Employees: 3,013
Size Xinjiang Qingsong Building Materials & Chemicals (Group) (600425.SS) is a China Materials company (Construction Materials) with a market value of $833M, the 2662nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.46 on 6 Nov 2026.
Performance Over six months the shares fell 15.6%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 8.2% over the last twelve months (peer median -3.1%); the operating margin is 9.2% (peer median 6.9%).
Valuation It trades at 17.3× forward earnings against a peer median of 16.6× (7th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points below 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¥3.69B | CN¥3.87B | CN¥4.31B | CN¥4.43B | CN¥3.72B |
| Revenue growth | — | -10% | -3% | +19% | — |
| Gross profit | CN¥817M | CN¥807M | CN¥923M | CN¥990M | CN¥899M |
| EBITDA | CN¥795M | CN¥788M | CN¥807M | CN¥984M | CN¥769M |
| Net income | CN¥291M | CN¥276M | CN¥354M | CN¥463M | CN¥415M |
| Free cash flow | CN¥640M | CN¥362M | CN¥119M | CN¥277M | CN¥63.4M |
| Capital expenditure | CN¥144M | CN¥205M | CN¥248M | CN¥199M | CN¥170M |
| Total debt | CN¥1.59B | CN¥1.51B | CN¥1.86B | CN¥2.30B | CN¥2.43B |
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| Measure | 600425.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | -3.8% | 10th lowest of 21 |
| 6-month return | -15.6% | -10.8% | 9th lowest of 21 |
| Distance from 52-week high | -31.5% | -27.6% | 10th lowest of 21 |
| Revenue growth (TTM) | -8.2% | -3.1% | 8th lowest of 20 |
| Operating margin | 9.2% | 6.9% | 8th highest of 21 |
| Forward P/E | 17.3× | 16.6× | 7th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 2.0% | -3.6% | 8th most demanding of 18 |
| Growth delivered (Del g) | +5.1% | +3.5% | 8th highest of 18 |
| Hurdle (Req g minus delivered) | -3.2 pp | -3.9 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | -2.5 pp | -2.1 pp | 10th lowest of 21 |
| EV / EBITDA | 7.6× | 8.1× | 6th cheapest of 13 |
| Net debt / EBITDA | 0.2× | 1.3× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xinjiang Qingsong Building Materials & Chemicals (Group) 600425.SS | China | $833M | -16% | -8% | 9% | 17.3× | 2.0% | +5.1% |
| NWPX Infrastructure NWPX | United States | $841M | -22% | +16% | 12% | 17.5× | 6.2% | +12.9% |
| Ningxia Building Materials 600449.SS | China | $818M | -12% | -36% | 0% | 19.0× | -3.6% | +0.3% |
| Yang Guang 000608.SZ | China | $814M | +60% | +68% | 4% | n/a | n/a | n/a |
| Sinostone (Guangdong) 001212.SZ | China | $814M | -52% | -21% | -18% | n/a | n/a | n/a |
| China Resources Building Materials Technology 1313.HK | Hong Kong | $873M | -31% | -12% | -3% | n/a | -8.1% | -10.6% |
| China West Construction 002302.SZ | China | $884M | -16% | -24% | -7% | n/a | 12.5% | -5.0% |
| Pan-United P52.SI | Singapore | $784M | -9% | +26% | 7% | 15.4× | -5.3% | +17.3% |
| Guangdong Dongpeng 003012.SZ | China | $779M | -24% | -15% | 0% | 29.8× | -3.8% | -3.3% |
| Jilin Yatai (Group) 600881.SS | China | $776M | +3% | -15% | -21% | n/a | 5.0% | -20.1% |
| Hanilcmt 300720.KS | South Korea | $905M | -4% | -10% | 11% | 11.9× | -3.2% | +7.9% |
| Maeda Kosen 7821.T | Japan | $944M | +21% | +11% | 17% | 14.8× | -4.7% | +10.6% |
| Sumitomo Osaka Cement 5232.T | Japan | $969M | +49% | +5% | 7% | 13.7× | 4.6% | -1.3% |
| Goldsun Building Materials 2504.TW | Taiwan | $1.06B | -14% | -3% | 22% | 8.4× | -7.1% | +3.6% |
| Wagners WGN.AX | Australia | $650M | -4% | +17% | 12% | 20.7× | 10.2% | +9.5% |
| Suncrete RMIX | United States | $646M | -47% | n/a | 1% | 61.2× | n/a | n/a |
| Mitani Sekisan 5273.T | Japan | $1.12B | +33% | +9% | 18% | n/a | -8.4% | +7.7% |
| Loma Negra Compania Industrial Argentina SA Sponsored ADR LOMA | United States | $1.12B | -21% | -5% | 9% | 16.6× | 13.6% | +2.9% |
| Nichiha 7943.T | Japan | $599M | -10% | -3% | 7% | 13.0× | -3.7% | +3.5% |
| Cementos Pacasmayo SAA Sponsored ADR CPAC | United States | $1.16B | +20% | +21% | 25% | 22.2× | -9.8% | +9.9% |
| Sinosteel Luonai Materials Technology 688119.SS | China | $597M | -32% | -2% | -13% | n/a | 3.7% | -0.3% |