Employees: 824
Size Xinjiang East Universe (Group) Gas (603706.SS) is a China Utilities company (Gas Distributors) with a market value of $521M, the 3767th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.35 on 6 Nov 2026.
Performance Over six months the shares fell 15.2%, against -13.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 14.1% over the last twelve months (peer median +0.5%); the operating margin is 20.2% (peer median 7.8%).
Valuation It trades at 2.1× enterprise value to sales against a peer median of 1.4× (6th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.7 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.27B | CN¥1.33B | CN¥1.44B | CN¥1.20B | CN¥1.05B |
| Revenue growth | — | -8% | +20% | +14% | — |
| Gross profit | CN¥469M | CN¥379M | CN¥346M | CN¥335M | CN¥256M |
| EBITDA | n/a | CN¥414M | CN¥390M | CN¥409M | CN¥334M |
| Net income | CN¥217M | CN¥216M | CN¥197M | CN¥197M | CN¥137M |
| Free cash flow | CN¥277M | CN¥250M | CN¥226M | CN¥434M | CN¥186M |
| Capital expenditure | CN¥26.2M | CN¥36.8M | CN¥168M | CN¥33.4M | CN¥91.7M |
| Total debt | CN¥103M | CN¥111M | CN¥138M | CN¥181M | CN¥222M |
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| Measure | 603706.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.5% | -2.9% | 5th highest of 20 |
| 6-month return | -15.2% | -13.6% | 10th lowest of 20 |
| Distance from 52-week high | -25.6% | -30.6% | 8th highest of 20 |
| Revenue growth (TTM) | -14.1% | +0.5% | lowest of 21 |
| Operating margin | 20.2% | 7.8% | 2nd highest of 21 |
| EV / Sales | 2.1× | 1.4× | 6th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -11.7% | -1.5% | least demanding of 15 |
| Growth delivered (Del g) | +10.6% | +8.2% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | -22.3 pp | -4.2 pp | 3rd least demanding of 15 |
| ROIC minus cost of capital | +18.7 pp | +0.8 pp | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xinjiang East Universe (Group) Gas 603706.SS | China | $521M | -15% | -14% | 20% | 2.1× | -11.7% | +10.6% |
| Shandong Shengli 000407.SZ | China | $512M | -20% | 0% | 7% | 1.2× | -3.1% | -2.0% |
| Top Resource Energy 300332.SZ | China | $556M | -20% | -3% | 0% | 2.0× | 12.9% | +8.8% |
| Hokkaido Gas 9534.T | Japan | $468M | +3% | +1% | 8% | 0.7× | -6.6% | +8.1% |
| K&O Energy 1663.T | Japan | $585M | -28% | -1% | 12% | 0.6× | -8.6% | +9.3% |
| Sala 2734.T | Japan | $456M | +9% | +3% | 4% | 0.5× | n/a | n/a |
| Anhui Province Natural Gas Development 603689.SS | China | $601M | -10% | -9% | 9% | 1.3× | 0.6% | +1.4% |
| Sichuan Shengda Forestry Industry 002259.SZ | China | $447M | -27% | -1% | 10% | 3.0× | 16.9% | +0.9% |
| Great Taipei Gas 9908.TW | Taiwan | $435M | -3% | 0% | 14% | 2.2× | -5.4% | -1.0% |
| Saibu Gas 9536.T | Japan | $630M | +23% | -6% | 5% | 1.4× | n/a | n/a |
| Shizuoka Gas 9543.T | Japan | $631M | -5% | 0% | 6% | 0.5× | -9.0% | +10.6% |
| Shenzhen Guangju Energy 000096.SZ | China | $634M | -18% | +4% | 4% | 2.8× | n/a | n/a |
| Clean Energy Fuels CLNE | United States | $421M | -14% | +4% | -7% | 1.4× | 17.0% | +8.1% |
| Yu Group PLC YU..L | United Kingdom | $414M | +3% | +14% | 8% | 0.2× | -9.4% | +47.1% |
| Shaanxi Meineng Clean Energy 001299.SZ | China | $411M | -19% | -6% | 11% | 3.5× | n/a | n/a |
| Henan Lantian Gas 605368.SS | China | $687M | -18% | -9% | 8% | 1.3× | 0.0% | +2.7% |
| Ascopiave ASC.MI | Italy | $699M | -8% | +34% | 26% | 4.5× | 4.4% | +8.3% |
| Shinhsiung Natural Gas 8908.TW | Taiwan | $382M | n/a | +2% | 8% | 1.5× | 2.4% | +10.4% |
| Xinjiang Torch Gas 603080.SS | China | $378M | -19% | +1% | 14% | 1.6× | -5.1% | +19.3% |
| E1 Corporation 017940.KS | South Korea | $339M | -27% | +24% | 0% | n/a | n/a | n/a |
| Unimot UNT.WA | Poland | $315M | -12% | +5% | 2% | 0.2× | n/a | n/a |