijing, China · Founded: 2000 · Employees: 1,109
Size Baimtec Material (688563.SS) is a China Industrials company (Aerospace & Defense) with a market value of $3.53B, the 732nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥50.46 on 6 Nov 2026.
Performance Over six months the shares fell 12.1%, against -16.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 0.9% over the last twelve months (peer median +1.9%); the operating margin is 15.1% (peer median 1.2%).
Valuation It trades at 38.2× forward earnings against a peer median of 45.7× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.6 points below its cost of capital (7.2% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.75B | CN¥2.85B | CN¥2.92B | CN¥2.80B | CN¥2.34B |
| Revenue growth | — | -3% | +5% | +20% | — |
| Gross profit | CN¥841M | CN¥849M | CN¥864M | CN¥866M | CN¥782M |
| EBITDA | n/a | CN¥636M | CN¥647M | CN¥685M | CN¥561M |
| Net income | CN¥446M | CN¥536M | CN¥588M | CN¥576M | CN¥442M |
| Free cash flow | CN¥95.9M | CN¥194M | CN¥36.8M | CN¥77.3M | -CN¥18.7M |
| Capital expenditure | CN¥201M | CN¥349M | CN¥158M | CN¥188M | CN¥190M |
| Total debt | CN¥472M | CN¥734M | CN¥647M | CN¥943M | CN¥618M |
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 |
|---|---|---|---|---|---|---|
| Baimtec Material 688563.SS | $3.53B | -12% | -1% | 15% | 38.2× | 22.7% |
| Howmet Aerospace HWM | $81.8B | -24% | +22% | 28% | 32.6× | 24.1% |
| Anhui Yingliu Electromechanical 603308.SS | $3.50B | -58% | +38% | 13% | 42.0× | n/a |
| Gaona Aero Material 300034.SZ | $1.71B | -29% | +5% | 5% | 49.0× | 21.3% |
| Western Superconducting Technologies 688122.SS | $4.21B | -33% | -5% | 8% | 43.2× | 29.3% |
| Baoji Titanium Industry 600456.SS | $1.76B | -26% | +14% | 7% | 26.4× | n/a |
| Carpenter Technology CRS | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% |
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 | 688563.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.0% | -0.2% | 7th highest of 21 |
| 6-month return | -12.1% | -16.5% | 8th highest of 21 |
| Distance from 52-week high | -36.0% | -40.0% | 8th highest of 21 |
| Revenue growth (TTM) | -0.9% | +1.9% | 9th lowest of 20 |
| Operating margin | 15.1% | 1.2% | 2nd highest of 21 |
| Forward P/E | 38.2× | 45.7× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 22.7% | 26.4% | 6th least demanding of 13 |
| Growth delivered (Del g) | +14.4% | +7.7% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | +8.3 pp | +11.7 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | -0.6 pp | -5.4 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Baimtec Material 688563.SS | China | $3.53B | -12% | -1% | 15% | 38.2× | 22.7% | +14.4% |
| Avicopter 600038.SS | China | $3.54B | -8% | -6% | 1% | 33.9× | 9.1% | +8.1% |
| QinetiQ QQ..L | United Kingdom | $3.51B | +26% | 0% | 10% | 15.3× | 0.1% | +8.5% |
| Firefly Aerospace FLY | United States | $3.48B | -48% | +179% | -116% | n/a | n/a | n/a |
| Archer Aviation ACHR | United States | $3.42B | -31% | n/a | -13,570% | n/a | n/a | n/a |
| AECC Aero-engine Control 000738.SZ | China | $3.66B | -10% | -3% | 3% | 64.0× | n/a | n/a |
| Jiangxi Hongdu Aviation Industry 600316.SS | China | $3.77B | -4% | +62% | 0% | 121.0× | 53.4% | +8.0% |
| Lisi FII.PA | France | $3.27B | 0% | -8% | 10% | 22.5× | 20.4% | +7.3% |
| RENK R3NK.DE | Germany | $3.84B | -24% | +11% | 13% | 21.1× | 29.8% | +54.5% |
| Inner Mongolia First Machinery 600967.SS | China | $3.22B | -10% | -7% | 0% | 26.0× | 38.2% | -5.4% |
| Anhui GreatWall Military Industry 601606.SS | China | $3.20B | -22% | -10% | -7% | n/a | n/a | n/a |
| Avic (Chengdu) UAS 688297.SS | China | $3.93B | -15% | +74% | 0% | 106.5× | n/a | n/a |
| AviChina Industry & Technology 2357.HK | Hong Kong | $3.11B | -13% | +2% | 5% | 8.1× | n/a | n/a |
| Bharat Dynamics BDL.NS | India | $4.12B | -28% | -19% | 10% | 47.2× | n/a | n/a |
| North Industries Group Red Arrow 000519.SZ | China | $2.88B | -22% | +100% | 1% | 57.5× | 23.0% | +7.5% |
| Aar AIR | United States | $4.39B | -7% | +22% | 9% | 18.4× | 13.2% | +14.9% |
| Mercury Systems MRCY | United States | $4.48B | -19% | +8% | 2% | 44.2× | 59.6% | +1.3% |
| Sai MicroElectronics 300456.SZ | China | $2.75B | -45% | -59% | -99% | 65.9× | 41.7% | +1.5% |
| North Navigation Control Technology 600435.SS | China | $2.65B | -19% | -32% | -5% | 97.4× | 17.1% | +6.8% |
| Aerospace CH UAV 002389.SZ | China | $2.64B | -17% | +3% | 0% | 54.9× | n/a | n/a |
| Nanchang Sanrui Intelligence Technology 301696.SZ | China | $4.87B | -14% | +29% | 45% | n/a | 36.1% | +43.7% |