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Chinese advanced-materials company based in Shandong; specific products and end markets not confirmed.
Chinese advanced-materials company based in Shandong; specific products and end markets not confirmed.
Moat: none
Headquarters: Shandong, China · Employees: 748
Size Shandong Boyuan Advanced Materials (301617.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $1.15B, the 2049th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥44.26 on 6 Nov 2026.
Performance Over six months the shares fell 4.2%, against -22.3% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 10.9% over the last twelve months (peer median +3.3%); the operating margin is 11.9% (peer median 10.6%).
Valuation It trades at 4.6× enterprise value to sales against a peer median of 3.4× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 45% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is +22 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 5.4 points below its cost of capital (18.5% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.55B | CN¥1.46B | CN¥1.32B | CN¥1.02B | CN¥796M |
| Revenue growth | — | +11% | +30% | +28% | — |
| Gross profit | CN¥321M | CN¥284M | CN¥316M | CN¥275M | CN¥272M |
| EBITDA | n/a | CN¥229M | CN¥273M | CN¥233M | CN¥233M |
| Net income | CN¥172M | CN¥172M | CN¥213M | CN¥182M | CN¥176M |
| Free cash flow | CN¥21.3M | -CN¥81.5M | CN¥106M | CN¥80.9M | CN¥54.1M |
| Capital expenditure | CN¥101M | CN¥85.1M | CN¥55.4M | CN¥67.0M | CN¥135M |
| Total debt | CN¥53.9M | CN¥103M | CN¥124M | CN¥144M | CN¥116M |
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| Measure | 301617.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.9% | -8.9% | 5th lowest of 21 |
| 6-month return | -4.2% | -22.3% | 5th highest of 21 |
| Distance from 52-week high | -45.0% | -47.1% | 10th highest of 21 |
| Revenue growth (TTM) | +10.9% | +3.3% | 8th highest of 21 |
| Operating margin | 11.9% | 10.6% | 11th highest of 21 |
| EV / Sales | 4.6× | 3.4× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 44.7% | 13.3% | most demanding of 13 |
| Growth delivered (Del g) | +22.5% | +8.8% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | +22.2 pp | +0.2 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | -5.4 pp | -0.9 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Boyuan Advanced Materials 301617.SZ | China | $1.15B | -4% | +11% | 12% | 4.6× | 44.7% | +22.5% |
| Shin-Etsu Polymer 7970.T | Japan | $1.15B | +5% | +10% | 13% | 1.0× | -2.9% | +8.4% |
| Ecovyst ECVT | United States | $1.15B | -26% | +20% | 12% | 1.9× | 8.0% | +7.8% |
| Vinati Organics VINATIORGA.NS | India | $1.14B | -26% | +11% | 20% | 4.2× | 24.0% | +18.2% |
| Hebei Jinniu Chemical Industry 600722.SS | China | $1.16B | -16% | -1% | 18% | 13.8× | 28.1% | +3.0% |
| Jinhong Gas 688106.SS | China | $1.17B | -42% | +15% | 2% | 3.3× | n/a | n/a |
| Hunan Kaimeite Gases 002549.SZ | China | $1.18B | -43% | -7% | -5% | 12.9× | n/a | n/a |
| Anhui Hwasu 600935.SS | China | $1.13B | -22% | -10% | -8% | 2.0× | 28.1% | -1.0% |
| Chemtrade Logistics Income Fund CHE-UN.TO | Canada | $1.19B | -17% | +12% | 12% | 1.4× | -0.8% | +7.7% |
| Toagosei 4045.T | Japan | $1.19B | +3% | +2% | 9% | 1.2× | n/a | n/a |
| Jiangsu Sopo Chemical 600746.SS | China | $1.12B | -23% | +6% | 5% | 1.2× | n/a | n/a |
| ISE Chemicals 4107.T | Japan | $1.20B | -30% | 0% | 22% | 4.6× | 18.6% | +18.4% |
| Tongyu Advanced Materials (Guangdong) 301630.SZ | China | $1.21B | -19% | +26% | 18% | 5.0× | 35.9% | +26.0% |
| Yunnan Energy Investment 002053.SZ | China | $1.21B | -24% | -24% | 20% | 6.8× | n/a | n/a |
| Hubei Heyuan Gas 002971.SZ | China | $1.09B | +9% | +12% | 7% | 6.4× | n/a | n/a |
| Shanghai Skychem Technology 688603.SS | China | $1.22B | -29% | +38% | 19% | 12.4× | n/a | n/a |
| Zhejiang Jiahua Energy Chemical Industry 600273.SS | China | $1.23B | -22% | +4% | 5% | 1.0× | -6.3% | +12.9% |
| Nan Pao Resins Chemical 4766.TW | Taiwan | $1.24B | -6% | +3% | 16% | 1.7× | -8.7% | +8.3% |
| Shanghai Chlor-Alkali Chemical 600618.SS | China | $1.24B | -29% | +2% | 6% | 1.2× | -0.4% | +9.9% |
| Anhui Shenjian New Materials 002361.SZ | China | $1.25B | -54% | -4% | -3% | 4.1× | n/a | n/a |
| Guizhou Redstar Developing 600367.SS | China | $1.25B | +14% | +1% | 7% | 3.5× | 26.8% | +9.1% |