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Chinese corn-seed breeder and producer, one of the country's established hybrid-corn seed brands.
Chinese corn-seed breeder and producer, one of the country's established hybrid-corn seed brands.
Breeds hybrid corn varieties, has farmers contract-grow its seed, and sells the finished seed to distributors ahead of each planting season, so sales concentrate around one season and lean on a few popular varieties such as Denghai 605. National variety approvals and crop prices shape farmers' choices.
Moat: narrow (IP / patents, brand). Established hybrid-corn germplasm and brand recognition among Chinese farmers.
Headquarters: Laizhou, Shandong, China · Employees: 803
Size Shandong Denghai Seeds (002041.SZ) is a China Consumer Staples company (Agricultural Commodities/Milling) with a market value of $1.19B, the 1975th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.03 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -11.4% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 1.1% over the last twelve months (peer median +1.4%); the operating margin is 2.6% (peer median 3.8%).
Valuation It trades at 58.9× forward earnings against a peer median of 12.2× (most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +19 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 0.3 points below its cost of capital (7.1% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.17B | CN¥1.10B | CN¥1.25B | CN¥1.55B | CN¥1.33B |
| Revenue growth | — | -12% | -20% | +17% | — |
| Gross profit | CN¥391M | CN¥296M | CN¥324M | CN¥421M | CN¥395M |
| EBITDA | n/a | CN¥85.0M | CN¥12.5M | CN¥246M | CN¥269M |
| Net income | CN¥98.5M | CN¥91.7M | CN¥56.6M | CN¥256M | CN¥253M |
| Free cash flow | CN¥226M | CN¥134M | CN¥42.1M | CN¥111M | CN¥19.3M |
| Capital expenditure | CN¥140M | CN¥146M | CN¥135M | CN¥119M | CN¥79.9M |
| Total debt | CN¥31.8M | CN¥52.2M | CN¥40.1M | CN¥28.8M | CN¥29.9M |
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 |
|---|---|---|---|---|---|---|
| Shandong Denghai Seeds 002041.SZ | $1.19B | -12% | -1% | 3% | 58.9× | 23.5% |
| Yuan Longping High-Tech Agriculture 000998.SZ | $1.77B | -11% | -5% | 5% | 46.5× | 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 | 002041.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.9% | -3.1% | 4th lowest of 21 |
| 6-month return | -11.8% | -11.4% | 10th lowest of 21 |
| Distance from 52-week high | -28.3% | -24.2% | 9th lowest of 21 |
| Revenue growth (TTM) | -1.1% | +1.4% | 7th lowest of 21 |
| Operating margin | 2.6% | 3.8% | 9th lowest of 21 |
| Forward P/E | 58.9× | 12.2× | most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 23.5% | 6.8% | 2nd most demanding of 9 |
| Growth delivered (Del g) | +4.2% | +9.6% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | +19.2 pp | +0.8 pp | 2nd most demanding of 9 |
| ROIC minus cost of capital | -0.3 pp | -4.1 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Denghai Seeds 002041.SZ | China | $1.19B | -12% | -1% | 3% | 58.9× | 23.5% | +4.2% |
| Leshan Giantstar Farming & Husbandry 603477.SS | China | $1.19B | -19% | -2% | -15% | n/a | n/a | n/a |
| M.P. Evans MPE.L | United Kingdom | $1.20B | -5% | +1% | 39% | 9.7× | -9.7% | +15.6% |
| Godrej Agrovet GODREJAGRO.NS | India | $1.23B | +3% | +9% | 6% | 21.7× | 15.1% | +10.3% |
| Dekon Food And Agriculture 2419.HK | Hong Kong | $1.16B | -16% | -10% | -6% | n/a | -5.0% | +22.4% |
| Great Wall Enterprise 1210.TW | Taiwan | $1.28B | -4% | +2% | 4% | 12.0× | n/a | n/a |
| Del Monte DMC | United States | $1.29B | -27% | +1% | 4% | 12.1× | n/a | n/a |
| Adecoagro AGRO | United States | $1.30B | -31% | +7% | 2% | 5.3× | 37.5% | +12.1% |
| Fujian Aonong Biological Technology Group Incorporation 603363.SS | China | $1.09B | -21% | +12% | -8% | n/a | n/a | n/a |
| Xinjiang Guannong 600251.SS | China | $1.09B | -27% | -32% | -4% | 9.4× | n/a | n/a |
| Beijing Shunxin Agriculture 000860.SZ | China | $1.36B | -4% | -20% | -5% | n/a | n/a | n/a |
| China Modern Dairy 1117.HK | Hong Kong | $1.37B | +3% | +5% | -15% | 12.5× | n/a | n/a |
| Avanti Feeds AVANTIFEED.NS | India | $1.02B | -51% | +11% | 9% | 22.3× | 17.1% | +8.0% |
| Mission Produce AVO | United States | $1.02B | -11% | -6% | 4% | 16.4× | n/a | n/a |
| Juewei Food 603517.SS | China | $1.01B | -13% | -8% | 3% | 31.3× | n/a | n/a |
| KRBL KRBL.NS | India | $990M | +8% | 0% | 16% | 12.1× | 4.2% | +8.8% |
| Kernel KER.WA | Poland | $1.47B | 0% | -1% | 5% | 5.4× | 8.0% | -5.4% |
| Gansu Yasheng Industrial (Group) 600108.SS | China | $961M | -24% | -1% | 2% | n/a | n/a | n/a |
| Elders ELD.AX | Australia | $955M | -12% | +11% | 4% | 12.3× | 5.6% | +8.9% |
| Hainan Shennong Seed Industry Technology 300189.SZ | China | $946M | -11% | +17% | 4% | n/a | n/a | n/a |
| Balrampur Chini Mills BALRAMCHIN.NS | India | $1.50B | +28% | +11% | 9% | 19.5× | n/a | n/a |