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Makes glass substrates (float, conductive and photovoltaic glass) for displays and solar panels, part of the China Building Materials group.
Makes glass substrates (float, conductive and photovoltaic glass) for displays and solar panels, part of the China Building Materials group.
In one line: A Chinese glass-substrate maker in Corning/AGC's display and solar glass niche, but state-.
Moat: none (scale). Glass substrate manufacturing is capital-intensive but commoditized; state-group backing provides scale, not pricing power.
Headquarters: Xuchang, Henan, China · Employees: 2,044
Size Henan Ancai Hi-Tech (600207.SS) is a China Information Technology company (Semiconductors) with a market value of $797M, the 2770th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.88 on 6 Nov 2026.
Performance Over six months the shares fell 12.7%, against -22.1% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue fell 40.5% over the last twelve months (peer median +29.6%); the operating margin is -38.8% (peer median 0.0%).
Valuation It trades at 4.0× enterprise value to sales against a peer median of 5.3× (8th cheapest of 21).
Capital Return on invested capital runs 18.2 points below its cost of capital (6.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.97B | CN¥2.92B | CN¥4.34B | CN¥5.16B | CN¥4.11B |
| Revenue growth | — | -33% | -16% | +26% | — |
| Gross profit | -CN¥181M | -CN¥164M | CN¥86.6M | CN¥492M | CN¥451M |
| EBITDA | n/a | -CN¥156M | CN¥9.50M | CN¥401M | CN¥311M |
| Net income | -CN¥752M | -CN¥727M | -CN¥355M | -CN¥19.3M | CN¥77.5M |
| Free cash flow | -CN¥23.3M | -CN¥378M | -CN¥765M | -CN¥901M | -CN¥1.13B |
| Capital expenditure | CN¥32.4M | CN¥125M | CN¥547M | CN¥471M | CN¥1.04B |
| Total debt | CN¥3.00B | CN¥3.49B | CN¥2.76B | CN¥2.72B | CN¥3.14B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Henan Ancai Hi-Tech 600207.SS | $797M | -13% | -41% | -39% | 4.0× | n/a |
| Corning GLW | $91.4B | -43% | +19% | 17% | 5.6× | 24.7% |
| Agc 5201.T | $6.33B | -15% | +6% | 6% | 0.8× | 4.8% |
| Xinyi Glass 0868.HK | $4.79B | -19% | -12% | 13% | 1.7× | 6.8% |
| Flat Glass 601865.SS | $3.03B | -30% | -23% | -2% | 2.4× | 8.2% |
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 | 600207.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.1% | -13.2% | 3rd highest of 21 |
| 6-month return | -12.7% | -22.1% | 6th highest of 19 |
| Distance from 52-week high | -40.9% | -47.5% | 8th highest of 21 |
| Revenue growth (TTM) | -40.5% | +29.6% | lowest of 21 |
| Operating margin | -38.8% | 0.0% | 2nd lowest of 21 |
| EV / Sales | 4.0× | 5.3× | 8th cheapest of 21 |
| ROIC minus cost of capital | -18.2 pp | -4.6 pp | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Henan Ancai Hi-Tech 600207.SS | China | $797M | -13% | -41% | -39% | 4.0× | n/a | n/a |
| Wuxi ETEK Microelectronics 688601.SS | China | $799M | -25% | +15% | -5% | 5.7× | n/a | n/a |
| Crealights Technology 1191.HK | Hong Kong | $790M | n/a | +42% | -7% | 4.2× | n/a | n/a |
| Everlight Electronics 2393.TW | Taiwan | $807M | -17% | -3% | 10% | 0.8× | -11.7% | -1.9% |
| Hangzhou Star Shuaier Electric Appliance 002860.SZ | China | $810M | +16% | -14% | 7% | 2.5× | 19.8% | +18.4% |
| Infotmic 000670.SZ | China | $782M | -18% | +38% | 2% | 1.1× | n/a | n/a |
| PixArt Imaging 3227.TWO | Taiwan | $781M | -20% | +5% | 18% | 2.7× | 0.0% | +2.3% |
| Shenzhen Topray Solar 002218.SZ | China | $779M | -32% | -8% | -17% | 6.7× | 35.9% | -5.6% |
| SENASIC Electronics Technology 6675.HK | Hong Kong | $779M | n/a | +45% | -11% | 8.4× | n/a | n/a |
| General Interface Solution (GIS) 6456.TW | Taiwan | $824M | 0% | -19% | -3% | 0.3× | n/a | n/a |
| Aeva Technologies AEVA | United States | $767M | -34% | +56% | -611% | 33.4× | n/a | n/a |
| Tech Semiconductors 300046.SZ | China | $766M | -33% | +27% | 8% | 9.2× | 45.7% | -1.6% |
| CEVA CEVA | United States | $763M | -27% | +9% | -10% | 4.8× | n/a | n/a |
| Etron Technology 5351.TWO | Taiwan | $835M | +13% | +246% | 21% | 2.6× | 3.3% | +2.6% |
| Smarter Microelectronics (Guangzhou) 688512.SS | China | $835M | -11% | +43% | -30% | 5.0× | n/a | n/a |
| Myson Century 5314.TWO | Taiwan | $759M | -39% | +235% | 19% | 5.9× | 9.2% | +172.5% |
| Canadian Solar CSIQ | United States | $755M | -45% | -16% | -2% | 1.7× | n/a | n/a |
| Zhejiang MTCN Technology 003026.SZ | China | $742M | -24% | +29% | 17% | 9.5× | 30.7% | +9.5% |
| Taiwan Speciality Chemicals 4772.TWO | Taiwan | $862M | -38% | +164% | 40% | 7.8× | 11.0% | +36.7% |
| Episil-Precision 3016.TW | Taiwan | $865M | -10% | +30% | 14% | 5.8× | 40.5% | -0.7% |
| Changzhou Shichuang Energy 688429.SS | China | $733M | -13% | +30% | -38% | 5.7× | n/a | n/a |