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Chinese maker of composite polymer insulators and surge arresters used in power transmission grids.
Chinese maker of composite polymer insulators and surge arresters used in power transmission grids.
Sells into a market where the two state grid operators and their equipment suppliers buy mostly through tenders, so results follow bidding rounds and a supplier's qualification record.
Moat: narrow (process know-how, customer qualification). Grid-grade insulator qualification standards favor established suppliers.
Headquarters: Jiangsu, China · Employees: 1,865
Size Jiangsu Shemar Electric (603530.SS) is a China Materials company (Industrial Specialties) with a market value of $2.23B, the 1145th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.41 on 6 Nov 2026.
Performance Over six months the shares fell 43.5%, against -1.2% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 17.1% over the last twelve months (peer median +11.4%); the operating margin is 29.0% (peer median 10.1%).
Valuation It trades at 26.2× forward earnings against a peer median of 28.3× (8th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is +2 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 10.5 points above its cost of capital (11.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.89B | CN¥1.71B | CN¥1.34B | CN¥946M | CN¥734M |
| Revenue growth | — | +28% | +42% | +29% | — |
| Gross profit | CN¥946M | CN¥765M | CN¥557M | CN¥348M | CN¥163M |
| EBITDA | n/a | CN¥581M | CN¥427M | CN¥227M | CN¥74.7M |
| Net income | CN¥467M | CN¥432M | CN¥311M | CN¥158M | CN¥49.1M |
| Free cash flow | CN¥348M | -CN¥119M | CN¥68.3M | CN¥60.6M | -CN¥117M |
| Capital expenditure | CN¥130M | CN¥239M | CN¥95.0M | CN¥45.2M | CN¥60.6M |
| Total debt | CN¥594M | CN¥468M | CN¥328M | CN¥79.1M | CN¥225M |
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 |
|---|---|---|---|---|---|---|
| Jiangsu Shemar Electric 603530.SS | $2.23B | -44% | +17% | 29% | 26.2× | 23.4% |
| Hubbell HUBB | $22.7B | -13% | +16% | 21% | 19.1× | 10.5% |
| Ngk 5333.T | $7.43B | -13% | +10% | 16% | 13.1× | 4.4% |
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 | 603530.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.5% | -12.9% | 10th lowest of 21 |
| 6-month return | -43.5% | -1.2% | 2nd lowest of 20 |
| Distance from 52-week high | -53.5% | -30.4% | 4th lowest of 21 |
| Revenue growth (TTM) | +17.1% | +11.4% | 7th highest of 21 |
| Operating margin | 29.0% | 10.1% | 2nd highest of 21 |
| Forward P/E | 26.2× | 28.3× | 8th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 23.4% | 19.7% | 7th most demanding of 15 |
| Growth delivered (Del g) | +21.1% | +12.0% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | +2.3 pp | +0.9 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +10.5 pp | -0.1 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Shemar Electric 603530.SS | China | $2.23B | -44% | +17% | 29% | 26.2× | 23.4% | +21.1% |
| Zhejiang Fulai New Material 605488.SS | China | $2.21B | +47% | +19% | 2% | 134.6× | 31.8% | +17.6% |
| Grindwell Norton GRINDWELL.NS | India | $2.25B | +16% | +14% | 16% | 39.5× | 37.8% | +13.4% |
| Henan Huanghe Whirlwind 600172.SS | China | $2.27B | +29% | +13% | -30% | n/a | n/a | n/a |
| Zeon 4205.T | Japan | $2.34B | +6% | +4% | 11% | 9.1× | -1.5% | +6.4% |
| UFP Technologies UFPT | United States | $2.35B | +32% | +9% | 15% | 28.3× | 17.8% | +27.4% |
| Carborundum Universal CARBORUNIV.NS | India | $2.10B | +4% | +12% | 7% | 44.5× | 43.4% | +14.6% |
| Anhui Jiangnan Chemical Industry 002226.SZ | China | $2.07B | -3% | +13% | 11% | 16.8× | -3.0% | +20.5% |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 36.2× | 38.0% | +12.1% |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 6.2× | n/a | n/a |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | n/a | n/a | n/a |
| Shaanxi Huaqin Technology Industry 688281.SS | China | $2.50B | -18% | +31% | 15% | 34.7× | 27.5% | +24.7% |
| Olin OLN | United States | $1.97B | -36% | -1% | 0% | n/a | 44.0% | +3.3% |
| Xizang Gaozheng Civil Explosives 002827.SZ | China | $2.53B | +92% | -1% | 12% | 108.9× | n/a | n/a |
| Shenzhen Leading Semiconductor Industry 603991.SS | China | $2.60B | +12% | +996% | 10% | n/a | 21.7% | +12.0% |
| KCC 002380.KS | South Korea | $1.91B | -34% | 0% | 6% | 2.1× | 3.8% | +5.0% |
| Lintec 7966.T | Japan | $1.87B | -14% | +3% | 8% | 12.2× | 1.5% | +6.2% |
| Gansu Energy Chemical 000552.SZ | China | $1.86B | -19% | +11% | 3% | 33.4× | n/a | n/a |
| DIC 4631.T | Japan | $2.68B | +25% | +6% | 7% | 9.3× | -1.0% | +8.5% |
| H.B. Fuller FUL | United States | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% | +4.5% |
| GCL Technology 3800.HK | Hong Kong | $2.71B | -30% | +25% | -22% | n/a | n/a | n/a |