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Guangzhou maker of electronic-grade epoxy resin, copper-clad laminates and prepregs sold to printed-circuit-board makers.
Guangzhou maker of electronic-grade epoxy resin, copper-clad laminates and prepregs sold to printed-circuit-board makers.
Sells electronic-grade epoxy resin and, increasingly, copper-clad laminates and prepregs to board makers, earning a spread over raw-material costs such as copper foil, glass cloth and resin feedstock. Laminates now carry most profit, so the mix shift toward high-speed grades for servers drives results.
Moat: narrow (process know-how, customer qualification). Integrated resin-to-laminate chain and qualified high-speed grades that PCB customers are slow to switch.
Headquarters: Guangzhou, China · Founded: 1995 · Employees: 839
Size Epoxy Base Electronic Material (603002.SS) is a China Materials company (Chemicals: Specialty) with a market value of $2.19B, the 1162nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.88 on 6 Nov 2026.
Performance Over six months the shares fell 6.8%, against -14.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 72.9% over the last twelve months (peer median +5.1%); the operating margin is 7.4% (peer median 7.3%).
Valuation It trades at 71.6× forward earnings against a peer median of 13.3× (most expensive of 16).
Capital Return on invested capital runs 4.5 points below its cost of capital (11.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.61B | CN¥3.08B | CN¥2.14B | CN¥2.24B | CN¥3.02B |
| Revenue growth | — | +44% | -4% | -26% | — |
| Gross profit | CN¥656M | CN¥164M | CN¥135M | CN¥175M | CN¥265M |
| EBITDA | n/a | CN¥104M | CN¥75.6M | CN¥125M | CN¥193M |
| Net income | CN¥267M | CN¥35.4M | CN¥50.6M | CN¥86.6M | CN¥557M |
| Free cash flow | -CN¥341M | -CN¥523M | -CN¥505M | CN¥37.0M | -CN¥83.0M |
| Capital expenditure | CN¥269M | CN¥542M | CN¥581M | CN¥251M | CN¥134M |
| Total debt | CN¥2.58B | CN¥1.60B | CN¥779M | CN¥1.07B | CN¥731M |
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 |
|---|---|---|---|---|---|---|
| Epoxy Base Electronic Material 603002.SS | $2.19B | -7% | +73% | 7% | 71.6× | n/a |
| Shengyi Technology 600183.SS | $25.7B | -8% | +56% | 22% | 20.3× | 20.5% |
| Nan Ya Plastic 1303.TW | $57.4B | +155% | +6% | 6% | 11.5× | n/a |
| Kingboard Laminates 1888.HK | $12.2B | -26% | +32% | 21% | 10.8× | n/a |
| Elite Material 2383.TW | $41.4B | -19% | +89% | 26% | 15.8× | n/a |
| Zhejiang Wazam New Material 603186.SS | $3.33B | +79% | +60% | 14% | 58.0× | 24.9% |
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 | 603002.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -31.1% | -7.7% | 3rd lowest of 21 |
| 6-month return | -6.8% | -14.8% | 6th highest of 20 |
| Distance from 52-week high | -53.1% | -35.3% | 8th lowest of 21 |
| Revenue growth (TTM) | +72.9% | +5.1% | highest of 20 |
| Operating margin | 7.4% | 7.3% | 10th highest of 20 |
| Forward P/E | 71.6× | 13.3× | most expensive of 16 |
| ROIC minus cost of capital | -4.5 pp | -2.4 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Epoxy Base Electronic Material 603002.SS | China | $2.19B | -7% | +73% | 7% | 71.6× | n/a | n/a |
| 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 |
| Deepak Nitrite DEEPAKNTR.NS | India | $2.22B | -17% | +25% | 14% | 16.5× | n/a | n/a |
| Tinergy Chemical 002145.SZ | China | $2.23B | -15% | +17% | 9% | n/a | n/a | n/a |
| SKC 011790.KS | South Korea | $2.14B | -46% | +24% | -9% | n/a | n/a | n/a |
| Sinochem International 600500.SS | China | $2.27B | -7% | -5% | -1% | n/a | 11.9% | -2.7% |
| Shaanxi Beiyuan Chemical Industry 601568.SS | China | $2.11B | -9% | -8% | -4% | 11.8× | 11.8% | -1.8% |
| Kaneka 4118.T | Japan | $2.30B | +23% | +4% | 5% | 11.6× | 4.9% | +7.0% |
| Ningbo Ronbay New Energy Technology 688005.SS | China | $2.05B | -45% | +41% | 1% | 37.8× | n/a | n/a |
| Dongyue 0189.HK | Hong Kong | $2.04B | -28% | +8% | 19% | 5.6× | -12.4% | +6.6% |
| 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% |
| Ube 4208.T | Japan | $1.94B | +33% | +3% | 4% | 12.0× | n/a | n/a |
| 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% |
| Chemours CC | United States | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% | +3.2% |
| Guangdong Huate Gas 688268.SS | China | $1.92B | -47% | +27% | 13% | 56.1× | 35.6% | +7.2% |
| Minerals Technologies MTX | United States | $1.91B | -22% | +5% | 13% | 9.8× | 0.5% | +5.4% |
| Lily 603823.SS | China | $1.91B | +85% | +2% | 10% | 58.1× | 27.9% | +1.4% |
| Standard Nuclear STDN | United States | $1.90B | n/a | n/a | -288% | n/a | n/a | n/a |