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Dongying maker of battery electrolyte solvents (carbonates) and consumer chemicals such as propylene glycol.
Dongying maker of battery electrolyte solvents (carbonates) and consumer chemicals such as propylene glycol.
Sells carbonate solvents, the main liquid in lithium-battery electrolyte, to electrolyte makers such as Tinci and to BYD, so earnings follow battery output and solvent prices. A second line makes propylene glycol and other alcohols for food, pharma and cosmetics. In 2026 it signed a long-term supply deal with BYD's battery unit.
Moat: narrow (cost advantage, customer qualification). Large carbonate output and qualified supply to major electrolyte makers; commodity pricing limits the edge.
Headquarters: Dongying, China · Founded: 2002 · Employees: 1,136
Size Shandong Hi-tech Spring Material Technology (301292.SZ) is a China Industrials company (Electrical Products) with a market value of $1.54B, the 1603rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥46.06 on 6 Nov 2026.
Performance Over six months the shares fell 45.7%, against -38.9% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 18 in its peer set.
Growth Revenue grew 45.6% over the last twelve months (peer median +24.2%); the operating margin is 11.2% (peer median 8.6%).
Valuation It trades at 31.8× forward earnings against a peer median of 21.3× (5th most expensive of 14).
Capital Return on invested capital runs 7.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.87B | CN¥5.04B | CN¥3.61B | CN¥3.36B | CN¥3.02B |
| Revenue growth | — | +40% | +8% | +11% | — |
| Gross profit | CN¥1.49B | CN¥124M | -CN¥36.8M | CN¥260M | CN¥583M |
| EBITDA | n/a | CN¥192M | CN¥361,770 | CN¥260M | CN¥426M |
| Net income | CN¥579M | -CN¥180M | -CN¥267M | CN¥31.6M | CN¥284M |
| Free cash flow | -CN¥314M | -CN¥522M | -CN¥159M | -CN¥1.12B | -CN¥890M |
| Capital expenditure | CN¥120M | CN¥125M | CN¥319M | CN¥1.05B | CN¥1.38B |
| Total debt | CN¥3.79B | CN¥4.00B | CN¥4.16B | CN¥2.55B | CN¥1.74B |
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 |
|---|---|---|---|---|---|---|
| Shandong Hi-tech Spring Material Technology 301292.SZ | $1.54B | -46% | +46% | 11% | 31.8× | n/a |
| Shida Shinghwa Advanced Material 603026.SS | $1.68B | -58% | +58% | 8% | 7.5× | n/a |
| Guangzhou Tinci Materials Technology 002709.SZ | $8.73B | -53% | +102% | 19% | 10.3× | 9.3% |
| Mitsubishi Chemical 4188.T | $8.65B | +10% | -8% | 8% | 8.9× | -0.5% |
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 | 301292.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.4% | -15.8% | 9th lowest of 21 |
| 6-month return | -45.7% | -38.9% | 3rd lowest of 18 |
| Distance from 52-week high | -56.9% | -61.6% | 8th highest of 21 |
| Revenue growth (TTM) | +45.6% | +24.2% | 5th highest of 21 |
| Operating margin | 11.2% | 8.6% | 7th highest of 21 |
| Forward P/E | 31.8× | 21.3× | 5th most expensive of 14 |
| ROIC minus cost of capital | +7.5 pp | -4.2 pp | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Hi-tech Spring Material Technology 301292.SZ | China | $1.54B | -46% | +46% | 11% | 31.8× | n/a | n/a |
| Beijing Victory Electric 001393.SZ | China | $1.53B | n/a | +31% | 11% | n/a | n/a | n/a |
| Cswind 112610.KS | South Korea | $1.52B | -31% | -8% | 7% | 11.6× | -0.5% | +23.8% |
| Shenzhen SDG Information 000070.SZ | China | $1.55B | -33% | +27% | -1% | n/a | 28.4% | -1.3% |
| Iljin Electric 103590.KS | South Korea | $1.52B | -65% | +24% | 9% | 11.2× | n/a | n/a |
| Shenzhen Hopewind Electric 603063.SS | China | $1.52B | -50% | -5% | 9% | 24.6× | 14.6% | +12.3% |
| Long Young Electronic (Kunshan) 301389.SZ | China | $1.55B | -41% | +103% | 17% | 55.4× | 46.5% | +3.3% |
| Sinfonia Technology 6507.T | Japan | $1.56B | -39% | +9% | 15% | 14.2× | 15.4% | +8.0% |
| Hangzhou Gold Electronic Equipment 301669.SZ | China | $1.56B | n/a | +37% | 9% | n/a | n/a | n/a |
| ERock EROC | United States | $1.56B | n/a | +43% | -19% | 35.8× | 12.5% | +42.5% |
| Up-Shine Lighting 301362.SZ | China | $1.50B | -39% | +15% | 7% | 29.5× | n/a | n/a |
| Shanghai Electric Wind Power 688660.SS | China | $1.50B | -39% | +69% | -6% | n/a | n/a | n/a |
| Hainan Drinda New Energy Technology 002865.SZ | China | $1.49B | -45% | -4% | -13% | n/a | 19.3% | +54.9% |
| Zhejiang Zhaolong Interconnect Technology Co. Limited 300913.SZ | China | $1.49B | -45% | +29% | 12% | 44.1× | n/a | n/a |
| Inox Wind INOXWIND.NS | India | $1.49B | -39% | +17% | 15% | 15.4× | n/a | n/a |
| Yangtze Optical Electronic 688143.SS | China | $1.59B | +56% | +25% | 2% | 296.7× | n/a | n/a |
| Aerospace Intelligent Manufacturing Technology 300446.SZ | China | $1.48B | -38% | -14% | 5% | 21.3× | 2.1% | +133.1% |
| Guodian Nanjing Automation 600268.SS | China | $1.48B | -35% | -5% | 9% | 15.2× | -0.1% | +13.9% |
| Hammond Power Solutions HPS-A.TO | Canada | $1.60B | -41% | +51% | 11% | 13.7× | 9.4% | +22.8% |
| Aerospace Hi-Tech 000901.SZ | China | $1.63B | -43% | -21% | 1% | n/a | n/a | n/a |
| Googol Technology 301510.SZ | China | $1.65B | -30% | +66% | 21% | n/a | 50.5% | +14.1% |