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Chinese silicon-materials producer based in Tangshan, likely making metallurgical or industrial silicon products (name-derived; specifics not fully confirmed).
Chinese silicon-materials producer based in Tangshan, likely making metallurgical or industrial silicon products (name-derived; specifics not fully confirmed).
Moat: none
Headquarters: Tangshan, China · Employees: 1,048
Size Tangshan SunFar Silicon Industries (603938.SS) is a China Materials company (Chemicals: Specialty) with a market value of $1.72B, the 1444th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥29.96 on 6 Nov 2026.
Performance Over six months the shares gained 6.2%, against -24.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 30.2% over the last twelve months (peer median +18.3%); the operating margin is 8.1% (peer median 7.6%).
Valuation It trades at 42.8× forward earnings against a peer median of 14.7× (4th most expensive of 18).
Capital Return on invested capital runs 1.7 points below its cost of capital (12.5% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.57B | CN¥2.09B | CN¥1.77B | CN¥2.12B | CN¥2.63B |
| Revenue growth | — | +18% | -17% | -19% | — |
| Gross profit | CN¥549M | CN¥256M | CN¥230M | CN¥485M | CN¥1.06B |
| EBITDA | n/a | CN¥238M | CN¥190M | CN¥367M | CN¥922M |
| Net income | CN¥193M | CN¥80.3M | CN¥63.8M | CN¥195M | CN¥748M |
| Free cash flow | -CN¥35.1M | CN¥46.3M | CN¥86.3M | CN¥270M | CN¥231M |
| Capital expenditure | CN¥111M | CN¥39.4M | CN¥91.0M | CN¥144M | CN¥245M |
| Total debt | CN¥191M | CN¥336M | CN¥337M | CN¥598M | CN¥705M |
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| Measure | 603938.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.6% | -14.8% | 2nd lowest of 21 |
| 6-month return | +6.2% | -24.5% | 3rd highest of 21 |
| Distance from 52-week high | -63.4% | -43.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +30.2% | +18.3% | 8th highest of 21 |
| Operating margin | 8.1% | 7.6% | 10th highest of 21 |
| Forward P/E | 42.8× | 14.7× | 4th most expensive of 18 |
| ROIC minus cost of capital | -1.7 pp | -0.8 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tangshan SunFar Silicon Industries 603938.SS | China | $1.72B | +6% | +30% | 8% | 42.8× | n/a | n/a |
| Crystal Clear Electronic Material 300655.SZ | China | $1.75B | -25% | +27% | 7% | 78.2× | 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 |
| Fuso Chemical 4368.T | Japan | $1.79B | -19% | +17% | 26% | 13.1× | 8.4% | +12.8% |
| 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% |
| Huabao Technology 300741.SZ | China | $1.63B | +7% | +17% | 1% | n/a | 45.3% | -8.5% |
| Chambal Fertilisers & Chemicals CHAMBLFERT.NS | India | $1.63B | -15% | +6% | 12% | 7.2× | n/a | n/a |
| Jiangsu Lopal Tech 603906.SS | China | $1.82B | -54% | +96% | 7% | 14.7× | n/a | n/a |
| Tokuyama 4043.T | Japan | $1.63B | -11% | +7% | 9% | 5.8× | 1.1% | +2.9% |
| Ganzhou Teng Yuan Cobalt New Material 301219.SZ | China | $1.85B | -53% | +64% | 10% | 12.5× | n/a | n/a |
| Guangdong Dowstone Technology 300409.SZ | China | $1.59B | -50% | +34% | 6% | 14.0× | 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% |
| Genesis Energy, L.P GEL | United States | $1.57B | -21% | -17% | 19% | n/a | 2.2% | -2.2% |
| Garware Hi-Tech Films GRWRHITECH.NS | India | $1.88B | +40% | +15% | 21% | 37.7× | 38.8% | +16.6% |
| Proto Labs PRLB | United States | $1.57B | -5% | +12% | 8% | 27.4× | 26.8% | +4.2% |
| Lianhe Chemical Technology 002250.SZ | China | $1.90B | -16% | +28% | 13% | 19.7× | -3.4% | +6.1% |