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Chinese oil & gas exploration and production company that acquired producing oilfields in the US and China.
Chinese oil & gas exploration and production company that acquired producing oilfields in the US and China.
Sells crude oil at prevailing market prices to refiners and traders, so income swings with oil prices and with output from a small set of fields it bought rather than found. It is a minor producer with assets in the US and China and no say over the price it receives.
In one line: A small-cap Chinese independent E&P with US shale/conventional assets.
Moat: none. Small independent E&P with no cost or scale advantage over larger producers.
Headquarters: Dongying, Shandong, China · Employees: 223
Size Shandong Xinchao Energy (600777.SS) is a China Energy company (Integrated Oil) with a market value of $3.97B, the 645th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.97 on 6 Nov 2026.
Performance Over six months the shares fell 33.4%, against -7.6% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 15.5% over the last twelve months (peer median +12.2%); the operating margin is 12.5% (peer median 30.6%).
Valuation It trades at 4.2× enterprise value to sales against a peer median of 2.2× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.5 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.32B | CN¥7.27B | CN¥8.36B | CN¥8.35B | CN¥8.77B |
| Revenue growth | — | -13% | 0% | -5% | — |
| Gross profit | CN¥4.65B | CN¥2.80B | CN¥4.06B | CN¥4.28B | CN¥5.52B |
| EBITDA | n/a | CN¥5.47B | CN¥6.36B | CN¥6.85B | CN¥7.47B |
| Net income | CN¥486M | CN¥1.21B | CN¥2.04B | CN¥2.60B | CN¥3.13B |
| Free cash flow | CN¥1.35B | CN¥1.06B | CN¥3.82B | CN¥2.58B | CN¥4.22B |
| Capital expenditure | CN¥2.53B | CN¥3.80B | CN¥3.41B | CN¥4.58B | CN¥3.65B |
| Total debt | CN¥5.17B | CN¥5.55B | CN¥5.53B | CN¥7.29B | CN¥8.02B |
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 |
|---|---|---|---|---|---|---|
| Shandong Xinchao Energy 600777.SS | $3.97B | -33% | -15% | 13% | 4.2× | -10.0% |
| Geo-Jade Petroleum 600759.SS | $1.33B | -54% | +42% | 30% | 4.1× | -0.7% |
| PetroChina 601857.SS | $336B | +4% | -3% | 9% | 1.0× | -5.1% |
| Cnooc 0883.HK | $148B | -9% | +11% | 46% | 1.8× | n/a |
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 | 600777.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.0% | -8.2% | 6th highest of 21 |
| 6-month return | -33.4% | -7.6% | 2nd lowest of 21 |
| Distance from 52-week high | -38.1% | -24.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | -15.5% | +12.2% | 3rd lowest of 21 |
| Operating margin | 12.5% | 30.6% | 4th lowest of 21 |
| EV / Sales | 4.2× | 2.2× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -10.0% | -6.2% | 6th least demanding of 18 |
| Growth delivered (Del g) | +13.1% | +16.2% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | -23.1 pp | -24.9 pp | 7th most demanding of 18 |
| ROIC minus cost of capital | +6.5 pp | +5.9 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Xinchao Energy 600777.SS | China | $3.97B | -33% | -15% | 13% | 4.2× | -10.0% | +13.1% |
| Athabasca Oil ATH.TO | Canada | $3.92B | +1% | +3% | 31% | 4.0× | -5.3% | +23.4% |
| Tamarack Valley Energy TVE.TO | Canada | $3.83B | -7% | +11% | 48% | 3.4× | -5.6% | +46.8% |
| California Resources CRC | United States | $4.15B | -20% | +12% | 24% | 1.4× | -8.3% | +16.2% |
| Peyto Exploration & Development PEY.TO | Canada | $3.54B | -5% | +26% | 40% | 5.0× | -2.1% | +22.8% |
| Crescent Energy CRGY | United States | $4.74B | -10% | +34% | 30% | 2.0× | -9.4% | +36.5% |
| Paramount Resources POU.TO | Canada | $3.26B | +6% | -28% | 10% | 3.9× | n/a | n/a |
| Baytex Energy BTE.TO | Canada | $2.95B | -11% | -8% | 15% | 2.4× | 4.7% | +12.8% |
| Ithaca Energy ITH.L | United Kingdom | $5.52B | -9% | +28% | 41% | 1.9× | -7.0% | +1.4% |
| Strathcona Resources SCR.TO | Canada | $5.56B | -14% | -9% | 26% | 2.4× | -2.7% | +95.6% |
| Hess Midstream LP HESM | United States | $6.18B | -22% | -1% | 63% | 3.9× | -16.3% | +8.2% |
| Matador Resources MTDR | United States | $6.24B | -9% | +13% | 39% | 2.7× | n/a | n/a |
| CNOOC Energy Technology & Services 600968.SS | China | $6.25B | -7% | -1% | 9% | 0.7× | -14.2% | +8.7% |
| Guanghui Energy 600256.SS | China | $6.47B | 0% | -5% | 18% | 1.8× | -11.4% | +14.9% |
| Japan Petroleum Exploration 1662.T | Japan | $2.36B | -36% | -16% | 9% | 1.1× | -5.6% | +7.2% |
| National Fuel Gas NFG | United States | $6.98B | -8% | +13% | 37% | 3.9× | -6.2% | +9.1% |
| SM Energy SM | United States | $7.12B | +2% | +100% | 38% | 2.0× | -13.6% | +22.9% |
| DNO DNO.OL | Norway | $2.13B | +6% | +128% | 48% | 0.9× | n/a | n/a |
| Chord Energy CHRD | United States | $7.47B | 0% | +19% | 19% | 1.3× | -13.4% | +38.6% |
| Oil India OIL.NS | India | $7.60B | -2% | +20% | 29% | 1.8× | -1.1% | +13.7% |
| Headwater Exploration HWX.TO | Canada | $1.95B | -10% | +13% | 44% | 4.5× | 3.0% | +125.4% |