Loading…
Chinese maker of advanced ceramic materials: MLCC dielectric powders, zirconia ceramics, catalytic-converter substrates and battery materials.
Chinese maker of advanced ceramic materials: MLCC dielectric powders, zirconia ceramics, catalytic-converter substrates and battery materials.
Sells ceramic powder by weight to capacitor makers, who must qualify each grade before buying, after which orders repeat. It spans four unrelated end markets, so results do not follow a single cycle.
In one line: A materials-science conglomerate akin to a smaller Ferro/CoorsTek.
Moat: narrow (IP / patents, process know-how). Materials-science know-how in ceramic powder synthesis, competing against both domestic and Japanese specialty-materials makers.
Headquarters: Zibo, China · Employees: 5,170
Size Shandong Sinocera Functional Material (300285.SZ) is a China Industrials company (Electrical Products) with a market value of $5.67B, the 441st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥38.59 on 6 Nov 2026.
Performance Over six months the shares gained 7.8%, against -32.7% for the median peer and -16.4% for the China market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 23.2% over the last twelve months (peer median +6.9%); the operating margin is 14.2% (peer median 9.0%).
Valuation It trades at 48.6× forward earnings against a peer median of 21.6× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +27 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 5.9 points below its cost of capital (14.0% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.38B | CN¥4.56B | CN¥4.03B | CN¥3.83B | CN¥3.15B |
| Revenue growth | — | +13% | +5% | +22% | — |
| Gross profit | CN¥2.21B | CN¥1.61B | CN¥1.49B | CN¥1.39B | CN¥1.02B |
| EBITDA | n/a | CN¥1.04B | CN¥1.03B | CN¥931M | CN¥696M |
| Net income | CN¥666M | CN¥610M | CN¥605M | CN¥569M | CN¥497M |
| Free cash flow | CN¥60.0M | CN¥429M | CN¥382M | CN¥211M | -CN¥336M |
| Capital expenditure | CN¥792M | CN¥406M | CN¥376M | CN¥441M | CN¥546M |
| Total debt | CN¥1.48B | CN¥975M | CN¥878M | CN¥1.09B | CN¥290M |
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 |
|---|---|---|---|---|---|---|
| Shandong Sinocera Functional Material 300285.SZ | $5.67B | +8% | +23% | 14% | 48.6× | 40.1% |
| Murata Manufacturing 6981.T | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% |
| Tdk 6762.T | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% |
| Kyocera 6971.T | $23.4B | +3% | +7% | 6% | 22.5× | 21.3% |
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 | 300285.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.9% | -16.0% | 2nd lowest of 21 |
| 6-month return | +7.8% | -32.7% | highest of 21 |
| Distance from 52-week high | -65.8% | -52.5% | 3rd lowest of 21 |
| Revenue growth (TTM) | +23.2% | +6.9% | 9th highest of 21 |
| Operating margin | 14.2% | 9.0% | 9th highest of 21 |
| Forward P/E | 48.6× | 21.6× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 40.1% | 12.0% | most demanding of 14 |
| Growth delivered (Del g) | +12.6% | +16.2% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | +27.4 pp | -4.2 pp | most demanding of 14 |
| ROIC minus cost of capital | -5.9 pp | +1.5 pp | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Sinocera Functional Material 300285.SZ | China | $5.67B | +8% | +23% | 14% | 48.6× | 40.1% | +12.6% |
| Suzlon Energy SUZLON.NS | India | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% | +37.9% |
| Yaskawa Electric 6506.T | Japan | $5.71B | -38% | +6% | 8% | 19.7× | 24.8% | +6.8% |
| Hebei Sinopack Electronic Technology 003031.SZ | China | $5.62B | -33% | +43% | 19% | 36.1× | 34.9% | +28.6% |
| Forgent Power Solutions FPS | United States | $5.93B | -52% | +89% | 14% | 14.4× | n/a | n/a |
| Wolong Electric 600580.SS | China | $5.39B | -39% | -11% | 4% | 39.6× | 25.2% | +4.2% |
| Sunwoda Electronic 300207.SZ | China | $5.37B | -33% | +36% | -1% | 16.0× | n/a | n/a |
| Gates Industrial GTES | United States | $6.05B | -8% | +4% | 16% | 12.8× | 9.7% | +4.3% |
| Nexans NEX.PA | France | $6.06B | -26% | -13% | 6% | 17.2× | 5.6% | +5.5% |
| EnerSys ENS | United States | $5.30B | -36% | +4% | 15% | 11.3× | 0.5% | +4.7% |
| Jiangsu Yoke Technology 002409.SZ | China | $6.12B | +1% | +7% | 15% | 32.1× | 26.4% | +30.6% |
| HANGZHOU FIRST APPLIED MATERIAL 603806.SS | China | $5.14B | -30% | -9% | 9% | 22.0× | 7.5% | +13.1% |
| Gotion High-tech 002074.SZ | China | $6.45B | -32% | +54% | 3% | 25.6× | n/a | n/a |
| Qingdao TGOOD Electric 300001.SZ | China | $4.97B | +6% | +14% | 9% | 21.9× | 12.0% | +16.2% |
| Hunan Yuneng New Energy Battery Material 301358.SZ | China | $6.46B | -50% | +130% | 9% | 7.8× | n/a | n/a |
| Ningbo Orient Wires & Cables 603606.SS | China | $4.96B | -23% | +36% | 12% | 21.1× | 3.6% | +16.5% |
| Ecopro BM 247540.KS | South Korea | $6.53B | -60% | -4% | 6% | 965.8× | n/a | n/a |
| Shenzhen Megmeet Electrical 002851.SZ | China | $6.55B | -38% | +29% | 1% | 60.9× | n/a | n/a |
| Powell Industries POWL | United States | $4.85B | -57% | +7% | 20% | 21.2× | 11.2% | +16.3% |
| Nkt A/s NKT.CO | Denmark | $6.73B | -15% | +2% | 7% | 26.4× | n/a | n/a |
| Fortune Electric 1519.TW | Taiwan | $4.75B | -50% | +5% | 21% | 26.0× | 16.1% | +23.6% |