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Wind turbine manufacturing arm of Shanghai Electric, one of China's state-owned equipment conglomerates.
Wind turbine manufacturing arm of Shanghai Electric, one of China's state-owned equipment conglomerates.
Sells turbines in large batches to state utilities and developers, with revenue booked on delivery or installation milestones, so it moves with the number of wind projects Chinese power groups award it. Competition from other Chinese turbine makers at tender time keeps prices tight.
Moat: narrow (parent backing, scale, installed base). Backed by Shanghai Electric's manufacturing scale and an early lead in China's offshore wind market.
Headquarters: Shanghai, China · Founded: 2006 · Employees: 1,648
Size Shanghai Electric Wind Power (688660.SS) is a China Industrials company (Electrical Products) with a market value of $1.50B, the 1637th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.48 on 6 Nov 2026.
Performance Over six months the shares fell 38.9%, against -38.9% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 18 in its peer set.
Growth Revenue grew 69.4% over the last twelve months (peer median +16.2%); the operating margin is -6.1% (peer median 8.3%).
Valuation It trades at 0.9× enterprise value to sales against a peer median of 2.2× (3rd cheapest of 21).
Capital Return on invested capital runs 12.7 points below its cost of capital (7.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.6B | CN¥13.7B | CN¥10.4B | CN¥10.1B | CN¥12.1B |
| Revenue growth | — | +31% | +3% | -16% | — |
| Gross profit | CN¥1.07B | CN¥583M | CN¥637M | CN¥557M | CN¥1.61B |
| EBITDA | n/a | -CN¥694M | -CN¥401M | -CN¥1.48B | -CN¥252M |
| Net income | -CN¥1.12B | -CN¥989M | -CN¥785M | -CN¥1.27B | -CN¥338M |
| Free cash flow | -CN¥2.57B | CN¥312M | -CN¥496M | -CN¥5.59B | -CN¥2.78B |
| Capital expenditure | CN¥387M | CN¥411M | CN¥544M | CN¥1.64B | CN¥2.06B |
| Total debt | CN¥9.77B | CN¥8.17B | CN¥7.45B | CN¥6.35B | CN¥8.18B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Shanghai Electric Wind Power 688660.SS | $1.50B | -39% | +69% | -6% | 0.9× | n/a |
| Goldwind Science & Technology 002202.SZ | $8.58B | -45% | +11% | 6% | 1.5× | n/a |
| Ming Yang Smart Energy 601615.SS | $2.80B | -47% | +8% | -4% | 1.5× | n/a |
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 | 688660.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.0% | -14.3% | 9th lowest of 21 |
| 6-month return | -38.9% | -38.9% | 9th highest of 18 |
| Distance from 52-week high | -66.2% | -58.0% | 6th lowest of 21 |
| Revenue growth (TTM) | +69.4% | +16.2% | 3rd highest of 21 |
| Operating margin | -6.1% | 8.3% | 3rd lowest of 21 |
| EV / Sales | 0.9× | 2.2× | 3rd cheapest of 21 |
| ROIC minus cost of capital | -12.7 pp | -2.7 pp | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Electric Wind Power 688660.SS | China | $1.50B | -39% | +69% | -6% | 0.9× | n/a | n/a |
| Hainan Drinda New Energy Technology 002865.SZ | China | $1.49B | -45% | -4% | -13% | 1.8× | 19.3% | +54.9% |
| Up-Shine Lighting 301362.SZ | China | $1.50B | -39% | +15% | 7% | 5.0× | n/a | n/a |
| Zhejiang Zhaolong Interconnect Technology Co. Limited 300913.SZ | China | $1.49B | -45% | +29% | 12% | 3.4× | n/a | n/a |
| Inox Wind INOXWIND.NS | India | $1.49B | -39% | +17% | 15% | 3.2× | n/a | n/a |
| Aerospace Intelligent Manufacturing Technology 300446.SZ | China | $1.48B | -38% | -14% | 5% | 1.2× | 2.1% | +133.1% |
| Guodian Nanjing Automation 600268.SS | China | $1.48B | -35% | -5% | 9% | 1.0× | -0.1% | +13.9% |
| Shenzhen Hopewind Electric 603063.SS | China | $1.52B | -50% | -5% | 9% | 2.5× | 14.6% | +12.3% |
| Iljin Electric 103590.KS | South Korea | $1.52B | -65% | +24% | 9% | 0.9× | n/a | n/a |
| Cswind 112610.KS | South Korea | $1.52B | -31% | -8% | 7% | 1.1× | -0.5% | +23.8% |
| Beijing Victory Electric 001393.SZ | China | $1.53B | n/a | +31% | 11% | 2.9× | n/a | n/a |
| Shandong Hi-tech Spring Material Technology 301292.SZ | China | $1.54B | -46% | +46% | 11% | 1.9× | n/a | n/a |
| Shenzhen SDG Information 000070.SZ | China | $1.55B | -33% | +27% | -1% | 2.6× | 28.4% | -1.3% |
| Long Young Electronic (Kunshan) 301389.SZ | China | $1.55B | -41% | +103% | 17% | 12.9× | 46.5% | +3.3% |
| Sinfonia Technology 6507.T | Japan | $1.56B | -39% | +9% | 15% | 1.9× | 15.4% | +8.0% |
| Hangzhou Gold Electronic Equipment 301669.SZ | China | $1.56B | n/a | +37% | 9% | 7.8× | n/a | n/a |
| ERock EROC | United States | $1.56B | n/a | +43% | -19% | 6.4× | 12.5% | +42.5% |
| Daihen 6622.T | Japan | $1.43B | +5% | +5% | 8% | 1.2× | n/a | n/a |
| East 300376.SZ | China | $1.43B | -30% | +9% | 3% | 3.4× | n/a | n/a |
| Zhejiang Wanma 002276.SZ | China | $1.42B | -25% | +13% | 1% | 0.8× | 5.1% | +15.6% |
| Pylon Technologies 688063.SS | China | $1.41B | -50% | +101% | 1% | 1.4× | n/a | n/a |