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Develops and operates the massive Yiwu wholesale market for small commodities, plus related logistics and trade services.
Develops and operates the massive Yiwu wholesale market for small commodities, plus related logistics and trade services.
Earns mainly rent and management fees from merchants who lease stalls in the Yiwu market, plus fees from related services such as logistics, exhibitions and an online platform for foreign buyers. The market is controlled through the Yiwu city government.
In one line: Operator of the world's largest small-goods wholesale market, no direct US analogue.
Moat: wide (installed base, network effects, scale). Operates the dominant global hub for small-commodity wholesale trade, hard to replicate.
Headquarters: Yiwu, China · Founded: 1993 · Employees: 3,306
Size Zhejiang China Commodities City (600415.SS) is a China Industrials company (Wholesale Distributors) with a market value of $10.0B, the 248th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.30 on 6 Nov 2026.
Performance Over six months the shares fell 7.2%, against +2.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 22.0% over the last twelve months (peer median +4.3%); the operating margin is 22.2% (peer median 9.5%).
Valuation It trades at 14.4× forward earnings against a peer median of 19.2× (5th cheapest of 21).
Capital Return on invested capital runs 13.8 points above its cost of capital (5.5% WACC).
Next results Next results expected around 15 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥22.2B | CN¥19.8B | CN¥15.7B | CN¥11.3B | CN¥7.61B |
| Revenue growth | — | +26% | +39% | +48% | — |
| Gross profit | CN¥7.19B | CN¥6.08B | CN¥4.81B | CN¥2.84B | CN¥1.04B |
| EBITDA | n/a | CN¥5.80B | CN¥4.33B | CN¥2.83B | CN¥1.03B |
| Net income | CN¥4.21B | CN¥4.20B | CN¥3.07B | CN¥2.68B | CN¥1.10B |
| Free cash flow | -CN¥2.17B | CN¥8.52B | CN¥3.25B | -CN¥634M | -CN¥2.55B |
| Capital expenditure | CN¥4.50B | CN¥2.18B | CN¥1.50B | CN¥2.63B | CN¥4.11B |
| Total debt | CN¥3.29B | CN¥3.51B | CN¥7.68B | CN¥9.44B | CN¥8.39B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang China Commodities City 600415.SS | $10.0B | -7% | +22% | 22% | 14.4× | n/a |
| China Merchants Shekou Industrial Zone 001979.SZ | $10.4B | -10% | -22% | 1% | 69.7× | n/a |
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 | 600415.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.6% | +3.4% | 3rd highest of 21 |
| 6-month return | -7.2% | +2.5% | 8th lowest of 21 |
| Distance from 52-week high | -35.3% | -14.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +22.0% | +4.3% | 2nd highest of 21 |
| Operating margin | 22.2% | 9.5% | 2nd highest of 21 |
| Forward P/E | 14.4× | 19.2× | 5th cheapest of 21 |
| ROIC minus cost of capital | +13.8 pp | +1.3 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| WESCO International WCC | United States | $14.2B | -18% | +14% | 6% | 14.1× | 10.4% | +13.8% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |