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Chinese regional energy company classified under gas distribution; specific business lines not independently confirmed.
Chinese regional energy company classified under gas distribution; specific business lines not independently confirmed.
Moat: none
Headquarters: China · Employees: 897
Size Delong Composite Energy (000593.SZ) is a China Utilities company (Gas Distributors) with a market value of $896M, the 2532nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.65 on 6 Nov 2026.
Performance Over six months the shares fell 34.2%, against -15.2% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 23.7% over the last twelve months (peer median -0.7%); the operating margin is 5.5% (peer median 6.3%).
Valuation It trades at 4.8× enterprise value to sales against a peer median of 1.4× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +28 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.8 points below its cost of capital (10.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.34B | CN¥1.52B | CN¥1.73B | CN¥1.59B | CN¥1.46B |
| Revenue growth | — | -13% | +9% | +9% | — |
| Gross profit | CN¥275M | CN¥206M | CN¥217M | CN¥233M | CN¥204M |
| EBITDA | n/a | CN¥166M | CN¥193M | CN¥202M | CN¥180M |
| Net income | CN¥16.0M | CN¥20.3M | CN¥19.0M | -CN¥241M | CN¥48.2M |
| Free cash flow | CN¥158M | CN¥85.4M | CN¥74.5M | CN¥168M | CN¥120M |
| Capital expenditure | CN¥36.5M | CN¥46.5M | CN¥60.7M | CN¥70.7M | CN¥55.6M |
| Total debt | CN¥508M | CN¥481M | CN¥550M | CN¥717M | CN¥625M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000593.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.8% | -5.5% | lowest of 21 |
| 6-month return | -34.2% | -15.2% | 2nd lowest of 21 |
| Distance from 52-week high | -40.5% | -28.6% | 6th lowest of 21 |
| Revenue growth (TTM) | -23.7% | -0.7% | lowest of 21 |
| Operating margin | 5.5% | 6.3% | 8th lowest of 21 |
| EV / Sales | 4.8× | 1.4× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 31.8% | -4.1% | most demanding of 17 |
| Growth delivered (Del g) | +3.7% | +8.7% | 5th lowest of 17 |
| Hurdle (Req g minus delivered) | +28.1 pp | -5.0 pp | most demanding of 17 |
| ROIC minus cost of capital | -2.8 pp | +0.5 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Delong Composite Energy 000593.SZ | China | $896M | -34% | -24% | 6% | 4.8× | 31.8% | +3.7% |
| Zhongyu Energy 3633.HK | Hong Kong | $896M | -7% | -7% | 6% | 1.8× | n/a | n/a |
| Tokai 3167.T | Japan | $1.02B | +9% | +1% | 8% | 0.8× | -5.6% | +4.5% |
| Guizhou Gas (Group) 600903.SS | China | $1.02B | -9% | -6% | 4% | 2.1× | 8.0% | +9.4% |
| Chongqing Gas 600917.SS | China | $1.07B | -12% | -4% | 0% | 0.8× | 15.0% | +8.6% |
| Chengdu Gas 603053.SS | China | $1.09B | -16% | -1% | 6% | 0.8× | -10.0% | +5.1% |
| Ascopiave ASC.MI | Italy | $699M | -8% | +34% | 26% | 4.5× | 4.4% | +8.3% |
| Henan Lantian Gas 605368.SS | China | $687M | -18% | -9% | 8% | 1.3× | 0.0% | +2.7% |
| Shaanxi Provincial Natural Gas 002267.SZ | China | $1.17B | -11% | +2% | 8% | 1.4× | -5.1% | +1.0% |
| Shenzhen Guangju Energy 000096.SZ | China | $634M | -18% | +4% | 4% | 2.8× | n/a | n/a |
| Shizuoka Gas 9543.T | Japan | $631M | -5% | 0% | 6% | 0.5× | -9.0% | +10.6% |
| Saibu Gas 9536.T | Japan | $630M | +23% | -6% | 5% | 1.4× | n/a | n/a |
| Anhui Province Natural Gas Development 603689.SS | China | $601M | -10% | -9% | 9% | 1.3× | 0.6% | +1.4% |
| K&O Energy 1663.T | Japan | $585M | -28% | -1% | 12% | 0.6× | -8.6% | +9.3% |
| Top Resource Energy 300332.SZ | China | $556M | -20% | -3% | 0% | 2.0× | 12.9% | +8.8% |
| Towngas Smart Energy 1083.HK | Hong Kong | $1.46B | -15% | +3% | 6% | 1.3× | 6.3% | +10.3% |
| Xinjiang East Universe (Group) Gas 603706.SS | China | $521M | -15% | -14% | 20% | 2.1× | -11.7% | +10.6% |
| SK Gas 018670.KS | South Korea | $1.55B | -19% | +27% | 4% | 0.2× | -17.3% | +11.7% |
| Xinjiang Xintai Natural Gas 603393.SS | China | $1.55B | -22% | +4% | 22% | 4.2× | -8.4% | +12.3% |
| Shandong Shengli 000407.SZ | China | $512M | -20% | 0% | 7% | 1.2× | -3.1% | -2.0% |
| Shanghai Dazhong Public Utilities (Group) 1635.HK | Hong Kong | $1.59B | -41% | +6% | 1% | 2.2× | n/a | n/a |