513 Shanghai Stock Exchange companies in Altman's distress band
An Altman Z-Score below 1.8, which is the band Altman called distress, computed from filed statements.
Stocks · Non-US shares · Shanghai Stock Exchange (SHH) · Ranked by Altman Z-Score in ratio, largest company first · Rebuilt 2026-11-07 at 09:25 UTC
How this list is built
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against total assets, from the newest filed statements. Where the filer raised going concern itself, that sentence is shown with its filing. The score classifies and does not rank: Altman published two cut-offs and no ordering below the lower one, so the list is ordered by size, largest company first. The screen: companies listed on Shanghai Stock Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 1,847 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.
The list
50 of 513 companies| # | Company | Market | Sector | Altman Z-Score, in ratioAltman Z | Current ratio, in ratioCurrent ratio | Tangible equity ratio, in ratioTangible equity ratio | Operating margin, in percentOperating margin | Altman Z-Score over timeAltman Z over time | Source |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SHH:600309Wanhua Chemical Group Co., Ltd. | SHH | Basic Materials | 1.70 | 0.62 | 0.30 | 8.2% | n/a | Source n/a |
| 2 | SHH:600025Huaneng Lancang River Hydropower Inc. | SHH | Utilities | 1.14 | 0.18 | 0.34 | 40.7% | n/a | Source n/a |
| 3 | SHH:601985China National Nuclear Power Co., Ltd. | SHH | Utilities | 0.50 | 0.82 | 0.14 | 28.2% | n/a | Source n/a |
| 4 | SHH:601668China State Construction Engineering Corporation Limited | SHH | Industrials | 1.07 | 1.26 | 0.13 | 5.3% | n/a | Source n/a |
| 5 | SHH:601766CRRC Corporation Limited | SHH | Industrials | 1.37 | 1.24 | 0.30 | 6.9% | n/a | Source n/a |
| 6 | SHH:600150China CSSC Holdings Limited | SHH | Industrials | 1.51 | 1.24 | 0.26 | 5.1% | n/a | Source n/a |
| 7 | SHH:600050China United Network Communications Limited | SHH | Communication Services | 0.94 | 0.65 | 0.21 | 5.8% | n/a | Source n/a |
| 8 | SHH:600886SDIC Power Holdings Co., Ltd. | SHH | Utilities | 0.80 | 0.61 | 0.20 | 30.8% | n/a | Source n/a |
| 9 | SHH:600104SAIC Motor Corporation Limited | SHH | Consumer Cyclical | 1.16 | 1.18 | 0.28 | 1.6% | n/a | Source n/a |
| 10 | SHH:600346Hengli Petrochemical Co.,Ltd. | SHH | Basic Materials | 1.19 | 0.56 | 0.23 | 4.6% | n/a | Source n/a |
| 11 | SHH:600893AECC Aviation Power Co.,Ltd | SHH | Industrials | 1.60 | 1.19 | 0.33 | 2.3% | n/a | Source n/a |
| 12 | SHH:600905China Three Gorges Renewables (Group) Co.,Ltd. | SHH | Utilities | 0.43 | 0.89 | 0.21 | 17.9% | n/a | Source n/a |
| 13 | SHH:600089TBEA Co., Ltd. | SHH | Industrials | 1.36 | 1.15 | 0.31 | 8.4% | n/a | Source n/a |
| 14 | SHH:600795GD Power Development Co.,Ltd | SHH | Utilities | 0.49 | 0.42 | 0.10 | 10.6% | n/a | Source n/a |
| 15 | SHH:601012LONGi Green Energy Technology Co., Ltd. | SHH | Technology | 1.28 | 1.29 | 0.34 | -10.7% | n/a | Source n/a |
| 16 | SHH:600010Inner Mongolia Baotou Steel Union Co., Ltd. | SHH | Basic Materials | 0.93 | 0.58 | 0.33 | 3.2% | n/a | Source n/a |
| 17 | SHH:601669Power Construction Corporation of China, Ltd | SHH | Industrials | 0.57 | 0.88 | -0.09 | 2.7% | n/a | Source n/a |
| 18 | SHH:600039Sichuan Road & Bridge Co.,Ltd | SHH | Industrials | 1.11 | 1.27 | 0.09 | 8.1% | n/a | Source n/a |
| 19 | SHH:600023Zhejiang Zheneng Electric Power Co., Ltd. | SHH | Utilities | 1.55 | 1.03 | 0.48 | 8.1% | n/a | Source n/a |
| 20 | SHH:600482China Shipbuilding Industry Group Power Co., Ltd. | SHH | Industrials | 1.77 | 1.77 | 0.32 | 6.7% | n/a | Source n/a |
| 21 | SHH:600048Poly Developments and Holdings Group Co., Ltd. | SHH | Real Estate | 0.94 | 1.72 | 0.16 | 3.1% | n/a | Source n/a |
| 22 | SHH:600350Shandong Hi-speed Company Limited | SHH | Industrials | 0.75 | 0.65 | -0.50 | 18.6% | n/a | Source n/a |
| 23 | SHH:603799Zhejiang Huayou Cobalt Co., Ltd | SHH | Basic Materials | 1.25 | 0.95 | 0.28 | 11.9% | n/a | Source n/a |
| 24 | SHH:600372AVIC Airborne Systems Co., Ltd. | SHH | Industrials | 1.65 | 1.60 | 0.44 | 5.5% | n/a | Source n/a |
| 25 | SHH:600438Tongwei Co.,Ltd | SHH | Energy | 0.65 | 1.19 | 0.18 | -13.7% | n/a | Source n/a |
| 26 | SHH:601233Tongkun Group Co., Ltd. | SHH | Industrials | 1.50 | 0.55 | 0.33 | 0.9% | n/a | Source n/a |
| 27 | SHH:601877Zhejiang Chint Electrics Co., Ltd. | SHH | Industrials | 1.33 | 1.49 | 0.27 | 13.0% | n/a | Source n/a |
| 28 | SHH:600741HUAYU Automotive Systems Company Limited | SHH | Consumer Cyclical | 1.73 | 1.13 | 0.32 | 5.1% | n/a | Source n/a |
| 29 | SHH:600221Hainan Airlines Holding Co., Ltd. | SHH | Industrials | -0.08 | 0.74 | 0.02 | 2.6% | n/a | Source n/a |
| 30 | SHH:600642Shenergy Company Limited | SHH | Utilities | 1.07 | 1.32 | 0.37 | 17.6% | n/a | Source n/a |
| 31 | SHH:601117China National Chemical Engineering Co., Ltd | SHH | Industrials | 1.37 | 1.12 | 0.26 | 4.4% | n/a | Source n/a |
| 32 | SHH:688223Jinko Solar Co., Ltd. | SHH | Technology | 0.93 | 1.29 | 0.21 | -7.2% | n/a | Source n/a |
| 33 | SHH:601021Spring Airlines Co., Ltd. | SHH | Industrials | 1.73 | 0.91 | 0.37 | 10.0% | n/a | Source n/a |
| 34 | SHH:600418Anhui Jianghuai Automobile Group Corp.,Ltd. | SHH | Consumer Cyclical | 1.23 | 0.80 | 0.10 | -3.6% | n/a | Source n/a |
| 35 | SHH:601699Shanxi Lu'an Environmental Energy Development Co., Ltd. | SHH | Energy | 1.63 | 0.90 | 0.56 | 4.6% | n/a | Source n/a |
| 36 | SHH:600895Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. | SHH | Real Estate | 0.82 | 0.91 | 0.22 | 26.1% | n/a | Source n/a |
| 37 | SHH:600863Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited | SHH | Utilities | 1.56 | 0.39 | 0.28 | 19.4% | n/a | Source n/a |
| 38 | SHH:600177Youngor Group Co.,Ltd | SHH | Consumer Cyclical | 1.79 | 1.14 | 0.59 | 22.6% | n/a | Source n/a |
| 39 | SHH:600985Huaibei Mining Holdings Co.,Ltd. | SHH | Energy | 1.26 | 0.51 | 0.32 | 3.7% | n/a | Source n/a |
| 40 | SHH:600352Zhejiang Longsheng Group Co.,Ltd | SHH | Basic Materials | 1.52 | 1.33 | 0.43 | 13.9% | n/a | Source n/a |
| 41 | SHH:600663Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. | SHH | Real Estate | 0.44 | 0.92 | 0.14 | 12.7% | n/a | Source n/a |
| 42 | SHH:600021Shanghai Electric Power Co., Ltd. | SHH | Utilities | 0.43 | 0.73 | 0.13 | 15.6% | n/a | Source n/a |
| 43 | SHH:600995China Southern Power Grid Energy Storage Co., Ltd. | SHH | Utilities | 1.14 | 0.97 | 0.37 | 35.9% | n/a | Source n/a |
| 44 | SHH:603260Hoshine Silicon Industry Co., Ltd. | SHH | Basic Materials | 0.57 | 0.33 | 0.31 | -2.3% | n/a | Source n/a |
| 45 | SHH:601611China Nuclear Engineering Corporation Limited | SHH | Industrials | 0.76 | 1.12 | -0.03 | 4.6% | n/a | Source n/a |
| 46 | SHH:600578Beijing Jingneng Power Co., Ltd. | SHH | Utilities | 0.67 | 0.42 | 0.22 | 15.9% | n/a | Source n/a |
| 47 | SHH:600348Shan Xi Huayang Group New Energy Co.,Ltd. | SHH | Energy | 0.94 | 0.68 | 0.13 | 14.5% | n/a | Source n/a |
| 48 | SHH:600143Kingfa Sci. & Tech. Co., Ltd. | SHH | Basic Materials | 1.76 | 1.12 | 0.25 | 0.8% | n/a | Source n/a |
| 49 | SHH:688472CSI Solar Co., Ltd. | SHH | Energy | 1.58 | 1.25 | 0.36 | 2.9% | n/a | Source n/a |
| 50 | SHH:600588Yonyou Network Technology Co.,Ltd. | SHH | Technology | 1.41 | 0.75 | 0.12 | -15.5% | n/a | Source n/a |
This is the top of the list. The rest is a page away and no plan is needed for it.
Filed figures cite the filing they come from; figures marked Market data are quotes as of the date shown. Not a recommendation and not advice.
Past figures are not a forecast. Anything we modelled is labelled as ours. You can lose money on any security.