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Makes spandex, nylon and TPU chemicals used as raw materials for stretch fabrics and industrial applications.
Makes spandex, nylon and TPU chemicals used as raw materials for stretch fabrics and industrial applications.
Spandex and TPU are sold as commodity materials by the tonne, so earnings track the gap between selling prices and input costs rather than steady contracts. Spandex prices swing with industry capacity additions. A move into the chemicals used to make nylon 66 is a long-term attempt to control a key input.
In one line: A Chinese Lycra/Invista for spandex feedstock chemicals.
Moat: narrow (scale, cost advantage). Large integrated capacity and backward integration into key feedstocks lower unit costs.
Headquarters: Pingyang, China · Founded: 1991 · Employees: 8,698
Size Huafon Chemical (002064.SZ) is a China Consumer Discretionary company (Textiles) with a market value of $7.15B, the 345th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.60 on 6 Nov 2026.
Performance Over six months the shares fell 18.4%, against -5.5% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 14 in its peer set.
Growth Revenue grew 13.0% over the last twelve months (peer median +14.2%); the operating margin is 14.1% (peer median 9.2%).
Valuation It trades at 12.0× forward earnings against a peer median of 16.6× (5th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.3 points above its cost of capital (8.1% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥27.9B | CN¥24.2B | CN¥26.9B | CN¥26.3B | CN¥25.8B |
| Revenue growth | — | -10% | +2% | +2% | — |
| Gross profit | CN¥6.44B | CN¥3.07B | CN¥3.58B | CN¥3.90B | CN¥4.49B |
| EBITDA | n/a | CN¥3.46B | CN¥3.95B | CN¥3.72B | CN¥3.83B |
| Net income | CN¥3.50B | CN¥1.86B | CN¥2.22B | CN¥2.48B | CN¥2.84B |
| Free cash flow | CN¥1.48B | CN¥2.04B | CN¥1.75B | CN¥753M | -CN¥31.6M |
| Capital expenditure | CN¥1.48B | CN¥1.72B | CN¥1.29B | CN¥1.72B | CN¥2.61B |
| Total debt | CN¥4.81B | CN¥5.97B | CN¥5.71B | CN¥6.94B | CN¥6.26B |
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 |
|---|---|---|---|---|---|---|
| Huafon Chemical 002064.SZ | $7.15B | -18% | +13% | 14% | 12.0× | -0.3% |
| Hyosung 004800.KS | $1.42B | -49% | +10% | 15% | 6.2× | n/a |
| Zhejiang NHU 002001.SZ | $12.3B | -23% | +11% | 33% | 9.9× | -7.8% |
| Wanhua Chemical 600309.SS | $34.1B | -19% | +37% | 11% | 11.3× | -2.6% |
| Huntsman HUN | $1.66B | -37% | +6% | 0% | 353.8× | 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 | 002064.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.7% | -10.7% | 6th highest of 14 |
| 6-month return | -18.4% | -5.5% | 6th lowest of 14 |
| Distance from 52-week high | -31.3% | -21.1% | 6th lowest of 14 |
| Revenue growth (TTM) | +13.0% | +14.2% | 7th lowest of 14 |
| Operating margin | 14.1% | 9.2% | 5th highest of 14 |
| Forward P/E | 12.0× | 16.6× | 5th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -0.3% | 3.3% | 5th least demanding of 11 |
| Growth delivered (Del g) | +10.5% | +5.6% | 4th highest of 11 |
| Hurdle (Req g minus delivered) | -10.8 pp | +0.9 pp | 5th least demanding of 11 |
| ROIC minus cost of capital | +7.3 pp | +1.7 pp | 2nd highest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huafon Chemical 002064.SZ | China | $7.15B | -18% | +13% | 14% | 12.0× | -0.3% | +10.5% |
| Hengyi Petrochemical 000703.SZ | China | $7.21B | -30% | +21% | 9% | 5.0× | -6.6% | +5.6% |
| Tongkun 601233.SS | China | $8.35B | -3% | +21% | 5% | 6.8× | -1.4% | +15.4% |
| Sinoma Science & Technology 002080.SZ | China | $8.76B | -40% | +18% | 9% | 19.5× | n/a | n/a |
| Inner Mongolia ERDOS Resources 600295.SS | China | $5.49B | -5% | +2% | 9% | 14.1× | -9.2% | +2.2% |
| Grace Fabric Technology 603256.SS | China | $10.6B | -36% | +115% | 44% | 57.2× | n/a | n/a |
| Toray Industries 3402.T | Japan | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% | +6.5% |
| Xinfengming 603225.SS | China | $4.54B | -2% | +22% | 4% | 9.7× | -3.9% | +14.1% |
| Nitto Boseki 3110.T | Japan | $2.85B | -58% | +12% | 20% | 19.3× | n/a | n/a |
| HMT (Xiamen) New Technical Materials 603306.SS | China | $2.18B | -56% | -1% | 0% | 57.4× | 50.6% | +21.4% |
| Coats COA.L | United Kingdom | $2.14B | +2% | +5% | 15% | 11.2× | 11.6% | +4.1% |
| OC Oerlikon OERL.SW | Switzerland | $1.99B | +41% | -21% | 8% | 15.8× | 1.0% | -7.0% |
| Albany International AIN | United States | $1.91B | +8% | +14% | 13% | 22.5× | 8.5% | +5.6% |
| North Chemical Industries 002246.SZ | China | $1.80B | -10% | +17% | 15% | 28.4× | 8.3% | +3.0% |