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Shanghai state-owned diversified chemical group spanning chlor-alkali chemicals, dyes/pigments, agrochemicals and new materials.
Shanghai state-owned diversified chemical group spanning chlor-alkali chemicals, dyes/pigments, agrochemicals and new materials.
Moat: none (scale). Diversified state-owned commodity-chemical conglomerate without a single strong product moat.
Headquarters: Shanghai, China · Employees: 13,144
Size Shanghai Huayi (600623.SS) is a China Materials company (Chemicals: Specialty) with a market value of $2.41B, the 1070th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.22 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against -12.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 5.1% over the last twelve months (peer median +7.4%).
Valuation It trades at 14.8× forward earnings against a peer median of 16.2× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -21 pp: the price already allows for a slowdown.
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥48.9B | CN¥46.4B | CN¥49.6B | CN¥41.2B | CN¥38.9B |
| Revenue growth | — | -7% | +20% | +6% | — |
| Gross profit | n/a | CN¥3.71B | CN¥4.28B | CN¥3.62B | CN¥3.58B |
| EBITDA | n/a | CN¥2.74B | CN¥3.68B | CN¥2.43B | CN¥2.45B |
| Net income | CN¥806M | CN¥555M | CN¥1.06B | CN¥861M | CN¥1.28B |
| Free cash flow | CN¥4.28B | -CN¥3.15B | -CN¥436M | CN¥1.44B | CN¥909M |
| Capital expenditure | CN¥2.89B | CN¥3.29B | CN¥4.41B | CN¥2.88B | CN¥5.08B |
| Total debt | CN¥32.5B | CN¥23.9B | CN¥25.9B | CN¥25.5B | CN¥23.0B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Huayi 600623.SS | $2.41B | -24% | +5% | n/a | 14.8× | -11.1% |
| Wanhua Chemical 600309.SS | $34.1B | -19% | +37% | 11% | 11.3× | -2.6% |
| Hubei Xingfa Chemicals 600141.SS | $4.19B | -27% | +4% | 8% | 15.3× | n/a |
| Xinjiang Zhongtai Chemical 002092.SZ | $1.57B | -41% | +7% | 3% | 25.4× | -4.2% |
| Xinjiang Tianye 600075.SS | $1.04B | -41% | -10% | -3% | n/a | n/a |
| Tangshan Sanyou Chemical Industries 600409.SS | $1.72B | -28% | +1% | 1% | 24.0× | 4.5% |
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 | 600623.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.4% | -5.7% | 9th highest of 21 |
| 6-month return | -24.4% | -12.2% | 4th lowest of 21 |
| Distance from 52-week high | -33.0% | -35.0% | 10th highest of 21 |
| Revenue growth (TTM) | +5.1% | +7.4% | 9th lowest of 21 |
| Forward P/E | 14.8× | 16.2× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -11.1% | 10.3% | least demanding of 12 |
| Growth delivered (Del g) | +10.3% | +6.6% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | -21.5 pp | +10.1 pp | 2nd least demanding of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Huayi 600623.SS | China | $2.41B | -24% | +5% | n/a | 14.8× | -11.1% | +10.3% |
| Shandong Dongyue Silicone Material 300821.SZ | China | $2.43B | -11% | +13% | 13% | n/a | 20.7% | +8.6% |
| Daicel 4202.T | Japan | $2.48B | +24% | +2% | 7% | 11.1× | 6.1% | +8.1% |
| Bloomage Biotechnology 688363.SS | China | $2.49B | -16% | -22% | 5% | 55.6× | 20.8% | +9.8% |
| Kaneka 4118.T | Japan | $2.30B | +23% | +4% | 5% | 11.6× | 4.9% | +7.0% |
| Kemira KEMIRA.HE | Finland | $2.55B | -8% | -3% | 8% | 16.0× | 3.9% | +2.6% |
| Sinochem International 600500.SS | China | $2.27B | -7% | -5% | -1% | n/a | 11.9% | -2.7% |
| Hubei Zhenhua Chemical 603067.SS | China | $2.56B | -35% | +31% | 11% | 23.6× | n/a | n/a |
| Quaker Houghton KWR | United States | $2.58B | +2% | +9% | 9% | 16.9× | 16.3% | +5.9% |
| Tinergy Chemical 002145.SZ | China | $2.23B | -15% | +17% | 9% | n/a | n/a | n/a |
| China Petroleum Engineering 600339.SS | China | $2.60B | -24% | +8% | 1% | 26.7× | n/a | n/a |
| Deepak Nitrite DEEPAKNTR.NS | India | $2.22B | -17% | +25% | 14% | 16.5× | n/a | n/a |
| Nifco 7988.T | Japan | $2.62B | +6% | +4% | 14% | 11.7× | -3.5% | +6.6% |
| Epoxy Base Electronic Material 603002.SS | China | $2.19B | -7% | +73% | 7% | 71.6× | n/a | n/a |
| Guizhou Chanhen Chemical 002895.SZ | China | $2.64B | -20% | +15% | 18% | 12.9× | 2.4% | +36.1% |
| Rogers ROG | United States | $2.17B | -13% | +7% | 10% | 26.2× | 10.3% | +0.2% |
| Zhejiang Yonghe Refrigerant 605020.SS | China | $2.17B | +5% | +25% | 18% | 13.3× | n/a | n/a |
| K+s SDF.DE | Germany | $2.68B | -13% | +6% | 34% | 11.7× | n/a | n/a |
| SKC 011790.KS | South Korea | $2.14B | -46% | +24% | -9% | n/a | n/a | n/a |
| Shaanxi Beiyuan Chemical Industry 601568.SS | China | $2.11B | -9% | -8% | -4% | 11.8× | 11.8% | -1.8% |
| PI Industries PIIND.NS | India | $2.79B | -44% | -15% | 13% | 22.7× | n/a | n/a |