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State-owned Northeast China grain-farm operator, part of the Beidahuang Group, China's largest farmland operator.
State-owned Northeast China grain-farm operator, part of the Beidahuang Group, China's largest farmland operator.
Sells the grain it grows on state-allotted farmland to traders and state reserves, so results depend on harvest, weather and grain prices as much as on farm scale. The parent, Beidahuang Group, is the state-run farm group that holds the land.
Moat: narrow (scale, regulatory licence). Controls vast state-allocated farmland in Heilongjiang with mechanized-scale advantages.
Headquarters: Harbin, Heilongjiang, China · Employees: 27,562
Size Heilongjiang Agriculture (600598.SS) is a China Consumer Staples company (Agricultural Commodities/Milling) with a market value of $3.66B, the 704th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.73 on 6 Nov 2026.
Performance Over six months the shares fell 18.0%, against -12.9% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 11.8% over the last twelve months (peer median +8.1%); the operating margin is 24.4% (peer median 5.0%).
Valuation It trades at 59.7× forward earnings against a peer median of 15.2× (most expensive of 14).
Capital Return on invested capital runs 30.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.49B | CN¥5.23B | CN¥5.34B | CN¥5.04B | CN¥4.26B |
| Revenue growth | — | -2% | +6% | +18% | — |
| Gross profit | CN¥2.01B | CN¥1.74B | CN¥1.78B | CN¥1.73B | CN¥1.63B |
| EBITDA | n/a | CN¥1.42B | CN¥1.32B | CN¥1.25B | CN¥1.18B |
| Net income | -CN¥419M | CN¥1.17B | CN¥1.09B | CN¥1.06B | CN¥975M |
| Free cash flow | -CN¥66.0M | CN¥1.19B | CN¥1.08B | CN¥941M | CN¥942M |
| Capital expenditure | CN¥130M | CN¥172M | CN¥445M | CN¥579M | CN¥349M |
| Total debt | CN¥9.24M | CN¥10.1M | CN¥73.0M | CN¥57.0M | CN¥26.6M |
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 |
|---|---|---|---|---|---|---|
| Heilongjiang Agriculture 600598.SS | $3.66B | -18% | -12% | 24% | 59.7× | n/a |
| Tianjin Capital Environmental Protection 600874.SS | $1.21B | -9% | -3% | 29% | 9.6× | -15.4% |
| Jiangsu Provincial Agricultural Reclamation & Dev 601952.SS | $1.72B | -16% | -5% | 4% | 20.1× | -2.2% |
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 | 600598.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +0.8% | 6th highest of 21 |
| 6-month return | -18.0% | -12.9% | 8th lowest of 21 |
| Distance from 52-week high | -25.2% | -24.8% | 11th highest of 21 |
| Revenue growth (TTM) | -11.8% | +8.1% | 3rd lowest of 21 |
| Operating margin | 24.4% | 5.0% | 2nd highest of 21 |
| Forward P/E | 59.7× | 15.2× | most expensive of 14 |
| ROIC minus cost of capital | +30.5 pp | +0.6 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Heilongjiang Agriculture 600598.SS | China | $3.66B | -18% | -12% | 24% | 59.7× | n/a | n/a |
| Fujian Wanchen Food 300972.SZ | China | $3.86B | -43% | +46% | 7% | 9.9× | -18.7% | +157.9% |
| Nichirei 2871.T | Japan | $3.42B | +13% | +10% | 5% | 24.2× | 2.4% | +4.6% |
| Godrej Industries GODREJIND.NS | India | $3.41B | -22% | +17% | 8% | n/a | n/a | n/a |
| Cofco Sugar 600737.SS | China | $3.94B | -18% | -29% | 6% | 22.9× | n/a | n/a |
| Nisshin Seifun 2002.T | Japan | $3.94B | +14% | +3% | 5% | 15.4× | -1.1% | +4.9% |
| Seaboard SEB | United States | $3.38B | -22% | +7% | 3% | n/a | n/a | n/a |
| Jiangxi Zhengbang Technology 002157.SZ | China | $3.97B | -17% | +15% | -10% | n/a | n/a | n/a |
| Fujian Sunner Development 002299.SZ | China | $3.28B | -7% | +13% | 5% | 19.1× | -1.0% | +7.9% |
| First Resources Ltd. (Singapore) EB5.SI | Singapore | $3.27B | -26% | +51% | 30% | 7.6× | -7.1% | +19.0% |
| Ebro Foods EBRO.MC | Spain | $3.12B | +1% | -4% | 10% | 13.2× | -7.7% | +4.4% |
| Ldc LOUP.PA | France | $4.35B | -6% | +15% | 6% | 11.7× | -7.7% | +10.5% |
| Cal-Maine Foods CALM | United States | $3.02B | -15% | -43% | 1% | n/a | n/a | n/a |
| Jiangsu Lihua Animal Husbandry 300761.SZ | China | $2.94B | +2% | +7% | 3% | 29.1× | 4.0% | +16.8% |
| Schouw & SCHO.CO | Denmark | $2.90B | +30% | -1% | 4% | 15.1× | -3.3% | +9.9% |
| New Hope Liuhe 000876.SZ | China | $4.71B | -19% | +7% | -3% | n/a | n/a | n/a |
| Patanjali Foods PATANJALI.NS | India | $4.75B | -11% | +19% | 4% | 27.1× | n/a | n/a |
| Golden Agri-Resources E5H.SI | Singapore | $2.68B | -18% | +9% | 6% | 4.2× | -13.7% | +11.6% |
| Yunnan Shennong Agricultural Industry 605296.SS | China | $2.60B | +10% | +2% | -19% | n/a | n/a | n/a |
| Curaleaf CURA.TO | Canada | $2.50B | -18% | +5% | 1% | n/a | n/a | n/a |
| Fuji Oil 2607.T | Japan | $2.46B | +36% | +10% | 5% | 15.2× | 0.9% | +16.2% |