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Chinese company spanning ceramic ink/glaze materials and lithium-battery materials (cobalt/graphite), following a diversification from ceramics into batteries.
Chinese company spanning ceramic ink/glaze materials and lithium-battery materials (cobalt/graphite), following a diversification from ceramics into batteries.
Moat: none. Diversified materials producer without a dominant position in either ceramics or battery materials.
Headquarters: Guangdong, China · Employees: 2,945
Size Guangdong Dowstone Technology (300409.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.59B, the 1549th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.56 on 6 Nov 2026.
Performance Over six months the shares fell 49.6%, against -24.4% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 34.0% over the last twelve months (peer median +10.9%); the operating margin is 5.7% (peer median 6.9%).
Valuation It trades at 14.0× forward earnings against a peer median of 19.0× (9th cheapest of 18).
Capital Return on invested capital runs 5.6 points below its cost of capital (11.6% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.1B | CN¥8.15B | CN¥7.54B | CN¥7.28B | CN¥6.85B |
| Revenue growth | — | +8% | +3% | +6% | — |
| Gross profit | CN¥2.41B | CN¥1.73B | CN¥1.08B | CN¥1.08B | CN¥1.05B |
| EBITDA | n/a | CN¥1.12B | CN¥652M | CN¥513M | CN¥388M |
| Net income | CN¥392M | CN¥507M | CN¥157M | -CN¥27.9M | CN¥86.2M |
| Free cash flow | -CN¥1.03B | CN¥732M | -CN¥33.1M | -CN¥394M | -CN¥2.18B |
| Capital expenditure | CN¥562M | CN¥346M | CN¥721M | CN¥732M | CN¥2.10B |
| Total debt | CN¥3.97B | CN¥4.59B | CN¥5.66B | CN¥6.50B | CN¥3.94B |
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 |
|---|---|---|---|---|---|---|
| Guangdong Dowstone Technology 300409.SZ | $1.59B | -50% | +34% | 6% | 14.0× | n/a |
| GEM 002340.SZ | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% |
| Zhejiang Huayou Cobalt 603799.SS | $9.30B | -50% | +38% | 12% | 9.3× | 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 | 300409.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.9% | -14.8% | 5th lowest of 21 |
| 6-month return | -49.6% | -24.4% | 5th lowest of 20 |
| Distance from 52-week high | -63.7% | -41.8% | lowest of 21 |
| Revenue growth (TTM) | +34.0% | +10.9% | 4th highest of 21 |
| Operating margin | 5.7% | 6.9% | 9th lowest of 21 |
| Forward P/E | 14.0× | 19.0× | 9th cheapest of 18 |
| ROIC minus cost of capital | -5.6 pp | -1.5 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Dowstone Technology 300409.SZ | China | $1.59B | -50% | +34% | 6% | 14.0× | n/a | n/a |
| Genesis Energy, L.P GEL | United States | $1.57B | -21% | -17% | 19% | n/a | 2.2% | -2.2% |
| Proto Labs PRLB | United States | $1.57B | -5% | +12% | 8% | 27.4× | 26.8% | +4.2% |
| Tokuyama 4043.T | Japan | $1.63B | -11% | +7% | 9% | 5.8× | 1.1% | +2.9% |
| Chambal Fertilisers & Chemicals CHAMBLFERT.NS | India | $1.63B | -15% | +6% | 12% | 7.2× | n/a | n/a |
| Huabao Technology 300741.SZ | China | $1.63B | +7% | +17% | 1% | n/a | 45.3% | -8.5% |
| ADAMA 000553.SZ | China | $1.55B | -33% | -6% | 3% | 30.7× | -7.2% | +0.3% |
| Ningbo Yunsheng 600366.SS | China | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% | +17.9% |
| Fujian Kuncai Material Technology 603826.SS | China | $1.64B | -51% | +59% | 5% | 61.0× | 24.1% | +11.0% |
| Shenzhen Dynanonic 300769.SZ | China | $1.65B | -50% | +188% | 4% | 12.5× | n/a | n/a |
| Stepan SCL | United States | $1.52B | +26% | +10% | 4% | 19.0× | 14.9% | +4.5% |
| Osaka Soda 4046.T | Japan | $1.52B | -2% | +8% | 19% | 13.5× | 5.1% | +0.5% |
| Befar 6745.HK | Hong Kong | $1.52B | n/a | +25% | 5% | 9.7× | 3.6% | +17.3% |
| Denka 4061.T | Japan | $1.51B | -33% | -3% | 9% | 12.7× | n/a | n/a |
| Shida Shinghwa Advanced Material 603026.SS | China | $1.68B | -58% | +58% | 8% | 7.5× | n/a | n/a |
| KumhoPetrochem 011780.KS | South Korea | $1.50B | -37% | 0% | 7% | 4.3× | -16.5% | +7.5% |
| Anhui Wanwei Updated High-Tech Material Industry 600063.SS | China | $1.49B | -32% | +3% | 4% | 20.0× | n/a | n/a |
| Shaily Engineering Plastics SHAILY.NS | India | $1.48B | +14% | +18% | 24% | 56.7× | 35.8% | +22.8% |
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 8% | 42.8× | n/a | n/a |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 7% | 78.2× | n/a | n/a |
| LOTTE CHEMICAL 011170.KS | South Korea | $1.45B | -59% | +5% | -2% | n/a | n/a | n/a |