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Employees: 1,377
Size Hebei Cangzhou Dahua (600230.SS) is a China Materials company (Chemicals: Specialty) with a market value of $738M, the 2951st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.09 on 6 Nov 2026.
Performance Over six months the shares fell 36.3%, against -23.7% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +9.8%); the operating margin is 3.6% (peer median 9.8%).
Valuation It trades at 16.6× forward earnings against a peer median of 26.6× (5th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points above its cost of capital (8.3% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.60B | CN¥4.56B | CN¥5.07B | CN¥4.87B | CN¥4.91B |
| Revenue growth | — | -10% | +4% | -1% | — |
| Gross profit | CN¥846M | CN¥297M | CN¥277M | CN¥599M | CN¥747M |
| EBITDA | n/a | CN¥527M | CN¥553M | CN¥734M | CN¥947M |
| Net income | CN¥150M | CN¥30.9M | CN¥27.7M | CN¥190M | CN¥420M |
| Free cash flow | CN¥447M | -CN¥63.7M | CN¥348M | CN¥791M | CN¥126M |
| Capital expenditure | CN¥17.4M | CN¥203M | CN¥61.9M | CN¥63.7M | CN¥402M |
| Total debt | CN¥637M | CN¥790M | CN¥931M | CN¥1.26B | CN¥1.76B |
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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 | 600230.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.0% | -13.2% | 10th highest of 21 |
| 6-month return | -36.3% | -23.7% | 5th lowest of 20 |
| Distance from 52-week high | -55.6% | -42.1% | 4th lowest of 21 |
| Revenue growth (TTM) | -1.4% | +9.8% | 3rd lowest of 21 |
| Operating margin | 3.6% | 9.8% | 7th lowest of 20 |
| Forward P/E | 16.6× | 26.6× | 5th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -0.4% | 29.1% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +22.6% | +9.3% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | -23.0 pp | +8.4 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +0.4 pp | -2.9 pp | 8th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hebei Cangzhou Dahua 600230.SS | China | $738M | -36% | -1% | 4% | 16.6× | -0.4% | +22.6% |
| Sino-High (China) 301076.SZ | China | $736M | -24% | +4% | 14% | 57.1× | 43.8% | +9.1% |
| Westlake Chemical Partners LP WLKP | United States | $747M | -9% | +9% | 29% | 12.0× | n/a | n/a |
| Shandong Longhua New Material 301149.SZ | China | $751M | -39% | +33% | 2% | 8.7× | n/a | n/a |
| Cybrid Technologies 603212.SS | China | $725M | -19% | -9% | -7% | n/a | n/a | n/a |
| Clean Science & Technology CLEAN.NS | India | $753M | -24% | +5% | 26% | 26.6× | 31.8% | +13.2% |
| Kornit Digital KRNT | United States | $724M | +4% | +4% | -17% | 86.4× | 36.2% | +0.9% |
| Shanghai Allied Industrial 301419.SZ | China | $723M | +10% | +19% | 14% | n/a | n/a | n/a |
| Nanjing COSMOS Chemical 300856.SZ | China | $757M | -24% | +12% | 12% | 35.0× | 3.3% | +8.0% |
| Malion New Materials 300586.SZ | China | $720M | -42% | +4% | -4% | n/a | n/a | n/a |
| Yuanli Chemical 603217.SS | China | $720M | -25% | +8% | 10% | 18.0× | n/a | n/a |
| Hangzhou Grascent 301688.SZ | China | $720M | n/a | +12% | n/a | n/a | 47.1% | n/a |
| Poly Plastic Masterbatch (SuZhou) 300905.SZ | China | $758M | -59% | +10% | 11% | n/a | 29.1% | +17.2% |
| DL 000210.KS | South Korea | $718M | -37% | +5% | 10% | n/a | n/a | n/a |
| Zhejiang Jiaao Enprotech Stock 603822.SS | China | $718M | -19% | +101% | 19% | 9.7× | -7.5% | +31.6% |
| Orinko Advanced Plastics 688219.SS | China | $714M | -23% | +13% | 2% | n/a | 14.4% | +9.5% |
| Liaoning Xinde New Material Technology 301349.SZ | China | $711M | -20% | +63% | 7% | 28.2× | n/a | n/a |
| Riken Technos 4220.T | Japan | $771M | +46% | +6% | 11% | 10.4× | -4.8% | +8.3% |
| Gujarat Narmada Valley Fertilizers & Chemicals GNFC.NS | India | $703M | -10% | +22% | 10% | n/a | 4.4% | +7.2% |
| Ningbo Runhe High-Tech Materials 300727.SZ | China | $695M | -32% | +18% | 5% | 42.9× | 33.7% | +14.6% |
| Sichuan Lutianhua Company Limited By Shares 000912.SZ | China | $785M | -31% | -5% | -4% | n/a | n/a | n/a |