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Guangdong cement producer majority owned by Anhui Conch, supplying South China's construction market.
Guangdong cement producer majority owned by Anhui Conch, supplying South China's construction market.
Moat: none (scale). Regional commodity cement producer; scale and Conch-group backing are the main edge.
Headquarters: Guangdong, China · Employees: 1,660
Size Guangdong Tapai (002233.SZ) is a China Materials company (Construction Materials) with a market value of $1.34B, the 1814th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.70 on 6 Nov 2026.
Performance Over six months the shares fell 10.1%, against -10.1% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 10.8% over the last twelve months (peer median -4.3%); the operating margin is 7.1% (peer median 10.6%).
Valuation It trades at 20.3× forward earnings against a peer median of 13.0× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.4 points above its cost of capital (5.9% WACC).
Next results Next results expected around 16 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.80B | CN¥4.09B | CN¥4.26B | CN¥5.51B | CN¥6.02B |
| Revenue growth | — | -4% | -23% | -8% | — |
| Gross profit | CN¥1.17B | CN¥821M | CN¥772M | CN¥1.29B | CN¥869M |
| EBITDA | n/a | CN¥993M | CN¥904M | CN¥1.32B | CN¥962M |
| Net income | CN¥306M | CN¥634M | CN¥538M | CN¥742M | CN¥266M |
| Free cash flow | CN¥706M | CN¥572M | CN¥471M | CN¥892M | CN¥231M |
| Capital expenditure | CN¥377M | CN¥343M | CN¥522M | CN¥452M | CN¥454M |
| Total debt | CN¥24.2M | CN¥30.1M | CN¥22.9M | CN¥1.52M | CN¥0 |
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 |
|---|---|---|---|---|---|---|
| Guangdong Tapai 002233.SZ | $1.34B | -10% | -11% | 7% | 20.3× | -15.3% |
| Anhui Conch Cement 600585.SS | $13.9B | -12% | -8% | 4% | 19.4× | -7.7% |
| Huaxin Building Materials 600801.SS | $7.16B | +28% | +16% | 18% | 14.8× | -10.9% |
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 | 002233.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.4% | +0.1% | 4th highest of 21 |
| 6-month return | -10.1% | -10.1% | 11th highest of 21 |
| Distance from 52-week high | -25.5% | -33.0% | 10th highest of 21 |
| Revenue growth (TTM) | -10.8% | -4.3% | 6th lowest of 21 |
| Operating margin | 7.1% | 10.6% | 7th lowest of 20 |
| Forward P/E | 20.3× | 13.0× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | -15.3% | 4.9% | least demanding of 16 |
| Growth delivered (Del g) | -10.2% | +7.7% | lowest of 16 |
| Hurdle (Req g minus delivered) | -5.0 pp | -9.6 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | +2.4 pp | -2.9 pp | 7th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Tapai 002233.SZ | China | $1.34B | -10% | -11% | 7% | 20.3× | -15.3% | -10.2% |
| BBMG Jidong Cement 000401.SZ | China | $1.35B | -21% | -8% | n/a | n/a | 37.1% | -7.0% |
| Fsilon Furnishing and Construction Materials 605318.SS | China | $1.36B | -29% | -15% | -5% | 3,613.5× | n/a | n/a |
| West China Cement 2233.HK | Hong Kong | $1.30B | -29% | -10% | 15% | 11.1× | n/a | n/a |
| Caltagirone CALT.MI | Italy | $1.26B | +1% | +10% | 10% | n/a | 0.9% | +10.5% |
| Shandong Fiberglass 605006.SS | China | $1.25B | +10% | +31% | 5% | 64.0× | n/a | n/a |
| Cementos Pacasmayo SAA Sponsored ADR CPAC | United States | $1.16B | +20% | +21% | 25% | 22.2× | -9.8% | +9.9% |
| Loma Negra Compania Industrial Argentina SA Sponsored ADR LOMA | United States | $1.12B | -21% | -5% | 9% | 16.6× | 13.6% | +2.9% |
| Mitani Sekisan 5273.T | Japan | $1.12B | +33% | +9% | 18% | n/a | -8.4% | +7.7% |
| Breedon BREE.L | United Kingdom | $1.60B | +17% | +8% | 7% | 12.2× | 10.1% | +13.0% |
| Goldsun Building Materials 2504.TW | Taiwan | $1.06B | -14% | -3% | 22% | 8.4× | -7.1% | +3.6% |
| CCCC Design And Consulting 600720.SS | China | $1.73B | -24% | -10% | 12% | 9.7× | n/a | n/a |
| Sumitomo Osaka Cement 5232.T | Japan | $969M | +49% | +5% | 7% | 13.7× | 4.6% | -1.3% |
| BBMG 601992.SS | China | $1.86B | -19% | -25% | -4% | n/a | 41.4% | -3.3% |
| Gansu Shangfeng Materials 000672.SZ | China | $1.88B | -6% | -23% | 7% | 4.5× | 10.2% | -6.1% |
| Maeda Kosen 7821.T | Japan | $944M | +21% | +11% | 17% | 14.8× | -4.7% | +10.6% |
| SigmaRoc SRC.L | United Kingdom | $1.95B | +14% | +4% | 15% | 12.1× | 12.4% | +52.8% |
| Hanilcmt 300720.KS | South Korea | $905M | -4% | -10% | 11% | 11.9× | -3.2% | +7.9% |
| Sichuan Hexie Shuangma 000935.SZ | China | $1.98B | -35% | -14% | 15% | 13.8× | n/a | n/a |
| China West Construction 002302.SZ | China | $884M | -16% | -24% | -7% | n/a | 12.5% | -5.0% |
| YOUNGY 002192.SZ | China | $2.03B | -52% | +315% | 60% | n/a | 4.9% | +16.8% |