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Employees: 1,772
Size Zhejiang Zhengte (001238.SZ) is a China Consumer Discretionary company (Home Furnishings) with a market value of $506M, the 3835th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.75 on 6 Nov 2026.
Performance Over six months the shares fell 37.7%, against -14.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 24.4% over the last twelve months (peer median -5.6%); the operating margin is -0.2% (peer median -2.0%).
Valuation It trades at 48.3× forward earnings against a peer median of 22.1× (4th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +12 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 2.6 points below its cost of capital (8.0% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.93B | CN¥1.67B | CN¥1.23B | CN¥1.09B | CN¥1.38B |
| Revenue growth | — | +36% | +14% | -21% | — |
| Gross profit | CN¥445M | CN¥379M | CN¥280M | CN¥238M | CN¥270M |
| EBITDA | n/a | CN¥144M | CN¥53.6M | CN¥48.8M | CN¥115M |
| Net income | -CN¥38.9M | CN¥36.2M | -CN¥14.0M | CN¥16.9M | CN¥59.2M |
| Free cash flow | CN¥102M | -CN¥76.5M | -CN¥109M | CN¥3.63M | -CN¥60.8M |
| Capital expenditure | CN¥57.6M | CN¥70.1M | CN¥123M | CN¥60.7M | CN¥105M |
| Total debt | CN¥372M | CN¥565M | CN¥356M | CN¥96.5M | CN¥113M |
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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 | 001238.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.1% | -7.3% | 4th lowest of 21 |
| 6-month return | -37.7% | -14.0% | 2nd lowest of 21 |
| Distance from 52-week high | -47.9% | -38.2% | 6th lowest of 21 |
| Revenue growth (TTM) | +24.4% | -5.6% | highest of 21 |
| Operating margin | -0.2% | -2.0% | 11th highest of 21 |
| Forward P/E | 48.3× | 22.1× | 4th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 24.6% | 5.4% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +12.9% | +6.1% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | +11.7 pp | +4.3 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | -2.6 pp | -8.6 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Zhengte 001238.SZ | China | $506M | -38% | +24% | 0% | 48.3× | 24.6% | +12.9% |
| Ethan Allen Interiors ETD | United States | $506M | -2% | -6% | 8% | 16.4× | 3.3% | -3.3% |
| Sleemon Healthy Sleep Technology 603008.SS | China | $505M | -11% | -2% | 1% | 6.3× | 23.5% | +9.4% |
| AUPU Intelligent Technology 603551.SS | China | $503M | -27% | +5% | 13% | 14.1× | -5.6% | +3.3% |
| Hanssem 009240.KS | South Korea | $496M | -6% | -10% | 2% | 44.5× | 5.4% | -3.3% |
| Guangdong Piano Customized Furniture 002853.SZ | China | $520M | -30% | -30% | -23% | 30.6× | n/a | n/a |
| G-Tech Optoelectronics 3149.TW | Taiwan | $484M | +22% | +8% | -21% | 77.6× | n/a | n/a |
| Healthcare 603313.SS | China | $533M | -2% | +4% | 2% | n/a | -9.0% | +6.4% |
| Triumph New Energy 600876.SS | China | $478M | -25% | -39% | -76% | n/a | n/a | n/a |
| Keeson Technology 603610.SS | China | $550M | -39% | +11% | 2% | 22.1× | 10.4% | +6.1% |
| Guangzhou Holike Creative Home 603898.SS | China | $555M | -7% | -21% | -5% | n/a | n/a | n/a |
| GuangDong Topstrong Living Innovation & Integration 300749.SZ | China | $570M | -24% | -34% | -13% | n/a | n/a | n/a |
| Anhui Deli Household Glass 002571.SZ | China | $574M | -15% | -16% | -10% | n/a | n/a | n/a |
| DO & SHUIHUA 002798.SZ | China | $443M | -35% | -18% | -20% | n/a | 15.8% | -16.3% |
| Zhang Xiaoquan 301055.SZ | China | $597M | -13% | +15% | 5% | 56.7× | 27.1% | +12.4% |
| DFS Furniture DFS.L | United Kingdom | $420M | +12% | +3% | 7% | 9.0× | -2.5% | -0.1% |
| Guangzhou Shangpin Home Collection 300616.SZ | China | $419M | -30% | -21% | -20% | 238.5× | n/a | n/a |
| Guang Dong Sitong 603838.SS | China | $612M | +43% | +8% | -23% | n/a | n/a | n/a |
| Markor International Home Furnishings 600337.SS | China | $613M | +19% | -43% | -106% | n/a | n/a | n/a |
| Hebei Keli Automobile Equipment 301552.SZ | China | $418M | -29% | -5% | 21% | n/a | 9.0% | +31.2% |
| Shanghai Shuixing Home Textile 603365.SS | China | $621M | -29% | +2% | 10% | 9.6× | -12.9% | +8.2% |