Chinese specialty-materials company based in Ningbo; specific products not confirmed.
Chinese specialty-materials company based in Ningbo; specific products not confirmed.
Moat: none
Headquarters: Ningbo, Zhejiang, China · Employees: 1,029
Size Ningbo Exciton Technology (300566.SZ) is a China Materials company (Containers/Packaging) with a market value of $730M, the 2976th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.58 on 6 Nov 2026.
Performance Over six months the shares fell 2.5%, against -14.9% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +6.4%); the operating margin is 9.3% (peer median 6.3%).
Valuation It trades at 17.9× forward earnings against a peer median of 16.9× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points below its cost of capital (9.6% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.11B | CN¥2.12B | CN¥2.17B | CN¥2.30B | CN¥1.98B |
| Revenue growth | — | -2% | -6% | +16% | — |
| Gross profit | CN¥590M | CN¥491M | CN¥486M | CN¥426M | CN¥268M |
| EBITDA | n/a | CN¥331M | CN¥314M | CN¥207M | CN¥93.7M |
| Net income | CN¥180M | CN¥204M | CN¥190M | CN¥144M | CN¥56.8M |
| Free cash flow | CN¥581M | CN¥274M | CN¥215M | -CN¥60,060 | -CN¥188M |
| Capital expenditure | CN¥104M | CN¥112M | CN¥134M | CN¥173M | CN¥235M |
| Total debt | CN¥800M | CN¥934M | CN¥1.21B | CN¥1.56B | CN¥1.34B |
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| Measure | 300566.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.8% | -6.8% | 3rd lowest of 21 |
| 6-month return | -2.5% | -14.9% | 8th highest of 21 |
| Distance from 52-week high | -57.2% | -33.3% | 2nd lowest of 21 |
| Revenue growth (TTM) | -2.2% | +6.4% | 5th lowest of 21 |
| Operating margin | 9.3% | 6.3% | 8th highest of 21 |
| Forward P/E | 17.9× | 16.9× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 8.4% | 3.9% | 6th most demanding of 12 |
| Growth delivered (Del g) | +8.4% | +8.8% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -0.0 pp | +2.5 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | -1.6 pp | +0.9 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ningbo Exciton Technology 300566.SZ | China | $730M | -2% | -2% | 9% | 17.9× | 8.4% | +8.4% |
| Planetree International Development 0613.HK | Hong Kong | $733M | +151% | -62% | 1,735% | n/a | n/a | n/a |
| EPL EPL.NS | India | $752M | -6% | +17% | 12% | 15.7× | 16.0% | +8.8% |
| Sunrise 002752.SZ | China | $766M | -29% | +8% | 6% | 11.1× | -5.7% | +17.2% |
| Shantou Wanshun New Material 300057.SZ | China | $784M | -45% | +29% | 1% | 66.5× | n/a | n/a |
| Shanghai Baosteel Packaging 601968.SS | China | $785M | -19% | +17% | 4% | 17.3× | n/a | n/a |
| Ton Yi Industrial 9907.TW | Taiwan | $678M | -19% | -11% | 4% | 16.9× | -6.3% | +8.8% |
| Cheng Loong 1904.TW | Taiwan | $788M | +34% | -3% | 6% | 61.8× | 3.9% | +1.4% |
| O-I Glass OI | United States | $796M | -44% | -2% | 9% | 10.1× | n/a | n/a |
| Shanghai Sunglow Packaging Technology 603499.SS | China | $669M | -29% | +9% | 10% | n/a | 24.1% | +16.4% |
| Karat Packaging KRT | United States | $669M | +19% | +12% | 13% | 20.5× | -2.4% | +9.6% |
| Zhejiang Zhongcheng Packing Material 002522.SZ | China | $658M | -24% | +4% | 5% | n/a | 14.5% | +2.1% |
| Okamoto Industries 5122.T | Japan | $648M | +6% | 0% | 6% | n/a | n/a | n/a |
| Pum-tech Korea 251970.KS | South Korea | $642M | +70% | +3% | 15% | 15.0× | -4.2% | +13.6% |
| Quzhou DFP New Material 601515.SS | China | $843M | -36% | +13% | -21% | n/a | n/a | n/a |
| Kohsoku 7504.T | Japan | $629M | +75% | +8% | 4% | 21.6× | n/a | n/a |
| Zignago Vetro ZV.MI | Italy | $628M | -10% | 0% | 8% | 16.8× | 12.7% | +7.7% |
| Oeneo SBT.PA | France | $617M | -1% | -10% | 14% | 25.4× | 1.0% | +0.2% |
| Zhejiang Great Southeast 002263.SZ | China | $871M | -23% | +5% | -1% | n/a | 31.7% | -4.0% |
| Ningbo Homelink Eco-iTech 301193.SZ | China | $602M | -38% | +44% | -4% | n/a | n/a | n/a |
| Time Technoplast TIMETECHNO.NS | India | $891M | -9% | +16% | 11% | 11.0× | n/a | n/a |