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One of China's largest pharmaceutical glass packaging makers — tubing, vials and ampoules for injectable drugs.
One of China's largest pharmaceutical glass packaging makers — tubing, vials and ampoules for injectable drugs.
Sells glass packaging that drugmakers cannot easily swap, since changing the container of an injectable drug generally means re-validating the product, so supply relationships last for years. The move from older soda-lime glass to higher-grade borosilicate glass, which resists reaction with the drug, raises the value of each vial.
In one line: A China-focused Gerresheimer/SCHOTT Pharma.
Moat: narrow (customer qualification, regulatory licence, scale). Pharma-grade glass packaging requires regulatory/customer qualification; the firm has leading domestic scale.
Headquarters: Zibo, Shandong, China · Employees: 6,775
Size Shandong Pharmaceutical Glass (600529.SS) is a China Materials company (Containers/Packaging) with a market value of $1.85B, the 1357th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.59 on 6 Nov 2026.
Performance Over six months the shares fell 0.3%, against -7.4% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 9.5% over the last twelve months (peer median +3.2%); the operating margin is 18.0% (peer median 6.0%).
Valuation It trades at 16.5× forward earnings against a peer median of 16.2× (10th cheapest of 19).
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 -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.2 points above its cost of capital (6.6% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.32B | CN¥4.45B | CN¥4.88B | CN¥4.77B | CN¥4.15B |
| Revenue growth | — | -9% | +2% | +15% | — |
| Gross profit | CN¥1.64B | CN¥1.38B | CN¥1.55B | CN¥1.40B | CN¥1.03B |
| EBITDA | n/a | CN¥1.23B | CN¥1.41B | CN¥1.15B | CN¥957M |
| Net income | CN¥667M | CN¥690M | CN¥943M | CN¥776M | CN¥618M |
| Free cash flow | n/a | CN¥375M | CN¥555M | CN¥413M | -CN¥451M |
| Capital expenditure | n/a | CN¥232M | CN¥648M | CN¥672M | CN¥711M |
| Total debt | CN¥532M | CN¥558M | CN¥750M | CN¥696M | CN¥842M |
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 |
|---|---|---|---|---|---|---|
| Shandong Pharmaceutical Glass 600529.SS | $1.85B | 0% | -9% | 18% | 16.5× | -2.4% |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% |
| Gerresheimer GXI.DE | $1.21B | +24% | +9% | -4% | 18.0× | 55.8% |
| Jiangsu Hualan New Pharmaceutical Material 301093.SZ | $1.53B | -27% | +6% | 5% | 77.4× | 50.9% |
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 | 600529.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.7% | +0.4% | 8th highest of 21 |
| 6-month return | -0.3% | -7.4% | 8th highest of 21 |
| Distance from 52-week high | -14.4% | -22.7% | 7th highest of 21 |
| Revenue growth (TTM) | -9.5% | +3.2% | 5th lowest of 21 |
| Operating margin | 18.0% | 6.0% | highest of 21 |
| Forward P/E | 16.5× | 16.2× | 10th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | 2.5% | 6th least demanding of 14 |
| Growth delivered (Del g) | +5.5% | +6.5% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | -7.9 pp | -5.0 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | +6.2 pp | -0.6 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Pharmaceutical Glass 600529.SS | China | $1.85B | 0% | -9% | 18% | 16.5× | -2.4% | +5.5% |
| Winpak WPK.TO | Canada | $1.91B | +12% | +3% | 15% | 12.5× | -10.9% | +6.6% |
| Jia Yao 1626.HK | Hong Kong | $2.05B | +175% | +161% | 6% | n/a | n/a | n/a |
| ORG Technology 002701.SZ | China | $1.65B | -22% | +24% | 5% | 9.6× | -5.2% | +15.8% |
| Jiamei Food Packaging (Chuzhou) 002969.SZ | China | $1.55B | -56% | -10% | 6% | 86.4× | 22.4% | +7.3% |
| Shanghai Zijiang Enterprise 600210.SS | China | $1.54B | -3% | -18% | 10% | 11.3× | n/a | n/a |
| Jiangsu Hualan New Pharmaceutical Material 301093.SZ | China | $1.53B | -27% | +6% | 5% | 77.4× | 50.9% | +6.7% |
| Shanghai Shunho New Materials Technology 002565.SZ | China | $1.51B | -50% | -15% | -3% | n/a | n/a | n/a |
| TriMas TRS | United States | $1.37B | -10% | -33% | 5% | 19.1× | n/a | n/a |
| Orora ORA.AX | Australia | $1.34B | +17% | +6% | 11% | 15.8× | 2.5% | -8.9% |
| Verallia SAS VRLA.PA | France | $2.56B | -10% | -3% | 9% | 14.7× | 5.6% | +5.6% |
| Shenzhen Leaguer 002243.SZ | China | $1.27B | -18% | +5% | -3% | 19.9× | 44.6% | +1.6% |
| Nine Dragons Paper 2689.HK | Hong Kong | $2.76B | -29% | +22% | 9% | 4.4× | n/a | n/a |
| Shenzhen Changhong Technology 300151.SZ | China | $1.23B | -12% | -1% | 6% | 59.9× | n/a | n/a |
| Ardagh Metal Packaging AMBP | United States | $2.82B | +18% | +17% | 5% | 17.0× | 4.1% | +9.8% |
| Gerresheimer GXI.DE | Germany | $1.21B | +24% | +9% | -4% | 18.0× | 55.8% | +10.3% |
| Viscofan VIS.MC | Spain | $2.86B | -5% | +3% | 15% | 16.6× | -3.4% | +6.5% |
| Fuji Seal International 7864.T | Japan | $1.18B | +38% | +4% | 9% | 10.8× | -9.5% | +5.9% |
| Cascades CAS.TO | Canada | $1.15B | +49% | +1% | 5% | 9.2× | -1.9% | +3.1% |
| Huhtamaki HUH1V.HE | Finland | $3.12B | -1% | -2% | 9% | 11.0× | -6.3% | +3.7% |
| Suzhou Hycan 002787.SZ | China | $1.09B | -10% | 0% | 7% | 36.4× | n/a | n/a |