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Chinese polymer/rubber-chemicals producer, likely making rubber additives or polymer materials (name-derived; specifics not fully confirmed).
Chinese polymer/rubber-chemicals producer, likely making rubber additives or polymer materials (name-derived; specifics not fully confirmed).
Moat: none
Headquarters: Shandong, China · Employees: 2,383
Size Shandong Dawn Polymer (002838.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.40B, the 1739th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.65 on 6 Nov 2026.
Performance Over six months the shares fell 34.6%, against -22.0% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 31.3% over the last twelve months (peer median +10.7%); the operating margin is 5.9% (peer median 7.0%).
Valuation It trades at 19.3× forward earnings against a peer median of 19.6× (9th cheapest of 17).
Capital Return on invested capital runs 3.3 points below its cost of capital (10.8% WACC).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.85B | CN¥6.05B | CN¥5.28B | CN¥4.54B | CN¥4.52B |
| Revenue growth | — | +14% | +16% | 0% | — |
| Gross profit | CN¥1.36B | CN¥730M | CN¥570M | CN¥508M | CN¥409M |
| EBITDA | n/a | CN¥407M | CN¥323M | CN¥276M | CN¥222M |
| Net income | CN¥396M | CN¥189M | CN¥141M | CN¥140M | CN¥152M |
| Free cash flow | -CN¥23.8M | -CN¥212M | -CN¥536M | -CN¥288M | -CN¥425M |
| Capital expenditure | CN¥211M | CN¥136M | CN¥235M | CN¥245M | CN¥386M |
| Total debt | CN¥2.42B | CN¥2.83B | CN¥2.35B | CN¥1.27B | CN¥1.24B |
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| Measure | 002838.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.0% | -10.9% | 4th lowest of 21 |
| 6-month return | -34.6% | -22.0% | 5th lowest of 21 |
| Distance from 52-week high | -48.7% | -42.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +31.3% | +10.7% | 5th highest of 21 |
| Operating margin | 5.9% | 7.0% | 10th lowest of 21 |
| Forward P/E | 19.3× | 19.6× | 9th cheapest of 17 |
| ROIC minus cost of capital | -3.3 pp | -2.0 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Dawn Polymer 002838.SZ | China | $1.40B | -35% | +31% | 6% | 19.3× | n/a | n/a |
| Guangdong Guanghua Sci-Tech 002741.SZ | China | $1.40B | -9% | +61% | 4% | 58.4× | n/a | n/a |
| Shenzhen Rongda Photosensitive & Technology 300576.SZ | China | $1.40B | -31% | +14% | 10% | n/a | n/a | n/a |
| GCH Technology 688625.SS | China | $1.38B | -32% | +8% | 18% | 19.2× | 27.6% | +16.3% |
| Anhui Guangxin Agrochemical 603599.SS | China | $1.43B | -29% | -13% | 18% | 13.1× | -3.8% | +0.6% |
| BASF India BASF.NS | India | $1.35B | -23% | +13% | 4% | 17.4× | n/a | n/a |
| Wankai New Materials 301216.SZ | China | $1.35B | -48% | +5% | 4% | 8.3× | n/a | n/a |
| Guangdong Orient Zirconic Industry Science & Technology 002167.SZ | China | $1.44B | +5% | +17% | 14% | 48.5× | 32.4% | +10.1% |
| Jilin OLED Material Tech 688378.SS | China | $1.45B | -17% | +74% | 18% | 28.1× | 46.2% | +15.2% |
| Elementis ELM.L | United Kingdom | $1.45B | +34% | -12% | 20% | 16.9× | 16.9% | -4.8% |
| LOTTE CHEMICAL 011170.KS | South Korea | $1.45B | -59% | +5% | -2% | n/a | n/a | n/a |
| Jiangyin Jianghua Micro-electronics Materials 603078.SS | China | $1.33B | -7% | +18% | 7% | 79.3× | 32.0% | +17.0% |
| COFCO Biotechnology 000930.SZ | China | $1.32B | -21% | -9% | -2% | n/a | n/a | n/a |
| Global New Material International 6616.HK | Hong Kong | $1.32B | -3% | +165% | 0% | 14.1× | n/a | n/a |
| Dawei Technology (Guangdong) 600589.SS | China | $1.32B | -38% | +29% | -10% | n/a | n/a | n/a |
| Shaily Engineering Plastics SHAILY.NS | India | $1.48B | +14% | +18% | 24% | 56.7× | 35.8% | +22.8% |
| Anhui Wanwei Updated High-Tech Material Industry 600063.SS | China | $1.49B | -32% | +3% | 4% | 20.0× | n/a | n/a |
| REX American Resources REX | United States | $1.31B | -21% | +6% | 15% | 26.2× | -3.8% | +11.7% |
| Industrie De Nora DNR.MI | Italy | $1.31B | -23% | -2% | 14% | 16.0× | n/a | n/a |
| Beijing Haixin Energy Technology 300072.SZ | China | $1.30B | -20% | +61% | -9% | 121.7× | n/a | n/a |
| KumhoPetrochem 011780.KS | South Korea | $1.50B | -37% | 0% | 7% | 4.3× | -16.5% | +7.5% |