Employees: 1,857
Size Zhejiang Tianzhen Technology (301356.SZ) is a China Materials company (Forest Products) with a market value of $713M, the 3022nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.86 on 6 Nov 2026.
Performance Over six months the shares fell 6.6%, against -12.0% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 1.9% over the last twelve months (peer median +2.5%); the operating margin is 4.2% (peer median 4.8%).
Valuation It trades at 26.0× forward earnings against a peer median of 31.5× (5th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is -7%, 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 6.4 points below its cost of capital (12.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.59B | CN¥1.55B | CN¥892M | CN¥308M | CN¥2.96B |
| Revenue growth | — | +73% | +189% | -90% | — |
| Gross profit | CN¥396M | CN¥276M | CN¥80.0M | -CN¥35.0M | CN¥647M |
| EBITDA | n/a | CN¥172M | -CN¥3.55M | -CN¥273M | CN¥427M |
| Net income | CN¥95.6M | CN¥84.2M | -CN¥37.2M | -CN¥267M | CN¥379M |
| Free cash flow | CN¥35.9M | -CN¥1.20M | -CN¥393M | -CN¥228M | CN¥424M |
| Capital expenditure | CN¥72.6M | CN¥231M | CN¥307M | CN¥106M | CN¥191M |
| Total debt | CN¥43.0M | CN¥50,021 | CN¥3.98M | CN¥15.3M | CN¥306M |
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| Measure | 301356.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.4% | -12.4% | highest of 21 |
| 6-month return | -6.6% | -12.0% | 9th highest of 21 |
| Distance from 52-week high | -27.2% | -40.4% | 9th highest of 21 |
| Revenue growth (TTM) | +1.9% | +2.5% | 10th lowest of 21 |
| Operating margin | 4.2% | 4.8% | 11th highest of 21 |
| Forward P/E | 26.0× | 31.5× | 5th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 27.5% | 24.4% | 6th least demanding of 11 |
| Growth delivered (Del g) | -7.1% | +6.3% | lowest of 11 |
| Hurdle (Req g minus delivered) | +34.6 pp | +15.7 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | -6.4 pp | -5.3 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Tianzhen Technology 301356.SZ | China | $713M | -7% | +2% | 4% | 26.0× | 27.5% | -7.1% |
| Bunka Shutter 5930.T | Japan | $779M | -1% | +3% | 6% | n/a | -12.9% | +6.4% |
| Interfor IFP.TO | Canada | $634M | +42% | -7% | 1% | 59.2× | n/a | n/a |
| Mengtian Home 603216.SS | China | $607M | -39% | -5% | 3% | 62.7× | 39.4% | -2.6% |
| Jilin Quanyangquan 600189.SS | China | $897M | +1% | +9% | 11% | 109.0× | 16.6% | -1.7% |
| Stylam Industries STYLAMIND.NS | India | $563M | +19% | +10% | 18% | 28.1× | n/a | n/a |
| Greenlam Industries GREENLAM.NS | India | $550M | -11% | +20% | 7% | 34.9× | 28.3% | +20.7% |
| Dongguan HuaLi Industries 603038.SS | China | $498M | -27% | +15% | 6% | n/a | 20.6% | +7.5% |
| XIAMEN WANLI STONE STOCK 002785.SZ | China | $1.03B | -40% | -33% | -7% | 47.6× | n/a | n/a |
| Der Future Science & Technology 002631.SZ | China | $1.04B | +10% | -26% | -23% | n/a | n/a | n/a |
| Sakata Seed 1377.T | Japan | $1.13B | +2% | +12% | 11% | 16.2× | 0.2% | +8.5% |
| Inwido INWI.ST | Sweden | $1.16B | +39% | +11% | 10% | 16.9× | 2.5% | +6.1% |
| Canfor CFP.TO | Canada | $1.22B | +17% | +2% | -1% | n/a | n/a | n/a |
| Dare Power Dekor Home 000910.SZ | China | $414M | -26% | -4% | -9% | 7.4× | n/a | n/a |
| Vohringer Home Technology 603226.SS | China | $1.30B | -38% | -3% | -40% | n/a | n/a | n/a |
| Responsive Industries RESPONIND.NS | India | $391M | -24% | -13% | 10% | n/a | 42.5% | +13.0% |
| Suncha Technology 001211.SZ | China | $387M | -14% | +18% | 0% | n/a | n/a | n/a |
| Newtechwood 301588.SZ | China | $376M | -39% | +20% | 7% | n/a | n/a | n/a |
| Harbin Sayyas Windows 301227.SZ | China | $368M | -13% | -10% | -21% | n/a | 33.7% | -6.0% |
| Guangxi Fenglin Wood Industry 601996.SS | China | $360M | -21% | -7% | -12% | 17.8× | n/a | n/a |
| Fujian Jinsen Forestry 002679.SZ | China | $343M | -11% | +4% | 10% | n/a | 43.6% | +0.2% |