---
title: "Jiangsu Changbao Steeltube Co., Ltd (002478.SZ)"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/002478.SZ.md"
symbol: "002478.SZ"
name: "Jiangsu Changbao Steeltube Co., Ltd"
industry: "Steel"
datetime: "2026-05-21T17:49:13.707Z"
locales:
  - [en](https://longbridge.com/en/quote/002478.SZ.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/002478.SZ.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/002478.SZ.md)
---

# Jiangsu Changbao Steeltube Co., Ltd (002478.SZ)

## Company Overview

Jiangsu Changbao Steeltube Co.,Ltd manufactures and sells steel tubes in the People’s Republic of China and internationally. The company offers OCTG products for petroleum industry, including connection tubing and casings, coupling stocks, perforation gun carrier pipes, petroleum tool pipes, drill and green pipes, and slotted pipes; boiler tubes for power generation, such as boiler tubes, water heater, boilers, and U bended tubes; steel tubes for auto industry comprising automobile precision tubes, piping for hydraulic cylinders, and axel tubes; petrochemical tubes, steel tubes for low temperature resistance, and high pressure fertilizer tubes; and steel tubes for engineering machinery industry, such as mechanical steel pipes, boom pipes, and piping for hydraulic cylinders. It also provides line pipes, geological drilling pipes, core barrels, rope corning drill pipe materials, gas cylinder pipes, and accumulator tubes, as well as steel pipes for marine engineering, structural purpose, and fluid transmission. The company was founded in 1958 and is based in Changzhou, China.

| Item | Detail |
|------|--------|
| Industry | Steel |
| Exchange | CN Market |
| Website | [www.cbsteeltube.com](https://www.cbsteeltube.com) |

## Key Drivers
> *AI-analyzed key factors driving this stock's performance*


## Longbridge Financial Score™: B
> *Longbridge Financial Score™ — Proprietary multi-factor rating model by Longbridge*
> Updated: 2026-05-21T04:30:13.000Z

**Overall: B (0.38)**

**Industry**: Steel

| Metric | Value |
|--------|-------|
| Industry Ranking | 9 / 85 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

**Multi Score**: B

#### Style Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 7.28% |  |
| Net Profit YoY | -24.42% |  |
| P/B Ratio | 1.18 |  |
| Dividend Ratio | 2.74% |  |

#### Size Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 7156617277.43 |  |
| Revenue | 6000764337.63 |  |

#### Multi Score Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 7.41% | B |
| Profit Margin | 7.28% | B |
| Gross Margin | 13.97% | D |
| Revenue YoY | 7.28% | C |
| Net Profit YoY | -24.42% | D |
| Total Assets YoY | 5.25% | C |
| Net Assets YoY | 1.74% | C |
| Cash Flow Margin | 176.51% | B |
| OCF YoY | 7.28% | C |
| Turnover | 0.70 | B |
| Gearing Ratio | 31.17% | B |

```chart-data:radar
{
  "title": "Longbridge Financial Score - Jiangsu Changbao Steeltube Co., Ltd",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Style Score",
      "grade": "",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "7.28%",
          "rating": ""
        },
        {
          "name": "Net Profit YoY",
          "value": "-24.42%",
          "rating": ""
        },
        {
          "name": "P/B Ratio",
          "value": "1.18",
          "rating": ""
        },
        {
          "name": "Dividend Ratio",
          "value": "2.74%",
          "rating": ""
        }
      ]
    },
    {
      "name": "Size Score",
      "grade": "",
      "indicators": [
        {
          "name": "Market Cap",
          "value": "7156617277.43",
          "rating": ""
        },
        {
          "name": "Revenue",
          "value": "6000764337.63",
          "rating": ""
        }
      ]
    },
    {
      "name": "Multi Score",
      "grade": "B",
      "indicators": [
        {
          "name": "ROE",
          "value": "7.41%",
          "rating": "B"
        },
        {
          "name": "Profit Margin",
          "value": "7.28%",
          "rating": "B"
        },
        {
          "name": "Gross Margin",
          "value": "13.97%",
          "rating": "D"
        },
        {
          "name": "Revenue YoY",
          "value": "7.28%",
          "rating": "C"
        },
        {
          "name": "Net Profit YoY",
          "value": "-24.42%",
          "rating": "D"
        },
        {
          "name": "Total Assets YoY",
          "value": "5.25%",
          "rating": "C"
        },
        {
          "name": "Net Assets YoY",
          "value": "1.74%",
          "rating": "C"
        },
        {
          "name": "Cash Flow Margin",
          "value": "176.51%",
          "rating": "B"
        },
        {
          "name": "OCF YoY",
          "value": "7.28%",
          "rating": "C"
        },
        {
          "name": "Turnover",
          "value": "0.70",
          "rating": "B"
        },
        {
          "name": "Gearing Ratio",
          "value": "31.17%",
          "rating": "B"
        }
      ]
    }
  ]
}
```

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 15.76 | 8/85 | 15.76 | 11.13 | 8.65 |
| PB | 1.14 | 27/85 | 1.56 | 1.15 | 0.86 |
| PS (TTM) | 1.15 | 40/85 | 1.60 | 1.18 | 0.88 |
| Dividend Yield | 2.85% | 11/85 | 3.95% | 2.87% | 2.14% |

## Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 01 | Baosteel (600019.SH) | C | C | B | B | B | B |
| 02 | YONGXING MATERIALS (002756.SZ) | B | C | C | A | C | B |
| 03 | ETS (002545.SZ) | B | A | C | B | B | B |
| 04 | JIULI Hi-tech (002318.SZ) | B | D | B | B | C | B |
| 05 | XINXING PIPES (000778.SZ) | C | B | B | C | B | B |

## Institutional View

### Analyst Rating Distribution

> As of 2026-04-25T16:00:00.000Z

Total Analysts: **1**

| Rating | Count | Percentage |
|--------|-------|-----------| 
| Overweight | 1 | 100% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 7.66 |
| Highest Target | 10.29 |
| Lowest Target | 10.29 |

## References

- [Company Overview — Profile, executives, shareholders, business breakdown](https://longbridge.com/en/quote/002478.SZ/overview.md)
- [Financial Reports — Income, balance sheet, cash flow, dividends](https://longbridge.com/en/quote/002478.SZ/norm.md)
- [Related News](https://longbridge.com/en/quote/002478.SZ/news.md)
- [Filings — Company announcements and regulatory filings](https://longbridge.com/en/quote/002478.SZ/filings.md)

---

> **Disclaimer: This article is for reference only and does not constitute any investment advice.**