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Zibo chemicals maker turning refinery by-product C4 gas into solvents, fuel additives and polymer raw materials, plus chemical trading.
Zibo chemicals maker turning refinery by-product C4 gas into solvents, fuel additives and polymer raw materials, plus chemical trading.
Buys C4 gas, a by-product of oil refining, and processes it into solvents, fuel additives and rubber and latex raw materials, so earnings follow the gap between feedstock cost and chemical prices. A second line trades energy and chemical products. It is moving MTBE into higher-value MMA, an acrylic raw material, and building a propane-based chain.
Moat: none (scale). Integrated C4 processing at scale, but products are commodities and returns follow chemical prices.
Headquarters: Zibo, China · Employees: 3,457
Size Zibo Qixiang Tengda Chemical (002408.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.87B, the 1338th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.40 on 6 Nov 2026.
Performance Over six months the shares fell 33.1%, against -24.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 18.1% over the last twelve months (peer median +17.1%); the operating margin is -0.7% (peer median 8.1%).
Valuation It trades at 1.11× book value against a peer median of 2.03× (4th cheapest of 20).
Price implies The share price implies a return on equity of about 8.9%; Zibo Qixiang Tengda Chemical delivers -3.4%, so the price asks more than the business earns today.
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥29.6B | CN¥23.7B | CN¥25.2B | CN¥26.8B | CN¥29.8B |
| Revenue growth | — | -6% | -6% | -10% | — |
| Gross profit | CN¥2.53B | CN¥642M | CN¥1.28B | CN¥1.48B | CN¥2.52B |
| EBITDA | n/a | CN¥1.34B | CN¥2.42B | CN¥2.47B | CN¥2.42B |
| Net income | -CN¥391M | -CN¥575M | CN¥34.5M | -CN¥384M | CN¥634M |
| Free cash flow | CN¥916M | CN¥357M | CN¥287M | -CN¥1.89B | -CN¥3.17B |
| Capital expenditure | CN¥77.2M | CN¥632M | CN¥753M | CN¥2.31B | CN¥4.63B |
| Total debt | CN¥9.82B | CN¥10.8B | CN¥10.9B | CN¥10.6B | CN¥11.5B |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Zibo Qixiang Tengda Chemical 002408.SZ | $1.87B | -33% | +18% | -3% | 1.11× | 8.9% |
| China Petroleum & Chemical 600028.SS | $99.2B | +8% | -10% | 4% | 0.83× | 2.9% |
| PetroChina 601857.SS | $336B | +4% | -3% | 10% | 1.42× | 4.2% |
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 | 002408.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.8% | -11.1% | 9th lowest of 21 |
| 6-month return | -33.1% | -24.6% | 8th lowest of 20 |
| Return on equity | -3.5% | 7.9% | 4th lowest of 21 |
| Price / book | 1.11× | 2.03× | 4th cheapest of 20 |
| ROE the price implies | 8.9% | 20.0% | 7th least demanding of 20 |
| ROE delivered | -3.4% | 7.9% | 3rd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Zibo Qixiang Tengda Chemical 002408.SZ | China | $1.87B | -33% | +18% | -3% | 1.11× | 8.9% | -3.4% |
| Inner Mongolia Shuangxin Environment-Friendly Material 001369.SZ | China | $1.87B | -28% | +3% | 9% | 1.75× | 5.0% | n/a |
| Verbio VBK.DE | Germany | $1.88B | -37% | +19% | 8% | 2.05× | 7.0% | 8.2% |
| Transfar Zhilian 002010.SZ | China | $1.87B | -21% | -30% | 3% | 0.70× | 6.1% | 2.9% |
| Garware Hi-Tech Films GRWRHITECH.NS | India | $1.88B | +40% | +15% | 16% | 6.12× | 80.1% | 15.7% |
| Ganzhou Teng Yuan Cobalt New Material 301219.SZ | China | $1.85B | -53% | +64% | 10% | 1.26× | 17.6% | 10.3% |
| Lianhe Chemical Technology 002250.SZ | China | $1.90B | -16% | +28% | 8% | 1.80× | 12.6% | 8.4% |
| Standard Nuclear STDN | United States | $1.90B | n/a | n/a | -167% | n/a | n/a | n/a |
| Lily 603823.SS | China | $1.91B | +85% | +2% | 8% | 4.99× | 46.9% | 7.9% |
| Minerals Technologies MTX | United States | $1.91B | -22% | +5% | -4% | 1.21× | 12.2% | -4.2% |
| Guangdong Huate Gas 688268.SS | China | $1.92B | -47% | +27% | 8% | 4.78× | 60.1% | 7.9% |
| Chemours CC | United States | $1.92B | -45% | -1% | -74% | 12.38× | 116.5% | -74.2% |
| Jiangsu Lopal Tech 603906.SS | China | $1.82B | -54% | +96% | 11% | 2.41× | 25.7% | 11.1% |
| Ube 4208.T | Japan | $1.94B | +33% | +3% | 6% | 0.69× | 6.3% | 5.7% |
| Fuso Chemical 4368.T | Japan | $1.79B | -19% | +17% | 16% | 2.20× | 25.3% | 16.1% |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 4% | 4.23× | 55.4% | 4.5% |
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 7% | 4.23× | 50.4% | 7.5% |
| Dongyue 0189.HK | Hong Kong | $2.04B | -28% | +8% | 13% | 0.91× | 7.8% | 13.3% |
| Ningbo Ronbay New Energy Technology 688005.SS | China | $2.05B | -45% | +41% | 0% | 1.70× | 20.0% | 0.0% |
| Shida Shinghwa Advanced Material 603026.SS | China | $1.68B | -58% | +58% | 12% | 2.03× | 24.1% | 12.1% |
| Shaanxi Beiyuan Chemical Industry 601568.SS | China | $2.11B | -9% | -8% | -1% | 1.26× | 6.3% | -1.3% |