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Large Chinese paper and pulp manufacturer expanding into dissolving pulp and man-made cellulosic fiber.
Large Chinese paper and pulp manufacturer expanding into dissolving pulp and man-made cellulosic fiber.
Sells paper by the tonne to packaging and printing customers, so income follows the gap between paper prices and fibre costs. It makes much of its own pulp, which lessens exposure to pulp-price swings, and a newer line sells dissolving pulp, a chemical-grade pulp for textile fibre.
In one line: A Chinese International Paper with a fiber (lyocell) push.
Moat: narrow (scale, cost advantage). Large integrated pulp-and-paper capacity gives cost scale versus smaller domestic mills.
Headquarters: Yanzhou, China · Founded: 1965 · Employees: 18,196
Size Shandong Sunpaper (002078.SZ) is a China Materials company (Pulp & Paper) with a market value of $6.02B, the 415th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.12 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against +6.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 12 in its peer set.
Growth Revenue grew 9.3% over the last twelve months (peer median +0.9%); the operating margin is 11.0% (peer median 8.3%).
Valuation It trades at 10.4× forward earnings against a peer median of 16.9× (3rd cheapest of 12).
Capital Return on invested capital runs 4.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥42.2B | CN¥39.1B | CN¥40.7B | CN¥39.5B | CN¥39.7B |
| Revenue growth | — | -4% | +3% | -1% | — |
| Gross profit | CN¥8.43B | CN¥5.71B | CN¥6.20B | CN¥5.94B | CN¥5.74B |
| EBITDA | n/a | CN¥6.76B | CN¥6.80B | CN¥6.21B | CN¥5.96B |
| Net income | CN¥3.67B | CN¥3.25B | CN¥3.10B | CN¥3.09B | CN¥2.81B |
| Free cash flow | -CN¥363M | -CN¥2.98B | CN¥2.89B | CN¥1.83B | -CN¥895M |
| Capital expenditure | CN¥6.57B | CN¥7.93B | CN¥5.58B | CN¥4.77B | CN¥4.71B |
| Total debt | CN¥23.0B | CN¥20.9B | CN¥17.5B | CN¥18.0B | CN¥18.9B |
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 Sunpaper 002078.SZ | $6.02B | -4% | +9% | 11% | 10.4× | n/a |
| Nine Dragons Paper 2689.HK | $2.76B | -29% | +22% | 9% | 4.4× | n/a |
| Lee & Man Paper Manufacturing 2314.HK | $1.77B | -4% | +14% | 9% | 5.5× | 1.0% |
| International Paper IP | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% |
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 | 002078.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | +3.8% | 6th lowest of 12 |
| 6-month return | -4.0% | +6.1% | 5th lowest of 12 |
| Distance from 52-week high | -20.1% | -18.6% | 5th lowest of 12 |
| Revenue growth (TTM) | +9.3% | +0.9% | 2nd highest of 12 |
| Operating margin | 11.0% | 8.3% | 3rd highest of 12 |
| Forward P/E | 10.4× | 16.9× | 3rd cheapest of 12 |
| ROIC minus cost of capital | +4.4 pp | -2.5 pp | 2nd highest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Sunpaper 002078.SZ | China | $6.02B | -4% | +9% | 11% | 10.4× | n/a | n/a |
| Holmen HOLM-A.ST | Sweden | $4.73B | -1% | -5% | 9% | 22.2× | 7.7% | +6.2% |
| Svenska Cellulosa AB SCA SCA-A.ST | Sweden | $8.72B | +21% | -3% | 6% | 33.7× | 30.3% | +2.1% |
| Suzano S.A. Sponsored ADR SUZ | United States | $12.0B | +9% | +1% | 19% | 16.9× | 3.2% | +8.7% |
| UPM-Kymmene UPM.HE | Finland | $13.3B | -11% | -6% | 8% | 18.2× | 6.1% | +2.3% |
| Avery Dennison AVY | United States | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% | +4.9% |
| Rengo 3941.T | Japan | $2.29B | +18% | +4% | 4% | 11.0× | n/a | n/a |
| Billerud BILL.ST | Sweden | $2.24B | +35% | -9% | -1% | 70.1× | 24.9% | +11.2% |
| International Paper IP | United States | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% | +6.1% |
| Xianhe 603733.SS | China | $1.94B | -28% | +9% | 10% | 10.9× | n/a | n/a |
| Lee & Man Paper Manufacturing 2314.HK | Hong Kong | $1.77B | -4% | +14% | 9% | 5.5× | 1.0% | +0.6% |
| Sylvamo SLVM | United States | $1.57B | -4% | -7% | 6% | 9.6× | n/a | n/a |