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Employees: 683
Size Zhejiang Runyang New Material Technology (300920.SZ) is a China Materials company (Industrial Specialties) with a market value of $548M, the 3639th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥28.13 on 6 Nov 2026.
Performance Over six months the shares fell 5.7%, against -19.4% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 0.7% over the last twelve months (peer median +7.5%); the operating margin is 5.3% (peer median 3.4%).
Valuation It trades at 62.0× forward earnings against a peer median of 24.3× (2nd most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 52% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +52 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.8 points below its cost of capital (7.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥409M | CN¥422M | CN¥407M | CN¥359M | CN¥389M |
| Revenue growth | — | +4% | +13% | -8% | — |
| Gross profit | CN¥90.3M | CN¥83.4M | CN¥73.4M | CN¥76.3M | CN¥73.0M |
| EBITDA | CN¥67.4M | CN¥67.0M | CN¥57.5M | CN¥62.8M | CN¥42.3M |
| Net income | CN¥15.0M | CN¥27.0M | CN¥25.4M | CN¥42.1M | CN¥33.5M |
| Free cash flow | CN¥18.7M | -CN¥69.2M | -CN¥69.8M | -CN¥42.4M | -CN¥41.0M |
| Capital expenditure | CN¥79.4M | CN¥111M | CN¥108M | CN¥67.3M | CN¥122M |
| Total debt | CN¥293M | CN¥307M | CN¥45.3M | CN¥27.7M | CN¥123M |
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| Measure | 300920.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.5% | -13.8% | 8th highest of 21 |
| 6-month return | -5.7% | -19.4% | 4th highest of 21 |
| Distance from 52-week high | -36.1% | -45.4% | 7th highest of 21 |
| Revenue growth (TTM) | -0.7% | +7.5% | 7th lowest of 21 |
| Operating margin | 5.3% | 3.4% | 7th highest of 21 |
| Forward P/E | 62.0× | 24.3× | 2nd most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 51.7% | 21.2% | 2nd most demanding of 12 |
| Growth delivered (Del g) | -0.5% | +9.6% | lowest of 12 |
| Hurdle (Req g minus delivered) | +52.2 pp | +11.6 pp | most demanding of 12 |
| ROIC minus cost of capital | -5.8 pp | -6.4 pp | 11th highest of 21 |
| EV / EBITDA | 54.1× | 15.4× | most expensive of 8 |
| Net debt / EBITDA | -0.5× | 1.6× | 2nd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Runyang New Material Technology 300920.SZ | China | $548M | -6% | -1% | 5% | 62.0× | 51.7% | -0.5% |
| Dongguan Golden Sun Abrasives 300606.SZ | China | $545M | -29% | -12% | 5% | n/a | 35.2% | +5.8% |
| Rayitek Hi-Tech Film 688323.SS | China | $554M | -23% | +8% | -11% | 59.4× | n/a | n/a |
| Suzhou Xingye Materials Technology 603928.SS | China | $540M | -14% | +15% | 7% | n/a | 17.2% | +1.8% |
| Changzhou Almaden Stock 002623.SZ | China | $558M | -11% | -22% | -11% | 56.7× | n/a | n/a |
| Lucky Film 600135.SS | China | $568M | -40% | +14% | -4% | n/a | n/a | n/a |
| HankukCarbon 017960.KS | South Korea | $526M | -71% | +11% | 18% | 5.8× | -20.0% | +17.2% |
| Shenzhen Xinhao Photoelectricity Technology 301051.SZ | China | $577M | -19% | -23% | -26% | n/a | n/a | n/a |
| Shanghai Yongguan Adhesive Products 603681.SS | China | $520M | -20% | +7% | 1% | 19.2× | 28.1% | +22.6% |
| Changchun Gas 600333.SS | China | $520M | -1% | +15% | 4% | n/a | 21.2% | +9.6% |
| Tianyang New Materials (Shanghai) Technology 603330.SS | China | $579M | +21% | -35% | -29% | n/a | 10.6% | +4.2% |
| Dongguan Changlian New Materials Technology 301618.SZ | China | $519M | -21% | +23% | 4% | n/a | 48.7% | +3.2% |
| Shenzhen King Explorer Science & Technology 002917.SZ | China | $509M | -25% | +1% | 11% | 19.1× | -1.1% | +22.8% |
| NanJing Sanchao Advanced Materials 300554.SZ | China | $508M | -27% | +6% | -51% | n/a | n/a | n/a |
| ZACROS 7917.T | Japan | $596M | -11% | +6% | 7% | 12.5× | n/a | n/a |
| Kangda New Materials (Group) 002669.SZ | China | $498M | -18% | +23% | 3% | 25.8× | n/a | n/a |
| Beijing Comens New Materials 300200.SZ | China | $491M | -24% | +20% | 4% | n/a | n/a | n/a |
| Sheela Foam SFL.NS | India | $614M | -7% | +20% | 6% | 24.3× | 23.3% | +9.4% |
| Wuxi Holyview Microelectronics 603375.SS | China | $618M | -10% | -17% | -9% | n/a | 53.9% | +17.3% |
| Shanxi Huhua 003002.SZ | China | $482M | -52% | -4% | 6% | n/a | 12.0% | +18.8% |
| Tianjin Jiuri New Materials 688199.SS | China | $628M | -3% | +15% | 3% | 64.5× | n/a | n/a |