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Chinese maker of halogen-free phosphorus flame retardants and other specialty chemicals, including organic amines and coating additives.
Chinese maker of halogen-free phosphorus flame retardants and other specialty chemicals, including organic amines and coating additives.
Sells flame-retardant chemicals, mostly phosphorus-based and halogen-free, that makers of engineering plastics and polyurethane foam add to meet fire-safety rules, and the company is among the world's larger suppliers. New domestic capacity has pressured the segment, so it also sells organic amines, coating additives and intermediates.
Moat: narrow (scale, process know-how). Among the world's main phosphorus flame-retardant producers, though new domestic capacity has squeezed the segment.
Headquarters: Linhai, China · Employees: 2,074
Size Zhejiang Wansheng (603010.SS) is a China Materials company (Chemicals: Specialty) with a market value of $872M, the 2575th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.71 on 6 Nov 2026.
Performance Over six months the shares fell 25.4%, against -23.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 19.3% over the last twelve months (peer median +5.7%); the operating margin is -25.5% (peer median 5.7%).
Valuation It trades at 2.17× book value against a peer median of 2.32× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 23.6%; Zhejiang Wansheng delivers -33.8%, so the price asks more than the business earns today.
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.96B | CN¥3.37B | CN¥2.95B | CN¥2.84B | CN¥3.55B |
| Revenue growth | — | +14% | +4% | -20% | — |
| Gross profit | CN¥728M | CN¥527M | CN¥483M | CN¥487M | CN¥724M |
| EBITDA | n/a | CN¥341M | CN¥342M | CN¥343M | CN¥525M |
| Net income | -CN¥1.04B | -CN¥960M | CN¥103M | CN¥184M | CN¥365M |
| Free cash flow | -CN¥267M | -CN¥192M | -CN¥38.6M | -CN¥351M | -CN¥570M |
| Capital expenditure | CN¥356M | CN¥496M | CN¥420M | CN¥981M | CN¥1.08B |
| Total debt | CN¥2.40B | CN¥2.33B | CN¥2.11B | CN¥1.13B | CN¥1.13B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Wansheng 603010.SS | $872M | -25% | +19% | -34% | 2.17× | 23.6% |
| ICL ICL | $6.04B | -27% | +11% | 5% | 0.98× | 9.7% |
| Lanxess LXS.DE | $1.27B | -30% | -10% | -18% | 0.33× | 5.0% |
| Albemarle ALB | $11.7B | -51% | +18% | 2% | 1.46× | 15.5% |
| Yangzhou Chenhua New Material 300610.SZ | n/a | -25% | n/a | n/a | n/a | 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 | 603010.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.3% | -14.3% | 3rd lowest of 21 |
| 6-month return | -25.4% | -23.6% | 10th lowest of 21 |
| Return on equity | -33.8% | 1.8% | lowest of 21 |
| Price / book | 2.17× | 2.32× | 10th cheapest of 21 |
| ROE the price implies | 23.6% | 20.4% | 9th most demanding of 21 |
| ROE delivered | -33.8% | 0.8% | lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Wansheng 603010.SS | China | $872M | -25% | +19% | -34% | 2.17× | 23.6% | -33.8% |
| Hanking Gold International 3788.HK | Hong Kong | $862M | -26% | -19% | 1% | 2.25× | 15.8% | 0.6% |
| Kronos Worldwide KRO | United States | $859M | +46% | +3% | -14% | 1.14× | 11.3% | -13.7% |
| Daqo New Energy Corp Sponsored ADR DQ | United States | $856M | -32% | -21% | -5% | 0.20× | 3.9% | -5.3% |
| Shandong Head 002810.SZ | China | $855M | -38% | +16% | 12% | 2.41× | 21.9% | 12.2% |
| TETRA Technologies TTI | United States | $891M | -39% | +6% | 3% | 2.14× | 20.9% | 2.8% |
| Sudarshan Chemical Industries SUDARSCHEM.NS | India | $893M | +10% | +90% | 1% | 2.43× | 32.1% | n/a |
| Kingfa Science & Technology (India) KINGFA.NS | India | $849M | +20% | +24% | 17% | 5.74× | 78.6% | n/a |
| Alkyl Amines Chemicals ALKYLAMINE.NS | India | $849M | -9% | +13% | 16% | 4.90× | 73.5% | 16.0% |
| Sinosteel New Materials 002057.SZ | China | $849M | -22% | +13% | 6% | 1.70× | 18.6% | 6.1% |
| Boai NKY Medical 300109.SZ | China | $896M | -32% | -17% | 3% | 1.78× | 18.2% | 3.5% |
| Henan Jindan Lactic Acid Technology 300829.SZ | China | $900M | +52% | +5% | 3% | 2.39× | 15.8% | 2.7% |
| Fujian Yuanli Active Carbon 300174.SZ | China | $840M | -14% | +7% | 6% | 1.55× | 15.9% | 6.0% |
| Longkou Union Chemical 301209.SZ | China | $904M | -39% | -3% | 1% | 8.12× | 46.0% | 0.8% |
| Sichuan Xinjinlu 000510.SZ | China | $906M | -32% | -4% | -25% | 6.49× | 62.3% | -25.3% |
| Shenzhen Wote Advanced Materials 002886.SZ | China | $906M | -15% | +10% | 4% | 2.67× | 33.5% | 4.1% |
| China Petrochemical Development 1314.TW | Taiwan | $833M | -1% | -35% | -4% | 0.37× | 2.1% | -3.9% |
| HuBei NengTer Technology 002102.SZ | China | $832M | -12% | -59% | 0% | 1.78× | 10.3% | -0.1% |
| Guangzhou Human New Material Science & Technology 301683.SZ | China | $918M | -25% | +20% | 19% | 2.53× | 28.3% | n/a |
| Shanxi Lu'an Chemical Technology 600691.SS | China | $827M | -31% | -14% | -18% | 1.83× | 19.8% | -18.3% |
| Changzhou Tronly New Electronic Materials 300429.SZ | China | $923M | -37% | +14% | -11% | 2.56× | 28.6% | -10.6% |