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Guangdong maker of electronic foil, electrode foil and aluminium electrolytic capacitors, plus high-end aluminium foil and chemical materials.
Guangdong maker of electronic foil, electrode foil and aluminium electrolytic capacitors, plus high-end aluminium foil and chemical materials.
Earns most of its income from the foil-to-capacitor chain: aluminium foil is etched and formed into electrode foil, which goes into aluminium electrolytic capacitors, with high-end aluminium foil and chemical materials as other lines. Liquid cooling and energy materials are newer additions. Shenzhen Dongyangguang Industrial is the controlling shareholder.
Moat: narrow (process know-how, scale). Integrated chain from electronic foil to electrode foil to capacitors with etching know-how; capacitor demand is cyclical.
Headquarters: Shaoguan, China · Employees: 9,297
Size Guangdong HEC Technology (600673.SS) is a China Materials company (Aluminum) with a market value of $10.4B, the 240th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥22.94 on 6 Nov 2026.
Performance Over six months the shares fell 35.2%, against -25.3% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 17 in its peer set.
Growth Revenue grew 30.4% over the last twelve months (peer median +11.9%); the operating margin is 6.4% (peer median 15.7%).
Valuation It trades at 6.69× book value against a peer median of 1.68× (2nd most expensive of 18).
Price implies The share price implies a return on equity of about 81.4%; Guangdong HEC Technology delivers 0.1%, so the price asks more than the business earns today.
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥18.6B | CN¥14.9B | CN¥12.2B | CN¥10.8B | CN¥11.7B |
| Revenue growth | — | +22% | +12% | -7% | — |
| Gross profit | CN¥4.31B | CN¥2.79B | CN¥1.63B | CN¥1.04B | CN¥2.21B |
| EBITDA | n/a | CN¥2.05B | CN¥1.24B | CN¥508M | CN¥1.90B |
| Net income | CN¥7.72M | CN¥275M | CN¥375M | -CN¥294M | CN¥1.24B |
| Free cash flow | -CN¥11.0B | CN¥11.7M | -CN¥493M | -CN¥1.19B | -CN¥180M |
| Capital expenditure | CN¥24.3B | CN¥1.41B | CN¥1.14B | CN¥1.60B | CN¥1.44B |
| Total debt | CN¥20.3B | CN¥16.1B | CN¥12.3B | CN¥12.1B | CN¥11.4B |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Guangdong HEC Technology 600673.SS | $10.4B | -35% | +30% | 0% | 6.69× | 81.4% |
| Xinjiang Joinworld 600888.SS | $2.07B | +3% | +21% | 8% | 1.04× | 9.4% |
| Nantong Jianghai Capacitor 002484.SZ | $4.28B | -15% | +17% | 12% | 4.01× | 41.5% |
| Nantong Haixing Electronics 603115.SS | $1.62B | -22% | +21% | 10% | 4.97× | 48.4% |
| Nichicon 6996.T | $758M | -27% | 0% | 6% | 0.95× | 12.7% |
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 | 600673.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.9% | -4.6% | lowest of 18 |
| 6-month return | -35.2% | -25.3% | 5th lowest of 17 |
| Return on equity | 0.1% | 24.1% | lowest of 17 |
| Price / book | 6.69× | 1.68× | 2nd most expensive of 18 |
| ROE the price implies | 81.4% | 13.9% | 2nd most demanding of 18 |
| ROE delivered | 0.1% | 25.6% | lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Guangdong HEC Technology 600673.SS | China | $10.4B | -35% | +30% | 0% | 6.69× | 81.4% | 0.1% |
| Alcoa AA | United States | $10.4B | -37% | +10% | 21% | 1.27× | 17.0% | 21.1% |
| Vedanta VEDL.NS | India | $10.8B | -14% | -37% | 37% | 8.01× | 87.4% | 36.6% |
| Inner Mongolia Dian Tou Energy 002128.SZ | China | $12.1B | -16% | +47% | 15% | 1.46× | 8.1% | n/a |
| Henan Shenhuo Coal Industary and Electricity Power 000933.SZ | China | $8.45B | -21% | +17% | 29% | 1.86× | 13.9% | 29.5% |
| Yunnan Aluminium 000807.SZ | China | $12.8B | -23% | +16% | 36% | 2.02× | 15.7% | 35.7% |
| Tianshan Aluminum 002532.SZ | China | $8.36B | -28% | +17% | 26% | 1.68× | 12.4% | 25.6% |
| Shandong Nanshan Aluminium 600219.SS | China | $7.53B | -19% | +4% | 9% | 1.05× | 8.4% | 8.7% |
| Norsk Hydro NHY.OL | Norway | $14.4B | -34% | -4% | 12% | 1.26× | 13.1% | 12.4% |
| Vedanta Aluminium Metal VAML.NS | India | $15.6B | n/a | n/a | n/a | 6.38× | 43.5% | n/a |
| National Aluminium NATIONALUM.NS | India | $6.33B | -19% | +14% | 32% | 2.40× | 27.7% | 32.0% |
| United Company RUSAL international PJSC 0486.HK | Hong Kong | $4.26B | -34% | -4% | 0% | 0.44× | 5.4% | 0.3% |
| Chinahongqiao 1378.HK | Hong Kong | $25.5B | -36% | +7% | 23% | 1.31× | 12.6% | 22.5% |
| Henan Zhongfu Industrial 600595.SS | China | $3.36B | -28% | +24% | 19% | 1.16× | 9.3% | 18.7% |
| Century Aluminum CENX | United States | $3.31B | -43% | +10% | 57% | 2.36× | 33.1% | 56.7% |
| Grupa Kety KTY.WA | Poland | $3.15B | +11% | +8% | 34% | 5.76× | 46.5% | 34.5% |
| Constellium CSTM | United States | $2.93B | -36% | +26% | 53% | 2.20× | 25.0% | 52.7% |
| Henan Mingtai Aluminum Industrial 601677.SS | China | $2.70B | -17% | +19% | 12% | 0.87× | 8.4% | 12.5% |