Chinese producer of propylene via propane dehydrogenation (PDH), supplying petrochemical feedstock.
Chinese producer of propylene via propane dehydrogenation (PDH), supplying petrochemical feedstock.
Buys propane, much of it imported, converts it into propylene and sells the product, so earnings depend on the gap between propylene and propane prices, not on volume alone. A storage line adds fee income.
In one line: A China-based PDH/propylene producer.
Moat: none (scale). Commodity petrochemical feedstock producer exposed to propane-propylene spreads.
Headquarters: Zhejiang, China · Employees: 1,453
Size Oriental Energy (002221.SZ) is a China Energy company (Oil & Gas Production) with a market value of $1.17B, the 2023rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.17 on 6 Nov 2026.
Performance Over six months the shares fell 35.8%, against -18.5% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue fell 21.9% over the last twelve months (peer median +13.6%); the operating margin is 3.0% (peer median 22.4%).
Valuation It trades at 0.82× book value against a peer median of 1.52× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 5.8%; Oriental Energy delivers -7.3%, so the price asks more than the business earns today.
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥23.8B | CN¥27.5B | CN¥30.8B | CN¥27.0B | CN¥29.1B |
| Revenue growth | — | -11% | +14% | -7% | — |
| Gross profit | CN¥1.92B | CN¥920M | CN¥1.17B | CN¥1.36B | CN¥1.09B |
| EBITDA | n/a | CN¥1.46B | CN¥1.87B | CN¥1.96B | CN¥1.71B |
| Net income | -CN¥766M | -CN¥921M | CN¥444M | CN¥151M | CN¥42.4M |
| Free cash flow | -CN¥2.63B | CN¥120M | -CN¥1.14B | CN¥511M | -CN¥5.39B |
| Capital expenditure | CN¥722M | CN¥949M | CN¥1.66B | CN¥2.15B | CN¥4.50B |
| Total debt | CN¥27.6B | CN¥26.6B | CN¥27.1B | CN¥26.7B | CN¥26.5B |
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| Measure | 002221.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.9% | -9.9% | 11th highest of 21 |
| 6-month return | -35.8% | -18.5% | 2nd lowest of 20 |
| Return on equity | -7.3% | 8.1% | 5th lowest of 20 |
| Price / book | 0.82× | 1.52× | 7th cheapest of 21 |
| ROE the price implies | 5.8% | 7.6% | 5th least demanding of 20 |
| ROE delivered | -7.3% | 7.7% | 5th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Oriental Energy 002221.SZ | China | $1.17B | -36% | -22% | -7% | 0.82× | 5.8% | -7.3% |
| Serica Energy SER.L | United Kingdom | $1.20B | -17% | +64% | 0% | 1.90× | 14.2% | -0.4% |
| Tenaz Energy TNZ.TO | Canada | $1.13B | -21% | +381% | 31% | 3.92× | 27.2% | 31.5% |
| Advantage Energy AAV.TO | Canada | $1.26B | +6% | +14% | 8% | 0.97× | 6.4% | 8.1% |
| Valeura Energy VLE.TO | Canada | $1.07B | +11% | +6% | 11% | 1.76× | 6.8% | 10.8% |
| Vedanta Oil and Gas VOGL.NS | India | $1.27B | n/a | n/a | n/a | 0.65× | 12.4% | n/a |
| Zhongman Petroleum and Natural Gas 603619.SS | China | $1.30B | -42% | -13% | 7% | 2.08× | 14.7% | 7.2% |
| Parex Resources PXT.TO | Canada | $1.36B | -30% | +14% | 27% | 0.57× | 5.2% | 26.8% |
| Cardinal Energy CJ.TO | Canada | $1.40B | -8% | +18% | 7% | 2.02× | 14.9% | 6.7% |
| Beach Energy BPT.AX | Australia | $1.42B | -16% | -9% | 9% | 0.63× | 5.2% | 8.7% |
| Rockhopper Exploration RKH.L | United Kingdom | $937M | -18% | n/a | 3% | 2.11× | 21.2% | 3.5% |
| Meren Energy MER.TO | Canada | $921M | -19% | +388% | -12% | 1.29× | 6.4% | -12.0% |
| BlueNord BNOR.OL | Norway | $1.49B | -6% | +28% | 25% | 2.94× | n/a | 25.2% |
| HighPeak Energy HPK | United States | $903M | +23% | -13% | -6% | 0.58× | 5.0% | -6.1% |
| Diversified Energy DEC | United States | $899M | -19% | +109% | 48% | 0.72× | 5.5% | n/a |
| NextDecade NEXT | United States | $1.56B | -23% | n/a | -70% | 13.63× | 124.8% | -70.4% |
| Etablissements Maurel & Prom MAU.PA | France | $1.57B | -29% | -11% | 35% | 1.02× | 6.7% | 34.8% |
| Vermilion Energy VET.TO | Canada | $1.61B | -9% | -2% | -19% | 1.05× | 7.6% | -18.5% |
| Spartan Delta SDE.TO | Canada | $1.63B | -11% | +93% | 10% | 3.10× | 16.0% | 10.3% |
| Energean ENOG.L | United Kingdom | $1.72B | -19% | +9% | -49% | 7.45× | 55.3% | -48.5% |
| Karoon Energy KAR.AX | Australia | $763M | -23% | -20% | 8% | 0.76× | 6.1% | 8.1% |