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Chinese magnetic-materials maker producing rare-earth permanent magnets and ferrite magnets for motors, electronics and renewable-energy equipment.
Chinese magnetic-materials maker producing rare-earth permanent magnets and ferrite magnets for motors, electronics and renewable-energy equipment.
In one line: A Chinese magnet maker akin to a smaller Hitachi Metals/Shin-Etsu magnet business.
Moat: narrow (process know-how, customer qualification). Magnet quality/qualification for motors and wind turbines creates switching costs, though the market has several domestic competitors.
Headquarters: Ningbo, China · Employees: 3,581
Size Ningbo Yunsheng (600366.SS) is a China Materials company (Chemicals: Specialty) with a market value of $1.64B, the 1516th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.03 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against -21.4% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 33.2% over the last twelve months (peer median +14.2%); the operating margin is 6.1% (peer median 7.6%).
Valuation It trades at 19.3× forward earnings against a peer median of 13.7× (8th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.8 points below its cost of capital (10.9% WACC).
Next results Next results expected around 8 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.04B | CN¥5.45B | CN¥5.03B | CN¥5.36B | CN¥6.41B |
| Revenue growth | — | +8% | -6% | -16% | — |
| Gross profit | CN¥1.40B | CN¥903M | CN¥591M | CN¥222M | CN¥1.20B |
| EBITDA | n/a | CN¥427M | CN¥161M | -CN¥157M | CN¥510M |
| Net income | CN¥440M | CN¥331M | CN¥95.1M | -CN¥227M | CN¥356M |
| Free cash flow | CN¥563M | CN¥318M | CN¥821M | CN¥999M | -CN¥1.28B |
| Capital expenditure | CN¥136M | CN¥83.2M | CN¥51.8M | CN¥117M | CN¥151M |
| Total debt | CN¥4.03B | CN¥3.28B | CN¥2.17B | CN¥1.71B | CN¥2.74B |
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 |
|---|---|---|---|---|---|---|
| Ningbo Yunsheng 600366.SS | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% |
| JL Mag Rare-Earth 300748.SZ | $4.54B | -27% | +39% | 11% | 33.1× | 22.1% |
| Beijing Zhong Ke San Huan High-Tech 000970.SZ | $1.87B | -16% | +11% | 3% | 65.8× | n/a |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
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 | 600366.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.2% | -15.4% | 4th highest of 21 |
| 6-month return | -24.4% | -21.4% | 10th lowest of 20 |
| Distance from 52-week high | -42.4% | -41.9% | 11th highest of 21 |
| Revenue growth (TTM) | +33.2% | +14.2% | 5th highest of 21 |
| Operating margin | 6.1% | 7.6% | 9th lowest of 21 |
| Forward P/E | 19.3× | 13.7× | 8th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 19.1% | 6.7% | 5th most demanding of 13 |
| Growth delivered (Del g) | +17.9% | +4.3% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | +1.2 pp | +4.5 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | -5.8 pp | -1.1 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ningbo Yunsheng 600366.SS | China | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% | +17.9% |
| Fujian Kuncai Material Technology 603826.SS | China | $1.64B | -51% | +59% | 5% | 61.0× | 24.1% | +11.0% |
| Huabao Technology 300741.SZ | China | $1.63B | +7% | +17% | 1% | n/a | 45.3% | -8.5% |
| Chambal Fertilisers & Chemicals CHAMBLFERT.NS | India | $1.63B | -15% | +6% | 12% | 7.2× | n/a | n/a |
| Tokuyama 4043.T | Japan | $1.63B | -11% | +7% | 9% | 5.8× | 1.1% | +2.9% |
| Shenzhen Dynanonic 300769.SZ | China | $1.65B | -50% | +188% | 4% | 12.5× | n/a | n/a |
| Shida Shinghwa Advanced Material 603026.SS | China | $1.68B | -58% | +58% | 8% | 7.5× | n/a | n/a |
| Guangdong Dowstone Technology 300409.SZ | China | $1.59B | -50% | +34% | 6% | 14.0× | n/a | n/a |
| Genesis Energy, L.P GEL | United States | $1.57B | -21% | -17% | 19% | n/a | 2.2% | -2.2% |
| Proto Labs PRLB | United States | $1.57B | -5% | +12% | 8% | 27.4× | 26.8% | +4.2% |
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 8% | 42.8× | n/a | n/a |
| ADAMA 000553.SZ | China | $1.55B | -33% | -6% | 3% | 30.7× | -7.2% | +0.3% |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 7% | 78.2× | n/a | n/a |
| Stepan SCL | United States | $1.52B | +26% | +10% | 4% | 19.0× | 14.9% | +4.5% |
| Osaka Soda 4046.T | Japan | $1.52B | -2% | +8% | 19% | 13.5× | 5.1% | +0.5% |
| Befar 6745.HK | Hong Kong | $1.52B | n/a | +25% | 5% | 9.7× | 3.6% | +17.3% |
| Denka 4061.T | Japan | $1.51B | -33% | -3% | 9% | 12.7× | n/a | n/a |
| KumhoPetrochem 011780.KS | South Korea | $1.50B | -37% | 0% | 7% | 4.3× | -16.5% | +7.5% |
| Fuso Chemical 4368.T | Japan | $1.79B | -19% | +17% | 26% | 13.1× | 8.4% | +12.8% |
| Anhui Wanwei Updated High-Tech Material Industry 600063.SS | China | $1.49B | -32% | +3% | 4% | 20.0× | n/a | n/a |
| Shaily Engineering Plastics SHAILY.NS | India | $1.48B | +14% | +18% | 24% | 56.7× | 35.8% | +22.8% |