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Leading Chinese maker of high-purity quartz materials used in semiconductor and solar manufacturing equipment.
Leading Chinese maker of high-purity quartz materials used in semiconductor and solar manufacturing equipment.
Sells quartz products that wear out inside furnaces and chip-making tools, so customers buy again as they run, and orders follow wafer and solar production activity. A supplier has to be approved by the toolmaker or wafer maker first, so qualification matters more than price. Solar demand swings with industry capacity decisions.
Moat: narrow (process know-how, customer qualification). High-purity quartz manufacturing is technically demanding and qualified into fab/furnace processes.
Headquarters: Lianyungang, China · Founded: 1999 · Employees: 1,815
Size Jiangsu Pacific Quartz (603688.SS) is a China Materials company (Industrial Specialties) with a market value of $2.78B, the 924th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.19 on 6 Nov 2026.
Performance Over six months the shares fell 38.0%, against +2.4% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 19 in its peer set.
Growth Revenue grew 14.8% over the last twelve months (peer median +8.5%); the operating margin is 9.8% (peer median 11.2%).
Valuation It trades at 82.1× forward earnings against a peer median of 30.7× (3rd most expensive of 15).
Capital Return on invested capital runs 8.7 points below its cost of capital (13.3% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.11B | CN¥1.00B | CN¥1.20B | CN¥7.10B | CN¥2.00B |
| Revenue growth | — | -16% | -83% | +254% | — |
| Gross profit | CN¥492M | CN¥306M | CN¥508M | CN¥6.18B | CN¥1.35B |
| EBITDA | n/a | CN¥269M | CN¥453M | CN¥5.99B | CN¥1.24B |
| Net income | CN¥151M | CN¥153M | CN¥334M | CN¥5.04B | CN¥1.05B |
| Free cash flow | -CN¥277M | -CN¥175M | CN¥751M | CN¥3.64B | CN¥350M |
| Capital expenditure | CN¥399M | CN¥123M | CN¥114M | CN¥239M | CN¥142M |
| Total debt | CN¥216M | CN¥7.74M | CN¥46,450 | CN¥3.33M | CN¥885,542 |
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 Pacific Quartz 603688.SS | $2.78B | -38% | +15% | 10% | 82.1× | n/a |
| Tosoh 4042.T | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% |
| Hubei Feilihua Quartz Glass 300395.SZ | $5.35B | -38% | +50% | 24% | 52.7× | n/a |
| Ferrotec 6890.T | $2.08B | -19% | +43% | 12% | 8.3× | 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 | 603688.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.6% | -14.7% | 9th lowest of 20 |
| 6-month return | -38.0% | +2.4% | 3rd lowest of 19 |
| Distance from 52-week high | -61.8% | -36.9% | 2nd lowest of 20 |
| Revenue growth (TTM) | +14.8% | +8.5% | 8th highest of 21 |
| Operating margin | 9.8% | 11.2% | 9th lowest of 21 |
| Forward P/E | 82.1× | 30.7× | 3rd most expensive of 15 |
| ROIC minus cost of capital | -8.7 pp | +0.0 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Pacific Quartz 603688.SS | China | $2.78B | -38% | +15% | 10% | 82.1× | n/a | n/a |
| GCL Technology 3800.HK | Hong Kong | $2.71B | -30% | +25% | -22% | n/a | n/a | n/a |
| H.B. Fuller FUL | United States | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% | +4.5% |
| DIC 4631.T | Japan | $2.68B | +25% | +6% | 7% | 9.3× | -1.0% | +8.5% |
| Flat Glass 6865.HK | Hong Kong | $2.87B | -40% | -20% | -2% | n/a | 11.2% | +19.1% |
| WD-40 WDFC | United States | $2.97B | +6% | +11% | 16% | 33.9× | 2.2% | +7.1% |
| Shenzhen Leading Semiconductor Industry 603991.SS | China | $2.60B | +12% | +996% | 10% | n/a | 21.7% | +12.0% |
| Himadri Speciality Chemical HSCL.NS | India | $3.04B | -8% | +25% | 20% | 31.9× | n/a | n/a |
| Xizang Gaozheng Civil Explosives 002827.SZ | China | $2.53B | +92% | -1% | 12% | 108.9× | n/a | n/a |
| Kinik 1560.TW | Taiwan | $3.04B | +17% | +19% | 19% | 35.7× | 34.8% | +9.6% |
| Shaanxi Huaqin Technology Industry 688281.SS | China | $2.50B | -18% | +31% | 15% | 34.7× | 27.5% | +24.7% |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | n/a | n/a | n/a |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 6.2× | n/a | n/a |
| SKSHU Paint 603737.SS | China | $3.14B | -33% | 0% | 4% | 29.5× | 27.7% | +8.9% |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 36.2× | 38.0% | +12.1% |
| Kansai Paint 4613.T | Japan | $3.23B | +29% | +3% | 8% | 19.1× | 2.3% | +10.1% |
| UFP Technologies UFPT | United States | $2.35B | +32% | +9% | 15% | 28.3× | 17.8% | +27.4% |
| Zeon 4205.T | Japan | $2.34B | +6% | +4% | 11% | 9.1× | -1.5% | +6.4% |
| Crown New Materials Techn Co L 001381.SZ | China | $3.33B | n/a | +8% | 10% | n/a | n/a | n/a |
| China Hainan Rubber Industry 601118.SS | China | $3.36B | -27% | -37% | -3% | 104.6× | 2.9% | +22.2% |
| Henan Huanghe Whirlwind 600172.SS | China | $2.27B | +29% | +13% | -30% | n/a | n/a | n/a |