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Employees: 3,621
Size Guangdong Guanhao High-Tech (600433.SS) is a China Materials company (Pulp & Paper) with a market value of $788M, the 2805th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.05 on 6 Nov 2026.
Performance Over six months the shares fell 37.0%, against -21.0% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 1.5% over the last twelve months (peer median +1.3%); the operating margin is -3.5% (peer median 1.4%).
Valuation It trades at 11.7× forward earnings against a peer median of 15.4× (2nd cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +24 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 6.1 points below its cost of capital (6.0% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.36B | CN¥7.15B | CN¥7.56B | CN¥7.40B | CN¥8.07B |
| Revenue growth | — | -5% | +2% | -8% | — |
| Gross profit | CN¥744M | CN¥292M | CN¥626M | CN¥402M | CN¥1.07B |
| EBITDA | n/a | -CN¥24.6M | CN¥425M | CN¥74.2M | CN¥756M |
| Net income | CN¥32.5M | -CN¥304M | CN¥184M | -CN¥46.2M | CN¥385M |
| Free cash flow | CN¥131M | -CN¥1.19B | -CN¥201M | -CN¥957M | CN¥552M |
| Capital expenditure | CN¥546M | CN¥891M | CN¥741M | CN¥720M | CN¥260M |
| Total debt | CN¥3.98B | CN¥4.83B | CN¥3.69B | CN¥3.01B | CN¥1.69B |
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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 | 600433.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | -8.4% | 9th highest of 21 |
| 6-month return | -37.0% | -21.0% | 3rd lowest of 21 |
| Distance from 52-week high | -43.1% | -38.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -1.5% | +1.3% | 9th lowest of 21 |
| Operating margin | -3.5% | 1.4% | 8th lowest of 21 |
| Forward P/E | 11.7× | 15.4× | 2nd cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 25.9% | 3.5% | most demanding of 10 |
| Growth delivered (Del g) | +2.0% | +3.4% | 3rd lowest of 10 |
| Hurdle (Req g minus delivered) | +23.9 pp | -0.9 pp | most demanding of 10 |
| ROIC minus cost of capital | -6.1 pp | -4.7 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Guanhao High-Tech 600433.SS | China | $788M | -37% | -1% | -4% | 11.7× | 25.9% | +2.0% |
| Zhejiang Jingxing Paper Joint Stock 002067.SZ | China | $787M | -27% | +18% | 0% | n/a | n/a | n/a |
| Hokuetsu 3865.T | Japan | $816M | -9% | -5% | 2% | 17.2× | n/a | n/a |
| Sichuan Jinshi Technology 002951.SZ | China | $840M | -7% | -52% | -102% | n/a | n/a | n/a |
| Shandong Bohui Paper Industry 600966.SS | China | $841M | -33% | -2% | 2% | 38.0× | -0.6% | +6.5% |
| Japan Pulp and Paper 8032.T | Japan | $877M | +9% | +10% | 2% | 15.3× | 3.5% | +5.6% |
| JK Paper JKPAPER.NS | India | $707M | -1% | +12% | 8% | 9.8× | 19.8% | +20.7% |
| Wuzhou Special Paper 605007.SS | China | $882M | -22% | +17% | 5% | 12.1× | n/a | n/a |
| Nippon Paper Industries 3863.T | Japan | $899M | -6% | +2% | 2% | 11.8× | 15.4% | +3.4% |
| Fujian Qingshan Paper Industry 600103.SS | China | $930M | -35% | +5% | 2% | n/a | 14.6% | -0.5% |
| Shandong Huatai Paper 600308.SS | China | $662M | -25% | -5% | -2% | n/a | n/a | n/a |
| Hangzhou Huawang New Material Technology 605377.SS | China | $655M | -20% | -13% | 8% | 13.2× | -7.9% | +14.8% |
| Shanying International 600567.SS | China | $962M | -27% | +1% | -7% | n/a | -11.8% | +2.9% |
| ENCE Energia y Celulosa ENC.MC | Spain | $608M | -9% | -1% | 1% | n/a | n/a | n/a |
| Yueyang Forest & Paper 600963.SS | China | $1.02B | -14% | -10% | -5% | 19.9× | n/a | n/a |
| Daio Paper 3880.T | Japan | $1.03B | +3% | +1% | 4% | 15.6× | 3.7% | +3.4% |
| Xiamen Anne 002235.SZ | China | $593M | -38% | +1% | -9% | n/a | n/a | n/a |
| Zhejiang Rongsheng Environmental Protection Paper 603165.SS | China | $554M | -32% | +10% | 2% | n/a | n/a | n/a |
| Shandong Chenming Paper 1812.HK | Hong Kong | $545M | -52% | +4% | -37% | n/a | n/a | n/a |
| Anhui Genuine New Materials 603429.SS | China | $539M | -33% | -37% | -46% | n/a | n/a | n/a |
| Zhangjiagang Freetrade Science & Technology 600794.SS | China | $533M | -17% | -35% | -32% | 22.8× | -9.2% | -21.8% |