Shanghai diversified group spanning pharmaceutical manufacturing, industrial-park property leasing, plush-fabric textiles and financial investment.
Shanghai diversified group spanning pharmaceutical manufacturing, industrial-park property leasing, plush-fabric textiles and financial investment.
Moat: none. Diversified conglomerate spanning unrelated pharma, property and textile businesses.
Headquarters: Shanghai, China · Founded: 1993 · Employees: 675
Size Shanghai Haixin (600851.SS) is a China Consumer Discretionary company (Textiles) with a market value of $1.08B, the 2159th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.70 on 6 Nov 2026.
Performance Over six months the shares gained 4.4%, against -12.3% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 14.7% over the last twelve months (peer median -0.1%); the operating margin is 7.3% (peer median 5.1%).
Valuation It trades at 10.0× enterprise value to sales against a peer median of 1.4× (most expensive of 21).
Capital Return on invested capital runs 6.5 points below its cost of capital (7.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥641M | CN¥750M | CN¥752M | CN¥1.16B | CN¥1.43B |
| Revenue growth | — | 0% | -35% | -19% | — |
| Gross profit | CN¥407M | CN¥430M | CN¥397M | CN¥521M | CN¥644M |
| EBITDA | n/a | CN¥65.1M | CN¥44.8M | CN¥71.9M | CN¥37.4M |
| Net income | CN¥191M | CN¥176M | CN¥151M | CN¥166M | CN¥164M |
| Free cash flow | -CN¥155M | CN¥89.2M | CN¥149M | CN¥1.06M | CN¥242M |
| Capital expenditure | CN¥65.8M | CN¥117M | CN¥29.7M | CN¥61.8M | CN¥15.9M |
| Total debt | CN¥115M | CN¥110M | CN¥37.6M | CN¥37.1M | CN¥28.4M |
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| Measure | 600851.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.6% | -3.5% | 2nd highest of 21 |
| 6-month return | +4.4% | -12.3% | 6th highest of 21 |
| Distance from 52-week high | -18.6% | -33.9% | 7th highest of 21 |
| Revenue growth (TTM) | -14.7% | -0.1% | 3rd lowest of 21 |
| Operating margin | 7.3% | 5.1% | 9th highest of 21 |
| EV / Sales | 10.0× | 1.4× | most expensive of 21 |
| ROIC minus cost of capital | -6.5 pp | -2.0 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Haixin 600851.SS | China | $1.08B | +4% | -15% | 7% | 10.0× | n/a | n/a |
| Zhejiang Taihua New Material 603055.SS | China | $1.09B | -9% | +3% | 10% | 1.7× | -5.0% | +20.7% |
| Seiren 3569.T | Japan | $1.07B | -1% | +12% | 12% | 0.7× | -4.9% | +11.7% |
| Huafon Microfibre (Shanghai) 300180.SZ | China | $1.06B | -24% | -6% | -1% | 2.0× | 16.2% | +4.4% |
| Kurabo Industries 3106.T | Japan | $1.10B | +33% | -3% | 7% | 1.1× | 8.2% | +3.3% |
| Nanjing Chemical Fibre 600889.SS | China | $1.03B | -24% | +115% | 5% | 8.4× | 35.4% | -3.9% |
| Zhejiang Hangmin 600987.SS | China | $1.02B | -6% | -23% | 8% | 0.4× | n/a | n/a |
| Sunvim 002083.SZ | China | $1.16B | -20% | +19% | 17% | 1.5× | -12.1% | +3.3% |
| Shenzhen Fuanna Bedding & Furnishing 002327.SZ | China | $951M | -26% | -5% | 12% | 2.4× | -1.3% | -2.1% |
| Hyosung Tnc 298020.KS | South Korea | $911M | -45% | +8% | 5% | 0.1× | n/a | n/a |
| Zhejiang Xinao Textiles 603889.SS | China | $908M | -5% | +20% | 13% | 1.4× | n/a | n/a |
| Formosa Taffeta 1434.TW | Taiwan | $888M | +9% | -7% | 2% | 1.3× | 19.9% | -0.9% |
| Zhewen Pictures 601599.SS | China | $884M | +37% | +4% | 1% | 1.8× | 46.4% | +13.9% |
| Zhejiang Yunzhongma 603130.SS | China | $867M | -8% | +4% | 4% | 2.4× | 21.1% | +18.8% |
| Jiangsu Sanfame Polyester Material 600370.SS | China | $857M | -44% | -13% | -3% | 0.7× | n/a | n/a |
| Shanghai Anoky 300067.SZ | China | $853M | -29% | +36% | 3% | 4.8× | n/a | n/a |
| Zhejiang Hailide New Material 002206.SZ | China | $845M | -18% | -7% | 11% | 1.3× | -2.2% | +10.7% |
| Shanxi Guoxin Energy Corporation Limited 600617.SS | China | $838M | -16% | -9% | 3% | 1.4× | 0.8% | +4.5% |
| Huafu Fashion 002042.SZ | China | $822M | -31% | -23% | 2% | 1.3× | 15.1% | -10.8% |
| Xingye Leather Technology 002674.SZ | China | $807M | +35% | +7% | 8% | 1.9× | 14.3% | +15.4% |
| Gunze 3002.T | Japan | $797M | +17% | -4% | 5% | 1.1× | 10.5% | +1.1% |