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Chinese maker of photosensitive materials, mainly dry-film photoresist and inks, used in printed-circuit-board manufacturing.
Chinese maker of photosensitive materials, mainly dry-film photoresist and inks, used in printed-circuit-board manufacturing.
Sells to circuit-board makers who qualify its dry film and ink on their production lines and then reorder, so winning approval at large board makers drives revenue. Dry film long came mainly from foreign suppliers, which is the opening for local makers.
Moat: narrow (customer qualification, process know-how). Photoresist must be line-qualified with PCB makers, so switching suppliers is costly.
Headquarters: Shenzhen, China · Employees: 794
Size Shenzhen Rongda Photosensitive & Technology (300576.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.40B, the 1736th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.13 on 6 Nov 2026.
Performance Over six months the shares fell 31.3%, against -23.1% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +6.8%); the operating margin is 10.1% (peer median 7.0%).
Valuation It trades at 7.7× enterprise value to sales against a peer median of 2.0× (5th most expensive of 21).
Capital Return on invested capital runs 1.9 points below its cost of capital (9.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.19B | CN¥1.06B | CN¥944M | CN¥795M | CN¥732M |
| Revenue growth | — | +13% | +19% | +9% | — |
| Gross profit | CN¥427M | CN¥370M | CN¥337M | CN¥273M | CN¥198M |
| EBITDA | n/a | CN¥181M | CN¥163M | CN¥139M | CN¥71.7M |
| Net income | CN¥98.0M | CN¥118M | CN¥122M | CN¥85.5M | CN¥52.7M |
| Free cash flow | -CN¥61.3M | -CN¥13.2M | -CN¥166M | -CN¥184M | CN¥60.7M |
| Capital expenditure | CN¥137M | CN¥121M | CN¥288M | CN¥208M | CN¥33.0M |
| Total debt | CN¥183M | CN¥69.8M | CN¥191M | CN¥193M | CN¥201M |
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| Measure | 300576.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.3% | -12.2% | 8th highest of 21 |
| 6-month return | -31.3% | -23.1% | 9th lowest of 21 |
| Distance from 52-week high | -58.6% | -42.2% | 5th lowest of 21 |
| Revenue growth (TTM) | +13.8% | +6.8% | 9th highest of 21 |
| Operating margin | 10.1% | 7.0% | 9th highest of 21 |
| EV / Sales | 7.7× | 2.0× | 5th most expensive of 21 |
| ROIC minus cost of capital | -1.9 pp | -2.0 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Rongda Photosensitive & Technology 300576.SZ | China | $1.40B | -31% | +14% | 10% | 7.7× | n/a | n/a |
| Shandong Dawn Polymer 002838.SZ | China | $1.40B | -35% | +31% | 6% | 1.5× | n/a | n/a |
| Guangdong Guanghua Sci-Tech 002741.SZ | China | $1.40B | -9% | +61% | 4% | 2.3× | n/a | n/a |
| GCH Technology 688625.SS | China | $1.38B | -32% | +8% | 18% | 9.2× | 27.6% | +16.3% |
| Anhui Guangxin Agrochemical 603599.SS | China | $1.43B | -29% | -13% | 18% | 2.6× | -3.8% | +0.6% |
| Guangdong Orient Zirconic Industry Science & Technology 002167.SZ | China | $1.44B | +5% | +17% | 14% | 6.6× | 32.4% | +10.1% |
| Jilin OLED Material Tech 688378.SS | China | $1.45B | -17% | +74% | 18% | 11.7× | 46.2% | +15.2% |
| Elementis ELM.L | United Kingdom | $1.45B | +34% | -12% | 20% | 2.7× | 16.9% | -4.8% |
| LOTTE CHEMICAL 011170.KS | South Korea | $1.45B | -59% | +5% | -2% | 0.8× | n/a | n/a |
| BASF India BASF.NS | India | $1.35B | -23% | +13% | 4% | 0.7× | n/a | n/a |
| Wankai New Materials 301216.SZ | China | $1.35B | -48% | +5% | 4% | 0.9× | n/a | n/a |
| Jiangyin Jianghua Micro-electronics Materials 603078.SS | China | $1.33B | -7% | +18% | 7% | 6.3× | 32.0% | +17.0% |
| Shaily Engineering Plastics SHAILY.NS | India | $1.48B | +14% | +18% | 24% | 13.0× | 35.8% | +22.8% |
| COFCO Biotechnology 000930.SZ | China | $1.32B | -21% | -9% | -2% | 0.7× | n/a | n/a |
| Global New Material International 6616.HK | Hong Kong | $1.32B | -3% | +165% | 0% | 3.3× | n/a | n/a |
| Anhui Wanwei Updated High-Tech Material Industry 600063.SS | China | $1.49B | -32% | +3% | 4% | 1.7× | n/a | n/a |
| Dawei Technology (Guangdong) 600589.SS | China | $1.32B | -38% | +29% | -10% | 22.0× | n/a | n/a |
| REX American Resources REX | United States | $1.31B | -21% | +6% | 15% | 1.5× | -3.8% | +11.7% |
| Industrie De Nora DNR.MI | Italy | $1.31B | -23% | -2% | 14% | 1.4× | n/a | n/a |
| KumhoPetrochem 011780.KS | South Korea | $1.50B | -37% | 0% | 7% | 0.3× | -16.5% | +7.5% |
| Denka 4061.T | Japan | $1.51B | -33% | -3% | 9% | 1.2× | n/a | n/a |