Loading…
One of China's largest glyphosate herbicide producers, also making other agrochemicals and organosilicon products.
One of China's largest glyphosate herbicide producers, also making other agrochemicals and organosilicon products.
Sells glyphosate, a widely used weed killer, and silicone intermediates at market prices, so earnings swing with supply and demand cycles rather than with customer wins. China makes most of the world's glyphosate, so Chinese producers' output and export prices move the market it sells into.
In one line: A Chinese glyphosate-scale producer akin to Bayer's crop-chemical business.
Moat: none (scale). Glyphosate is a global commodity chemical; competitiveness rests on production scale and cost, not differentiation.
Headquarters: Hangzhou, China · Employees: 8,097
Size Zhejiang Xinan Chemical Industrial (600596.SS) is a China Materials company (Chemicals: Agricultural) with a market value of $1.75B, the 1417th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.65 on 6 Nov 2026.
Performance Over six months the shares fell 30.7%, against -26.3% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +6.2%); the operating margin is 2.0% (peer median 8.1%).
Valuation It trades at 22.9× forward earnings against a peer median of 15.0× (5th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +9 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 5.2 points below its cost of capital (9.4% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.3B | CN¥14.6B | CN¥14.6B | CN¥14.5B | CN¥21.7B |
| Revenue growth | — | 0% | 0% | -33% | — |
| Gross profit | CN¥2.60B | CN¥1.55B | CN¥1.39B | CN¥1.61B | CN¥5.07B |
| EBITDA | n/a | CN¥900M | CN¥777M | CN¥840M | CN¥3.96B |
| Net income | CN¥264M | CN¥147M | CN¥51.4M | CN¥134M | CN¥2.95B |
| Free cash flow | CN¥336M | -CN¥66.3M | -CN¥1.14B | -CN¥1.67B | CN¥1.56B |
| Capital expenditure | CN¥515M | CN¥973M | CN¥1.61B | CN¥1.96B | CN¥1.38B |
| Total debt | CN¥4.94B | CN¥4.39B | CN¥4.26B | CN¥4.20B | CN¥3.31B |
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 Xinan Chemical Industrial 600596.SS | $1.75B | -31% | +5% | 2% | 22.9× | 12.4% |
| Jiangsu Yangnong Chemical 600486.SS | $3.42B | -22% | +3% | 13% | 16.2× | 0.8% |
| Bayer BAYN.DE | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% |
| Hubei Xingfa Chemicals 600141.SS | $4.19B | -27% | +4% | 8% | 15.3× | n/a |
| Lier Chemical 002258.SZ | $1.85B | +20% | +6% | 8% | 21.0× | n/a |
| Corteva CTVA | $7.94B | -85% | +4% | 17% | 30.4× | -16.6% |
| UPL UPL.NS | $4.78B | -18% | +10% | 14% | 14.8× | 10.9% |
| Nufarm NUF.AX | $897M | +40% | -2% | 3% | 62.4× | 9.9% |
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 | 600596.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.5% | -8.9% | 4th lowest of 21 |
| 6-month return | -30.7% | -26.3% | 8th lowest of 21 |
| Distance from 52-week high | -53.0% | -34.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +5.3% | +6.2% | 9th lowest of 21 |
| Operating margin | 2.0% | 8.1% | lowest of 21 |
| Forward P/E | 22.9× | 15.0× | 5th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 12.4% | 8.2% | 5th most demanding of 10 |
| Growth delivered (Del g) | +3.1% | +6.9% | 3rd lowest of 10 |
| Hurdle (Req g minus delivered) | +9.3 pp | -5.8 pp | 4th most demanding of 10 |
| ROIC minus cost of capital | -5.2 pp | +0.9 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Xinan Chemical Industrial 600596.SS | China | $1.75B | -31% | +5% | 2% | 22.9× | 12.4% | +3.1% |
| Sumitomo Chemical India SUMICHEM.NS | India | $1.74B | -34% | -3% | 18% | 28.1× | 23.4% | +4.1% |
| Lier Chemical 002258.SZ | China | $1.85B | +20% | +6% | 8% | 21.0× | n/a | n/a |
| Tata Chemicals TATACHEM.NS | India | $1.64B | -25% | +2% | 3% | 85.9× | n/a | n/a |
| Atul ATUL.NS | India | $1.63B | -26% | +18% | 12% | 19.7× | 18.2% | +11.0% |
| Hubei Yihua Chemical Industry 000422.SZ | China | $1.60B | -42% | +15% | 5% | 15.2× | n/a | n/a |
| Sichuan Development Lomon 002312.SZ | China | $1.93B | -36% | +5% | 6% | 35.0× | 8.2% | +14.0% |
| Bayer Cropscience India BAYERCROP.NS | India | $1.58B | -28% | -5% | 15% | 19.5× | 16.1% | +5.9% |
| Paradeep Phosphates PARADEEP.NS | India | $1.57B | +12% | +31% | 7% | 17.6× | n/a | n/a |
| Deepak Fertilisers and Petrochemicals DEEPAKFERT.NS | India | $1.54B | -14% | +14% | 13% | 10.1× | n/a | n/a |
| China XLX Fertiliser 1866.HK | Hong Kong | $1.51B | -27% | +24% | 8% | 6.7× | n/a | n/a |
| Chengdu Wintrue 002539.SZ | China | $2.09B | -24% | +6% | 6% | 11.7× | n/a | n/a |
| Shenzhen Batian Ecological Technique 002170.SZ | China | $1.44B | -29% | +3% | 23% | 7.1× | -8.1% | +18.8% |
| Holitech Technology 002217.SZ | China | $1.41B | -58% | +17% | 2% | n/a | 45.7% | -37.1% |
| Huapont Life Sciences 002004.SZ | China | $1.39B | -5% | -6% | 11% | n/a | -8.7% | +1.1% |
| Jiang Su Suyan Jingshen 603299.SS | China | $1.28B | -18% | -5% | 5% | 25.9× | n/a | n/a |
| Stanley Agricultural 002588.SZ | China | $1.27B | -33% | +3% | 8% | 8.8× | n/a | n/a |
| Shandong Weifang Rainbow Chemical 301035.SZ | China | $2.42B | -32% | +6% | 12% | 14.9× | -0.1% | +15.0% |
| Shenzhen Noposion Crop Science 002215.SZ | China | $1.25B | -23% | +12% | 13% | 9.3× | -3.9% | +6.9% |
| E.I.D.-Parry (India) EIDPARRY.NS | India | $1.21B | -24% | +16% | 7% | 11.4× | n/a | n/a |
| Sichuan New Energy Power 000155.SZ | China | $2.54B | -47% | +98% | 32% | 12.9× | n/a | n/a |