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Chinese company that pivoted from specialty security glass into heterojunction solar cells/modules, and more recently AI computing services.
Chinese company that pivoted from specialty security glass into heterojunction solar cells/modules, and more recently AI computing services.
Solar cells and modules are sold on price in a crowded, oversupplied market where scale decides cost, and this producer is small. The special-treatment (ST) tag the stock exchange attaches signals financial or listing risk, which can limit access to funding.
In one line: A distressed Chinese industrial pivoting through solar into AI data-center services.
Moat: none. History of business-model pivots and financial distress (ST-flagged) with no durable competitive edge.
Headquarters: Guangzhou, China · Founded: 1994 · Employees: 434
Size Gansu Golden Solar (300093.SZ) is a China Consumer Discretionary company (Home Furnishings) with a market value of $2.42B, the 1062nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.50 on 6 Nov 2026.
Performance Over six months the shares fell 9.2%, against -12.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 8.7% over the last twelve months (peer median +1.1%); the operating margin is -151.9% (peer median 6.5%).
Valuation It trades at 72.5× enterprise value to sales against a peer median of 1.3× (most expensive of 21).
Capital Return on invested capital runs 25.0 points below its cost of capital (17.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥223M | CN¥301M | CN¥124M | CN¥580M | CN¥522M |
| Revenue growth | — | +143% | -79% | +11% | — |
| Gross profit | CN¥23.1M | -CN¥168M | -CN¥294M | -CN¥112M | -CN¥32.4M |
| EBITDA | n/a | -CN¥142M | -CN¥321M | -CN¥217M | -CN¥186M |
| Net income | CN¥431M | CN¥203M | -CN¥795M | -CN¥362M | -CN¥269M |
| Free cash flow | -CN¥246M | -CN¥459M | -CN¥357M | -CN¥900M | -CN¥951M |
| Capital expenditure | CN¥192M | CN¥253M | CN¥50.7M | CN¥773M | CN¥639M |
| Total debt | CN¥35.7M | CN¥314M | CN¥2.31B | CN¥2.05B | CN¥1.78B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Gansu Golden Solar 300093.SZ | $2.42B | -9% | -9% | -152% | 72.5× | n/a |
| LONGi Green Energy Technology 601012.SS | $14.1B | -25% | -16% | -12% | 1.4× | n/a |
| Trina Solar 688599.SS | $3.90B | -36% | -3% | -9% | 0.9× | -4.3% |
| Risen Energy 300118.SZ | $1.71B | -42% | -52% | -39% | 3.1× | 38.4% |
| JA Solar Technology 002459.SZ | $3.50B | -35% | -23% | n/a | 1.5× | -20.3% |
| Jinko Solar 688223.SS | $6.73B | -34% | -18% | -11% | 1.3× | n/a |
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 | 300093.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.7% | +0.9% | 10th lowest of 21 |
| 6-month return | -9.2% | -12.6% | 8th highest of 21 |
| Distance from 52-week high | -29.4% | -34.0% | 9th highest of 21 |
| Revenue growth (TTM) | -8.7% | +1.1% | 3rd lowest of 21 |
| Operating margin | -151.9% | 6.5% | lowest of 21 |
| EV / Sales | 72.5× | 1.3× | most expensive of 21 |
| ROIC minus cost of capital | -25.0 pp | -1.3 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gansu Golden Solar 300093.SZ | China | $2.42B | -9% | -9% | -152% | 72.5× | n/a | n/a |
| Patrick Industries PATK | United States | $2.53B | -17% | +2% | 6% | 1.1× | 9.3% | +9.7% |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | 1.8× | n/a | n/a |
| Asahi India Glass ASAHIINDIA.NS | India | $2.79B | +22% | +20% | 16% | 5.1× | n/a | n/a |
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 3.0× | -3.4% | +33.2% |
| Oppein Home 603833.SS | China | $2.88B | -32% | -27% | 5% | 1.5× | 6.1% | +3.2% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 1.7× | 28.4% | +22.1% |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 3.2× | -5.1% | +20.7% |
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | 17.3× | n/a | n/a |
| LIXIL 5938.T | Japan | $3.07B | +4% | +2% | 2% | 0.7× | 17.3% | +1.9% |
| Nien Made Enterprise 8464.TW | Taiwan | $3.08B | +1% | +4% | 35% | 2.8× | -8.3% | +4.2% |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 5.7× | n/a | n/a |
| Jason Furniture (Hangzhou) 603816.SS | China | $3.57B | -10% | +1% | 9% | 1.1× | -2.2% | +9.7% |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 1.1× | 0.2% | -0.6% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 0.5× | -1.0% | +20.1% |
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | 1.0× | 19.4% | +2.1% |
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 0.6× | -6.7% | +6.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 0.9× | -7.0% | +17.0% |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 0.7× | 4.2% | +4.2% |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 0.7× | -6.5% | 0.0% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | 1.5× | n/a | n/a |