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Employees: 4,493
Size Shanghai Yongguan Adhesive Products (603681.SS) is a China Materials company (Industrial Specialties) with a market value of $520M, the 3776th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.58 on 6 Nov 2026.
Performance Over six months the shares fell 19.7%, against -22.4% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 7.2% over the last twelve months (peer median +6.7%); the operating margin is 1.2% (peer median 3.4%).
Valuation It trades at 19.2× forward earnings against a peer median of 58.1× (3rd cheapest of 9).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +5 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 5.5 points below its cost of capital (6.6% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.01B | CN¥6.67B | CN¥6.18B | CN¥5.44B | CN¥5.01B |
| Revenue growth | — | +8% | +14% | +8% | — |
| Gross profit | CN¥552M | CN¥473M | CN¥452M | CN¥437M | CN¥486M |
| EBITDA | CN¥422M | CN¥397M | CN¥369M | CN¥390M | CN¥377M |
| Net income | CN¥185M | CN¥124M | CN¥163M | CN¥82.7M | CN¥228M |
| Free cash flow | CN¥154M | -CN¥127M | -CN¥390M | -CN¥190M | -CN¥145M |
| Capital expenditure | CN¥616M | CN¥652M | CN¥627M | CN¥554M | CN¥648M |
| Total debt | CN¥3.12B | CN¥3.66B | CN¥3.31B | CN¥3.24B | CN¥3.29B |
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.
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 | 603681.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.8% | -13.7% | 5th lowest of 21 |
| 6-month return | -19.7% | -22.4% | 9th highest of 21 |
| Distance from 52-week high | -49.2% | -46.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +7.2% | +6.7% | 11th highest of 21 |
| Operating margin | 1.2% | 3.4% | 9th lowest of 21 |
| Forward P/E | 19.2× | 58.1× | 3rd cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 28.1% | 19.2% | 5th most demanding of 11 |
| Growth delivered (Del g) | +22.6% | +5.6% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | +5.4 pp | +13.5 pp | 5th least demanding of 11 |
| ROIC minus cost of capital | -5.5 pp | -6.5 pp | 9th highest of 21 |
| EV / EBITDA | 13.6× | 22.3× | 2nd cheapest of 6 |
| Net debt / EBITDA | 5.4× | 1.9× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Yongguan Adhesive Products 603681.SS | China | $520M | -20% | +7% | 1% | 19.2× | 28.1% | +22.6% |
| Changchun Gas 600333.SS | China | $520M | -1% | +15% | 4% | n/a | 21.2% | +9.6% |
| Dongguan Changlian New Materials Technology 301618.SZ | China | $519M | -21% | +23% | 4% | n/a | 48.7% | +3.2% |
| HankukCarbon 017960.KS | South Korea | $526M | -71% | +11% | 18% | 5.8× | -20.0% | +17.2% |
| Shenzhen King Explorer Science & Technology 002917.SZ | China | $509M | -25% | +1% | 11% | 19.1× | -1.1% | +22.8% |
| NanJing Sanchao Advanced Materials 300554.SZ | China | $508M | -27% | +6% | -51% | n/a | n/a | n/a |
| Suzhou Xingye Materials Technology 603928.SS | China | $540M | -14% | +15% | 7% | n/a | 17.2% | +1.8% |
| Kangda New Materials (Group) 002669.SZ | China | $498M | -18% | +23% | 3% | 25.8× | n/a | n/a |
| Dongguan Golden Sun Abrasives 300606.SZ | China | $545M | -29% | -12% | 5% | n/a | 35.2% | +5.8% |
| Zhejiang Runyang New Material Technology 300920.SZ | China | $548M | -6% | -1% | 5% | 62.0× | 51.7% | -0.5% |
| Beijing Comens New Materials 300200.SZ | China | $491M | -24% | +20% | 4% | n/a | n/a | n/a |
| Rayitek Hi-Tech Film 688323.SS | China | $554M | -23% | +8% | -11% | 59.4× | n/a | n/a |
| Changzhou Almaden Stock 002623.SZ | China | $558M | -11% | -22% | -11% | 56.7× | n/a | n/a |
| Shanxi Huhua 003002.SZ | China | $482M | -52% | -4% | 6% | n/a | 12.0% | +18.8% |
| Jiangsu Xiuqiang Glasswork 300160.SZ | China | $478M | -20% | -8% | 7% | n/a | 1.7% | +5.3% |
| SANVO Fine Chemicals 0301.HK | Hong Kong | $476M | +269% | +3% | -3% | n/a | n/a | n/a |
| Sokan New Materials 688157.SS | China | $476M | -44% | -8% | -3% | 105.6× | n/a | n/a |
| Lucky Film 600135.SS | China | $568M | -40% | +14% | -4% | n/a | n/a | n/a |
| Shanghai Kinlita Chemical 300225.SZ | China | $472M | +7% | +20% | 2% | n/a | 48.9% | -2.0% |
| Hangzhou Heshun Technology 301237.SZ | China | $471M | -41% | +23% | -20% | 669.2× | n/a | n/a |
| Shenzhen Xinhao Photoelectricity Technology 301051.SZ | China | $577M | -19% | -23% | -26% | n/a | n/a | n/a |