Loading…
One of China's largest lithium-battery cathode-materials makers, producing NCM, LCO and other cathode chemistries.
One of China's largest lithium-battery cathode-materials makers, producing NCM, LCO and other cathode chemistries.
Prices cathode powder at the cost of its metal inputs, such as lithium, nickel and cobalt, plus a processing margin, so revenue moves with metal prices while profit depends on volume and the processing spread. The chemistry follows customers' cells: nickel-rich for long-range electric cars, cobalt oxide for phones and laptops.
In one line: A leading Chinese cathode-material supplier, similar in role to Umicore's battery-material.
Moat: narrow (scale, customer qualification, process know-how). Large-scale, well-qualified cathode producer with long-standing relationships across battery makers.
Headquarters: Beijing, China · Employees: 1,750
Size Beijing Easpring Material Technology (300073.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $2.86B, the 901st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.99 on 6 Nov 2026.
Performance Over six months the shares fell 44.9%, against -10.4% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 115.8% over the last twelve months (peer median +8.3%); the operating margin is 5.1% (peer median 10.7%).
Valuation It trades at 18.8× forward earnings against a peer median of 19.2× (10th cheapest of 20).
Capital Return on invested capital runs 4.3 points below its cost of capital (9.7% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥20.4B | CN¥10.4B | CN¥7.58B | CN¥15.1B | CN¥21.2B |
| Revenue growth | — | +37% | -50% | -29% | — |
| Gross profit | CN¥2.58B | CN¥1.23B | CN¥856M | CN¥2.67B | CN¥3.60B |
| EBITDA | n/a | CN¥957M | CN¥643M | CN¥2.34B | CN¥2.46B |
| Net income | CN¥773M | CN¥632M | CN¥472M | CN¥1.92B | CN¥2.26B |
| Free cash flow | -CN¥3.42B | -CN¥758M | CN¥759M | -CN¥70.2M | CN¥124M |
| Capital expenditure | CN¥3.71B | CN¥1.92B | CN¥871M | CN¥1.33B | CN¥1.12B |
| Total debt | CN¥8.38B | CN¥4.11B | CN¥1.82B | CN¥2.19B | CN¥6.75B |
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 |
|---|---|---|---|---|---|---|
| Beijing Easpring Material Technology 300073.SZ | $2.86B | -45% | +116% | 5% | 18.8× | n/a |
| XTC New Energy Materials (Xiamen) 688778.SS | $3.01B | -52% | +78% | 4% | 19.2× | 16.0% |
| Ningbo Ronbay New Energy Technology 688005.SS | $2.05B | -45% | +41% | 1% | 37.8× | n/a |
| Minmetals New Energy Materials (Hunan) 688779.SS | $2.00B | -36% | +146% | 5% | 23.8× | n/a |
| Posco Future M 003670.KS | $10.6B | -36% | -9% | 2% | 282.1× | n/a |
| L&F 066970.KS | $2.15B | -62% | +81% | 8% | n/a | n/a |
| Ecopro BM 247540.KS | $6.53B | -60% | -4% | 6% | 965.8× | n/a |
| CNGR Advanced Material 300919.SZ | $4.72B | -48% | +46% | 7% | 12.6× | n/a |
| Sumitomo Metal Mining 5713.T | $13.2B | -19% | +22% | 14% | 8.1× | 8.5% |
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 | 300073.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.2% | -5.4% | 4th lowest of 21 |
| 6-month return | -44.9% | -10.4% | 2nd lowest of 21 |
| Distance from 52-week high | -52.6% | -34.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +115.8% | +8.3% | highest of 21 |
| Operating margin | 5.1% | 10.7% | 5th lowest of 21 |
| Forward P/E | 18.8× | 19.2× | 10th cheapest of 20 |
| ROIC minus cost of capital | -4.3 pp | +1.5 pp | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Easpring Material Technology 300073.SZ | China | $2.86B | -45% | +116% | 5% | 18.8× | n/a | n/a |
| Sichuan Qiaoyuan Gas 301286.SZ | China | $2.88B | -4% | +8% | 26% | 73.4× | 31.8% | +8.0% |
| Qingdao Gon Technology 002768.SZ | China | $2.83B | +48% | +15% | 7% | 17.7× | n/a | n/a |
| Shanghai Bairun Investment 002568.SZ | China | $2.82B | -8% | +8% | 28% | 24.2× | 14.5% | +8.8% |
| PI Industries PIIND.NS | India | $2.79B | -44% | -15% | 13% | 22.7× | n/a | n/a |
| XTC New Energy Materials (Xiamen) 688778.SS | China | $3.01B | -52% | +78% | 4% | 19.2× | 16.0% | +20.0% |
| K+s SDF.DE | Germany | $2.68B | -13% | +6% | 34% | 11.7× | n/a | n/a |
| Guizhou Chanhen Chemical 002895.SZ | China | $2.64B | -20% | +15% | 18% | 12.9× | 2.4% | +36.1% |
| Shanghai Haoyuan Chemexpress 688131.SS | China | $3.11B | +30% | +28% | 13% | 59.6× | 32.0% | +35.2% |
| Nifco 7988.T | Japan | $2.62B | +6% | +4% | 14% | 11.7× | -3.5% | +6.6% |
| China Petroleum Engineering 600339.SS | China | $2.60B | -24% | +8% | 1% | 26.7× | n/a | n/a |
| Luxi Chemical 000830.SZ | China | $3.13B | -36% | -1% | 4% | 12.1× | -1.4% | +10.6% |
| Hawkins HWKN | United States | $3.14B | -10% | +9% | 11% | 33.9× | 15.2% | +12.7% |
| Quaker Houghton KWR | United States | $2.58B | +2% | +9% | 9% | 16.9× | 16.3% | +5.9% |
| Levima Advanced Materials 003022.SZ | China | $3.17B | -34% | +66% | 10% | 30.1× | n/a | n/a |
| Hubei Zhenhua Chemical 603067.SS | China | $2.56B | -35% | +31% | 11% | 23.6× | n/a | n/a |
| Kemira KEMIRA.HE | Finland | $2.55B | -8% | -3% | 8% | 16.0× | 3.9% | +2.6% |
| Bloomage Biotechnology 688363.SS | China | $2.49B | -16% | -22% | 5% | 55.6× | 20.8% | +9.8% |
| Daicel 4202.T | Japan | $2.48B | +24% | +2% | 7% | 11.1× | 6.1% | +8.1% |
| Hexpol HPOL-B.ST | Sweden | $3.30B | +28% | -1% | 14% | 15.6× | 3.1% | +7.6% |
| Shandong Dongyue Silicone Material 300821.SZ | China | $2.43B | -11% | +13% | 13% | n/a | 20.7% | +8.6% |