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Leading Chinese maker of lithium-ion battery separator film, a critical membrane inside EV and consumer batteries.
Leading Chinese maker of lithium-ion battery separator film, a critical membrane inside EV and consumer batteries.
Sells separators, thin films that keep a battery's electrodes apart while letting ions pass, by the square metre to cell makers. Supply depends on qualification with each cell maker, so its sales follow those of a few large customers.
In one line: A Chinese Celgard/Asahi Kasei (separators).
Moat: narrow (process know-how, scale, customer qualification). Separator quality and coating processes are hard to replicate; qualified suppliers are locked into cell-maker specs.
Headquarters: Shenzhen, Guangdong, China · Founded: 2003 · Employees: 5,113
Size Shenzhen Senior Technology Material (300568.SZ) is a China Industrials company (Electrical Products) with a market value of $2.80B, the 914th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.65 on 6 Nov 2026.
Performance Over six months the shares fell 23.0%, against -34.1% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 45.3% over the last twelve months (peer median +15.4%); the operating margin is 10.2% (peer median 8.5%).
Valuation It trades at 27.4× forward earnings against a peer median of 18.3× (7th most expensive of 18).
Capital Return on invested capital runs 3.6 points below its cost of capital (8.0% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.66B | CN¥4.12B | CN¥3.53B | CN¥3.00B | CN¥2.87B |
| Revenue growth | — | +17% | +17% | +5% | — |
| Gross profit | CN¥2.24B | CN¥847M | CN¥959M | CN¥1.29B | CN¥1.28B |
| EBITDA | n/a | CN¥1.05B | CN¥967M | CN¥1.14B | CN¥1.18B |
| Net income | CN¥276M | CN¥36.4M | CN¥364M | CN¥576M | CN¥719M |
| Free cash flow | -CN¥989M | -CN¥2.90B | -CN¥4.16B | -CN¥3.03B | -CN¥1.05B |
| Capital expenditure | CN¥2.02B | CN¥3.78B | CN¥4.55B | CN¥4.21B | CN¥2.35B |
| Total debt | CN¥15.4B | CN¥12.8B | CN¥10.5B | CN¥6.25B | CN¥3.80B |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Senior Technology Material 300568.SZ | $2.80B | -23% | +45% | 10% | 27.4× | n/a |
| Yunnan Energy New Material (Group) 002812.SZ | $7.55B | -38% | +50% | 17% | 19.8× | 7.8% |
| Asahi Kasei 3407.T | $12.6B | -3% | +4% | 8% | 11.3× | 1.9% |
| SK ie technology 361610.KS | $758M | -52% | -43% | -157% | n/a | n/a |
| Toray Industries 3402.T | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% |
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 | 300568.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.0% | -8.2% | 6th lowest of 21 |
| 6-month return | -23.0% | -34.1% | 9th highest of 21 |
| Distance from 52-week high | -41.3% | -49.2% | 6th highest of 21 |
| Revenue growth (TTM) | +45.3% | +15.4% | 4th highest of 21 |
| Operating margin | 10.2% | 8.5% | 10th highest of 21 |
| Forward P/E | 27.4× | 18.3× | 7th most expensive of 18 |
| ROIC minus cost of capital | -3.6 pp | -1.4 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Senior Technology Material 300568.SZ | China | $2.80B | -23% | +45% | 10% | 27.4× | n/a | n/a |
| Shijiazhuang Shangtai Technology 001301.SZ | China | $2.80B | -16% | +34% | 13% | 16.6× | n/a | n/a |
| Ming Yang Smart Energy 601615.SS | China | $2.80B | -47% | +8% | -4% | 19.4× | n/a | n/a |
| Tianneng Battery 688819.SS | China | $2.79B | -37% | +2% | 0% | 10.9× | -7.9% | +5.4% |
| Fortior Technology (Shenzhen) 688279.SS | China | $2.76B | 0% | +46% | 25% | 62.7× | n/a | n/a |
| Mabuchi Motor 6592.T | Japan | $2.84B | +18% | +12% | 12% | 17.9× | 5.8% | +11.5% |
| Time Interconnect Technology 1729.HK | Hong Kong | $2.84B | -57% | +84% | 7% | 10.8× | n/a | n/a |
| Qingdao Hanhe Cable 002498.SZ | China | $2.74B | -37% | +21% | 3% | 18.3× | n/a | n/a |
| Zhongshan Broad-Ocean Motor 002249.SZ | China | $2.73B | -21% | +1% | 6% | n/a | 7.7% | +9.5% |
| Zhuhai CosMX Battery 688772.SS | China | $2.88B | +2% | +18% | -2% | 144.1× | n/a | n/a |
| Daming Electronics 603376.SS | China | $2.71B | -22% | +110% | 9% | n/a | n/a | n/a |
| Schneider Electric Infrastructure SCHNEIDER.NS | India | $2.69B | -21% | +10% | 10% | 76.0× | 56.2% | +17.4% |
| Weihai Guangwei Composites 300699.SZ | China | $2.68B | -35% | +12% | 16% | 45.8× | 13.8% | +6.2% |
| GS Yuasa 6674.T | Japan | $2.67B | -33% | +6% | 10% | 9.9× | n/a | n/a |
| Huaming Power Equipment 002270.SZ | China | $2.66B | -19% | +7% | 32% | 22.3× | 5.9% | +12.3% |
| Baoding Tianwei Baobian Electric 600550.SS | China | $2.65B | -36% | +13% | 4% | n/a | 45.5% | +7.1% |
| TDG 600330.SS | China | $2.96B | -43% | +21% | -19% | 320.4× | n/a | n/a |
| Luster LightTech 688400.SS | China | $2.63B | -37% | +10% | 0% | 28.1× | 56.8% | +10.7% |
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | China | $2.98B | -37% | +20% | 15% | 16.4× | 1.8% | +15.6% |
| Sanil Electric 062040.KS | South Korea | $2.62B | -56% | +29% | 36% | 17.1× | 15.1% | +50.8% |
| Zhefu 002266.SZ | China | $3.09B | -26% | +27% | 8% | 9.3× | n/a | n/a |