Employees: 308
Size HPF (300350.SZ) is a China Industrials company (Air Freight/Couriers) with a market value of $465M, the 4041st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.68 on 6 Nov 2026.
Performance Over six months the shares fell 12.5%, against -11.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 73.2% over the last twelve months (peer median +2.8%); the operating margin is -4.7% (peer median 3.1%).
Valuation It trades at 5.0× enterprise value to sales against a peer median of 1.8× (5th most expensive of 20).
Capital Return on invested capital runs 9.5 points below its cost of capital (7.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥628M | CN¥459M | CN¥333M | CN¥361M | CN¥513M |
| Revenue growth | — | +38% | -8% | -30% | — |
| Gross profit | CN¥41.4M | CN¥33.3M | CN¥31.9M | CN¥54.1M | CN¥72.5M |
| EBITDA | CN¥4.70M | -CN¥4.02M | -CN¥388,820 | -CN¥22.4M | -CN¥54.1M |
| Net income | -CN¥47.9M | -CN¥36.0M | CN¥17.1M | CN¥98.8M | -CN¥67.8M |
| Free cash flow | -CN¥279M | -CN¥191M | -CN¥16.0M | -CN¥83.6M | -CN¥27.8M |
| Capital expenditure | CN¥183M | CN¥118M | CN¥6.23M | CN¥21.3M | CN¥12.7M |
| Total debt | CN¥167M | CN¥134M | CN¥45.8M | CN¥83.4M | CN¥124M |
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| Measure | 300350.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | -6.9% | 10th highest of 21 |
| 6-month return | -12.5% | -11.6% | 10th lowest of 20 |
| Distance from 52-week high | -39.7% | -25.7% | 4th lowest of 21 |
| Revenue growth (TTM) | +73.2% | +2.8% | highest of 21 |
| Operating margin | -4.7% | 3.1% | 3rd lowest of 20 |
| EV / Sales | 5.0× | 1.8× | 5th most expensive of 20 |
| ROIC minus cost of capital | -9.5 pp | -2.3 pp | 2nd lowest of 19 |
| Net debt / EBITDA | 12.8× | 1.7× | 4th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HPF 300350.SZ | China | $465M | -13% | +73% | -5% | 5.0× | n/a | n/a |
| Shanghai Shine-Link International Logistics 603648.SS | China | $467M | -15% | +10% | 11% | 1.9× | -0.7% | +0.3% |
| PostNL PNL.AS | Netherlands | $473M | -16% | +2% | 1% | n/a | n/a | n/a |
| Mahindra Logistics MAHLOG.NS | India | $443M | +5% | +20% | 2% | 0.6× | 33.7% | +16.5% |
| Guangzhou Jiacheng International Logistics 603535.SS | China | $427M | -30% | -29% | -2% | 4.2× | 16.0% | -0.4% |
| Radiant Logistics RLGT | United States | $418M | +8% | +4% | 2% | 0.5× | 16.3% | +0.8% |
| Sindhu Trade Links SINDHUTRAD.NS | India | $405M | -12% | -64% | 2% | 9.2× | n/a | n/a |
| Farglory Free Trade Zone Investment 5607.TW | Taiwan | $534M | 0% | +30% | 42% | 6.2× | -2.7% | +16.8% |
| Japan Transcity 9310.T | Japan | $538M | +15% | +1% | 7% | 0.8× | 1.3% | +4.4% |
| Singapore Post S08.SI | Singapore | $546M | -17% | -73% | 3% | 1.9× | n/a | n/a |
| TVS Supply Chain Solutions TVSSCS.NS | India | $547M | -4% | +17% | 2% | 0.4× | 14.4% | +9.7% |
| Cedar Development 002485.SZ | China | $392M | -2% | -32% | -17% | 5.0× | n/a | n/a |
| Hichain Logistics 300873.SZ | China | $560M | -22% | +15% | 14% | 1.8× | 3.2% | +12.1% |
| Xiamen Xinde 000701.SZ | China | $568M | -3% | -22% | n/a | 0.6× | n/a | n/a |
| LEAP India LEAPIND.NS | India | $569M | n/a | +56% | 27% | 8.2× | n/a | n/a |
| Bondex Supply Chain Management 603836.SS | China | $364M | -14% | +17% | 1% | 0.2× | n/a | n/a |
| COSCO Shipping International Singapore F83.SI | Singapore | $347M | -18% | +10% | 7% | 1.9× | 17.2% | +0.9% |
| Shanghai Ace Investment & Development 603329.SS | China | $341M | -19% | -60% | 10% | 1.2× | -6.5% | +10.9% |
| Guangdong Prolto Supply Chain Management 002769.SZ | China | $337M | -39% | -66% | -13% | 11.3× | 41.0% | -42.0% |
| China Master Logistics 603967.SS | China | $644M | -11% | +11% | 4% | 0.4× | -12.1% | +11.4% |
| Dimerco Express 5609.TWO | Taiwan | $333M | -1% | +2% | 4% | 0.2× | -15.9% | +5.3% |