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Chinese producer of PVC resin and plastic pipe (PE/PVC) products, based in Sichuan.
Chinese producer of PVC resin and plastic pipe (PE/PVC) products, based in Sichuan.
Sells PVC resin and pipe as commodity products, so earnings follow the gap between PVC selling prices and the cost of raw materials and power. Pipe is sold on to building and infrastructure projects, which ties volumes to construction activity.
Moat: none (scale). Commodity PVC and pipe producer in a fragmented, price-competitive Chinese market.
Headquarters: Chengdu, Sichuan, China · Employees: 3,607
Size Sichuan Xinjinlu (000510.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $906M, the 2507th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.58 on 6 Nov 2026.
Performance Over six months the shares fell 32.2%, against -25.4% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 3.7% over the last twelve months (peer median +5.8%); the operating margin is -14.9% (peer median 7.2%).
Valuation It trades at 6.49× book value against a peer median of 2.40× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 62.3%; Sichuan Xinjinlu delivers -25.3%, so the price asks more than the business earns today.
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.71B | CN¥1.66B | CN¥2.03B | CN¥2.58B | CN¥3.03B |
| Revenue growth | — | -18% | -21% | -15% | — |
| Gross profit | CN¥180M | CN¥138M | CN¥234M | CN¥158M | CN¥394M |
| EBITDA | n/a | -CN¥28.2M | CN¥70.6M | -CN¥50.0M | CN¥133M |
| Net income | -CN¥277M | -CN¥230M | -CN¥62.5M | -CN¥177M | CN¥13.0M |
| Free cash flow | -CN¥204M | -CN¥143M | -CN¥161M | -CN¥151M | -CN¥90.8M |
| Capital expenditure | CN¥269M | CN¥161M | CN¥60.7M | CN¥34.0M | CN¥82.6M |
| Total debt | CN¥522M | CN¥553M | CN¥605M | CN¥632M | CN¥363M |
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| Measure | 000510.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.0% | -11.0% | lowest of 21 |
| 6-month return | -32.2% | -25.4% | 5th lowest of 20 |
| Return on equity | -25.3% | 2.8% | 2nd lowest of 21 |
| Price / book | 6.49× | 2.40× | 2nd most expensive of 21 |
| ROE the price implies | 62.3% | 22.8% | 2nd most demanding of 21 |
| ROE delivered | -25.3% | 2.7% | 2nd lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sichuan Xinjinlu 000510.SZ | China | $906M | -32% | -4% | -25% | 6.49× | 62.3% | -25.3% |
| Shenzhen Wote Advanced Materials 002886.SZ | China | $906M | -15% | +10% | 4% | 2.67× | 33.5% | 4.1% |
| Longkou Union Chemical 301209.SZ | China | $904M | -39% | -3% | 1% | 8.12× | 46.0% | 0.8% |
| Henan Jindan Lactic Acid Technology 300829.SZ | China | $900M | +52% | +5% | 3% | 2.39× | 15.8% | 2.7% |
| Boai NKY Medical 300109.SZ | China | $896M | -32% | -17% | 3% | 1.78× | 18.2% | 3.5% |
| Guangzhou Human New Material Science & Technology 301683.SZ | China | $918M | -25% | +20% | 19% | 2.53× | 28.3% | n/a |
| Sudarshan Chemical Industries SUDARSCHEM.NS | India | $893M | +10% | +90% | 1% | 2.43× | 32.1% | n/a |
| TETRA Technologies TTI | United States | $891M | -39% | +6% | 3% | 2.14× | 20.9% | 2.8% |
| Changzhou Tronly New Electronic Materials 300429.SZ | China | $923M | -37% | +14% | -11% | 2.56× | 28.6% | -10.6% |
| Quechen Silicon Chemical 605183.SS | China | $926M | -12% | +7% | 10% | 1.64× | 12.0% | 9.7% |
| Green Plains GPRE | United States | $927M | -27% | -22% | 15% | 1.07× | 10.9% | 15.4% |
| Jiangsu Chengxing Phosph-Chemicals 600078.SS | China | $928M | -29% | +27% | 13% | 3.18× | 28.7% | 13.3% |
| Rastar Environmental Protection Materials 300834.SZ | China | $933M | -9% | -23% | 2% | 2.21× | 15.5% | 2.4% |
| Zhejiang Oceanking Development 603213.SS | China | $938M | +1% | -17% | -1% | 3.44× | 29.7% | -0.9% |
| Zhejiang Wansheng 603010.SS | China | $872M | -25% | +19% | -34% | 2.17× | 23.6% | -33.8% |
| Hanking Gold International 3788.HK | Hong Kong | $862M | -26% | -19% | 1% | 2.25× | 15.8% | 0.6% |
| Kronos Worldwide KRO | United States | $859M | +46% | +3% | -14% | 1.14× | 11.3% | -13.7% |
| Daqo New Energy Corp Sponsored ADR DQ | United States | $856M | -32% | -21% | -5% | 0.20× | 3.9% | -5.3% |
| Shandong Head 002810.SZ | China | $855M | -38% | +16% | 12% | 2.41× | 21.9% | 12.2% |
| Compass Minerals International CMP | United States | $962M | -18% | +5% | 7% | 3.65× | 33.0% | 7.0% |
| Guangdong Sinoplast Adv Matl 301686.SZ | China | $962M | n/a | +7% | 24% | 5.03× | 69.1% | n/a |