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Hebei-based chemical group producing viscose staple fiber and soda ash for textile and industrial customers.
Hebei-based chemical group producing viscose staple fiber and soda ash for textile and industrial customers.
Moat: none (scale). Commodity chemical/fiber producer; margins track raw-material and energy costs.
Headquarters: Tangshan, China · Employees: 17,293
Size Tangshan Sanyou Chemical Industries (600409.SS) is a China Consumer Discretionary company (Textiles) with a market value of $1.72B, the 1433rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.57 on 6 Nov 2026.
Performance Over six months the shares fell 28.2%, against -7.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 1.3% over the last twelve months (peer median +5.4%); the operating margin is 1.2% (peer median 9.9%).
Valuation It trades at 24.0× forward earnings against a peer median of 13.3× (3rd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +3 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 3.1 points below its cost of capital (7.8% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.7B | CN¥18.8B | CN¥21.3B | CN¥21.8B | CN¥23.6B |
| Revenue growth | — | -12% | -2% | -7% | — |
| Gross profit | CN¥3.38B | CN¥2.20B | CN¥3.22B | CN¥4.25B | CN¥4.39B |
| EBITDA | n/a | CN¥1.41B | CN¥2.13B | CN¥2.85B | CN¥3.21B |
| Net income | CN¥241M | CN¥89.5M | CN¥499M | CN¥566M | CN¥989M |
| Free cash flow | CN¥709M | -CN¥686M | CN¥715M | CN¥1.35B | CN¥2.03B |
| Capital expenditure | CN¥1.10B | CN¥1.54B | CN¥1.09B | CN¥337M | CN¥376M |
| Total debt | CN¥6.48B | CN¥6.63B | CN¥6.08B | CN¥6.25B | CN¥8.44B |
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 |
|---|---|---|---|---|---|---|
| Tangshan Sanyou Chemical Industries 600409.SS | $1.72B | -28% | +1% | 1% | 24.0× | 4.5% |
| Xinxiang Chemical Fiber 000949.SZ | $1.46B | -27% | +19% | 8% | 12.5× | -3.3% |
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 | 600409.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.9% | -7.0% | 4th lowest of 21 |
| 6-month return | -28.2% | -7.5% | 3rd lowest of 21 |
| Distance from 52-week high | -41.4% | -20.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +1.3% | +5.4% | 9th lowest of 21 |
| Operating margin | 1.2% | 9.9% | 3rd lowest of 21 |
| Forward P/E | 24.0× | 13.3× | 3rd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 4.5% | 1.0% | 9th most demanding of 18 |
| Growth delivered (Del g) | +1.3% | +4.1% | 6th lowest of 18 |
| Hurdle (Req g minus delivered) | +3.2 pp | +2.9 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | -3.1 pp | +1.2 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tangshan Sanyou Chemical Industries 600409.SS | China | $1.72B | -28% | +1% | 1% | 24.0× | 4.5% | +1.3% |
| Ruentex Industries 2915.TW | Taiwan | $1.72B | +23% | -25% | 10% | 6.9× | 48.3% | -2.4% |
| Bros Eastern 601339.SS | China | $1.72B | -16% | +11% | 11% | 11.8× | -8.3% | +5.2% |
| North Chemical Industries 002246.SZ | China | $1.80B | -10% | +17% | 15% | 28.4× | 8.3% | +3.0% |
| Albany International AIN | United States | $1.91B | +8% | +14% | 13% | 22.5× | 8.5% | +5.6% |
| Luolai Lifestyle Technology 002293.SZ | China | $1.55B | +10% | +6% | 14% | 16.4× | -2.6% | -0.2% |
| OC Oerlikon OERL.SW | Switzerland | $1.99B | +41% | -21% | 8% | 15.8× | 1.0% | -7.0% |
| Billion Industrial 2299.HK | Hong Kong | $1.48B | +136% | +13% | 6% | n/a | -8.7% | +15.6% |
| Xinxiang Chemical Fiber 000949.SZ | China | $1.46B | -27% | +19% | 8% | 12.5× | -3.3% | +12.2% |
| Coats COA.L | United Kingdom | $2.14B | +2% | +5% | 15% | 11.2× | 11.6% | +4.1% |
| HMT (Xiamen) New Technical Materials 603306.SS | China | $2.18B | -56% | -1% | 0% | 57.4× | 50.6% | +21.4% |
| Sunvim 002083.SZ | China | $1.16B | -20% | +19% | 17% | 9.8× | -12.1% | +3.3% |
| Kurabo Industries 3106.T | Japan | $1.10B | +33% | -3% | 7% | n/a | 8.2% | +3.3% |
| Zhejiang Taihua New Material 603055.SS | China | $1.09B | -9% | +3% | 10% | 10.2× | -5.0% | +20.7% |
| Shanghai Haixin 600851.SS | China | $1.08B | +4% | -15% | 7% | n/a | n/a | n/a |
| Seiren 3569.T | Japan | $1.07B | -1% | +12% | 12% | 10.7× | -4.9% | +11.7% |
| Huafon Microfibre (Shanghai) 300180.SZ | China | $1.06B | -24% | -6% | -1% | n/a | 16.2% | +4.4% |
| Nitto Boseki 3110.T | Japan | $2.85B | -58% | +12% | 20% | 19.3× | n/a | n/a |
| Nanjing Chemical Fibre 600889.SS | China | $1.03B | -24% | +115% | 5% | n/a | 35.4% | -3.9% |
| Zhejiang Hangmin 600987.SS | China | $1.02B | -6% | -23% | 8% | n/a | n/a | n/a |
| Shenzhen Fuanna Bedding & Furnishing 002327.SZ | China | $951M | -26% | -5% | 12% | 14.0× | -1.3% | -2.1% |