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Chinese chemical/materials company based in Shandong; specific products and end markets not confirmed.
Chinese chemical/materials company based in Shandong; specific products and end markets not confirmed.
Moat: none
Headquarters: Shandong, China · Employees: 1,738
Size Shandong Head (002810.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $855M, the 2605th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.70 on 6 Nov 2026.
Performance Over six months the shares fell 37.5%, against -13.2% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 15.8% over the last twelve months (peer median +6.3%); the operating margin is 20.5% (peer median 7.8%).
Valuation It trades at 14.2× forward earnings against a peer median of 26.1× (4th cheapest 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 +8%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.5 points above its cost of capital (8.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.26B | CN¥1.90B | CN¥1.94B | CN¥1.55B | CN¥1.71B |
| Revenue growth | — | -2% | +25% | -10% | — |
| Gross profit | CN¥887M | CN¥467M | CN¥438M | CN¥408M | CN¥551M |
| EBITDA | n/a | CN¥463M | CN¥501M | CN¥404M | CN¥462M |
| Net income | CN¥286M | CN¥142M | CN¥222M | CN¥220M | CN¥354M |
| Free cash flow | CN¥718M | CN¥152M | CN¥202M | CN¥80.0M | -CN¥168M |
| Capital expenditure | CN¥75.9M | CN¥240M | CN¥95.5M | CN¥103M | CN¥470M |
| Total debt | CN¥1.25B | CN¥1.20B | CN¥1.15B | CN¥859M | CN¥737M |
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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 | 002810.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.7% | -14.3% | 6th lowest of 21 |
| 6-month return | -37.5% | -13.2% | 2nd lowest of 21 |
| Distance from 52-week high | -43.6% | -42.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +15.8% | +6.3% | 7th highest of 21 |
| Operating margin | 20.5% | 7.8% | highest of 21 |
| Forward P/E | 14.2× | 26.1× | 4th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 18.7% | least demanding of 9 |
| Growth delivered (Del g) | +7.9% | +4.6% | 4th highest of 9 |
| Hurdle (Req g minus delivered) | -9.5 pp | +11.5 pp | 2nd least demanding of 9 |
| ROIC minus cost of capital | +8.5 pp | -4.3 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Head 002810.SZ | China | $855M | -38% | +16% | 21% | 14.2× | -1.6% | +7.9% |
| Daqo New Energy Corp Sponsored ADR DQ | United States | $856M | -32% | -21% | -70% | n/a | n/a | n/a |
| Kronos Worldwide KRO | United States | $859M | +46% | +3% | -1% | 11.9× | 17.6% | +2.6% |
| Kingfa Science & Technology (India) KINGFA.NS | India | $849M | +20% | +24% | 14% | n/a | n/a | n/a |
| Alkyl Amines Chemicals ALKYLAMINE.NS | India | $849M | -9% | +13% | 17% | 37.4× | 36.2% | +4.3% |
| Sinosteel New Materials 002057.SZ | China | $849M | -22% | +13% | 9% | 12.3× | 12.4% | +13.5% |
| Hanking Gold International 3788.HK | Hong Kong | $862M | -26% | -19% | 8% | n/a | n/a | n/a |
| Fujian Yuanli Active Carbon 300174.SZ | China | $840M | -14% | +7% | 9% | 20.2× | 17.3% | +10.1% |
| Zhejiang Wansheng 603010.SS | China | $872M | -25% | +19% | -26% | n/a | n/a | n/a |
| China Petrochemical Development 1314.TW | Taiwan | $833M | -1% | -35% | -18% | n/a | n/a | n/a |
| HuBei NengTer Technology 002102.SZ | China | $832M | -12% | -59% | -3% | 16.6× | n/a | n/a |
| Shanxi Lu'an Chemical Technology 600691.SS | China | $827M | -31% | -14% | -8% | 232.0× | 27.2% | -11.2% |
| Zhejiang Zhengguang Industrial 301092.SZ | China | $823M | -1% | -5% | 13% | 53.7× | n/a | n/a |
| TETRA Technologies TTI | United States | $891M | -39% | +6% | 7% | 19.9× | n/a | n/a |
| Neo Performance Materials NEO.TO | Canada | $821M | -13% | +24% | 14% | 12.2× | n/a | n/a |
| Sudarshan Chemical Industries SUDARSCHEM.NS | India | $893M | +10% | +90% | 4% | 28.9× | 27.0% | +39.5% |
| Zhejiang Xinhua Chemical 603867.SS | China | $817M | -27% | +7% | 10% | 16.1× | 12.8% | +4.9% |
| Jiangsu Aisen Semiconductor Material 688720.SS | China | $817M | -21% | +29% | 5% | 40.2× | n/a | n/a |
| Boai NKY Medical 300109.SZ | China | $896M | -32% | -17% | 15% | 32.5× | 19.9% | +3.9% |
| Henan Jindan Lactic Acid Technology 300829.SZ | China | $900M | +52% | +5% | 3% | 26.1× | n/a | n/a |
| Neogen Chemicals NEOGEN.NS | India | $809M | +47% | +27% | 14% | 109.3× | n/a | n/a |