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Chinese specialty-materials company; specific product line is not confirmed.
Chinese specialty-materials company; specific product line is not confirmed.
Moat: none
Headquarters: China · Employees: 937
Size Suzhou Hesheng Special Material (002290.SZ) is a China Materials company (Steel) with a market value of $1.51B, the 1631st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥40.48 on 6 Nov 2026.
Performance Over six months the shares fell 50.2%, against -20.5% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 1.0% over the last twelve months (peer median -0.6%); the operating margin is 7.1% (peer median 4.9%).
Valuation It trades at 42.2× forward earnings against a peer median of 18.4× (2nd most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 35% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +28 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 0.0 points below its cost of capital (10.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.57B | CN¥2.55B | CN¥2.52B | CN¥2.34B | CN¥2.13B |
| Revenue growth | — | +1% | +8% | +10% | — |
| Gross profit | CN¥394M | CN¥365M | CN¥245M | CN¥239M | CN¥231M |
| EBITDA | n/a | CN¥207M | CN¥137M | CN¥128M | CN¥129M |
| Net income | CN¥192M | CN¥163M | CN¥97.9M | CN¥82.8M | CN¥65.9M |
| Free cash flow | CN¥196M | CN¥157M | CN¥187M | CN¥223M | CN¥149M |
| Capital expenditure | CN¥5.74M | CN¥5.20M | CN¥10.4M | CN¥15.6M | CN¥40.3M |
| Total debt | CN¥800M | CN¥755M | CN¥668M | CN¥782M | CN¥602M |
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| Measure | 002290.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.7% | -3.9% | lowest of 21 |
| 6-month return | -50.2% | -20.5% | 2nd lowest of 21 |
| Distance from 52-week high | -62.8% | -36.8% | lowest of 21 |
| Revenue growth (TTM) | +1.0% | -0.6% | 10th highest of 21 |
| Operating margin | 7.1% | 4.9% | 8th highest of 21 |
| Forward P/E | 42.2× | 18.4× | 2nd most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 34.8% | 9.1% | 2nd most demanding of 14 |
| Growth delivered (Del g) | +7.1% | +10.9% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | +27.8 pp | -5.0 pp | most demanding of 14 |
| ROIC minus cost of capital | -0.0 pp | -1.9 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzhou Hesheng Special Material 002290.SZ | China | $1.51B | -50% | +1% | 7% | 42.2× | 34.8% | +7.1% |
| Godawari Power & Ispat GPIL.NS | India | $1.49B | -31% | +8% | 19% | 12.5× | 21.7% | +6.3% |
| Dalian Huarui Heavy Industry 002204.SZ | China | $1.43B | -28% | +5% | 4% | n/a | -3.8% | +13.9% |
| Ryerson RYZ | United States | $1.43B | +1% | +53% | 1% | 10.6× | n/a | n/a |
| Sarda Energy & Minerals SARDAEN.NS | India | $1.63B | -27% | -2% | 26% | n/a | 10.6% | +20.9% |
| Chongqing Iron & Steel 601005.SS | China | $1.63B | -17% | -12% | -13% | n/a | n/a | n/a |
| Fangda Special Steel Technology 600507.SS | China | $1.38B | -32% | +8% | 3% | 23.4× | n/a | n/a |
| Gallantt Ispat GALLANTT.NS | India | $1.36B | -38% | +6% | 11% | n/a | 39.6% | +16.0% |
| Jindal Saw JINDALSAW.NS | India | $1.70B | +4% | -1% | 6% | 22.7× | 17.5% | +10.9% |
| HBIS Resources 000923.SZ | China | $1.33B | -19% | -5% | 0% | 52.4× | n/a | n/a |
| China Nonferrous Metal Industry's Foreign Engineering and Construction 000758.SZ | China | $1.72B | -17% | +42% | 7% | n/a | 9.1% | +8.4% |
| Sichuan Anning Iron and Titanium 002978.SZ | China | $1.72B | -22% | -10% | 41% | 18.4× | 6.1% | +4.2% |
| YODOKO 5451.T | Japan | $1.31B | +1% | -2% | 6% | n/a | 0.3% | +6.0% |
| Impro Precision Industries 1286.HK | Hong Kong | $1.30B | -52% | +20% | 18% | 11.4× | -1.6% | +11.7% |
| Yongjin Technology 603995.SS | China | $1.28B | +22% | +11% | 2% | 12.1× | n/a | n/a |
| Liuzhou Iron & Steel 601003.SS | China | $1.28B | -29% | 0% | 1% | 28.2× | -0.3% | +4.7% |
| Gansu Jiu Steel Group Hongxing Iron & Steel 600307.SS | China | $1.25B | -25% | -6% | -5% | n/a | n/a | n/a |
| Bengang Steel Plates 000761.SZ | China | $1.25B | -26% | -2% | -10% | n/a | n/a | n/a |
| Ratnamani Metals & Tubes RATNAMANI.NS | India | $1.83B | -13% | -16% | 14% | 31.8× | 27.4% | +14.4% |
| NMDC Steel NSLNISP.NS | India | $1.23B | -10% | +42% | 3% | n/a | 20.8% | +41.6% |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 12% | 11.2× | -10.3% | +6.2% |