Loading…
Dalian-based state-controlled group with a human-vaccine maker, pharmacy chain, commodity trading and a stake in GF Securities.
Dalian-based state-controlled group with a human-vaccine maker, pharmacy chain, commodity trading and a stake in GF Securities.
Profit rests on three legs: human vaccines made by listed subsidiary Chengda Biotech (rabies and Japanese encephalitis), equity income from its associate stake in GF Securities, and commodity and textile trading plus a pharmacy and wholesale unit. Results swing with securities-market conditions and vaccine demand.
Moat: narrow (regulatory licence, process know-how). Vaccine licences and production know-how at Chengda Biotech; trading and pharmacy units have little edge.
Headquarters: Dalian, China · Founded: 1993 · Employees: 2,740
Size Liaoning Cheng Da (600739.SS) is a China Industrials company (Air Freight/Couriers) with a market value of $2.29B, the 1113th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.01 on 6 Nov 2026.
Performance Over six months the shares fell 15.9%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue fell 26.6% over the last twelve months (peer median +6.9%); the operating margin is -16.6% (peer median 4.2%).
Valuation It trades at 3.1× enterprise value to sales against a peer median of 1.2× (2nd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +14 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 9.0 points below its cost of capital (7.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.17B | CN¥9.89B | CN¥10.8B | CN¥10.7B | CN¥14.6B |
| Revenue growth | — | -8% | 0% | -26% | — |
| Gross profit | CN¥1.45B | CN¥1.12B | CN¥1.36B | CN¥1.68B | CN¥2.55B |
| EBITDA | n/a | -CN¥288M | CN¥375M | CN¥263M | CN¥1.58B |
| Net income | CN¥1.57B | CN¥737M | CN¥210M | CN¥233M | CN¥1.22B |
| Free cash flow | CN¥1.30B | CN¥696M | CN¥730M | -CN¥56.1M | CN¥1.56B |
| Capital expenditure | CN¥203M | CN¥341M | CN¥455M | CN¥703M | CN¥647M |
| Total debt | CN¥14.9B | CN¥15.1B | CN¥14.3B | CN¥14.0B | CN¥14.6B |
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 |
|---|---|---|---|---|---|---|
| Liaoning Cheng Da 600739.SS | $2.29B | -16% | -27% | -17% | 3.1× | 4.4% |
| Chongqing Zhifei Biological Products 300122.SZ | $5.35B | -2% | -28% | -210% | 5.4× | -6.4% |
| Walvax Biotechnology 300142.SZ | $2.71B | -12% | -23% | 5% | 10.3× | 31.3% |
| Changchun BCHT Biotechnology 688276.SS | $1.00B | -11% | +2% | -29% | 10.0× | n/a |
| Hualan Biological Engineering 002007.SZ | $3.37B | -15% | -11% | 17% | 5.6× | 16.7% |
| Yifeng Pharmacy Chain 603939.SS | $4.91B | +17% | +5% | 10% | 1.3× | -9.2% |
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 | 600739.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.2% | -2.8% | 8th highest of 21 |
| 6-month return | -15.9% | -10.8% | 5th lowest of 21 |
| Distance from 52-week high | -23.4% | -24.4% | 10th highest of 21 |
| Revenue growth (TTM) | -26.6% | +6.9% | lowest of 20 |
| Operating margin | -16.6% | 4.2% | lowest of 19 |
| EV / Sales | 3.1× | 1.2× | 2nd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | 2.2% | 5th most demanding of 13 |
| Growth delivered (Del g) | -10.1% | +8.1% | lowest of 13 |
| Hurdle (Req g minus delivered) | +14.5 pp | -6.3 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -9.0 pp | -2.5 pp | 3rd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Liaoning Cheng Da 600739.SS | China | $2.29B | -16% | -27% | -17% | 3.1× | 4.4% | -10.1% |
| China Railway Special Cargo Logistics 001213.SZ | China | $2.35B | -11% | -3% | 3% | 1.2× | 2.1% | +7.2% |
| Jiayou International Logistics 603871.SS | China | $2.41B | -8% | -10% | 19% | 1.8× | -7.9% | +20.7% |
| SENKO 9069.T | Japan | $2.45B | +23% | +7% | 4% | 0.8× | 4.4% | +9.5% |
| Mitsubishi Logistics 9301.T | Japan | $2.67B | -15% | -1% | 6% | 1.8× | n/a | n/a |
| Yunda 002120.SZ | China | $2.74B | -20% | +7% | 4% | 0.3× | -13.2% | +9.0% |
| ID Logistics IDL.PA | France | $2.80B | +7% | +16% | 4% | 1.0× | 10.4% | +17.9% |
| Aegis Vopak Terminals AEGISVOPAK.NS | India | $2.89B | +14% | +17% | 53% | 33.1× | n/a | n/a |
| Xiamen International Trade 600755.SS | China | $1.77B | -10% | +28% | 0% | 0.2× | n/a | n/a |
| Huaihe Energy 600575.SS | China | $3.38B | -12% | +38% | n/a | 1.2× | n/a | n/a |
| Delhivery DELHIVERY.NS | India | $3.40B | -11% | +24% | 0% | 2.6× | n/a | n/a |
| Fukuyama Transporting 9075.T | Japan | $1.51B | +18% | +6% | 4% | 1.0× | 12.0% | +2.2% |
| CMST Development 600787.SS | China | $1.49B | -12% | +23% | 0% | 0.1× | n/a | n/a |
| Hub HUBG | United States | $1.48B | -44% | n/a | n/a | n/a | n/a | n/a |
| Eternal Asia Supply Chain Management 002183.SZ | China | $1.48B | -32% | -25% | 0% | 0.6× | 29.9% | 0.0% |
| Xiamen C&D 600153.SS | China | $3.77B | -8% | -6% | 1% | 0.5× | 21.2% | +9.3% |
| Antong 600179.SS | China | $3.81B | -7% | +9% | 16% | 2.1× | -4.0% | +13.5% |
| COSCO SHIPPING International (Hong Kong) 0517.HK | Hong Kong | $1.32B | +8% | +1% | 5% | 1.2× | 2.3% | +1.5% |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 2.1× | -14.4% | +0.4% |
| KLN Logistics 0636.HK | Hong Kong | $1.30B | -15% | -2% | 4% | 0.3× | -10.4% | +2.6% |
| Shipping Corporation of India SCI.NS | India | $1.29B | -18% | +17% | 24% | 1.9× | n/a | n/a |