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Efficient, low-cost Chinese cement producer expanding overseas, including Indonesia, alongside its Gansu home base.
Efficient, low-cost Chinese cement producer expanding overseas, including Indonesia, alongside its Gansu home base.
Moat: narrow (cost advantage, scale). Known for some of the lowest production costs in the Chinese cement industry.
Headquarters: Pingliang, Gansu, China · Employees: 2,380
Size Gansu Shangfeng Materials (000672.SZ) is a China Materials company (Construction Materials) with a market value of $1.88B, the 1329th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.12 on 6 Nov 2026.
Performance Over six months the shares fell 6.3%, against -19.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue fell 22.7% over the last twelve months (peer median +0.6%); the operating margin is 7.2% (peer median 9.8%).
Valuation It trades at 4.5× forward earnings against a peer median of 13.7× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is +16 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 3.4 points below its cost of capital (7.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.05B | CN¥4.67B | CN¥5.43B | CN¥6.38B | CN¥7.11B |
| Revenue growth | — | -14% | -15% | -10% | — |
| Gross profit | CN¥1.30B | CN¥1.17B | CN¥1.21B | CN¥1.54B | CN¥2.20B |
| EBITDA | n/a | CN¥1.24B | CN¥1.33B | CN¥1.41B | CN¥1.98B |
| Net income | CN¥3.42B | CN¥638M | CN¥627M | CN¥744M | CN¥949M |
| Free cash flow | CN¥334M | CN¥949M | CN¥873M | CN¥222M | -CN¥40.3M |
| Capital expenditure | CN¥362M | CN¥191M | CN¥245M | CN¥915M | CN¥1.11B |
| Total debt | CN¥5.22B | CN¥4.79B | CN¥5.71B | CN¥5.73B | CN¥4.50B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Gansu Shangfeng Materials 000672.SZ | $1.88B | -6% | -23% | 7% | 4.5× | 10.2% |
| Anhui Conch Cement 600585.SS | $13.9B | -12% | -8% | 4% | 19.4× | -7.7% |
| Huaxin Building Materials 600801.SS | $7.16B | +28% | +16% | 18% | 14.8× | -10.9% |
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 | 000672.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.7% | +0.9% | 3rd lowest of 21 |
| 6-month return | -6.3% | -19.7% | 9th highest of 20 |
| Distance from 52-week high | -46.7% | -36.3% | 7th lowest of 21 |
| Revenue growth (TTM) | -22.7% | +0.6% | lowest of 21 |
| Operating margin | 7.2% | 9.8% | 9th lowest of 20 |
| Forward P/E | 4.5× | 13.7× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 10.2% | 6.1% | 5th most demanding of 15 |
| Growth delivered (Del g) | -6.1% | +6.4% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +16.3 pp | -3.3 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | -3.4 pp | -2.9 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gansu Shangfeng Materials 000672.SZ | China | $1.88B | -6% | -23% | 7% | 4.5× | 10.2% | -6.1% |
| BBMG 2009.HK | Hong Kong | $1.87B | -20% | -22% | -4% | n/a | 42.3% | -4.0% |
| SigmaRoc SRC.L | United Kingdom | $1.95B | +14% | +4% | 15% | 12.1× | 12.4% | +52.8% |
| Sichuan Hexie Shuangma 000935.SZ | China | $1.98B | -35% | -14% | 15% | 13.8× | n/a | n/a |
| YOUNGY 002192.SZ | China | $2.03B | -52% | +315% | 60% | n/a | 4.9% | +16.8% |
| CCCC Design And Consulting 600720.SS | China | $1.73B | -24% | -10% | 12% | 9.7× | n/a | n/a |
| Titan America TTAM | United States | $2.08B | -32% | +5% | 15% | 10.5× | 1.0% | +6.9% |
| Breedon BREE.L | United Kingdom | $1.60B | +17% | +8% | 7% | 12.2× | 10.1% | +13.0% |
| Imerys NK.PA | France | $2.41B | +11% | -2% | 6% | 15.4× | 7.4% | -2.3% |
| Fsilon Furnishing and Construction Materials 605318.SS | China | $1.36B | -29% | -15% | -5% | 3,613.5× | n/a | n/a |
| BBMG Jidong Cement 000401.SZ | China | $1.35B | -21% | -8% | n/a | n/a | 37.1% | -7.0% |
| Guangdong Tapai 002233.SZ | China | $1.34B | -10% | -11% | 7% | 20.3× | -15.3% | -10.2% |
| Cementos Molins CMO.MC | Spain | $2.70B | n/a | +14% | 12% | 13.6× | 8.9% | +12.5% |
| Cementir CEM.MI | Italy | $2.70B | +5% | -2% | 13% | 12.8× | 4.3% | +6.0% |
| West China Cement 2233.HK | Hong Kong | $1.30B | -29% | -10% | 15% | 11.1× | n/a | n/a |
| FangDa Carbon New Material 600516.SS | China | $2.74B | -20% | +17% | -4% | 226.5× | n/a | n/a |
| China National Building Material 3323.HK | Hong Kong | $2.76B | -51% | 0% | 2% | 25.2× | 25.1% | -7.7% |
| Caltagirone CALT.MI | Italy | $1.26B | +1% | +10% | 10% | n/a | 0.9% | +10.5% |
| Shandong Fiberglass 605006.SS | China | $1.25B | +10% | +31% | 5% | 64.0× | n/a | n/a |
| Taiheiyo Cement 5233.T | Japan | $3.03B | +19% | +1% | 8% | 7.7× | 0.8% | +0.8% |
| Cementos Pacasmayo SAA Sponsored ADR CPAC | United States | $1.16B | +20% | +21% | 25% | 22.2× | -9.8% | +9.9% |