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Chinese chemical producer based in Longkou, Shandong; specific products and end markets not confirmed.
Chinese chemical producer based in Longkou, Shandong; specific products and end markets not confirmed.
Moat: none
Headquarters: Longkou, Shandong, China · Employees: 402
Size Longkou Union Chemical (301209.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $904M, the 2509th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥38.46 on 6 Nov 2026.
Performance Over six months the shares fell 39.2%, against -25.4% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 2.9% over the last twelve months (peer median +5.8%); the operating margin is 9.4% (peer median 5.5%).
Valuation It trades at 336.5× forward earnings against a peer median of 20.0× (most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +35 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 1.3 points above its cost of capital (6.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥514M | CN¥510M | CN¥533M | CN¥427M | CN¥541M |
| Revenue growth | — | -4% | +25% | -21% | — |
| Gross profit | CN¥108M | CN¥98.2M | CN¥97.8M | CN¥62.5M | CN¥89.6M |
| EBITDA | n/a | CN¥74.2M | CN¥66.8M | CN¥40.3M | CN¥63.5M |
| Net income | CN¥5.91M | CN¥52.6M | CN¥56.4M | CN¥33.8M | CN¥64.2M |
| Free cash flow | CN¥56.9M | CN¥97.2M | CN¥34.4M | CN¥52.3M | CN¥55.1M |
| Capital expenditure | CN¥11.6M | CN¥8.57M | CN¥8.84M | CN¥17.4M | CN¥15.9M |
| Total debt | CN¥83.8M | CN¥153M | CN¥61.8M | CN¥50.3M | CN¥52.0M |
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| Measure | 301209.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.8% | -11.0% | 2nd lowest of 21 |
| 6-month return | -39.2% | -25.4% | lowest of 20 |
| Distance from 52-week high | -54.6% | -41.3% | 4th lowest of 21 |
| Revenue growth (TTM) | -2.9% | +5.8% | 8th lowest of 21 |
| Operating margin | 9.4% | 5.5% | 7th highest of 21 |
| Forward P/E | 336.5× | 20.0× | most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 36.9% | 17.6% | 4th most demanding of 14 |
| Growth delivered (Del g) | +1.6% | +4.5% | 2nd lowest of 13 |
| Hurdle (Req g minus delivered) | +35.3 pp | +10.2 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | +1.3 pp | -3.5 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Longkou Union Chemical 301209.SZ | China | $904M | -39% | -3% | 9% | 336.5× | 36.9% | +1.6% |
| Sichuan Xinjinlu 000510.SZ | China | $906M | -32% | -4% | -15% | n/a | n/a | n/a |
| Shenzhen Wote Advanced Materials 002886.SZ | China | $906M | -15% | +10% | 4% | 68.2× | 31.3% | +12.2% |
| Henan Jindan Lactic Acid Technology 300829.SZ | China | $900M | +52% | +5% | 3% | 26.1× | n/a | n/a |
| Boai NKY Medical 300109.SZ | China | $896M | -32% | -17% | 15% | 32.5× | 19.9% | +3.9% |
| Sudarshan Chemical Industries SUDARSCHEM.NS | India | $893M | +10% | +90% | 4% | 28.9× | 27.0% | +39.5% |
| Guangzhou Human New Material Science & Technology 301683.SZ | China | $918M | -25% | +20% | 38% | n/a | 11.3% | n/a |
| TETRA Technologies TTI | United States | $891M | -39% | +6% | 7% | 19.9× | n/a | n/a |
| Changzhou Tronly New Electronic Materials 300429.SZ | China | $923M | -37% | +14% | -14% | n/a | 56.6% | +5.0% |
| Quechen Silicon Chemical 605183.SS | China | $926M | -12% | +7% | 19% | n/a | 2.0% | +16.1% |
| Green Plains GPRE | United States | $927M | -27% | -22% | 7% | 7.4× | -1.0% | +1.8% |
| Jiangsu Chengxing Phosph-Chemicals 600078.SS | China | $928M | -29% | +27% | 13% | n/a | 2.6% | +2.9% |
| Rastar Environmental Protection Materials 300834.SZ | China | $933M | -9% | -23% | 1% | n/a | 43.9% | 0.0% |
| Zhejiang Oceanking Development 603213.SS | China | $938M | +1% | -17% | 0% | n/a | 38.3% | +17.9% |
| Zhejiang Wansheng 603010.SS | China | $872M | -25% | +19% | -26% | n/a | n/a | n/a |
| Hanking Gold International 3788.HK | Hong Kong | $862M | -26% | -19% | 8% | n/a | n/a | n/a |
| Kronos Worldwide KRO | United States | $859M | +46% | +3% | -1% | 11.9× | 17.6% | +2.6% |
| Daqo New Energy Corp Sponsored ADR DQ | United States | $856M | -32% | -21% | -70% | n/a | n/a | n/a |
| Shandong Head 002810.SZ | China | $855M | -38% | +16% | 21% | 14.2× | -1.6% | +7.9% |
| Compass Minerals International CMP | United States | $962M | -18% | +5% | 8% | 20.0× | 8.1% | +2.8% |
| Guangdong Sinoplast Adv Matl 301686.SZ | China | $962M | n/a | +7% | 19% | n/a | n/a | n/a |