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Chinese state-owned specialty chemicals maker under Sinochem, producing fluorochemicals, electronic specialty gases, rubber chemicals and coatings.
Chinese state-owned specialty chemicals maker under Sinochem, producing fluorochemicals, electronic specialty gases, rubber chemicals and coatings.
In one line: A diversified Chinese specialty-chemicals conglomerate under state ownership.
Moat: narrow (regulatory licence, process know-how). State-backed (Sinochem) fluorochemical and electronic-gas quotas/licences plus process know-how in niche chemicals.
Headquarters: Beijing, China · Founded: 1997 · Employees: 11,652
Size Haohua Chemical Science & Technology (600378.SS) is a China Materials company (Chemicals: Specialty) with a market value of $6.29B, the 397th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.07 on 6 Nov 2026.
Performance Over six months the shares fell 9.2%, against -9.3% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 20.2% over the last twelve months (peer median +7.7%); the operating margin is 9.0% (peer median 14.2%).
Valuation It trades at 22.1× forward earnings against a peer median of 19.0× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points above its cost of capital (10.5% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.3B | CN¥16.6B | CN¥13.9B | CN¥14.5B | CN¥9.03B |
| Revenue growth | — | +19% | -4% | +60% | — |
| Gross profit | CN¥5.74B | CN¥3.92B | CN¥2.69B | CN¥3.03B | CN¥2.07B |
| EBITDA | n/a | CN¥2.63B | CN¥1.53B | CN¥1.73B | CN¥1.08B |
| Net income | CN¥1.58B | CN¥1.44B | CN¥1.05B | CN¥1.18B | CN¥1.16B |
| Free cash flow | CN¥2.50B | CN¥604M | -CN¥1.29B | -CN¥817M | -CN¥617M |
| Capital expenditure | CN¥913M | CN¥1.52B | CN¥2.14B | CN¥1.98B | CN¥1.62B |
| Total debt | CN¥5.62B | CN¥5.76B | CN¥5.85B | CN¥6.43B | CN¥3.43B |
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 |
|---|---|---|---|---|---|---|
| Haohua Chemical Science & Technology 600378.SS | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% |
| Zhejiang Juhua 600160.SS | $13.1B | -12% | -5% | 20% | 18.2× | n/a |
| Aeolus Tire 600469.SS | $598M | -30% | +2% | 4% | n/a | n/a |
| Air Products APD | $67.9B | +4% | +5% | 24% | 21.2× | n/a |
| Linde LIN | $237B | +5% | +8% | 27% | 27.0× | 14.4% |
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 | 600378.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.4% | +1.5% | 6th lowest of 21 |
| 6-month return | -9.2% | -9.3% | 11th highest of 21 |
| Distance from 52-week high | -62.5% | -28.1% | 3rd lowest of 21 |
| Revenue growth (TTM) | +20.2% | +7.7% | 7th highest of 21 |
| Operating margin | 9.0% | 14.2% | 7th lowest of 21 |
| Forward P/E | 22.1× | 19.0× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 11.0% | 7.3% | 8th most demanding of 17 |
| Growth delivered (Del g) | +25.2% | +9.7% | 2nd highest of 17 |
| Hurdle (Req g minus delivered) | -14.3 pp | +2.1 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | +0.3 pp | -0.7 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| Shenzhen Capchem Technology 300037.SZ | China | $6.16B | -21% | +72% | 13% | 19.0× | 19.3% | +26.6% |
| Inner Mongolia Junzheng Energy & Chemical 601216.SS | China | $5.92B | -16% | +3% | 11% | 12.0× | -3.4% | +11.3% |
| Kingboard 0148.HK | Hong Kong | $5.78B | -17% | +19% | 15% | 5.0× | n/a | n/a |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| Nissan Chemical 4021.T | Japan | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% | +6.0% |
| Zhejiang Longsheng 600352.SS | China | $5.70B | -11% | -1% | 19% | 13.7× | -5.2% | -3.1% |
| Coromandel International COROMANDEL.NS | India | $5.69B | -7% | +24% | 8% | 27.3× | n/a | n/a |
| Canmax Technologies 300390.SZ | China | $5.62B | -64% | +98% | 27% | 7.3× | n/a | n/a |
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Eastman Chemical EMN | United States | $7.37B | -13% | 0% | 10% | 10.2× | 5.1% | +0.7% |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Westlake WLK | United States | $8.11B | -32% | 0% | 1% | 38.6× | 37.4% | +8.3% |