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Chinese lithium iron phosphate (LFP) cathode-material maker, using a proprietary liquid-phase synthesis process for battery cathode materials.
Chinese lithium iron phosphate (LFP) cathode-material maker, using a proprietary liquid-phase synthesis process for battery cathode materials.
Sells cathode powder by the tonne to battery makers, so a few large buyers take most volume and its fortunes follow their output. Prices move with lithium costs in a market where many suppliers compete on cost.
In one line: A Chinese LFP cathode specialist.
Moat: narrow (process know-how, IP / patents). Proprietary liquid-phase LFP synthesis process, though the LFP market has become intensely price-competitive.
Headquarters: Shenzhen, China · Employees: 3,812
Size Shenzhen Dynanonic (300769.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.65B, the 1496th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥35.77 on 6 Nov 2026.
Performance Over six months the shares fell 50.3%, against -24.4% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 187.9% over the last twelve months (peer median +14.2%); the operating margin is 3.7% (peer median 7.1%).
Valuation It trades at 12.5× forward earnings against a peer median of 14.3× (6th cheapest of 19).
Capital Return on invested capital runs 2.7 points below its cost of capital (8.7% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥20.5B | CN¥8.72B | CN¥7.61B | CN¥17.0B | CN¥22.5B |
| Revenue growth | — | +14% | -55% | -25% | — |
| Gross profit | CN¥2.41B | -CN¥15.5M | -CN¥499M | -CN¥68.2M | CN¥4.40B |
| EBITDA | n/a | CN¥157M | -CN¥661M | -CN¥1.38B | CN¥3.37B |
| Net income | CN¥339M | -CN¥821M | -CN¥1.34B | -CN¥1.64B | CN¥2.38B |
| Free cash flow | -CN¥2.58B | -CN¥1.32B | -CN¥291M | CN¥3.97B | -CN¥8.96B |
| Capital expenditure | CN¥723M | CN¥555M | CN¥477M | CN¥1.63B | CN¥2.56B |
| Total debt | CN¥13.5B | CN¥8.23B | CN¥8.15B | CN¥8.58B | CN¥7.73B |
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 Dynanonic 300769.SZ | $1.65B | -50% | +188% | 4% | 12.5× | n/a |
| Contemporary Amperex Technology 300750.SZ | $179B | -42% | +51% | 14% | 13.0× | 1.6% |
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 | 300769.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.7% | -15.4% | 11th highest of 21 |
| 6-month return | -50.3% | -24.4% | 4th lowest of 20 |
| Distance from 52-week high | -59.5% | -42.5% | 4th lowest of 21 |
| Revenue growth (TTM) | +187.9% | +14.2% | highest of 21 |
| Operating margin | 3.7% | 7.1% | 4th lowest of 21 |
| Forward P/E | 12.5× | 14.3× | 6th cheapest of 19 |
| ROIC minus cost of capital | -2.7 pp | -1.1 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Dynanonic 300769.SZ | China | $1.65B | -50% | +188% | 4% | 12.5× | n/a | n/a |
| Fujian Kuncai Material Technology 603826.SS | China | $1.64B | -51% | +59% | 5% | 61.0× | 24.1% | +11.0% |
| Ningbo Yunsheng 600366.SS | China | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% | +17.9% |
| Shida Shinghwa Advanced Material 603026.SS | China | $1.68B | -58% | +58% | 8% | 7.5× | n/a | n/a |
| Huabao Technology 300741.SZ | China | $1.63B | +7% | +17% | 1% | n/a | 45.3% | -8.5% |
| Chambal Fertilisers & Chemicals CHAMBLFERT.NS | India | $1.63B | -15% | +6% | 12% | 7.2× | n/a | n/a |
| Tokuyama 4043.T | Japan | $1.63B | -11% | +7% | 9% | 5.8× | 1.1% | +2.9% |
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 8% | 42.8× | n/a | n/a |
| 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% |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 7% | 78.2× | n/a | n/a |
| ADAMA 000553.SZ | China | $1.55B | -33% | -6% | 3% | 30.7× | -7.2% | +0.3% |
| Fuso Chemical 4368.T | Japan | $1.79B | -19% | +17% | 26% | 13.1× | 8.4% | +12.8% |
| 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% |
| Jiangsu Lopal Tech 603906.SS | China | $1.82B | -54% | +96% | 7% | 14.7× | n/a | n/a |
| Denka 4061.T | Japan | $1.51B | -33% | -3% | 9% | 12.7× | 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 |