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One of China's largest makers of modified plastics and polymer compounds for autos, appliances and electronics.
One of China's largest makers of modified plastics and polymer compounds for autos, appliances and electronics.
Buys base plastic resin and sells it back as compounds tailored to the customer's part, such as flame-retardant or heat-resistant grades, so earnings depend on the margin over resin cost, which moves with oil-linked prices. Customers qualify a compound into each product model, which keeps volumes sticky for the model's life.
In one line: China's A. Schulman/PolyOne (modified plastics).
Moat: narrow (process know-how, scale). Broad formulation know-how and scale give cost/performance edge in commodity-adjacent compounding.
Headquarters: Guangzhou, China · Founded: 1993 · Employees: 14,111
Size Kingfa Sci. & Tech (600143.SS) is a China Materials company (Chemicals: Major Diversified) with a market value of $4.96B, the 509th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.40 on 6 Nov 2026.
Performance Over six months the shares fell 27.7%, against +7.1% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 0.9% over the last twelve months (peer median +6.5%); the operating margin is 3.2% (peer median 8.4%).
Valuation It trades at 24.6× forward earnings against a peer median of 15.0× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 points above its cost of capital (5.6% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥69.1B | CN¥65.3B | CN¥60.5B | CN¥47.9B | CN¥40.3B |
| Revenue growth | — | +8% | +26% | +19% | — |
| Gross profit | CN¥11.0B | CN¥8.13B | CN¥6.35B | CN¥5.27B | CN¥5.72B |
| EBITDA | n/a | CN¥5.57B | CN¥4.02B | CN¥3.41B | CN¥4.40B |
| Net income | CN¥936M | CN¥1.15B | CN¥825M | CN¥317M | CN¥1.99B |
| Free cash flow | CN¥4.75B | CN¥3.63B | CN¥481M | -CN¥1.89B | -CN¥3.63B |
| Capital expenditure | CN¥2.36B | CN¥2.33B | CN¥2.38B | CN¥4.32B | CN¥7.08B |
| Total debt | CN¥31.5B | CN¥26.9B | CN¥29.5B | CN¥33.3B | CN¥25.2B |
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 |
|---|---|---|---|---|---|---|
| Kingfa Sci. & Tech 600143.SS | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% |
| Celanese CE | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% |
| Avient AVNT | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% |
| Wanhua Chemical 600309.SS | $34.1B | -19% | +37% | 11% | 11.3× | -2.6% |
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 | 600143.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.3% | -7.7% | 9th highest of 21 |
| 6-month return | -27.7% | +7.1% | 4th lowest of 21 |
| Distance from 52-week high | -43.7% | -24.0% | 7th lowest of 21 |
| Revenue growth (TTM) | -0.9% | +6.5% | 5th lowest of 21 |
| Operating margin | 3.2% | 8.4% | 5th lowest of 21 |
| Forward P/E | 24.6× | 15.0× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -1.2% | 9.4% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +13.3% | +6.6% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | -14.6 pp | +1.3 pp | least demanding of 15 |
| ROIC minus cost of capital | +1.1 pp | -1.8 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kingfa Sci. & Tech 600143.SS | China | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% | +13.3% |
| Arkema AKE.PA | France | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% | +2.8% |
| Tokyo Ohka Kogyo 4186.T | Japan | $5.03B | -30% | +22% | 21% | 17.8× | 19.9% | +15.1% |
| Perimeter Solutions PRM | United States | $4.83B | -7% | +24% | -51% | 18.3× | 36.6% | +14.0% |
| Wacker Chemie WCH.DE | Germany | $4.42B | -24% | -5% | -1% | 33.0× | n/a | n/a |
| Hubei Xingfa Chemicals 600141.SS | China | $4.19B | -27% | +4% | 8% | 15.3× | n/a | n/a |
| Avient AVNT | United States | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% | +0.1% |
| Mitsui Chemicals 4183.T | Japan | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% | +6.6% |
| Johnson Matthey JMAT.L | United Kingdom | $4.01B | +14% | +8% | 3% | 13.3× | 9.6% | -4.0% |
| Ecopro 086520.KS | South Korea | $6.55B | -57% | +11% | 9% | 31.5× | n/a | n/a |
| Kuraray 3405.T | Japan | $3.52B | +14% | +3% | 7% | 15.0× | -0.2% | +8.3% |
| Element Solutions ESI | United States | $7.61B | -29% | +40% | 14% | 15.0× | 16.6% | +6.6% |
| Grandit 688549.SS | China | $2.89B | +36% | +40% | -1% | n/a | n/a | n/a |
| Mitsubishi Chemical 4188.T | Japan | $8.65B | +10% | -8% | 8% | 8.9× | -0.5% | +2.6% |
| CES Energy Solutions CEU.TO | Canada | $2.82B | +4% | +11% | 10% | 14.1× | 9.2% | +22.9% |
| Solstice Advanced Materials SOLS | United States | $9.22B | -26% | +3% | 17% | 17.8× | 0.3% | +2.7% |
| Peric Special Gases 688146.SS | China | $9.58B | +102% | +75% | 19% | 67.1× | 50.8% | +13.1% |
| Sasol Limited Sponsored ADR SSL | United States | $10.3B | +14% | +18% | 22% | 4.8× | n/a | n/a |
| Nippon Shokubai 4114.T | Japan | $2.27B | +11% | +4% | 6% | 16.2× | 4.1% | +7.9% |
| Hubei Sinophorus Electronic Materials 688545.SS | China | $2.24B | +11% | +75% | 11% | 68.3× | n/a | n/a |
| Evonik Industries EVK.DE | Germany | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% | +2.9% |