USAS Building System (Shanghai) Co.,Ltd.

USAS Building System (Shanghai) Co.,Ltd.

HHKEX:2671
7.38
HKD
+0.14
(+1.86%)
867.96MMarket Cap
USAS Building System (Shanghai) Co.,Ltd.
HKEX:2671
(Hong Kong Exchange)

Recent

price

7.38

P/E

ratio

- -

div

yld

- -

ROIC.AI

2022
2023
2024
2025
TTM
CNY
15.78
12.05
12.63
23.88
- -
Revenue per Share
0.74
0.53
0.62
0.68
- -
Basic EPS, GAAP
-0.33
0.12
-0.42
1.22
- -
Free Cash Flow per Basic Share
- -
0.17
0.16
0.29
- -
Dividend per Share
2.46
2.97
3.6
5.18
5.18
Book Value per Share
2.22
2.74
3.44
5
5
Tangible Book Value per Share
121
121
121
96
108
Basic Weighted Avg Shares
1,903
1,453
1,523
2,294
- -
Sales/Revenue/Turnover
5.99
5.78
5.06
4.61
- -
Operating Margin (%)
17
17
17
16
- -
Depreciation Expense
89
64
75
66
- -
Net Income, GAAP
21.32
24.68
10.06
15.83
- -
Effective Tax Rate (%)
4.67
4.42
4.9
2.86
- -
Profit Margin (%)
144
252
358
561
561
Working Capital
2
9
4
- -
- -
LT Debt
300
400
472
662
662
Total Equity
- -
10.59
10.32
7.41
- -
Return on Invested Capital (%)
- -
11.97
11.66
7.97
- -
Return on Capital (%)
- -
19.6
18.83
12.41
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Jun'25
Dec'25
ST Debt
376
414
LT Borrowings
- -
- -
LT Finance Leases
1
- -
Preferred Equity and Hybrid Capital
- -
- -
Shares Outstanding
121
121
Market Capitalization
- -
780

Working Capital

CNY

•

in mil. unless spec.
Jun'25
Dec'25
Total Current Assets
1,619
1,827
Cash, Cash Equivalents & STI
178
420
Accounts Receivable, Net
486
373
Inventories
134
72
Total Current Liabilities
1,195
1,266
Payables & Accruals
- -
- -
ST Debt
376
414
Deferred Revenue
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
40.33%
Free Cash Flow
- -
- -
-329.23%
Net Income, GAAP
- -
- -
-12.05%
Sales/Revenue/Turnover
- -
- -
50.63%
Total Cash Common Dividend
- -
- -
45%

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1,453
2024
- -
- -
1,523
2025
- -
- -
2,294

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.53
2024
- -
- -
0.62
2025
- -
- -
0.68

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.17
2024
- -
- -
0.16
2025
- -
- -
0.29
Business
USAS Building System (Shanghai) Co., Ltd. provides integrated prefabricated steel structure building (PS building) solutions, serving industrial construction markets domestically in the PRC and internationally. The company specializes in PS building subcontracting services, encompassing project design and optimization; procurement; manufacturing and on-site installation; quality assurance; and comprehensive general contracting that covers project lifecycle activities such as implementation, primary structure construction, scheduling, safety, budget management, and quality control for both PS and PC building projects. It operates as a turnkey provider, delivering design-to-build capabilities and EPC-style services across multiple industries. Founded in 1999, USAS is headquartered in Shanghai and maintains a strategic manufacturing footprint in Suzhou, with a production base reported around 100,000 square meters. The business emphasizes a full-spectrum approach to steel-structure systems, combining engineering design, manufacturing excellence, and on-site execution to ensure standardized, high-quality delivery of industrial buildings. In addition to core PS building activities, the company maintains ancillary capabilities in project management, technical consulting, and post-project support to ensure lifecycle performance. Key product and service categories include: PS building subcontracting services—design optimization, procurement, fabrication, and installation; general contracting services—project lifecycle management, primary structure construction, quality and safety oversight, scheduling and budget control; engineering design and optimization—BIM-enabled analysis, value engineering, and constructability reviews; integrated EPC-like services—coordination across design, procurement, fabrication, and construction to deliver turnkey projects; and on-site quality assurance and commissioning. The company also pursues international expansion through overseas project execution and cross-border collaborations, strengthening its global footprint alongside domestic operations. Recent major developments include: formal listing on the Main Board of the Hong Kong Special Administrative Region stock exchange on December 30, 2025, marking the company’s entry into public capital markets and enabling broader investor access; continued strategic emphasis on standardization and modularization of PS building solutions to drive efficiency and scalability; expansion of overseas project activity and partnerships to accelerate international project deployment; and ongoing enhancements to manufacturing capabilities and supply-chain integration to support larger,More complex industrial developments. USAS’ governance and corporate structure reflect a transition to a publicly listed platform while maintaining its focus on core PS building competencies and EPC-style service offerings. Industry and market positioning: operates in the construction and building materials industry with a focus on industrial prefabricated steel structures; targets construction developers, industrial users, and project owners seeking fast, cost-effective, and quality-assured industrial facilities; serves clients across domestic Chinese markets and selected international projects, leveraging a vertical integration model from design to installation. Founding year and headquarters location are disclosed above, with subsidiaries and affiliates aligned to enhance regional manufacturing and project delivery capabilities. The company maintains alignments with international suppliers and adopts digital project management practices to support scalable growth and client-centric delivery.