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Leading Chinese tissue-paper brand making toilet paper, facial tissue and paper towels sold nationwide.
Leading Chinese tissue-paper brand making toilet paper, facial tissue and paper towels sold nationwide.
Sells branded tissue through supermarkets, e-commerce and increasingly commercial buyers. Wood pulp, its main raw material and an imported commodity, swings in price, so profit depends on pulp cost as much as on demand.
In one line: A Chinese Kimberly-Clark (tissue category).
Moat: narrow (brand, distribution). Established national tissue brand with broad retail and e-commerce shelf presence.
Headquarters: Xiaogan, Hubei, China · Employees: 5,550
Size C&S Paper (002511.SZ) is a China Materials company (Pulp & Paper) with a market value of $1.44B, the 1684th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.81 on 6 Nov 2026.
Performance Over six months the shares fell 8.4%, against -11.3% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 1.8% over the last twelve months (peer median +1.4%); the operating margin is 7.2% (peer median 1.9%).
Valuation It trades at 21.7× forward earnings against a peer median of 15.3× (4th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.9 points above its cost of capital (7.5% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.81B | CN¥8.73B | CN¥8.13B | CN¥9.76B | CN¥8.54B |
| Revenue growth | — | +7% | -17% | +14% | — |
| Gross profit | CN¥3.28B | CN¥2.82B | CN¥2.34B | CN¥3.08B | CN¥2.59B |
| EBITDA | n/a | CN¥893M | CN¥498M | CN¥720M | CN¥773M |
| Net income | CN¥456M | CN¥319M | CN¥77.2M | CN¥333M | CN¥350M |
| Free cash flow | CN¥862M | CN¥1.07B | -CN¥755M | CN¥796M | CN¥66.4M |
| Capital expenditure | CN¥337M | CN¥286M | CN¥429M | CN¥457M | CN¥325M |
| Total debt | CN¥1.18B | CN¥1.53B | CN¥1.80B | CN¥1.49B | CN¥959M |
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 |
|---|---|---|---|---|---|---|
| C&S Paper 002511.SZ | $1.44B | -8% | +2% | 7% | 21.7× | -2.1% |
| Hengan Int'l 1044.HK | $3.28B | -16% | +2% | 11% | 9.1× | -8.8% |
| Kimberly-Clark KMB | $66.5B | +12% | -12% | 14% | 15.3× | 4.1% |
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 | 002511.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.9% | -7.4% | 3rd highest of 21 |
| 6-month return | -8.4% | -11.3% | 10th highest of 21 |
| Distance from 52-week high | -15.6% | -33.6% | 4th highest of 21 |
| Revenue growth (TTM) | +1.8% | +1.4% | 10th highest of 21 |
| Operating margin | 7.2% | 1.9% | 4th highest of 21 |
| Forward P/E | 21.7× | 15.3× | 4th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.1% | 5.4% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +2.3% | +3.2% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | -4.4 pp | +3.7 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | +5.9 pp | -3.4 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| C&S Paper 002511.SZ | China | $1.44B | -8% | +2% | 7% | 21.7× | -2.1% | +2.3% |
| YFY 1907.TW | Taiwan | $1.40B | +18% | -2% | 0% | 23.1× | 7.1% | +0.1% |
| Zhongmin Energy 600163.SS | China | $1.49B | -15% | +18% | 49% | 15.5× | -9.8% | +5.0% |
| Sylvamo SLVM | United States | $1.57B | -4% | -7% | 6% | 9.6× | n/a | n/a |
| Metsa Board METSA.HE | Finland | $1.22B | -17% | -11% | -4% | n/a | 16.7% | -1.2% |
| Lee & Man Paper Manufacturing 2314.HK | Hong Kong | $1.77B | -4% | +14% | 9% | 5.5× | 1.0% | +0.6% |
| Xianhe 603733.SS | China | $1.94B | -28% | +9% | 10% | 10.9× | n/a | n/a |
| Daio Paper 3880.T | Japan | $1.03B | +3% | +1% | 4% | 15.6× | 3.7% | +3.4% |
| Yueyang Forest & Paper 600963.SS | China | $1.02B | -14% | -10% | -5% | 19.9× | n/a | n/a |
| Shanying International 600567.SS | China | $962M | -27% | +1% | -7% | n/a | -11.8% | +2.9% |
| Billerud BILL.ST | Sweden | $2.24B | +35% | -9% | -1% | 70.1× | 24.9% | +11.2% |
| Fujian Qingshan Paper Industry 600103.SS | China | $930M | -35% | +5% | 2% | n/a | 14.6% | -0.5% |
| Rengo 3941.T | Japan | $2.29B | +18% | +4% | 4% | 11.0× | n/a | n/a |
| Nippon Paper Industries 3863.T | Japan | $899M | -6% | +2% | 2% | 11.8× | 15.4% | +3.4% |
| Wuzhou Special Paper 605007.SS | China | $882M | -22% | +17% | 5% | 12.1× | n/a | n/a |
| Japan Pulp and Paper 8032.T | Japan | $877M | +9% | +10% | 2% | 15.3× | 3.5% | +5.6% |
| Shandong Bohui Paper Industry 600966.SS | China | $841M | -33% | -2% | 2% | 38.0× | -0.6% | +6.5% |
| Sichuan Jinshi Technology 002951.SZ | China | $840M | -7% | -52% | -102% | n/a | n/a | n/a |
| Hokuetsu 3865.T | Japan | $816M | -9% | -5% | 2% | 17.2× | n/a | n/a |
| Guangdong Guanhao High-Tech 600433.SS | China | $788M | -37% | -1% | -4% | 11.7× | 25.9% | +2.0% |
| Zhejiang Jingxing Paper Joint Stock 002067.SZ | China | $787M | -27% | +18% | 0% | n/a | n/a | n/a |