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Chinese industrial-gas producer supplying onsite oxygen, nitrogen and specialty gases to manufacturing plants.
Chinese industrial-gas producer supplying onsite oxygen, nitrogen and specialty gases to manufacturing plants.
Builds a gas-separation plant at or beside a customer's factory and sells the output under long-term contracts. Such contracts typically include a minimum payment whether or not the customer uses the gas, so revenue is steadier than the gas price alone would suggest.
In one line: A smaller, China-focused Air Products.
Moat: narrow (installed base, switching costs). Onsite gas plants sit next to customer factories under long-term supply contracts.
Headquarters: Hubei, China · Employees: 1,892
Size Hubei Heyuan Gas (002971.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.09B, the 2138th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.59 on 6 Nov 2026.
Performance Over six months the shares gained 9.0%, against -19.3% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 12.0% over the last twelve months (peer median +10.4%); the operating margin is 6.9% (peer median 12.0%).
Valuation It trades at 138.4× forward earnings against a peer median of 18.7× (most expensive of 13).
Capital Return on invested capital runs 5.3 points below its cost of capital (8.5% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.76B | CN¥1.66B | CN¥1.53B | CN¥1.65B | CN¥1.32B |
| Revenue growth | — | +9% | -7% | +25% | — |
| Gross profit | CN¥456M | CN¥286M | CN¥278M | CN¥287M | CN¥268M |
| EBITDA | n/a | CN¥310M | CN¥261M | CN¥256M | CN¥223M |
| Net income | CN¥44.4M | CN¥60.3M | CN¥73.2M | CN¥83.8M | CN¥74.5M |
| Free cash flow | -CN¥347M | -CN¥375M | -CN¥954M | -CN¥436M | -CN¥563M |
| Capital expenditure | CN¥628M | CN¥603M | CN¥1.12B | CN¥457M | CN¥606M |
| Total debt | CN¥3.75B | CN¥4.06B | CN¥3.57B | CN¥2.45B | CN¥1.56B |
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 |
|---|---|---|---|---|---|---|
| Hubei Heyuan Gas 002971.SZ | $1.09B | +9% | +12% | 7% | 138.4× | n/a |
| Air Liquide AI.PA | $134B | +15% | -1% | 21% | 29.0× | 18.1% |
| Linde LIN | $237B | +5% | +8% | 27% | 27.0× | 14.4% |
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 | 002971.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.8% | -12.1% | 7th highest of 21 |
| 6-month return | +9.0% | -19.3% | 2nd highest of 21 |
| Distance from 52-week high | -56.1% | -41.1% | 4th lowest of 21 |
| Revenue growth (TTM) | +12.0% | +10.4% | 8th highest of 21 |
| Operating margin | 6.9% | 12.0% | 8th lowest of 21 |
| Forward P/E | 138.4× | 18.7× | most expensive of 13 |
| ROIC minus cost of capital | -5.3 pp | -1.1 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hubei Heyuan Gas 002971.SZ | China | $1.09B | +9% | +12% | 7% | 138.4× | n/a | n/a |
| Jiangsu Sopo Chemical 600746.SS | China | $1.12B | -23% | +6% | 5% | n/a | n/a | n/a |
| Anhui Hwasu 600935.SS | China | $1.13B | -22% | -10% | -8% | n/a | 28.1% | -1.0% |
| Japan Material 6055.T | Japan | $1.06B | -9% | +11% | 27% | 13.5× | 9.4% | +10.5% |
| Vinati Organics VINATIORGA.NS | India | $1.14B | -26% | +11% | 20% | 23.8× | 24.0% | +18.2% |
| Ecovyst ECVT | United States | $1.15B | -26% | +20% | 12% | 14.1× | 8.0% | +7.8% |
| Anhui Guofeng New Materials 000859.SZ | China | $1.04B | -14% | +6% | -4% | n/a | n/a | n/a |
| Ningbo Changhong Polymer Scientific & Technical 605008.SS | China | $1.04B | -11% | -12% | -1% | 31.5× | n/a | n/a |
| Shin-Etsu Polymer 7970.T | Japan | $1.15B | +5% | +10% | 13% | 13.2× | -2.9% | +8.4% |
| Shandong Boyuan Advanced Materials 301617.SZ | China | $1.15B | -4% | +11% | 12% | n/a | 44.7% | +22.5% |
| Jiangsu Evergreen New Material Technology 603125.SS | China | $1.03B | -23% | +38% | 19% | n/a | n/a | n/a |
| Shinkong Synthetic Fibers 1409.TW | Taiwan | $1.03B | +23% | -7% | 14% | n/a | n/a | n/a |
| Shikoku Kasei 4099.T | Japan | $1.03B | -26% | +20% | 18% | 14.8× | 5.0% | +6.5% |
| Hebei Jinniu Chemical Industry 600722.SS | China | $1.16B | -16% | -1% | 18% | n/a | 28.1% | +3.0% |
| Jinhong Gas 688106.SS | China | $1.17B | -42% | +15% | 2% | 67.0× | n/a | n/a |
| Kureha 4023.T | Japan | $1.02B | +7% | +7% | 10% | 22.6× | 4.1% | +2.3% |
| Hunan Kaimeite Gases 002549.SZ | China | $1.18B | -43% | -7% | -5% | 38.9× | n/a | n/a |
| Guangzhou Lingwe Technology 301373.SZ | China | $1.01B | -37% | +15% | 26% | 48.0× | 35.6% | +7.4% |
| Chemtrade Logistics Income Fund CHE-UN.TO | Canada | $1.19B | -17% | +12% | 12% | 9.5× | -0.8% | +7.7% |
| Toagosei 4045.T | Japan | $1.19B | +3% | +2% | 9% | 14.4× | n/a | n/a |
| Yibin Tianyuan 002386.SZ | China | $1,000M | -27% | +14% | 3% | n/a | n/a | n/a |