Local utility/infrastructure company in Shunde, Guangdong.
Local utility/infrastructure company in Shunde, Guangdong.
Moat: none
Headquarters: Foshan, Guangdong, China · Employees: 2,240
Size Guangdong Shunkong Development (003039.SZ) is a China Utilities company (Water Utilities) with a market value of $1.12B, the 2089th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.05 on 6 Nov 2026.
Performance Over six months the shares fell 15.7%, against -8.5% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +2.6%); the operating margin is 24.8% (peer median 20.7%).
Valuation It trades at 4.6× enterprise value to sales against a peer median of 4.5× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points above its cost of capital (7.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.29B | CN¥2.22B | CN¥1.83B | CN¥1.45B | CN¥1.32B |
| Revenue growth | — | +21% | +26% | +10% | — |
| Gross profit | CN¥1.33B | CN¥942M | CN¥770M | CN¥603M | CN¥578M |
| EBITDA | n/a | CN¥932M | CN¥812M | CN¥643M | CN¥634M |
| Net income | CN¥326M | CN¥304M | CN¥268M | CN¥244M | CN¥239M |
| Free cash flow | CN¥48.7M | -CN¥19.4M | -CN¥33.7M | CN¥266M | CN¥245M |
| Capital expenditure | CN¥542M | CN¥623M | CN¥531M | CN¥300M | CN¥372M |
| Total debt | CN¥3.11B | CN¥2.96B | CN¥2.33B | CN¥1.03B | CN¥726M |
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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 | 003039.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | -2.4% | 9th lowest of 21 |
| 6-month return | -15.7% | -8.5% | 10th lowest of 21 |
| Distance from 52-week high | -35.7% | -20.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +6.5% | +2.6% | 8th highest of 21 |
| Operating margin | 24.8% | 20.7% | 7th highest of 21 |
| EV / Sales | 4.6× | 4.5× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.3% | -0.6% | 3rd most demanding of 10 |
| Growth delivered (Del g) | +12.5% | +6.9% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | -8.2 pp | -8.2 pp | 5th least demanding of 10 |
| ROIC minus cost of capital | +2.0 pp | -0.1 pp | 6th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Shunkong Development 003039.SZ | China | $1.12B | -16% | +6% | 25% | 4.6× | 4.3% | +12.5% |
| Middlesex Water MSEX | United States | $1.15B | +16% | +9% | 31% | 7.5× | n/a | n/a |
| China Water Affairs 0855.HK | Hong Kong | $823M | -22% | -11% | 25% | 3.8× | -0.6% | 0.0% |
| Indium Target Advanced Materials (Harbin) 000711.SZ | China | $1.54B | -27% | +46% | -4% | 11.2× | n/a | n/a |
| Jiangsu Jiangnan Water 601199.SS | China | $763M | +2% | -4% | 12% | 3.3× | -1.5% | +8.9% |
| Jiangxi Hongcheng Environment 600461.SS | China | $1.69B | -17% | -11% | 24% | 2.6× | -10.2% | +2.6% |
| Wuhan Xianglong Power Industry 600769.SS | China | $687M | -24% | +4% | 20% | 52.4× | n/a | n/a |
| Qianjiang Water Resources Development 600283.SS | China | $627M | -19% | +7% | 11% | 3.0× | n/a | n/a |
| Guangxi Nanning Waterworks 601368.SS | China | $601M | -9% | 0% | 22% | 8.4× | n/a | n/a |
| Haitian Water 603759.SS | China | $535M | -17% | +112% | 5% | 1.4× | n/a | n/a |
| York Water YORW | United States | $529M | +10% | +9% | 37% | 8.6× | n/a | n/a |
| Zhongshan Public Utilities 000685.SZ | China | $2.36B | -8% | -11% | 11% | 5.3× | 9.9% | +16.2% |
| Jiangsu United Water Technology 603291.SS | China | $476M | -35% | -13% | 11% | 4.1× | -0.5% | +6.9% |
| Consolidated Water CWCO | United States | $436M | -17% | -1% | 12% | 2.4× | 4.5% | +12.7% |
| Chongqing Water 601158.SS | China | $3.01B | -6% | +1% | 14% | 3.9× | -5.0% | +3.5% |
| H2O America HTO | United States | $3.04B | +9% | +4% | 21% | 5.4× | n/a | n/a |
| Beijing Capital Eco-Environment Protection 600008.SS | China | $3.09B | -8% | -8% | 21% | 4.7× | 0.3% | -0.4% |
| Pennon PNN.L | United Kingdom | $3.18B | -35% | +23% | 25% | 5.3× | n/a | n/a |
| California Water Service CWT | United States | $3.21B | +17% | +7% | 21% | 4.4× | n/a | n/a |
| Chengdu Xingrong Environment 000598.SZ | China | $3.27B | +7% | +1% | 29% | 3.7× | -8.2% | +10.8% |
| Artesian Resources ARTNA | United States | $357M | +7% | +6% | 32% | 4.5× | n/a | n/a |