Employees: 7,772
Size Ningbo Peacebird Fashion (603877.SS) is a China Consumer Discretionary company (Apparel/Footwear) with a market value of $839M, the 2649th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.04 on 6 Nov 2026.
Performance Over six months the shares fell 15.4%, against -0.7% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 2.1% over the last twelve months (peer median +7.0%); the operating margin is 4.3% (peer median 8.5%).
Valuation It trades at 26.6× forward earnings against a peer median of 20.0× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is -7%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.7 points above its cost of capital (5.6% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.34B | CN¥6.32B | CN¥6.78B | CN¥7.73B | CN¥8.56B |
| Revenue growth | — | -7% | -12% | -10% | — |
| Gross profit | CN¥3.65B | CN¥2.86B | CN¥3.05B | CN¥3.58B | CN¥3.51B |
| EBITDA | n/a | CN¥896M | CN¥943M | CN¥1.17B | CN¥811M |
| Net income | CN¥228M | CN¥174M | CN¥258M | CN¥422M | CN¥186M |
| Free cash flow | CN¥830M | CN¥446M | CN¥532M | CN¥1.07B | CN¥192M |
| Capital expenditure | CN¥284M | CN¥338M | CN¥363M | CN¥250M | CN¥248M |
| Total debt | CN¥1.83B | CN¥1.52B | CN¥1.66B | CN¥1.40B | CN¥1.81B |
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| Measure | 603877.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.0% | -5.3% | 9th highest of 21 |
| 6-month return | -15.4% | -0.7% | 8th lowest of 21 |
| Distance from 52-week high | -33.3% | -33.3% | 11th highest of 21 |
| Revenue growth (TTM) | -2.1% | +7.0% | 3rd lowest of 21 |
| Operating margin | 4.3% | 8.5% | 6th lowest of 21 |
| Forward P/E | 26.6× | 20.0× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -13.1% | 4.5% | least demanding of 20 |
| Growth delivered (Del g) | -7.5% | +2.4% | 3rd lowest of 19 |
| Hurdle (Req g minus delivered) | -5.6 pp | -4.3 pp | 6th least demanding of 19 |
| ROIC minus cost of capital | +9.7 pp | +0.7 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ningbo Peacebird Fashion 603877.SS | China | $839M | -15% | -2% | 4% | 26.6× | -13.1% | -7.5% |
| Canada Goose GOOS.TO | Canada | $850M | -23% | +12% | 10% | 13.3× | 5.5% | +11.0% |
| Dr. Martens DOCS.L | United Kingdom | $824M | +3% | -3% | 10% | 13.0× | -3.7% | -0.2% |
| Bata India BATAINDIA.NS | India | $868M | -12% | +5% | 9% | 39.2× | 28.9% | +15.5% |
| Fujian Septwolves Industry 002029.SZ | China | $873M | -20% | +1% | -3% | 20.2× | 4.5% | -2.0% |
| Relaxo Footwears RELAXO.NS | India | $768M | -4% | +2% | 8% | 32.5× | 33.5% | +2.8% |
| Logistea LOGI-B.ST | Sweden | $759M | +6% | +18% | 83% | 12.9× | 14.2% | +40.4% |
| Shoei Co. Ltd. (7839) 7839.T | Japan | $750M | +29% | +2% | 28% | 17.0× | -8.1% | +10.7% |
| Bxn 002154.SZ | China | $740M | -19% | +6% | 7% | 11.2× | -10.3% | +6.5% |
| Shanghai Puyuan Chemical Materials 603196.SS | China | $964M | -46% | +78% | 12% | 19.9× | 16.2% | -0.2% |
| JOEONE 601566.SS | China | $975M | +4% | +1% | 6% | 52.6× | -2.9% | +2.1% |
| Zhonghong Pulin Medical Products 300981.SZ | China | $990M | +5% | +11% | 9% | n/a | -1.7% | -13.1% |
| World 3612.T | Japan | $701M | -5% | +15% | 6% | 8.4× | -5.1% | +9.5% |
| Dazzle Fashion 603587.SS | China | $1.03B | +10% | +7% | 16% | 22.1× | -9.2% | -3.5% |
| Topscore Fashion 603608.SS | China | $1.05B | +28% | +9% | 4% | n/a | 51.6% | -9.4% |
| Jiangsu Hongdou Industrial 600400.SS | China | $1.06B | +11% | +22% | -9% | 102.3× | 13.7% | -1.3% |
| Onward 8016.T | Japan | $659M | +4% | +7% | 5% | 9.2× | 1.0% | +6.1% |
| AIMER 603511.SS | China | $657M | -28% | -2% | 4% | n/a | -7.2% | -1.6% |
| Campus Activewear CAMPUS.NS | India | $640M | -21% | +14% | 11% | 30.3× | 32.8% | +20.1% |
| Human Made 456A.T | Japan | $1.10B | +39% | +27% | 30% | 45.5× | 7.7% | n/a |
| Jihua 601718.SS | China | $1.10B | -43% | -22% | -10% | n/a | n/a | n/a |