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Leading Chinese packaging maker of transport packaging, premium/gift packaging, labels and die-cut electronic materials.
Leading Chinese packaging maker of transport packaging, premium/gift packaging, labels and die-cut electronic materials.
Designs and makes packaging for each customer's product, so it is paid per unit under repeat orders and its sales follow customers' production runs. Paper-based packaging for consumer electronics and branded goods is the core of the business. Based in Shenzhen.
In one line: A China-focused WestRock/Multi-Color.
Moat: narrow (customer qualification, scale). Long-standing supply relationships with major electronics/consumer brands for customized packaging.
Headquarters: Shenzhen, China · Employees: 4,018
Size MYS (002303.SZ) is a China Materials company (Containers/Packaging) with a market value of $909M, the 2495th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.28 on 6 Nov 2026.
Performance Over six months the shares gained 25.9%, against -15.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 0.7% over the last twelve months (peer median +2.7%); the operating margin is 7.9% (peer median 6.6%).
Valuation It trades at 18.6× forward earnings against a peer median of 15.1× (5th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +2 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 0.2 points above its cost of capital (6.1% WACC).
Next results Next results expected around 20 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.08B | CN¥3.96B | CN¥3.99B | CN¥3.50B | CN¥4.11B |
| Revenue growth | — | -1% | +14% | -15% | — |
| Gross profit | CN¥1.15B | CN¥961M | CN¥1.01B | CN¥824M | CN¥695M |
| EBITDA | n/a | CN¥508M | CN¥467M | CN¥391M | CN¥257M |
| Net income | CN¥221M | CN¥261M | CN¥282M | CN¥196M | CN¥135M |
| Free cash flow | CN¥38.9M | CN¥247M | CN¥319M | CN¥375M | CN¥251M |
| Capital expenditure | CN¥104M | CN¥126M | CN¥117M | CN¥110M | CN¥252M |
| Total debt | CN¥2.01B | CN¥1.82B | CN¥1.66B | CN¥1.69B | CN¥1.44B |
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 |
|---|---|---|---|---|---|---|
| MYS 002303.SZ | $909M | +26% | +1% | 8% | 18.6× | 4.9% |
| Shanghai Zijiang Enterprise 600210.SS | $1.54B | -3% | -18% | 10% | 11.3× | n/a |
| Xiamen Jihong 002803.SZ | $956M | -16% | +12% | 6% | 21.3× | 6.4% |
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 | 002303.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -32.9% | -7.1% | 2nd lowest of 21 |
| 6-month return | +25.9% | -15.2% | 4th highest of 21 |
| Distance from 52-week high | -39.5% | -38.6% | 10th lowest of 21 |
| Revenue growth (TTM) | +0.7% | +2.7% | 11th highest of 21 |
| Operating margin | 7.9% | 6.6% | 10th highest of 21 |
| Forward P/E | 18.6× | 15.1× | 5th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 4.9% | 3.9% | 5th most demanding of 10 |
| Growth delivered (Del g) | +3.4% | +7.7% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | +1.6 pp | -0.0 pp | 5th most demanding of 10 |
| ROIC minus cost of capital | +0.2 pp | +0.5 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MYS 002303.SZ | China | $909M | +26% | +1% | 8% | 18.6× | 4.9% | +3.4% |
| Guangzhou Fangbang Electronics 688020.SS | China | $900M | -51% | -2% | -28% | n/a | n/a | n/a |
| Time Technoplast TIMETECHNO.NS | India | $891M | -9% | +16% | 11% | 11.0× | n/a | n/a |
| Xiamen Jihong 2603.HK | Hong Kong | $945M | -24% | +18% | 6% | 12.3× | -11.2% | +8.1% |
| Zhejiang Great Southeast 002263.SZ | China | $871M | -23% | +5% | -1% | n/a | 31.7% | -4.0% |
| Quzhou DFP New Material 601515.SS | China | $843M | -36% | +13% | -21% | n/a | n/a | n/a |
| Zhejiang Zhongxin Environmental Protection Technology 603091.SS | China | $991M | -20% | +31% | 22% | 14.5× | 7.8% | +4.4% |
| Zhejiang Great Shengda Packing 603687.SS | China | $995M | -30% | +1% | 3% | 32.6× | n/a | n/a |
| Elopak ELO.OL | Norway | $1.01B | -11% | 0% | 9% | 11.8× | -8.3% | +7.7% |
| Huangshan Novel 002014.SZ | China | $1.02B | +5% | +9% | 12% | 15.7× | n/a | n/a |
| O-I Glass OI | United States | $796M | -44% | -2% | 9% | 10.1× | n/a | n/a |
| Cheng Loong 1904.TW | Taiwan | $788M | +34% | -3% | 6% | 61.8× | 3.9% | +1.4% |
| Shanghai Baosteel Packaging 601968.SS | China | $785M | -19% | +17% | 4% | 17.3× | n/a | n/a |
| Shantou Wanshun New Material 300057.SZ | China | $784M | -45% | +29% | 1% | 66.5× | n/a | n/a |
| Taiwan Hon Chuan Enterprise 9939.TW | Taiwan | $1.07B | +7% | 0% | 15% | 10.2× | n/a | n/a |
| Sunrise 002752.SZ | China | $766M | -29% | +8% | 6% | 11.1× | -5.7% | +17.2% |
| Suzhou Hycan 002787.SZ | China | $1.09B | -10% | 0% | 7% | 36.4× | n/a | n/a |
| EPL EPL.NS | India | $752M | -6% | +17% | 12% | 15.7× | 16.0% | +8.8% |
| Planetree International Development 0613.HK | Hong Kong | $733M | +151% | -62% | 1,735% | n/a | n/a | n/a |
| Ningbo Exciton Technology 300566.SZ | China | $730M | -2% | -2% | 9% | 17.9× | 8.4% | +8.4% |
| Cascades CAS.TO | Canada | $1.15B | +49% | +1% | 5% | 9.2× | -1.9% | +3.1% |