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Global animal-nutrition company, majority owned by China's Bluestar/ChemChina, and one of the world's largest producers of methionine, an essential feed amino acid.
Global animal-nutrition company, majority owned by China's Bluestar/ChemChina, and one of the world's largest producers of methionine, an essential feed amino acid.
Sells methionine and other feed additives in bulk to feed makers, with prices set by global supply from a handful of producers, so capacity additions and demand from poultry and pig farming drive results. A French animal-nutrition firm bought by China's Bluestar in 2006, it is now controlled by a Chinese state chemical group.
In one line: A French-headquartered Evonik Animal Nutrition, Chinese-owned.
Moat: narrow (scale, process know-how). One of only a handful of global-scale methionine producers, an oligopolistic market with high technical barriers.
Headquarters: Antony, France (majority-owned by China National Bluestar) · Employees: 3,295
Size Bluestar Adisseo (600299.SS) is a China Materials company (Chemicals: Specialty) with a market value of $3.97B, the 646th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.59 on 6 Nov 2026.
Performance Over six months the shares fell 35.4%, against -21.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 14.7% over the last twelve months (peer median +12.2%); the operating margin is 13.3% (peer median 11.9%).
Valuation It trades at 11.8× forward earnings against a peer median of 18.4× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.4 points above its cost of capital (6.0% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.6B | CN¥17.2B | CN¥15.5B | CN¥13.2B | CN¥14.5B |
| Revenue growth | — | +11% | +18% | -9% | — |
| Gross profit | CN¥6.93B | CN¥4.56B | CN¥4.39B | CN¥2.51B | CN¥3.72B |
| EBITDA | n/a | CN¥3.44B | CN¥3.48B | CN¥2.03B | CN¥2.96B |
| Net income | CN¥1.83B | CN¥1.15B | CN¥1.20B | CN¥52.2M | CN¥1.25B |
| Free cash flow | CN¥140M | -CN¥279M | CN¥1.35B | CN¥1.34B | CN¥197M |
| Capital expenditure | CN¥2.78B | CN¥3.70B | CN¥1.62B | CN¥1.45B | CN¥1.54B |
| Total debt | CN¥2.87B | CN¥2.14B | CN¥1.37B | CN¥2.06B | CN¥2.04B |
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 |
|---|---|---|---|---|---|---|
| Bluestar Adisseo 600299.SS | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% |
| Evonik Industries EVK.DE | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% |
| CJ CheilJedang 097950.KS | $2.06B | -26% | -7% | 4% | 10.8× | 3.3% |
| Sumitomo Chemical 4005.T | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% |
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 | 600299.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | -5.6% | 6th highest of 21 |
| 6-month return | -35.4% | -21.5% | 3rd lowest of 20 |
| Distance from 52-week high | -47.9% | -39.2% | 5th lowest of 21 |
| Revenue growth (TTM) | +14.7% | +12.2% | 9th highest of 21 |
| Operating margin | 13.3% | 11.9% | 10th highest of 21 |
| Forward P/E | 11.8× | 18.4× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -8.6% | 5.4% | least demanding of 16 |
| Growth delivered (Del g) | +7.7% | +16.5% | 6th lowest of 16 |
| Hurdle (Req g minus delivered) | -16.2 pp | -5.1 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +9.4 pp | +0.6 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Mitsubishi Gas Chemical 4182.T | Japan | $3.78B | -31% | +3% | 8% | 10.6× | n/a | n/a |
| Novoray 688300.SS | China | $3.76B | -9% | +23% | 26% | 52.7× | 47.6% | +22.6% |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Ningbo Shanshan 600884.SS | China | $3.71B | -34% | +30% | 9% | 14.4× | 4.5% | +21.3% |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Cabot CBT | United States | $3.67B | -17% | +1% | 14% | 10.9× | -3.2% | +1.9% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Red Avenue New Materials 9607.HK | Hong Kong | $4.35B | n/a | +30% | 9% | 26.9× | n/a | n/a |
| NOF 4403.T | Japan | $3.60B | -22% | +13% | 17% | 13.5× | -6.1% | +8.4% |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Guangzhou Guanggang Gases and Energy 688548.SS | China | $3.39B | -14% | +21% | 20% | 62.3× | n/a | n/a |
| Inner Mongolia Berun Chemical 000683.SZ | China | $3.36B | -32% | +11% | 13% | 13.8× | n/a | n/a |