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Makes ultra-thin electronic-grade glass fiber fabric used to reinforce printed circuit boards and composite materials.
Makes ultra-thin electronic-grade glass fiber fabric used to reinforce printed circuit boards and composite materials.
Weaves glass-fibre yarn into thin cloth, which laminate makers soak in resin and press into the base boards of printed circuit boards, so it is paid per metre of cloth, with the thinnest, highest-specification types earning the most. Output follows electronics and circuit-board demand, with AI servers a newer end use.
In one line: A Chinese specialty glass-fiber-cloth maker feeding the PCB supply chain.
Moat: narrow (process know-how, scale). Precision thin-fabric weaving for high-end PCB substrates is technically harder to replicate at scale.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 1,289
Size Grace Fabric Technology (603256.SS) is a China Consumer Discretionary company (Textiles) with a market value of $10.6B, the 235th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥75.75 on 6 Nov 2026.
Performance Over six months the shares fell 36.4%, against -11.9% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 9 in its peer set.
Growth Revenue grew 115.2% over the last twelve months (peer median +15.7%); the operating margin is 43.7% (peer median 8.9%).
Valuation It trades at 57.2× forward earnings against a peer median of 13.0× (most expensive of 9).
Capital Return on invested capital runs 3.0 points above its cost of capital (15.0% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.29B | CN¥1.17B | CN¥832M | CN¥659M | CN¥609M |
| Revenue growth | — | +40% | +26% | +8% | — |
| Gross profit | CN¥1.44B | CN¥403M | CN¥132M | CN¥45.4M | CN¥164M |
| EBITDA | n/a | CN¥359M | CN¥141M | CN¥33.7M | CN¥94.7M |
| Net income | CN¥807M | CN¥202M | CN¥22.8M | -CN¥63.1M | CN¥52.4M |
| Free cash flow | -CN¥2.65B | -CN¥517M | CN¥153M | -CN¥272M | CN¥16.2M |
| Capital expenditure | CN¥3.42B | CN¥817M | CN¥33.9M | CN¥181M | CN¥286M |
| Total debt | CN¥2.76B | CN¥1.23B | CN¥849M | CN¥888M | CN¥837M |
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 |
|---|---|---|---|---|---|---|
| Grace Fabric Technology 603256.SS | $10.6B | -36% | +115% | 44% | 57.2× | n/a |
| China Jushi 600176.SS | $16.6B | -20% | +27% | 34% | 13.5× | 14.6% |
| Nitto Boseki 3110.T | $2.85B | -58% | +12% | 20% | 19.3× | 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 | 603256.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.2% | -3.7% | lowest of 9 |
| 6-month return | -36.4% | -11.9% | 3rd lowest of 9 |
| Distance from 52-week high | -75.1% | -26.2% | lowest of 9 |
| Revenue growth (TTM) | +115.2% | +15.7% | highest of 9 |
| Operating margin | 43.7% | 8.9% | highest of 9 |
| Forward P/E | 57.2× | 13.0× | most expensive of 9 |
| ROIC minus cost of capital | +3.0 pp | +2.9 pp | 5th highest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Grace Fabric Technology 603256.SS | China | $10.6B | -36% | +115% | 44% | 57.2× | n/a | n/a |
| Toray Industries 3402.T | Japan | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% | +6.5% |
| Sinoma Science & Technology 002080.SZ | China | $8.76B | -40% | +18% | 9% | 19.5× | n/a | n/a |
| Tongkun 601233.SS | China | $8.35B | -3% | +21% | 5% | 6.8× | -1.4% | +15.4% |
| Hengyi Petrochemical 000703.SZ | China | $7.21B | -30% | +21% | 9% | 5.0× | -6.6% | +5.6% |
| Huafon Chemical 002064.SZ | China | $7.15B | -18% | +13% | 14% | 12.0× | -0.3% | +10.5% |
| Inner Mongolia ERDOS Resources 600295.SS | China | $5.49B | -5% | +2% | 9% | 14.1× | -9.2% | +2.2% |
| Xinfengming 603225.SS | China | $4.54B | -2% | +22% | 4% | 9.7× | -3.9% | +14.1% |
| Nitto Boseki 3110.T | Japan | $2.85B | -58% | +12% | 20% | 19.3× | n/a | n/a |