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Liaoning-based steelmaker producing hot- and cold-rolled steel plate, part of Benxi Steel (Bengang) Group.
Liaoning-based steelmaker producing hot- and cold-rolled steel plate, part of Benxi Steel (Bengang) Group.
Sells flat steel at market prices, so what it keeps is the gap between selling prices and the cost of iron ore and coking coal. Hot-rolled and cold-rolled plate go to machinery, appliance and car makers. It is controlled by a state-owned steel group in Liaoning.
Moat: none (scale). Commodity flat steel; profitability tracks iron-ore/coking-coal spreads.
Headquarters: Benxi, China · Employees: 12,155
Size Bengang Steel Plates (000761.SZ) is a China Materials company (Steel) with a market value of $1.25B, the 1912th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.17 on 6 Nov 2026.
Performance Over six months the shares fell 26.4%, against -24.8% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 2.0% over the last twelve months (peer median -0.5%); the operating margin is -9.9% (peer median 1.4%).
Valuation It trades at 0.8× enterprise value to sales against a peer median of 1.3× (9th cheapest of 19).
Capital Return on invested capital runs 14.7 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥45.3B | CN¥46.4B | CN¥51.2B | CN¥57.9B | CN¥62.4B |
| Revenue growth | — | -9% | -12% | -7% | — |
| Gross profit | -CN¥3.11B | -CN¥2.24B | -CN¥3.56B | -CN¥592M | CN¥83.4M |
| EBITDA | -CN¥2.65B | -CN¥1.57B | -CN¥2.93B | CN¥328M | CN¥1.28B |
| Net income | -CN¥5.08B | -CN¥3.94B | -CN¥5.04B | -CN¥1.72B | -CN¥1.23B |
| Free cash flow | -CN¥2.74B | -CN¥4.00B | CN¥125M | CN¥3.35B | -CN¥428M |
| Capital expenditure | CN¥2.11B | CN¥2.22B | CN¥975M | CN¥995M | CN¥1.71B |
| Total debt | CN¥31.2B | CN¥28.5B | CN¥24.5B | CN¥19.9B | CN¥15.4B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Bengang Steel Plates 000761.SZ | $1.25B | -26% | -2% | -10% | 0.8× | n/a |
| Angang Steel 000898.SZ | $2.50B | -15% | -6% | -7% | 0.5× | n/a |
| Baoshan Iron & Steel 600019.SS | $19.9B | -3% | +6% | 3% | 0.5× | -9.6% |
| Maanshan Iron & Steel 600808.SS | $2.32B | -41% | -4% | 0% | 0.6× | 0.3% |
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 | 000761.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.7% | -5.2% | 9th lowest of 21 |
| 6-month return | -26.4% | -24.8% | 8th lowest of 20 |
| Distance from 52-week high | -44.8% | -42.9% | 9th lowest of 21 |
| Revenue growth (TTM) | -2.0% | -0.5% | 8th lowest of 19 |
| Operating margin | -9.9% | 1.4% | lowest of 19 |
| EV / Sales | 0.8× | 1.3× | 9th cheapest of 19 |
| ROIC minus cost of capital | -14.7 pp | -4.8 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bengang Steel Plates 000761.SZ | China | $1.25B | -26% | -2% | -10% | 0.8× | n/a | n/a |
| Gansu Jiu Steel Group Hongxing Iron & Steel 600307.SS | China | $1.25B | -25% | -6% | -5% | 1.3× | n/a | n/a |
| NMDC Steel NSLNISP.NS | India | $1.23B | -10% | +42% | 3% | 0.8× | 20.8% | +41.6% |
| Fushun Special Steel 600399.SS | China | $1.22B | -25% | +6% | -5% | 1.5× | n/a | n/a |
| Liuzhou Iron & Steel 601003.SS | China | $1.28B | -29% | 0% | 1% | 0.7× | -0.3% | +4.7% |
| Yongjin Technology 603995.SS | China | $1.28B | +22% | +11% | 2% | 0.3× | n/a | n/a |
| Beijing Lier High-Temperature Materials 002392.SZ | China | $1.20B | -29% | +16% | 4% | 1.3× | 15.4% | +10.2% |
| Xinyu Iron & Steel 600782.SS | China | $1.20B | -17% | -13% | -4% | 0.4× | n/a | n/a |
| Impro Precision Industries 1286.HK | Hong Kong | $1.30B | -52% | +20% | 18% | 2.0× | -1.6% | +11.7% |
| Guizhou Aviation Technical Development 688239.SS | China | $1.19B | -39% | +23% | 12% | 4.0× | 17.7% | +25.0% |
| YODOKO 5451.T | Japan | $1.31B | +1% | -2% | 6% | 0.8× | 0.3% | +6.0% |
| Zhongnanhong Culture 002445.SZ | China | $1.17B | -7% | -1% | 1% | 6.0× | n/a | n/a |
| Tokyo Steel Manufacturing 5423.T | Japan | $1.17B | -1% | -1% | -1% | 0.5× | n/a | n/a |
| HBIS Resources 000923.SZ | China | $1.33B | -19% | -5% | 0% | 1.9× | n/a | n/a |
| Gallantt Ispat GALLANTT.NS | India | $1.36B | -38% | +6% | 11% | 2.9× | 39.6% | +16.0% |
| Fangda Special Steel Technology 600507.SS | China | $1.38B | -32% | +8% | 3% | 0.6× | n/a | n/a |
| Vedanta Iron And Steel VISL.NS | India | $1.11B | n/a | n/a | n/a | n/a | n/a | n/a |
| Feng Hsin Steel 2015.TW | Taiwan | $1.11B | +4% | -12% | 0% | 1.3× | 9.2% | +1.2% |
| TSP Wind Power 300129.SZ | China | $1.10B | -42% | -26% | 1% | 2.5× | n/a | n/a |
| Jiangsu Shagang 002075.SZ | China | $1.09B | -25% | -4% | 1% | 0.6× | n/a | n/a |
| BCI Minerals BCI.AX | Australia | $1.09B | +45% | n/a | n/a | n/a | n/a | n/a |