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CNOOC subsidiary producing urea fertilizer and methanol from natural gas/coal for China's agricultural and chemical markets.
CNOOC subsidiary producing urea fertilizer and methanol from natural gas/coal for China's agricultural and chemical markets.
Sells urea and methanol at market prices, so profit is the gap between those prices and its natural-gas feedstock cost. Urea sales peak around planting seasons, and Chinese rules on fertilizer exports and pricing can distort the market. CNOOC, the state oil group, is its controlling shareholder.
Moat: none (scale). State-backed scale in gas-based urea/methanol, but a price-taker in commodity chemical markets.
Headquarters: Beijing, China · Founded: 2004 · Employees: 3,710
Size China BlueChemical (3983.HK) is a Hong Kong Materials company (Chemicals: Agricultural) with a market value of $1.08B, the 577th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.83 on 6 Nov 2026.
Performance Over six months the shares fell 32.3%, against -20.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +10.5%); the operating margin is 4.7% (peer median 6.5%).
Valuation It trades at 6.0× forward earnings against a peer median of 10.3× (2nd cheapest of 14).
Capital Return on invested capital runs 1.9 points below its cost of capital (6.8% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$13.2B | HK$13.1B | HK$13.0B | HK$14.4B | HK$16.6B |
| Revenue growth | — | +1% | -10% | -14% | — |
| Gross profit | HK$1.70B | HK$1.63B | HK$1.82B | HK$2.20B | HK$2.94B |
| EBITDA | HK$1.33B | HK$1.55B | HK$1.77B | HK$2.17B | HK$2.82B |
| Net income | HK$944M | HK$1.06B | HK$1.16B | HK$2.63B | HK$1.91B |
| Free cash flow | HK$901M | HK$1.12B | HK$1.33B | HK$1.38B | HK$1.27B |
| Capital expenditure | HK$593M | HK$448M | HK$655M | HK$821M | HK$1.56B |
| Total debt | n/a | HK$2.35B | HK$2.26B | HK$2.23B | HK$2.33B |
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 |
|---|---|---|---|---|---|---|
| China BlueChemical 3983.HK | $1.08B | -32% | +4% | 5% | 6.0× | n/a |
| China XLX Fertiliser 1866.HK | $1.51B | -27% | +24% | 8% | 6.7× | n/a |
| Sinofert 0297.HK | $1.08B | -25% | +16% | 6% | 5.5× | -18.5% |
| Yara International YAR.OL | $11.0B | -26% | +2% | 13% | 8.2× | -6.9% |
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 | 3983.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.8% | -4.6% | 8th highest of 21 |
| 6-month return | -32.3% | -20.3% | 7th lowest of 21 |
| Distance from 52-week high | -50.3% | -35.1% | 6th lowest of 21 |
| Revenue growth (TTM) | +3.5% | +10.5% | 8th lowest of 21 |
| Operating margin | 4.7% | 6.5% | 8th lowest of 21 |
| Forward P/E | 6.0× | 10.3× | 2nd cheapest of 14 |
| ROIC minus cost of capital | -1.9 pp | +1.0 pp | 7th lowest of 21 |
| Net debt / EBITDA | -10.1× | 0.0× | least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China BlueChemical 3983.HK | Hong Kong | $1.08B | -32% | +4% | 5% | 6.0× | n/a | n/a |
| Migao 9879.HK | Hong Kong | $1.08B | +16% | +27% | 8% | 10.3× | -2.8% | +23.4% |
| Sinofert 0297.HK | Hong Kong | $1.08B | -25% | +16% | 6% | 5.5× | -18.5% | +1.0% |
| Nantong Jiangshan Agrochemical & Chemicals 600389.SS | China | $1.04B | -44% | +13% | 6% | 10.4× | n/a | n/a |
| CVR Partners, LP UAN | United States | $1.16B | -13% | +7% | 21% | 7.4× | -10.5% | +11.6% |
| CAC Nantong Chemical 301665.SZ | China | $1.17B | -26% | +27% | 13% | 15.8× | -1.7% | +11.9% |
| Taiwan Fertilizer 1722.TW | Taiwan | $1.18B | -15% | +4% | -16% | 13.7× | 0.0% | +3.5% |
| Nanjing Redsun 000525.SZ | China | $981M | -10% | +12% | -2% | n/a | 12.2% | -5.1% |
| Oci OCI.AS | Netherlands | $967M | +8% | -81% | -4% | n/a | n/a | n/a |
| E.I.D.-Parry (India) EIDPARRY.NS | India | $1.21B | -24% | +16% | 7% | 11.4× | n/a | n/a |
| Oil-Dri Corporation of America ODC | United States | $948M | -9% | +2% | 14% | n/a | 3.8% | +10.1% |
| Madhya Bharat Agro Products MBAPL.NS | India | $944M | +68% | +48% | 10% | n/a | n/a | n/a |
| Shenzhen Noposion Crop Science 002215.SZ | China | $1.25B | -23% | +12% | 13% | 9.3× | -3.9% | +6.9% |
| Stanley Agricultural 002588.SZ | China | $1.27B | -33% | +3% | 8% | 8.8× | n/a | n/a |
| Jiang Su Suyan Jingshen 603299.SS | China | $1.28B | -18% | -5% | 5% | 25.9× | n/a | n/a |
| Nufarm NUF.AX | Australia | $897M | +40% | -2% | 3% | 62.4× | 9.9% | +5.2% |
| FMC FMC | United States | $876M | -58% | -22% | -21% | 6.2× | -2.8% | -5.7% |
| Kunming Chuan Jin Nuo Chemical 300505.SZ | China | $838M | -34% | +14% | 10% | 9.2× | n/a | n/a |
| Huapont Life Sciences 002004.SZ | China | $1.39B | -5% | -6% | 11% | n/a | -8.7% | +1.1% |
| Kingenta Ecological Engineering 002470.SZ | China | $827M | -39% | +9% | -5% | n/a | n/a | n/a |
| Holitech Technology 002217.SZ | China | $1.41B | -58% | +17% | 2% | n/a | 45.7% | -37.1% |