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Shanghai chlor-alkali producer making caustic soda, PVC and specialty organic-silicon products.
Shanghai chlor-alkali producer making caustic soda, PVC and specialty organic-silicon products.
Electrolyses salt to make chlorine and caustic soda together, then turns the chlorine into PVC, so power is its main cost and the prices of all three products need to balance. Selling prices follow national supply and demand rather than the company's own pricing.
Moat: none (scale). Caustic soda and PVC are commodity chemicals priced on national supply/demand.
Headquarters: Shanghai, China · Employees: 1,353
Size Shanghai Chlor-Alkali Chemical (600618.SS) is a China Materials company (Chemicals: Specialty) with a market value of $1.24B, the 1915th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.11 on 6 Nov 2026.
Performance Over six months the shares fell 29.2%, against -21.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +3.3%); the operating margin is 5.9% (peer median 10.8%).
Valuation It trades at 1.2× enterprise value to sales against a peer median of 3.4× (5th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (6.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.01B | CN¥7.82B | CN¥8.17B | CN¥7.20B | CN¥6.34B |
| Revenue growth | — | -4% | +13% | +14% | — |
| Gross profit | CN¥1.68B | CN¥1.29B | CN¥1.44B | CN¥1.24B | CN¥1.73B |
| EBITDA | n/a | CN¥1.11B | CN¥1.18B | CN¥909M | CN¥1.46B |
| Net income | CN¥699M | CN¥863M | CN¥787M | CN¥761M | CN¥1.37B |
| Free cash flow | CN¥440M | -CN¥1.26B | CN¥797M | CN¥41.7M | -CN¥397M |
| Capital expenditure | CN¥1.06B | CN¥2.62B | CN¥806M | CN¥626M | CN¥1.85B |
| Total debt | CN¥4.44B | CN¥3.44B | CN¥1.33B | CN¥1.80B | CN¥1.55B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Shanghai Chlor-Alkali Chemical 600618.SS | $1.24B | -29% | +2% | 6% | 1.2× | -0.4% |
| Xinjiang Zhongtai Chemical 002092.SZ | $1.57B | -41% | +7% | 3% | 1.4× | -4.2% |
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 | 600618.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | -8.5% | 10th highest of 21 |
| 6-month return | -29.2% | -21.0% | 6th lowest of 21 |
| Distance from 52-week high | -49.9% | -44.5% | 8th lowest of 21 |
| Revenue growth (TTM) | +2.0% | +3.3% | 9th lowest of 21 |
| Operating margin | 5.9% | 10.8% | 8th lowest of 21 |
| EV / Sales | 1.2× | 3.4× | 5th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.4% | 2.4% | 6th least demanding of 11 |
| Growth delivered (Del g) | +9.9% | +9.8% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | -10.3 pp | -3.8 pp | 4th least demanding of 11 |
| ROIC minus cost of capital | -0.4 pp | -2.1 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Chlor-Alkali Chemical 600618.SS | China | $1.24B | -29% | +2% | 6% | 1.2× | -0.4% | +9.9% |
| Anhui Shenjian New Materials 002361.SZ | China | $1.25B | -54% | -4% | -3% | 4.1× | n/a | n/a |
| Guizhou Redstar Developing 600367.SS | China | $1.25B | +14% | +1% | 7% | 3.5× | 26.8% | +9.1% |
| Nan Pao Resins Chemical 4766.TW | Taiwan | $1.24B | -6% | +3% | 16% | 1.7× | -8.7% | +8.3% |
| Zhejiang Jiahua Energy Chemical Industry 600273.SS | China | $1.23B | -22% | +4% | 5% | 1.0× | -6.3% | +12.9% |
| Shanghai Skychem Technology 688603.SS | China | $1.22B | -29% | +38% | 19% | 12.4× | n/a | n/a |
| Yunnan Energy Investment 002053.SZ | China | $1.21B | -24% | -24% | 20% | 6.8× | n/a | n/a |
| Tongyu Advanced Materials (Guangdong) 301630.SZ | China | $1.21B | -19% | +26% | 18% | 5.0× | 35.9% | +26.0% |
| Shandong Kaisheng New Materials 301069.SZ | China | $1.28B | -19% | +20% | 13% | 6.2× | 29.2% | +10.4% |
| Chengzhi 000990.SZ | China | $1.29B | -43% | -7% | 7% | 1.1× | -2.8% | +2.2% |
| ISE Chemicals 4107.T | Japan | $1.20B | -30% | 0% | 22% | 4.6× | 18.6% | +18.4% |
| Shiny Chemical Industrial 1773.TW | Taiwan | $1.29B | -20% | +20% | 22% | 3.4× | 5.5% | +8.1% |
| Beijing Haixin Energy Technology 300072.SZ | China | $1.30B | -20% | +61% | -9% | 2.1× | n/a | n/a |
| Toagosei 4045.T | Japan | $1.19B | +3% | +2% | 9% | 1.2× | n/a | n/a |
| Chemtrade Logistics Income Fund CHE-UN.TO | Canada | $1.19B | -17% | +12% | 12% | 1.4× | -0.8% | +7.7% |
| Industrie De Nora DNR.MI | Italy | $1.31B | -23% | -2% | 14% | 1.4× | n/a | n/a |
| REX American Resources REX | United States | $1.31B | -21% | +6% | 15% | 1.5× | -3.8% | +11.7% |
| Dawei Technology (Guangdong) 600589.SS | China | $1.32B | -38% | +29% | -10% | 22.0× | n/a | n/a |
| Hunan Kaimeite Gases 002549.SZ | China | $1.18B | -43% | -7% | -5% | 12.9× | n/a | n/a |
| Global New Material International 6616.HK | Hong Kong | $1.32B | -3% | +165% | 0% | 3.3× | n/a | n/a |
| COFCO Biotechnology 000930.SZ | China | $1.32B | -21% | -9% | -2% | 0.7× | n/a | n/a |