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Chinese maker of plastic products, likely pipes or packaging materials.
Chinese maker of plastic products, likely pipes or packaging materials.
Moat: none
Headquarters: Cangzhou, China · Employees: 2,361
Size Cangzhou Mingzhu Plastic (002108.SZ) is a China Industrials company (Miscellaneous Manufacturing) with a market value of $1.10B, the 2121st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.03 on 6 Nov 2026.
Performance Over six months the shares fell 28.3%, against -16.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 13.9% over the last twelve months (peer median +5.9%); the operating margin is 5.5% (peer median 10.7%).
Valuation It trades at 3.0× enterprise value to sales against a peer median of 2.6× (8th most expensive of 21).
Capital Return on invested capital runs 3.8 points below its cost of capital (7.5% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.25B | CN¥2.84B | CN¥2.72B | CN¥2.61B | CN¥2.80B |
| Revenue growth | — | +5% | +4% | -7% | — |
| Gross profit | CN¥611M | CN¥326M | CN¥259M | CN¥356M | CN¥424M |
| EBITDA | n/a | CN¥373M | CN¥296M | CN¥330M | CN¥428M |
| Net income | CN¥210M | CN¥154M | CN¥155M | CN¥273M | CN¥281M |
| Free cash flow | -CN¥802M | -CN¥791M | -CN¥408M | -CN¥535M | -CN¥459M |
| Capital expenditure | CN¥1.04B | CN¥981M | CN¥457M | CN¥909M | CN¥772M |
| Total debt | CN¥2.86B | CN¥2.36B | CN¥1.50B | CN¥1.13B | CN¥993M |
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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 | 002108.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.6% | -8.8% | 9th highest of 21 |
| 6-month return | -28.3% | -16.7% | 7th lowest of 21 |
| Distance from 52-week high | -37.4% | -36.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +13.9% | +5.9% | 6th highest of 21 |
| Operating margin | 5.5% | 10.7% | 6th lowest of 21 |
| EV / Sales | 3.0× | 2.6× | 8th most expensive of 21 |
| ROIC minus cost of capital | -3.8 pp | -0.8 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cangzhou Mingzhu Plastic 002108.SZ | China | $1.10B | -28% | +14% | 5% | 3.0× | n/a | n/a |
| Suzhou Victory Precision Manufacture 002426.SZ | China | $1.17B | -41% | +7% | -20% | 2.6× | 30.8% | -18.0% |
| INDUS INH.DE | Germany | $1.03B | +11% | +8% | 13% | 0.8× | -6.8% | +2.2% |
| China Lesso 2128.HK | Hong Kong | $1.20B | -42% | -5% | 13% | 1.2× | -4.5% | -3.5% |
| Shanghai Hajime Advanced Material Technology 301000.SZ | China | $986M | -1% | +4% | 16% | 7.5× | n/a | n/a |
| Shanghai Yanpu Precision Technology (Group) 605128.SS | China | $978M | -9% | +3% | 9% | 2.5× | 15.4% | +25.0% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 2.9× | 18.0% | +14.5% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 0.8× | -5.4% | +2.5% |
| Finolex Industries FINPIPE.NS | India | $932M | -20% | +3% | 14% | 1.6× | 13.0% | +3.5% |
| Jiangsu Changhai Composite Materials 300196.SZ | China | $897M | -25% | +3% | 11% | 2.0× | 3.8% | +9.0% |
| Genuit GEN.L | United Kingdom | $897M | +8% | +4% | 12% | 1.4× | 12.4% | +8.6% |
| Shanghai PRET Composites 002324.SZ | China | $1.36B | -44% | +27% | 1% | 1.2× | n/a | n/a |
| Shenzhen Jame Technology 300868.SZ | China | $878M | -36% | +8% | -7% | 8.1× | n/a | n/a |
| Blue Sail Medical 002382.SZ | China | $861M | -24% | +23% | 7% | 1.3× | -6.5% | -6.1% |
| Riverstone AP4.SI | Singapore | $824M | -13% | -4% | 25% | 2.9× | 2.1% | -12.8% |
| Zhejiang Goldensea Hi-Tech 603311.SS | China | $823M | +28% | +3% | 7% | 5.8× | n/a | n/a |
| Xiamen Voke Mold & Plastic Engineering 301196.SZ | China | $1.48B | -34% | +34% | 12% | 3.2× | 19.6% | +19.4% |
| Zhejiang Kaier New Materials 300234.SZ | China | $816M | +73% | -17% | -9% | 18.4× | n/a | n/a |
| Vesuvius VSVS.L | United Kingdom | $1.49B | +2% | +2% | 7% | 0.9× | 8.2% | +4.4% |
| Jinfu Technology 003018.SZ | China | $1.51B | -30% | +85% | 26% | 6.9× | 18.0% | +8.2% |
| Hubei Huaqiang High-Tech 688151.SS | China | $800M | -22% | +13% | -5% | 3.8× | 47.9% | -5.6% |