October 2026
Largest Diversified Industrials Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
CITIC, China State Construction Engineering, NARI Technology, ENN Natural Gas and Zjamp Group.
 | CITIC Limited is a Hong Kong-listed diversified group whose activities include financial services, resources and energy, manufacturing, real estate, infrastructure and engineering contracting. Its businesses operate principally in China, alongside activities in Hong Kong and other overseas markets. The group serves commercial, industrial, institutional and consumer customers through its operating subsidiaries. Revenue comes from financial services, manufactured products, resource-related activities, infrastructure and contracted services across those businesses. In 2015, CITIC Environment, within the group’s wholly owned corporate chain, invested alongside KKR in United Envirotech as part of an expansion into environmental services. The acquired platform combined wastewater-treatment engineering, water-plant investments and membrane manufacturing. CITIC’s 2015 transaction disclosures described environmental protection and stewardship of natural resources as a strategic development area. At June 2015, the broader group reported approximately HK$6.5 trillion of total assets and employed more than 120,000 people across its businesses. | $2 | +6% | $48B | $348B | 2.5x | 12.9x | ||
| China State Construction Engineering Corp Ltd is a construction and real estate conglomerate. The company conducts its operations through five segments: Housing Construction segment, Infrastructure Construction and Investment segment, Real Estate Development and Investment segment, Design & Survey segment, and Others segment. It derives the majority of its revenue from the Housing Construction segment. The company's services include product technology research and development, survey and design, real estate development, engineering contracting, equipment manufacturing, asset operation, and property management. | $1 | -11% | $28B | $163B | 0.5x | 10.9x | ||
| NARI Technology Co Ltd is engaged in providing power & automation technologies in China. It operates in areas of power system automation, smart grid, renewable energy, railway automation, industrial control, & energy conservation & environment protection. | $3 | 0% | $27B | $25B | 2.5x | 15.6x | ||
| ENN Natural Gas Co Ltd is a natural gas distributor. The company has formed four divisions, namely natural gas sales, integrated energy services, energy trade, and energy transmission and distribution. Its products include natural gas, coal, methanol, Dimethyl ether, Double junction silicon-based thin film solar panel, Ubiquitous energy efficiency platform, and Micro gas turbine. | $3 | +8% | $9.2B | $17B | 0.9x | 6.9x | ||
| Zjamp Group Co Ltd is mainly engaged in the business which covers comprehensive agricultural services, automotive trading services, and pharmaceutical production and sales. It is a leader in the commercial circulation industry under the new development pattern of dual circulation and an enterprise in the urban and rural commercial service industry of the national supply and marketing cooperative system. | $1 | -9% | $629M | $669M | 0.1x | 2.7x | ||
| Bright Oceans Inter-Telecom Corp is a Chinese company engaged in four industries: telecommunication, transportation, energy and capital investment. | $1 | -26% | $432M | $386M | 8.3x | (5.8x) | ||
| Founder Holdings Ltd is engaged in software development and systems integration. It operates in the business division of the provision of software development and system integration and information products distribution. Geographically, the company operates in Hong Kong, Mainland China, and other countries, of which majority revenue is generated from Mainland China. The group serves in the fields of printing, media, publishing, big data and fonts library. | $0 | -20% | $93M | - | - | - | ||
| Median | $1 | -9% | $9.2B | $21B | 1.7x | 8.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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