Employees: 1,085
Size Zhongjing Food (300908.SZ) is a China Consumer Staples company (Food: Specialty/Candy) with a market value of $579M, the 3509th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.24 on 6 Nov 2026.
Performance Over six months the shares fell 30.6%, against -8.0% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +5.4%); the operating margin is 18.6% (peer median 6.7%).
Valuation It trades at 19.7× forward earnings against a peer median of 18.0× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.3 points above its cost of capital (8.3% WACC).
Next results Next results expected around 8 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.14B | CN¥1.08B | CN¥1.09B | CN¥990M | CN¥875M |
| Revenue growth | — | -1% | +10% | +13% | — |
| Gross profit | CN¥521M | CN¥445M | CN¥429M | CN¥388M | CN¥300M |
| EBITDA | n/a | CN¥248M | CN¥217M | CN¥208M | CN¥131M |
| Net income | CN¥210M | CN¥192M | CN¥175M | CN¥172M | CN¥126M |
| Free cash flow | CN¥193M | CN¥129M | CN¥29.5M | -CN¥25.4M | CN¥79.7M |
| Capital expenditure | CN¥75.9M | CN¥101M | CN¥201M | CN¥257M | CN¥61.6M |
| Total debt | CN¥355,609 | CN¥2.31M | CN¥12.0M | CN¥12.8M | CN¥13.1M |
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| Measure | 300908.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.2% | -0.7% | lowest of 21 |
| 6-month return | -30.6% | -8.0% | lowest of 21 |
| Distance from 52-week high | -44.0% | -25.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | +6.0% | +5.4% | 10th highest of 21 |
| Operating margin | 18.6% | 6.7% | highest of 21 |
| Forward P/E | 19.7× | 18.0× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 4.8% | 8th most demanding of 16 |
| Growth delivered (Del g) | +8.3% | +6.0% | 5th highest of 16 |
| Hurdle (Req g minus delivered) | -1.4 pp | -5.7 pp | 6th most demanding of 16 |
| ROIC minus cost of capital | +3.3 pp | +1.0 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhongjing Food 300908.SZ | China | $579M | -31% | +6% | 19% | 19.7× | 6.9% | +8.3% |
| Apple Flavor & Fragrance 603020.SS | China | $570M | -7% | +3% | 4% | n/a | 16.4% | -1.5% |
| Haoxiangni Health Food 002582.SZ | China | $558M | -21% | -17% | -11% | n/a | n/a | n/a |
| Ligao Foods 300973.SZ | China | $604M | -19% | +5% | 7% | 17.1× | n/a | n/a |
| Ganyuan Foods 002991.SZ | China | $552M | -22% | 0% | 10% | 17.1× | 4.8% | +12.4% |
| Vadilal Industries VADILALIND.NS | India | $541M | +53% | +31% | 16% | n/a | 17.3% | +26.5% |
| Jiahe Foods Industry 605300.SS | China | $623M | -17% | -7% | 1% | 25.0× | 18.9% | +3.7% |
| YouYou Foods 603697.SS | China | $627M | -7% | +30% | 11% | 18.7× | 2.5% | +7.8% |
| Gift 9279.T | Japan | $635M | +31% | +24% | 11% | 31.2× | n/a | n/a |
| Kameda Seika 2220.T | Japan | $525M | -8% | +17% | 6% | 18.0× | 0.3% | +6.0% |
| John B. Sanfilippo & Son JBSS | United States | $643M | -29% | +3% | 7% | 11.4× | -8.2% | +6.5% |
| Riken Vitamin 4526.T | Japan | $516M | +29% | +3% | 7% | 11.8× | -3.9% | +4.4% |
| Baolingbao Biology 002286.SZ | China | $500M | -15% | +9% | 6% | 18.1× | 10.0% | +6.0% |
| Mrs. Bector's Food Specialities BECTORFOOD.NS | India | $681M | +3% | +12% | 8% | 36.0× | 38.4% | +18.5% |
| Guilin Layn Natural Ingredients 002166.SZ | China | $691M | -29% | +7% | 10% | 24.8× | 8.4% | +21.1% |
| Shanghai Laiyifen 603777.SS | China | $693M | -15% | +5% | -6% | n/a | 27.2% | -0.9% |
| Hindustan Foods HNDFDS.NS | India | $704M | 0% | +18% | 6% | 32.4× | n/a | n/a |
| Nitto Fuji Flour Milling 2003.T | Japan | $472M | +14% | 0% | 6% | n/a | 3.0% | +5.2% |
| Ganso 603886.SS | China | $464M | +1% | +5% | 6% | 11.4× | -11.0% | -1.9% |
| Gujarat Ambuja Exports GAEL.NS | India | $729M | -8% | +16% | 10% | 11.3× | n/a | n/a |
| Daesang 001680.KS | South Korea | $459M | -16% | +2% | 4% | 8.1× | -5.6% | +7.2% |