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Chinese maker of stainless-steel and nickel-alloy seamless tubes for nuclear power, oil & gas and other industrial uses.
Chinese maker of stainless-steel and nickel-alloy seamless tubes for nuclear power, oil & gas and other industrial uses.
Sells made-to-order tubes to project specifications, with orders arriving in batches tied to project schedules in nuclear, oil and gas and power generation, so results follow capital spending by those industries.
In one line: A Chinese specialty tube maker akin to a smaller Sandvik Materials Technology.
Moat: narrow (process know-how, customer qualification). Qualification for nuclear-grade tubing is a high bar that limits competition.
Headquarters: Huzhou, China · Founded: 1965 · Employees: 4,680
Size Zhejiang Jiuli Hi-Tech Metals (002318.SZ) is a China Materials company (Steel) with a market value of $2.75B, the 932nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.02 on 6 Nov 2026.
Performance Over six months the shares fell 36.9%, against -24.4% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue fell 37.9% over the last twelve months (peer median -0.5%); the operating margin is 3.9% (peer median 2.1%).
Valuation It trades at 25.9× forward earnings against a peer median of 16.9× (6th most expensive of 17).
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 +20%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 points below its cost of capital (6.3% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.40B | CN¥12.0B | CN¥10.9B | CN¥8.55B | CN¥6.52B |
| Revenue growth | — | +10% | +28% | +31% | — |
| Gross profit | CN¥1.95B | CN¥2.86B | CN¥2.92B | CN¥2.15B | CN¥1.59B |
| EBITDA | n/a | CN¥1.89B | CN¥2.02B | CN¥1.44B | CN¥1.06B |
| Net income | CN¥701M | CN¥1.51B | CN¥1.49B | CN¥1.49B | CN¥1.29B |
| Free cash flow | CN¥431M | CN¥1.18B | CN¥328M | CN¥1.51B | CN¥586M |
| Capital expenditure | CN¥728M | CN¥734M | CN¥593M | CN¥448M | CN¥417M |
| Total debt | CN¥2.67B | CN¥1.83B | CN¥1.97B | CN¥1.68B | CN¥1.32B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | $2.75B | -37% | -38% | 4% | 25.9× | 15.4% |
| Sandvik SAND.ST | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% |
| Tubacex TUB.MC | $358M | -6% | -7% | -2% | 76.4× | 15.7% |
| Baoji Titanium Industry 600456.SS | $1.76B | -26% | +14% | 7% | 26.4× | n/a |
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 | 002318.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.6% | -7.4% | 2nd highest of 21 |
| 6-month return | -36.9% | -24.4% | 4th lowest of 20 |
| Distance from 52-week high | -47.4% | -42.3% | 8th lowest of 21 |
| Revenue growth (TTM) | -37.9% | -0.5% | 2nd lowest of 21 |
| Operating margin | 3.9% | 2.1% | 9th highest of 21 |
| Forward P/E | 25.9× | 16.9× | 6th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 15.4% | 6.9% | 4th most demanding of 17 |
| Growth delivered (Del g) | +19.5% | +6.2% | highest of 17 |
| Hurdle (Req g minus delivered) | -4.2 pp | +1.6 pp | 6th least demanding of 17 |
| ROIC minus cost of capital | -1.1 pp | -2.8 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | China | $2.75B | -37% | -38% | 4% | 25.9× | 15.4% | +19.5% |
| Fujian Makeng Mining 601123.SS | China | $2.76B | n/a | -3% | 41% | n/a | 29.1% | -1.0% |
| Hangzhou Iron & Steel 600126.SS | China | $2.73B | -38% | -58% | -1% | n/a | 19.3% | +9.8% |
| Hyundai Steel 004020.KS | South Korea | $2.73B | -34% | +2% | 1% | 74.3× | -1.2% | +4.8% |
| Shanxi Taigang Stainless Steel 000825.SZ | China | $2.78B | -24% | +1% | -1% | 65.0× | 7.4% | +6.1% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% | +10.9% |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 4% | 10.5× | 14.6% | +6.2% |
| Yongxing Special Materials Technology 002756.SZ | China | $2.88B | -59% | +30% | 16% | 11.2× | -2.3% | +8.4% |
| HBIS 000709.SZ | China | $2.96B | -16% | -6% | 5% | 12.2× | n/a | n/a |
| Angang Steel 000898.SZ | China | $2.50B | -15% | -6% | -7% | n/a | n/a | n/a |
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% | +9.9% |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 7% | 21.5× | 12.9% | +0.4% |
| Maanshan Iron & Steel 600808.SS | China | $2.32B | -41% | -4% | 0% | 38.0× | 0.3% | -1.0% |
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% | +7.0% |
| Salzgitter SZG.DE | Germany | $3.29B | -14% | -6% | -1% | 10.5× | n/a | n/a |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 5% | 40.2× | 16.2% | +9.8% |
| TA Chen Stainless Pipe 2027.TW | Taiwan | $3.46B | +21% | +24% | 18% | 8.0× | -10.1% | +11.4% |
| Hunan Valin Steel 000932.SZ | China | $3.49B | -27% | -7% | 1% | 20.0× | 6.4% | +0.9% |
| Beijing Shougang 000959.SZ | China | $3.50B | -34% | -2% | 1% | 27.4× | -9.7% | +5.2% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | -6% | n/a | n/a | n/a |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 20.5× | -6.9% | -2.8% |