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Chinese tire and rubber-products manufacturer based in Haian, Jiangsu.
Chinese tire and rubber-products manufacturer based in Haian, Jiangsu.
Moat: none. Small competitive tire maker without a clear structural advantage.
Headquarters: Haian, Jiangsu, China · Employees: 1,607
Size Haian Rubber (001233.SZ) is a China Consumer Discretionary company (Automotive Aftermarket) with a market value of $1.82B, the 1377th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥66.12 on 6 Nov 2026.
Performance Over six months the shares gained 9.1%, against -10.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 3.6% over the last twelve months (peer median +5.2%); the operating margin is 23.1% (peer median 7.9%).
Valuation It trades at 25.6× forward earnings against a peer median of 16.5× (4th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.42B | CN¥2.22B | CN¥2.30B | CN¥2.25B | CN¥1.51B |
| Revenue growth | — | -4% | +2% | +49% | — |
| Gross profit | n/a | CN¥956M | CN¥1.09B | CN¥1.04B | CN¥565M |
| EBITDA | n/a | CN¥924M | CN¥1.05B | CN¥1.01B | CN¥579M |
| Net income | CN¥416M | CN¥560M | CN¥679M | CN¥654M | CN¥354M |
| Free cash flow | CN¥193M | CN¥188M | CN¥35.1M | CN¥336M | CN¥121M |
| Capital expenditure | CN¥212M | CN¥160M | CN¥445M | CN¥292M | CN¥366M |
| Total debt | CN¥841M | CN¥444M | CN¥377M | CN¥486M | CN¥464M |
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 |
|---|---|---|---|---|---|---|
| Haian Rubber 001233.SZ | $1.82B | +9% | -4% | 23% | 25.6× | 1.8% |
| Zhongce Rubber Group Co., Ltd. A 603049.SS | $2.70B | -19% | +14% | 8% | 9.7× | n/a |
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 | 001233.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +48.9% | -0.3% | highest of 21 |
| 6-month return | +9.1% | -10.5% | 4th highest of 21 |
| Distance from 52-week high | -33.9% | -29.2% | 7th lowest of 21 |
| Revenue growth (TTM) | -3.6% | +5.2% | 2nd lowest of 21 |
| Operating margin | 23.1% | 7.9% | highest of 21 |
| Forward P/E | 25.6× | 16.5× | 4th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.8% | -1.6% | 7th most demanding of 15 |
| Growth delivered (Del g) | +13.7% | +9.3% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | -11.9 pp | -8.8 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +10.7 pp | +0.7 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Haian Rubber 001233.SZ | China | $1.82B | +9% | -4% | 23% | 25.6× | 1.8% | +13.7% |
| CEAT CEATLTD.NS | India | $1.52B | +6% | +24% | 7% | 31.0× | 24.9% | +15.5% |
| Nokian Renkaat TYRES.HE | Finland | $2.21B | +37% | +5% | 6% | 27.4× | 19.4% | +0.9% |
| Qingdao Doublestar 000599.SZ | China | $1.45B | -34% | +390% | 8% | n/a | -2.9% | +1.0% |
| Shandong Linglong Tyre 601966.SS | China | $2.32B | -19% | +8% | 3% | 50.3× | -0.4% | +6.0% |
| Triangle Tyre 601163.SS | China | $1.38B | -21% | +2% | 5% | 18.2× | -7.2% | +2.9% |
| Qingdao Sentury Tire 002984.SZ | China | $2.62B | -25% | +2% | 8% | 16.7× | 3.4% | +12.8% |
| Goodyear Tire & Rubber GT | United States | $1.26B | -33% | -4% | 3% | n/a | 5.9% | +8.2% |
| TS Tech 7313.T | Japan | $1.25B | -3% | 0% | 2% | 23.3× | n/a | n/a |
| Zhongce Rubber Group Co., Ltd. A 603049.SS | China | $2.70B | -19% | +14% | 8% | 9.7× | n/a | n/a |
| Apollo Tyres APOLLOTYRE.NS | India | $2.80B | +1% | +14% | 8% | 16.6× | 15.6% | +10.7% |
| Cheng Shin Rubber Ind 2105.TW | Taiwan | $2.95B | -3% | -1% | 9% | 20.3× | -9.3% | -1.2% |
| Kumhotire 073240.KS | South Korea | $1.12B | -9% | +2% | 12% | 4.2× | n/a | n/a |
| JK Tyre & Industries JKTYRE.NS | India | $1.10B | -12% | +13% | 7% | 20.6× | n/a | n/a |
| XPEL XPEL | United States | $1.06B | -12% | +13% | 14% | 16.5× | n/a | n/a |
| Toyo Tire 5105.T | Japan | $3.17B | +6% | +4% | 15% | 8.2× | -7.3% | +11.6% |
| Standard Motor Products SMP | United States | $993M | +10% | +6% | 11% | 9.3× | -8.5% | +9.7% |
| Sumitomo Rubber Industries 5110.T | Japan | $3.40B | +1% | +5% | 8% | 9.8× | -3.3% | +8.8% |
| Guizhou Tyre 000589.SZ | China | $974M | -18% | +8% | 8% | 8.7× | n/a | n/a |
| Jiangsu General Science Technology 601500.SS | China | $831M | -25% | +11% | 5% | 14.6× | -3.5% | +19.8% |
| Dorman Products DORM | United States | $4.03B | +10% | +2% | 16% | 15.8× | 4.3% | +14.3% |