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Employees: 947
Size Solbar Ningbo Protein Technology (603231.SS) is a China Consumer Staples company (Agricultural Commodities/Milling) with a market value of $493M, the 3894th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.18 on 6 Nov 2026.
Performance Over six months the shares gained 0.5%, against -8.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 19.8% over the last twelve months (peer median -0.4%); the operating margin is 8.3% (peer median 0.4%).
Valuation It trades at 14.8× forward earnings against a peer median of 9.7× (3rd most expensive of 9).
Capital Return on invested capital runs 4.8 points above its cost of capital (7.6% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.96B | CN¥1.75B | CN¥1.55B | CN¥1.75B | CN¥1.85B |
| Revenue growth | — | +12% | -11% | -5% | — |
| Gross profit | CN¥317M | CN¥282M | CN¥177M | CN¥230M | CN¥239M |
| EBITDA | n/a | CN¥290M | CN¥188M | CN¥227M | CN¥230M |
| Net income | CN¥143M | CN¥190M | CN¥121M | CN¥146M | CN¥168M |
| Free cash flow | -CN¥50.7M | CN¥134M | -CN¥10.0M | CN¥44.6M | CN¥42.4M |
| Capital expenditure | CN¥215M | CN¥190M | CN¥169M | CN¥99.7M | CN¥144M |
| Total debt | CN¥197M | CN¥27.1M | CN¥31.7M | CN¥89.9M | CN¥91.3M |
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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 | 603231.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.8% | -3.7% | 7th highest of 21 |
| 6-month return | +0.5% | -8.2% | 7th highest of 21 |
| Distance from 52-week high | -23.2% | -30.7% | 7th highest of 21 |
| Revenue growth (TTM) | +19.8% | -0.4% | 3rd highest of 21 |
| Operating margin | 8.3% | 0.4% | 4th highest of 21 |
| Forward P/E | 14.8× | 9.7× | 3rd most expensive of 9 |
| ROIC minus cost of capital | +4.8 pp | -2.7 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Solbar Ningbo Protein Technology 603231.SS | China | $493M | +1% | +20% | 8% | 14.8× | n/a | n/a |
| Zhanjiang Guolian Aquatic Products 300094.SZ | China | $490M | -8% | -9% | -28% | n/a | 0.7% | -6.6% |
| Fujian Tianma Science & Technology 603668.SS | China | $488M | -52% | +6% | -1% | 4.6× | 29.6% | +10.5% |
| Shandong Homey Aquatic Development 600467.SS | China | $486M | -9% | -21% | 14% | n/a | 5.0% | -3.1% |
| J-Oil Mills 2613.T | Japan | $474M | +15% | +1% | 2% | 16.1× | n/a | n/a |
| CNFC Overseas Fisheries 000798.SZ | China | $470M | -8% | -2% | -2% | n/a | n/a | n/a |
| Bajaj Hindusthan Sugar BAJAJHIND.NS | India | $470M | -8% | -2% | 1% | n/a | n/a | n/a |
| Royal 002329.SZ | China | $467M | -15% | -2% | -25% | n/a | n/a | n/a |
| ForFarmers FFARM.AS | Netherlands | $537M | -18% | +7% | 3% | 8.2× | -9.9% | +6.0% |
| Jiangsu Yike Food 301116.SZ | China | $538M | -28% | +6% | 0% | 42.0× | n/a | n/a |
| Wanxiang Doneed 600371.SS | China | $544M | +41% | -13% | -11% | n/a | n/a | n/a |
| Shiyue Daotian 9676.HK | Hong Kong | $545M | -35% | +26% | 7% | 8.4× | n/a | n/a |
| Kadoya Sesame Mills 2612.T | Japan | $550M | +94% | -2% | 10% | n/a | 0.9% | +5.0% |
| WELLNEO SUGAR 2117.T | Japan | $555M | +2% | +8% | 10% | n/a | -10.2% | +20.9% |
| Ningxia Xiaoming Agriculture & Animal Husbandry 300967.SZ | China | $435M | -7% | -17% | -2% | n/a | 21.1% | +17.7% |
| Triveni Engineering and Industries TRIVENI.NS | India | $561M | -4% | +2% | 8% | 11.0× | n/a | n/a |
| Tilray Brands TLRY.TO | Canada | $433M | -47% | +17% | -6% | n/a | n/a | n/a |
| Inghams ING.AX | Australia | $563M | +13% | +2% | 4% | 12.7× | -1.2% | +3.9% |
| Baiyang Investment 002696.SZ | China | $569M | +62% | +25% | 0% | n/a | n/a | n/a |
| Shenzhen Kingsino Technology 002548.SZ | China | $428M | -35% | -2% | -12% | 8.2× | 12.6% | +3.2% |
| Bannari Amman Sugars BANARISUG.NS | India | $423M | -13% | -8% | 6% | n/a | 26.7% | +4.9% |