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Chemical-materials subsidiary of state-owned conglomerate China Resources; specific product line not fully established from available knowledge.
Chemical-materials subsidiary of state-owned conglomerate China Resources; specific product line not fully established from available knowledge.
Moat: none
Headquarters: China · Employees: 1,738
Size China Resources Chemical Innovative Materials (301090.SZ) is a China Materials company (Chemicals: Major Diversified) with a market value of $1.35B, the 1787th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.14 on 6 Nov 2026.
Performance Over six months the shares fell 33.1%, against -20.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +7.3%); the operating margin is 1.0% (peer median 9.9%).
Valuation It trades at 19.2× forward earnings against a peer median of 20.9× (7th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +20 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 4.8 points below its cost of capital (8.6% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.2B | CN¥13.1B | CN¥18.0B | CN¥17.2B | CN¥17.3B |
| Revenue growth | — | -28% | +5% | -1% | — |
| Gross profit | CN¥708M | CN¥140M | -CN¥193M | CN¥747M | CN¥1.20B |
| EBITDA | n/a | -CN¥78.3M | -CN¥336M | CN¥595M | CN¥1.01B |
| Net income | CN¥270M | -CN¥86.1M | -CN¥570M | CN¥381M | CN¥824M |
| Free cash flow | CN¥74.2M | CN¥354M | CN¥311M | -CN¥318M | CN¥667M |
| Capital expenditure | CN¥84.4M | CN¥42.5M | CN¥45.3M | CN¥57.1M | CN¥95.6M |
| Total debt | CN¥1.71B | CN¥478M | CN¥589M | CN¥1.59B | CN¥1.70B |
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| Measure | 301090.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.3% | -7.2% | 8th lowest of 21 |
| 6-month return | -33.1% | -20.5% | 5th lowest of 19 |
| Distance from 52-week high | -35.2% | -40.9% | 10th highest of 21 |
| Revenue growth (TTM) | +3.7% | +7.3% | 8th lowest of 21 |
| Operating margin | 1.0% | 9.9% | 7th lowest of 21 |
| Forward P/E | 19.2× | 20.9× | 7th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 21.4% | 4.7% | 4th most demanding of 14 |
| Growth delivered (Del g) | +1.1% | +7.4% | 3rd lowest of 14 |
| Hurdle (Req g minus delivered) | +20.3 pp | -1.5 pp | 2nd most demanding of 14 |
| ROIC minus cost of capital | -4.8 pp | -0.6 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Resources Chemical Innovative Materials 301090.SZ | China | $1.35B | -33% | +4% | 1% | 19.2× | 21.4% | +1.1% |
| Isuspecialtychemical 457190.KS | South Korea | $1.36B | -49% | +14% | 3% | n/a | n/a | n/a |
| Shanghai Emperor of Cleaning Hi-Tech 603200.SS | China | $1.37B | -16% | +4% | -8% | n/a | n/a | n/a |
| Jiangsu Shuangxing Color Plastic New Materials 002585.SZ | China | $1.38B | +5% | -4% | -4% | 62.8× | 22.5% | +0.2% |
| Rianlon 300596.SZ | China | $1.39B | -7% | +11% | 11% | 14.7× | n/a | n/a |
| Privi Speciality Chemicals PRIVISCL.NS | India | $1.40B | -4% | +18% | 20% | 30.4× | 30.1% | +15.0% |
| Hanchem 014680.KS | South Korea | $1.30B | -40% | +15% | 17% | 11.1× | 4.7% | +7.4% |
| Jilin Chemical Fibre Stock 000420.SZ | China | $1.42B | -25% | +11% | 5% | 154.0× | n/a | n/a |
| Lanxess LXS.DE | Germany | $1.27B | -30% | -10% | -1% | n/a | 17.9% | -1.5% |
| Jinan Acetate Chemical 4763.TW | Taiwan | $1.26B | -3% | -36% | 46% | 7.3× | -17.4% | +41.2% |
| Xinxiang Richful Lube Additive 300910.SZ | China | $1.26B | -38% | +12% | 16% | 11.6× | 0.6% | +32.5% |
| CNSIG Inner Mongolia Chemical Industry 600328.SS | China | $1.21B | -32% | -20% | -7% | n/a | n/a | n/a |
| Hubei Jianghan New Materials 603281.SS | China | $1.20B | -30% | +8% | 17% | 20.5× | 4.8% | +6.3% |
| Nippon Soda 4041.T | Japan | $1.19B | -5% | -1% | 10% | 11.1× | 3.5% | +1.8% |
| Alzchem ACT0.DE | Germany | $1.56B | n/a | +5% | 16% | 20.9× | -1.1% | +8.2% |
| Fine Organic Industries FINEORG.NS | India | $1.64B | +9% | +13% | 20% | 33.4× | 26.7% | +15.7% |
| Huntsman HUN | United States | $1.66B | -37% | +6% | 0% | 353.8× | n/a | n/a |
| Valiant 002643.SZ | China | $1.66B | -28% | +3% | 10% | 25.6× | 17.4% | +4.9% |
| Metis TechBio 7666.HK | Hong Kong | $1.66B | n/a | +6,987% | -367% | n/a | n/a | n/a |
| Nippon Kayaku 4272.T | Japan | $1.66B | +3% | +14% | 10% | 10.1× | -4.8% | +6.9% |
| Borregaard BRG.OL | Norway | $1.68B | +7% | +3% | 17% | 24.4× | -1.0% | +7.7% |