Loading…
Chinese company that pivoted from automotive exhaust/catalytic-converter parts into lithium iron phosphate (LFP) battery cathode materials.
Chinese company that pivoted from automotive exhaust/catalytic-converter parts into lithium iron phosphate (LFP) battery cathode materials.
Moat: none. LFP cathode material production is increasingly commoditized amid rapid capacity additions across China.
Headquarters: Changzhou, China · Employees: 4,617
Size Jiangsu Lopal Tech (603906.SS) is a China Materials company (Chemicals: Specialty) with a market value of $1.82B, the 1380th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.31 on 6 Nov 2026.
Performance Over six months the shares fell 53.8%, against -24.6% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 96.3% over the last twelve months (peer median +18.5%); the operating margin is 7.2% (peer median 7.6%).
Valuation It trades at 14.7× forward earnings against a peer median of 17.7× (9th cheapest of 19).
Capital Return on invested capital runs 2.1 points above its cost of capital (6.3% WACC).
Next results Next results expected around 2 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.4B | CN¥8.91B | CN¥7.66B | CN¥8.71B | CN¥14.1B |
| Revenue growth | — | +16% | -12% | -38% | — |
| Gross profit | CN¥3.32B | CN¥1.14B | CN¥592M | -CN¥92.7M | CN¥2.41B |
| EBITDA | n/a | CN¥944M | CN¥206M | -CN¥1.01B | CN¥1.61B |
| Net income | CN¥444M | -CN¥173M | -CN¥645M | -CN¥1.23B | CN¥753M |
| Free cash flow | -CN¥2.99B | -CN¥535M | CN¥210M | -CN¥1.23B | -CN¥4.41B |
| Capital expenditure | CN¥1.19B | CN¥966M | CN¥613M | CN¥2.17B | CN¥1.18B |
| Total debt | CN¥16.8B | CN¥11.1B | CN¥8.97B | CN¥10.0B | CN¥5.87B |
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 | 603906.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.9% | -11.1% | 3rd lowest of 21 |
| 6-month return | -53.8% | -24.6% | 2nd lowest of 20 |
| Distance from 52-week high | -55.6% | -51.1% | 8th lowest of 21 |
| Revenue growth (TTM) | +96.3% | +18.5% | 2nd highest of 20 |
| Operating margin | 7.2% | 7.6% | 11th highest of 21 |
| Forward P/E | 14.7× | 17.7× | 9th cheapest of 19 |
| ROIC minus cost of capital | +2.1 pp | -0.9 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Lopal Tech 603906.SS | China | $1.82B | -54% | +96% | 7% | 14.7× | n/a | n/a |
| Fuso Chemical 4368.T | Japan | $1.79B | -19% | +17% | 26% | 13.1× | 8.4% | +12.8% |
| Ganzhou Teng Yuan Cobalt New Material 301219.SZ | China | $1.85B | -53% | +64% | 10% | 12.5× | n/a | n/a |
| Transfar Zhilian 002010.SZ | China | $1.87B | -21% | -30% | 5% | 16.1× | n/a | n/a |
| Zibo Qixiang Tengda Chemical 002408.SZ | China | $1.87B | -33% | +18% | -1% | 220.0× | 3.7% | -0.8% |
| Inner Mongolia Shuangxin Environment-Friendly Material 001369.SZ | China | $1.87B | -28% | +3% | 15% | n/a | n/a | n/a |
| Verbio VBK.DE | Germany | $1.88B | -37% | +19% | 5% | 13.2× | 1.1% | +12.8% |
| Garware Hi-Tech Films GRWRHITECH.NS | India | $1.88B | +40% | +15% | 21% | 37.7× | 38.8% | +16.6% |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 7% | 78.2× | n/a | n/a |
| Lianhe Chemical Technology 002250.SZ | China | $1.90B | -16% | +28% | 13% | 19.7× | -3.4% | +6.1% |
| Standard Nuclear STDN | United States | $1.90B | n/a | n/a | -288% | n/a | n/a | n/a |
| Lily 603823.SS | China | $1.91B | +85% | +2% | 10% | 58.1× | 27.9% | +1.4% |
| Minerals Technologies MTX | United States | $1.91B | -22% | +5% | 13% | 9.8× | 0.5% | +5.4% |
| Guangdong Huate Gas 688268.SS | China | $1.92B | -47% | +27% | 13% | 56.1× | 35.6% | +7.2% |
| Chemours CC | United States | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% | +3.2% |
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 8% | 42.8× | n/a | n/a |
| Ube 4208.T | Japan | $1.94B | +33% | +3% | 4% | 12.0× | n/a | n/a |
| Shida Shinghwa Advanced Material 603026.SS | China | $1.68B | -58% | +58% | 8% | 7.5× | n/a | n/a |
| Shenzhen Dynanonic 300769.SZ | China | $1.65B | -50% | +188% | 4% | 12.5× | n/a | n/a |
| Fujian Kuncai Material Technology 603826.SS | China | $1.64B | -51% | +59% | 5% | 61.0× | 24.1% | +11.0% |
| Ningbo Yunsheng 600366.SS | China | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% | +17.9% |