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Chinese brand-licensing company that rents out its "Nanjiren"/South Pole apparel brand to third-party makers and sellers for royalties.
Chinese brand-licensing company that rents out its "Nanjiren"/South Pole apparel brand to third-party makers and sellers for royalties.
Collects licensing fees from sellers who put the Nanjiren brand on goods sold through online platforms, so income follows the sellers' sales rather than its own inventory. Because the licensed goods are made by others, product quality and platform rules affect the brand.
In one line: A Chinese licensing-only apparel brand, like IZOD/Cherokee's owner.
Moat: narrow (brand). Recognized value brand licensed widely, though licensing model has weak quality control.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 306
Size NanJi E-Commerce (002127.SZ) is a China Consumer Discretionary company (Internet Retail) with a market value of $1.05B, the 2204th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.99 on 6 Nov 2026.
Performance Over six months the shares fell 1.3%, against +5.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 27.6% over the last twelve months (peer median +3.4%); the operating margin is -12.3% (peer median 3.4%).
Valuation It trades at 29.9× forward earnings against a peer median of 24.8× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is -9%, so the hurdle is +15 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 18.4 points below its cost of capital (6.4% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.13B | CN¥2.60B | CN¥3.36B | CN¥2.68B | CN¥3.30B |
| Revenue growth | — | -23% | +25% | -19% | — |
| Gross profit | CN¥293M | CN¥331M | CN¥503M | CN¥414M | CN¥565M |
| EBITDA | n/a | CN¥12.4M | -CN¥214M | CN¥92.1M | CN¥129M |
| Net income | -CN¥250M | -CN¥282M | -CN¥237M | CN¥112M | -CN¥298M |
| Free cash flow | CN¥201M | CN¥81.0M | -CN¥136M | CN¥440M | CN¥311M |
| Capital expenditure | CN¥10.4M | CN¥7.40M | CN¥2.98M | CN¥12.5M | CN¥321M |
| Total debt | CN¥21.3M | CN¥162M | CN¥174M | CN¥215M | CN¥104M |
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 |
|---|---|---|---|---|---|---|
| NanJi E-Commerce 002127.SZ | $1.05B | -1% | -28% | -12% | 29.9× | 6.4% |
| HLA 600398.SS | $4.47B | -6% | +7% | 11% | 14.3× | -13.1% |
| Zhejiang Semir Garment 002563.SZ | $2.42B | -1% | +4% | 7% | 14.8× | -8.1% |
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 | 002127.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.4% | -1.4% | 8th highest of 21 |
| 6-month return | -1.3% | +5.7% | 9th lowest of 21 |
| Distance from 52-week high | -21.3% | -26.3% | 8th highest of 21 |
| Revenue growth (TTM) | -27.6% | +3.4% | lowest of 21 |
| Operating margin | -12.3% | 3.4% | 2nd lowest of 21 |
| Forward P/E | 29.9× | 24.8× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 6.4% | 7.4% | 6th least demanding of 13 |
| Growth delivered (Del g) | -9.0% | +11.1% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | +15.4 pp | +1.3 pp | 4th most demanding of 13 |
| ROIC minus cost of capital | -18.4 pp | -2.4 pp | 3rd lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NanJi E-Commerce 002127.SZ | China | $1.05B | -1% | -28% | -12% | 29.9× | 6.4% | -9.0% |
| IndiaMART InterMESH INDIAMART.NS | India | $985M | -26% | +12% | 34% | 17.0× | 8.2% | +18.6% |
| Huakai Yibai Technology 300592.SZ | China | $966M | +27% | -11% | 7% | 15.7× | 3.4% | +132.3% |
| Akso Health Group Sponsored ADR AHG | United States | $1.14B | -34% | -6% | -29% | n/a | n/a | n/a |
| Vedant Fashions MANYAVAR.NS | India | $1.22B | +6% | +2% | 32% | 29.6× | 21.4% | +21.5% |
| THG THG.L | United Kingdom | $877M | +30% | +10% | -1% | n/a | n/a | n/a |
| Petco Health & Wellness WOOF | United States | $848M | +5% | -1% | 3% | 12.5× | 6.6% | +3.9% |
| Guangzhou Ruoyuchen Technology 003010.SZ | China | $1.31B | -8% | +75% | 10% | 23.0× | 1.7% | +24.7% |
| Hangzhou Onechance Tech Crop 300792.SZ | China | $839M | -32% | -19% | 9% | 46.2× | 19.9% | -3.7% |
| Revolve RVLV | United States | $1.32B | -11% | +15% | 6% | 20.4× | n/a | n/a |
| Aucnet 3964.T | Japan | $824M | +12% | +12% | 15% | 15.5× | 0.1% | +21.6% |
| Liquidity Services LQDT | United States | $1.37B | +21% | +5% | 9% | 24.8× | 16.2% | +18.3% |
| LuxExperience B.V. Sponsored ADR LUXE | United States | $1.40B | +20% | +111% | -6% | 194.0× | n/a | n/a |
| Global Top E-Commerce 002640.SZ | China | $757M | -12% | -6% | 1% | n/a | 33.4% | -19.8% |
| AO World AO..L | United Kingdom | $687M | +6% | +11% | 4% | 13.3× | 3.0% | -5.3% |
| RealReal REAL | United States | $1.61B | +25% | +18% | 0% | 47.8× | n/a | n/a |
| ASKUL 2678.T | Japan | $682M | +2% | -20% | -5% | 29.2× | n/a | n/a |
| Yiwu Huading Nylon 601113.SS | China | $670M | -28% | -5% | 1% | 41.2× | n/a | n/a |
| ASOS ASC.L | United Kingdom | $670M | +88% | -15% | -1% | n/a | 1.2% | -5.5% |
| Groupon GRPN | United States | $630M | -13% | +2% | 2% | 33.7× | 27.5% | -18.9% |
| Belluna 9997.T | Japan | $629M | +22% | +5% | 8% | n/a | n/a | n/a |