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Chinese specialty-chemicals company; specific product line not established from available knowledge.
Chinese specialty-chemicals company; specific product line not established from available knowledge.
Moat: none
Headquarters: China · Employees: 4,887
Size Valiant (002643.SZ) is a China Materials company (Chemicals: Major Diversified) with a market value of $1.66B, the 1493rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.89 on 6 Nov 2026.
Performance Over six months the shares fell 28.2%, against -12.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 19 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +8.7%); the operating margin is 9.8% (peer median 8.7%).
Valuation It trades at 25.6× forward earnings against a peer median of 26.7× (9th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +13 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 4.9 points below its cost of capital (10.8% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.85B | CN¥3.69B | CN¥3.64B | CN¥4.28B | CN¥5.07B |
| Revenue growth | — | +1% | -15% | -16% | — |
| Gross profit | CN¥1.78B | CN¥1.34B | CN¥1.31B | CN¥1.70B | CN¥1.90B |
| EBITDA | n/a | CN¥873M | CN¥854M | CN¥1.32B | CN¥1.31B |
| Net income | CN¥247M | CN¥284M | CN¥246M | CN¥763M | CN¥721M |
| Free cash flow | CN¥88.0M | CN¥397M | -CN¥9.47M | -CN¥311M | -CN¥306M |
| Capital expenditure | CN¥639M | CN¥694M | CN¥1.11B | CN¥1.40B | CN¥1.29B |
| Total debt | CN¥2.03B | CN¥1.72B | CN¥1.82B | CN¥1.54B | CN¥1.11B |
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| Measure | 002643.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | -13.0% | 6th highest of 21 |
| 6-month return | -28.2% | -12.8% | 6th lowest of 19 |
| Distance from 52-week high | -46.5% | -34.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +3.5% | +8.7% | 6th lowest of 21 |
| Operating margin | 9.8% | 8.7% | 9th highest of 21 |
| Forward P/E | 25.6× | 26.7× | 9th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 17.4% | 12.1% | 6th least demanding of 11 |
| Growth delivered (Del g) | +4.9% | +7.3% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | +12.5 pp | +5.4 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | -4.9 pp | -0.4 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Valiant 002643.SZ | China | $1.66B | -28% | +3% | 10% | 25.6× | 17.4% | +4.9% |
| Metis TechBio 7666.HK | Hong Kong | $1.66B | n/a | +6,987% | -367% | n/a | n/a | n/a |
| Huntsman HUN | United States | $1.66B | -37% | +6% | 0% | 353.8× | n/a | n/a |
| Nippon Kayaku 4272.T | Japan | $1.66B | +3% | +14% | 10% | 10.1× | -4.8% | +6.9% |
| Fine Organic Industries FINEORG.NS | India | $1.64B | +9% | +13% | 20% | 33.4× | 26.7% | +15.7% |
| Borregaard BRG.OL | Norway | $1.68B | +7% | +3% | 17% | 24.4× | -1.0% | +7.7% |
| AARTI Industries AARTIIND.NS | India | $1.71B | -9% | +40% | 9% | 29.1× | n/a | n/a |
| Advanced Echem Materials 4749.TWO | Taiwan | $1.72B | -39% | +19% | 25% | 33.1× | n/a | n/a |
| Alzchem ACT0.DE | Germany | $1.56B | n/a | +5% | 16% | 20.9× | -1.1% | +8.2% |
| Innospec IOSP | United States | $1.93B | -3% | +5% | 8% | 13.4× | 4.4% | +8.3% |
| Jilin Chemical Fibre Stock 000420.SZ | China | $1.42B | -25% | +11% | 5% | 154.0× | n/a | n/a |
| Privi Speciality Chemicals PRIVISCL.NS | India | $1.40B | -4% | +18% | 20% | 30.4× | 30.1% | +15.0% |
| Rianlon 300596.SZ | China | $1.39B | -7% | +11% | 11% | 14.7× | n/a | n/a |
| Jiangsu Shuangxing Color Plastic New Materials 002585.SZ | China | $1.38B | +5% | -4% | -4% | 62.8× | 22.5% | +0.2% |
| Shanghai Emperor of Cleaning Hi-Tech 603200.SS | China | $1.37B | -16% | +4% | -8% | n/a | n/a | n/a |
| Qingdao Huicheng Environmental Technology 300779.SZ | China | $2.02B | -9% | -13% | 5% | 129.3× | n/a | n/a |
| Isuspecialtychemical 457190.KS | South Korea | $1.36B | -49% | +14% | 3% | n/a | n/a | n/a |
| China Resources Chemical Innovative Materials 301090.SZ | China | $1.35B | -33% | +4% | 1% | 19.2× | 21.4% | +1.1% |
| Zhejiang Yongtai Technology 002326.SZ | China | $2.04B | -40% | +38% | 11% | n/a | n/a | n/a |
| Eternal Materials 1717.TW | Taiwan | $2.06B | -27% | -2% | 5% | 17.2× | 19.9% | +1.2% |
| Ingevity NGVT | United States | $2.07B | -21% | -12% | 25% | 10.4× | -0.9% | -0.8% |