Loading…
Chinese fluorochemical producer making HFC refrigerant gases and other fluorine-based chemicals.
Chinese fluorochemical producer making HFC refrigerant gases and other fluorine-based chemicals.
In one line: A Chinese Honeywell/Chemours for refrigerant gases.
Moat: narrow (regulatory licence, scale). Refrigerant production quotas are government-allocated, limiting supply and protecting incumbent producers.
Headquarters: Quzhou, China · Employees: 2,674
Size Zhejiang Sanmei Chemical Industry (603379.SS) is a China Materials company (Chemicals: Specialty) with a market value of $4.64B, the 549th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥50.65 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against -15.6% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 24.3% over the last twelve months (peer median +10.3%); the operating margin is 41.2% (peer median 10.6%).
Valuation It trades at 13.5× forward earnings against a peer median of 21.9× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 25.6 points above its cost of capital (10.3% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.74B | CN¥5.82B | CN¥4.02B | CN¥3.33B | CN¥4.76B |
| Revenue growth | — | +45% | +21% | -30% | — |
| Gross profit | CN¥3.44B | CN¥2.88B | CN¥1.13B | CN¥408M | CN¥731M |
| EBITDA | n/a | CN¥2.66B | CN¥1.03B | CN¥295M | CN¥565M |
| Net income | CN¥2.10B | CN¥2.06B | CN¥779M | CN¥280M | CN¥486M |
| Free cash flow | CN¥980M | CN¥810M | -CN¥27.5M | -CN¥164M | CN¥207M |
| Capital expenditure | CN¥1.03B | CN¥1.36B | CN¥737M | CN¥649M | CN¥429M |
| Total debt | CN¥902M | CN¥696M | CN¥121M | CN¥402M | CN¥175M |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Sanmei Chemical Industry 603379.SS | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% |
| Zhejiang Yonghe Refrigerant 605020.SS | $2.17B | +5% | +25% | 18% | 13.3× | n/a |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Zhejiang Juhua 600160.SS | $13.1B | -12% | -5% | 20% | 18.2× | n/a |
| Dongyue 0189.HK | $2.04B | -28% | +8% | 19% | 5.6× | -12.4% |
| Chemours CC | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% |
| Arkema AKE.PA | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% |
| Daikin Industries 6367.T | $40.4B | -1% | +11% | 8% | 21.8× | 7.4% |
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 | 603379.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.1% | -2.1% | 5th highest of 21 |
| 6-month return | -22.4% | -15.6% | 6th lowest of 21 |
| Distance from 52-week high | -41.9% | -32.0% | 8th lowest of 21 |
| Revenue growth (TTM) | +24.3% | +10.3% | 4th highest of 21 |
| Operating margin | 41.2% | 10.6% | 2nd highest of 21 |
| Forward P/E | 13.5× | 21.9× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.4% | 5.3% | 9th most demanding of 18 |
| Growth delivered (Del g) | +16.5% | +11.0% | 8th highest of 18 |
| Hurdle (Req g minus delivered) | -11.1 pp | -3.6 pp | 5th least demanding of 18 |
| ROIC minus cost of capital | +25.6 pp | -0.2 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |
| Red Avenue New Materials 603650.SS | China | $4.70B | -12% | +24% | 9% | 40.7× | n/a | n/a |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |