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China's leading outdoor-apparel and gear brand, selling jackets, backpacks and camping equipment.
China's leading outdoor-apparel and gear brand, selling jackets, backpacks and camping equipment.
In one line: China's The North Face/Columbia Sportswear.
Moat: narrow (brand, distribution). First-mover brand recognition in China's outdoor-gear category with broad retail distribution.
Headquarters: Beijing, China · Founded: 1999 · Employees: 661
Size Toread (300005.SZ) is a China Consumer Discretionary company (Apparel/Footwear) with a market value of $1.21B, the 1957th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.10 on 6 Nov 2026.
Performance Over six months the shares fell 45.4%, against -4.0% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 22.2% over the last twelve months (peer median +8.8%); the operating margin is -0.8% (peer median 8.1%).
Valuation It trades at 60.7× forward earnings against a peer median of 18.2× (4th most expensive of 17).
Capital Return on invested capital runs 8.6 points below its cost of capital (9.7% 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¥1.38B | CN¥1.59B | CN¥1.38B | CN¥1.13B |
| Revenue growth | — | -13% | +15% | +22% | — |
| Gross profit | CN¥761M | CN¥608M | CN¥703M | CN¥625M | CN¥553M |
| EBITDA | n/a | CN¥75.3M | CN¥169M | CN¥104M | CN¥55.2M |
| Net income | CN¥39.1M | CN¥79.0M | CN¥107M | CN¥71.8M | CN¥69.9M |
| Free cash flow | CN¥25.6M | CN¥11.5M | CN¥220M | CN¥413M | CN¥138M |
| Capital expenditure | CN¥47.1M | CN¥34.1M | CN¥16.3M | CN¥7.08M | CN¥79.4M |
| Total debt | CN¥618M | CN¥302M | CN¥256M | CN¥43.1M | CN¥56.4M |
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 |
|---|---|---|---|---|---|---|
| Toread 300005.SZ | $1.21B | -45% | +22% | -1% | 60.7× | n/a |
| Anta Sports 2020.HK | $28.2B | +2% | +17% | 21% | 12.5× | -0.7% |
| Bosideng International 3998.HK | $6.64B | +3% | +8% | 18% | 10.3× | -10.8% |
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 | 300005.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.3% | +0.7% | 6th lowest of 21 |
| 6-month return | -45.4% | -4.0% | lowest of 21 |
| Distance from 52-week high | -64.7% | -31.0% | lowest of 21 |
| Revenue growth (TTM) | +22.2% | +8.8% | 3rd highest of 21 |
| Operating margin | -0.8% | 8.1% | 5th lowest of 21 |
| Forward P/E | 60.7× | 18.2× | 4th most expensive of 17 |
| ROIC minus cost of capital | -8.6 pp | +2.6 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Toread 300005.SZ | China | $1.21B | -45% | +22% | -1% | 60.7× | n/a | n/a |
| Wacoal 3591.T | Japan | $1.21B | -21% | +2% | -1% | 36.5× | 35.7% | +2.4% |
| Salvatore Ferragamo SFER.MI | Italy | $1.22B | -19% | -2% | 3% | 202.8× | 22.5% | +2.2% |
| Lancy 002612.SZ | China | $1.19B | +11% | +9% | 10% | 22.4× | -1.2% | +15.9% |
| Tayho Advanced Materials 002254.SZ | China | $1.26B | -13% | +6% | -2% | 70.6× | 10.1% | +8.1% |
| Xtep International 1368.HK | Hong Kong | $1.27B | -16% | +10% | 10% | 7.7× | -10.3% | +10.8% |
| Guangdong Golden Dragon Development 000712.SZ | China | $1.12B | -20% | -3% | -20% | n/a | n/a | n/a |
| Pearl Global Industries PGIL.NS | India | $1.31B | +51% | +14% | 8% | 36.9× | 25.0% | +27.5% |
| Lai Yih Footwear 6890.TW | Taiwan | $1.11B | -7% | -11% | 8% | 12.0× | n/a | n/a |
| Jihua 601718.SS | China | $1.10B | -43% | -22% | -10% | n/a | n/a | n/a |
| Human Made 456A.T | Japan | $1.10B | +39% | +27% | 30% | 45.5× | 7.7% | n/a |
| 361 Degrees International 1361.HK | Hong Kong | $1.34B | -11% | +13% | 14% | 6.1× | -20.3% | +16.0% |
| G-III Apparel GIII | United States | $1.35B | -1% | -9% | 8% | 13.0× | -9.5% | +7.5% |
| New Wave NEWA-B.ST | Sweden | $1.36B | +4% | +9% | 11% | 14.4× | n/a | n/a |
| Jiangsu Hongdou Industrial 600400.SS | China | $1.06B | +11% | +22% | -9% | 102.3× | 13.7% | -1.3% |
| Topscore Fashion 603608.SS | China | $1.05B | +28% | +9% | 4% | n/a | 51.6% | -9.4% |
| Dazzle Fashion 603587.SS | China | $1.03B | +10% | +7% | 16% | 22.1× | -9.2% | -3.5% |
| YoungoneHoldings 009970.KS | South Korea | $1.42B | -11% | +14% | 15% | 6.5× | n/a | n/a |
| Stella International 1836.HK | Hong Kong | $1.47B | -10% | +2% | 8% | 11.8× | -9.5% | +6.8% |
| JNBY Design 3306.HK | Hong Kong | $1.47B | +7% | +12% | 20% | 9.4× | -7.4% | +6.9% |
| Zhonghong Pulin Medical Products 300981.SZ | China | $990M | +5% | +11% | 9% | n/a | -1.7% | -13.1% |