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Chinese producer of organosilicon/silicone chemical products (name-derived; specifics not fully confirmed).
Chinese producer of organosilicon/silicone chemical products (name-derived; specifics not fully confirmed).
Moat: none
Headquarters: China · Employees: 398
Size Xinyaqiang Silicon Chemistry (603155.SS) is a China Materials company (Chemicals: Major Diversified) with a market value of $788M, the 2802nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.48 on 6 Nov 2026.
Performance Over six months the shares fell 5.8%, against -24.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +7.6%); the operating margin is 10.4% (peer median 9.1%).
Valuation It trades at 37.0× forward earnings against a peer median of 18.6× (3rd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +27 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 3.5 points below its cost of capital (8.6% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥678M | CN¥589M | CN¥714M | CN¥667M | CN¥1.13B |
| Revenue growth | — | -18% | +7% | -41% | — |
| Gross profit | CN¥139M | CN¥106M | CN¥129M | CN¥144M | CN¥333M |
| EBITDA | CN¥118M | CN¥87.4M | CN¥120M | CN¥126M | CN¥323M |
| Net income | CN¥95.1M | CN¥81.9M | CN¥114M | CN¥123M | CN¥302M |
| Free cash flow | CN¥106M | CN¥51.8M | CN¥186M | CN¥166M | CN¥110M |
| Capital expenditure | CN¥40.7M | CN¥30.4M | CN¥18.1M | CN¥50.7M | CN¥230M |
| Total debt | CN¥128M | CN¥40.8M | CN¥118M | CN¥110M | CN¥201M |
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| Measure | 603155.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.2% | -14.1% | 8th lowest of 21 |
| 6-month return | -5.8% | -24.8% | 6th highest of 21 |
| Distance from 52-week high | -46.3% | -40.2% | 8th lowest of 21 |
| Revenue growth (TTM) | +5.8% | +7.6% | 10th lowest of 21 |
| Operating margin | 10.4% | 9.1% | 9th highest of 21 |
| Forward P/E | 37.0× | 18.6× | 3rd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 31.1% | 17.7% | 3rd most demanding of 12 |
| Growth delivered (Del g) | +3.9% | +8.3% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | +27.2 pp | -0.6 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | -3.5 pp | -3.0 pp | 11th highest of 21 |
| EV / EBITDA | 33.9× | 10.6× | 2nd most expensive of 7 |
| Net debt / EBITDA | -10.9× | -0.7× | least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xinyaqiang Silicon Chemistry 603155.SS | China | $788M | -6% | +6% | 10% | 37.0× | 31.1% | +3.9% |
| Hubei Chaozhuo Aviation Technology 688237.SS | China | $776M | +6% | -1% | 1% | 41.5× | 45.3% | +26.0% |
| Daxin Materials 5234.TW | Taiwan | $767M | -42% | +10% | 19% | 25.7× | 17.7% | +1.5% |
| JCU 4975.T | Japan | $759M | -26% | +2% | 40% | 13.6× | 6.3% | +7.0% |
| Jiangxi Hungpai New Material 605366.SS | China | $821M | -47% | +2% | -11% | 236.0× | n/a | n/a |
| Sanyo Chemical Industries 4471.T | Japan | $823M | +24% | 0% | 10% | 10.5× | -5.1% | -2.5% |
| Polyrocks Chemical 688669.SS | China | $831M | +40% | -8% | -6% | n/a | 35.9% | +15.2% |
| KH Neochem 4189.T | Japan | $732M | +20% | -11% | 12% | 12.3× | -5.7% | +8.3% |
| Raghav Productivity Enhancers RPEL.NS | India | $864M | +133% | +38% | 28% | n/a | n/a | n/a |
| Suzhou Highfine Biotech 301393.SZ | China | $865M | -8% | +36% | 17% | 32.3× | n/a | n/a |
| Liaoning Oxiranchem,Inc 300082.SZ | China | $716M | -39% | +4% | 0% | 35.1× | n/a | n/a |
| Guangzhou Sanfu Newmaterials Technology 688359.SS | China | $870M | -41% | +8% | -7% | n/a | n/a | n/a |
| Jiansu Huachang Chemical 002274.SZ | China | $679M | -25% | +9% | -3% | 5.7× | 23.6% | +1.3% |
| Ningxia Zhongke Biotechnology 600165.SS | China | $679M | -19% | +8% | -73% | n/a | n/a | n/a |
| Shandong Sanyuan Biotechnology 301206.SZ | China | $676M | -18% | +15% | 4% | n/a | n/a | n/a |
| Zhejiang Huangma Technology 603181.SS | China | $935M | -30% | +7% | 17% | 14.5× | n/a | n/a |
| Shandong Yanggu Huatai Chemical 300121.SZ | China | $648M | -20% | +11% | 8% | 16.1× | 3.2% | +12.1% |
| Jubilant Ingrevia JUBLINGREA.NS | India | $966M | -24% | +15% | 10% | 21.1× | 27.3% | +44.9% |
| Jiangsu Zhengdan Chemical Industry 300641.SZ | China | $981M | -28% | -30% | 17% | n/a | 8.8% | +11.6% |
| Shandong Jianbang New Material 603285.SS | China | $631M | -40% | +8% | 22% | n/a | n/a | n/a |
| Hunan Xiangtou Goldsky Titanium Industry Technology 688750.SS | China | $629M | -27% | +4% | 6% | n/a | 30.5% | -4.3% |