Loading…
Shanghai-based maker of microfiber synthetic leather used in shoes, bags, upholstery and automotive interiors.
Shanghai-based maker of microfiber synthetic leather used in shoes, bags, upholstery and automotive interiors.
Sells synthetic leather by the square metre, with the highest-priced grades going to branded footwear and automotive customers, so product mix and grade matter more than volume alone. It belongs to the Huafon group, a Zhejiang chemicals and fibres producer.
In one line: A Chinese synthetic-leather maker, akin to a small Kuraray.
Moat: narrow (scale, process know-how). Part of Huafon Group's integrated chemical-to-material scale, a modest cost edge.
Headquarters: Shanghai, China · Employees: 2,290
Size Huafon Microfibre (Shanghai) (300180.SZ) is a China Consumer Discretionary company (Textiles) with a market value of $1.06B, the 2192nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.02 on 6 Nov 2026.
Performance Over six months the shares fell 23.9%, against -8.5% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 5.6% over the last twelve months (peer median -0.1%); the operating margin is -0.7% (peer median 6.0%).
Valuation It trades at 2.0× enterprise value to sales against a peer median of 1.4× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.3 points below its cost of capital (10.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.86B | CN¥3.99B | CN¥4.57B | CN¥4.58B | CN¥4.23B |
| Revenue growth | — | -13% | 0% | +8% | — |
| Gross profit | CN¥818M | CN¥534M | CN¥681M | CN¥471M | CN¥549M |
| EBITDA | n/a | CN¥537M | CN¥613M | CN¥324M | CN¥457M |
| Net income | -CN¥19.3M | CN¥66.8M | CN¥71.0M | -CN¥231M | -CN¥354M |
| Free cash flow | CN¥493M | CN¥557M | CN¥815M | CN¥220M | -CN¥97.4M |
| Capital expenditure | CN¥87.4M | CN¥94.3M | CN¥87.8M | CN¥106M | CN¥247M |
| Total debt | CN¥818M | CN¥794M | CN¥1.63B | CN¥2.27B | CN¥2.47B |
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 |
|---|---|---|---|---|---|---|
| Huafon Microfibre (Shanghai) 300180.SZ | $1.06B | -24% | -6% | -1% | 2.0× | 16.2% |
| Jiangsu Jujie Microfiber Technology 300819.SZ | $734M | -42% | +5% | 9% | 8.4× | n/a |
| Kuraray 3405.T | $3.52B | +14% | +3% | 7% | 0.9× | -0.2% |
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 | 300180.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.5% | -0.5% | 8th lowest of 21 |
| 6-month return | -23.9% | -8.5% | 7th lowest of 21 |
| Distance from 52-week high | -46.6% | -32.1% | 3rd lowest of 21 |
| Revenue growth (TTM) | -5.6% | -0.1% | 8th lowest of 21 |
| Operating margin | -0.7% | 6.0% | 2nd lowest of 21 |
| EV / Sales | 2.0× | 1.4× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 16.2% | 9.4% | 5th most demanding of 15 |
| Growth delivered (Del g) | +4.4% | +3.9% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | +11.8 pp | +1.5 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -5.3 pp | -2.0 pp | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huafon Microfibre (Shanghai) 300180.SZ | China | $1.06B | -24% | -6% | -1% | 2.0× | 16.2% | +4.4% |
| Seiren 3569.T | Japan | $1.07B | -1% | +12% | 12% | 0.7× | -4.9% | +11.7% |
| Shanghai Haixin 600851.SS | China | $1.08B | +4% | -15% | 7% | 10.0× | n/a | n/a |
| Nanjing Chemical Fibre 600889.SS | China | $1.03B | -24% | +115% | 5% | 8.4× | 35.4% | -3.9% |
| Zhejiang Taihua New Material 603055.SS | China | $1.09B | -9% | +3% | 10% | 1.7× | -5.0% | +20.7% |
| Zhejiang Hangmin 600987.SS | China | $1.02B | -6% | -23% | 8% | 0.4× | n/a | n/a |
| Kurabo Industries 3106.T | Japan | $1.10B | +33% | -3% | 7% | 1.1× | 8.2% | +3.3% |
| Sunvim 002083.SZ | China | $1.16B | -20% | +19% | 17% | 1.5× | -12.1% | +3.3% |
| Shenzhen Fuanna Bedding & Furnishing 002327.SZ | China | $951M | -26% | -5% | 12% | 2.4× | -1.3% | -2.1% |
| Hyosung Tnc 298020.KS | South Korea | $911M | -45% | +8% | 5% | 0.1× | n/a | n/a |
| Zhejiang Xinao Textiles 603889.SS | China | $908M | -5% | +20% | 13% | 1.4× | n/a | n/a |
| Formosa Taffeta 1434.TW | Taiwan | $888M | +9% | -7% | 2% | 1.3× | 19.9% | -0.9% |
| Zhewen Pictures 601599.SS | China | $884M | +37% | +4% | 1% | 1.8× | 46.4% | +13.9% |
| Zhejiang Yunzhongma 603130.SS | China | $867M | -8% | +4% | 4% | 2.4× | 21.1% | +18.8% |
| Jiangsu Sanfame Polyester Material 600370.SS | China | $857M | -44% | -13% | -3% | 0.7× | n/a | n/a |
| Shanghai Anoky 300067.SZ | China | $853M | -29% | +36% | 3% | 4.8× | n/a | n/a |
| Zhejiang Hailide New Material 002206.SZ | China | $845M | -18% | -7% | 11% | 1.3× | -2.2% | +10.7% |
| Shanxi Guoxin Energy Corporation Limited 600617.SS | China | $838M | -16% | -9% | 3% | 1.4× | 0.8% | +4.5% |
| Huafu Fashion 002042.SZ | China | $822M | -31% | -23% | 2% | 1.3× | 15.1% | -10.8% |
| Xingye Leather Technology 002674.SZ | China | $807M | +35% | +7% | 8% | 1.9× | 14.3% | +15.4% |
| Gunze 3002.T | Japan | $797M | +17% | -4% | 5% | 1.1× | 10.5% | +1.1% |