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Employees: 3,287
Size Harson Trading (China) (603958.SS) is a China Consumer Discretionary company (Apparel/Footwear) with a market value of $511M, the 3811th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.52 on 6 Nov 2026.
Performance Over six months the shares fell 36.0%, against -13.9% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 23.0% over the last twelve months (peer median +1.2%); the operating margin is 2.9% (peer median 4.4%).
Valuation It trades at 2.4× enterprise value to sales against a peer median of 1.7× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.0 points below its cost of capital (9.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.61B | CN¥1.45B | CN¥817M | CN¥808M | CN¥762M |
| Revenue growth | — | +78% | +1% | +6% | — |
| Gross profit | CN¥610M | CN¥483M | CN¥404M | CN¥430M | CN¥359M |
| EBITDA | n/a | CN¥47.0M | -CN¥42.2M | CN¥7.64M | -CN¥155M |
| Net income | -CN¥3.96M | -CN¥50.4M | -CN¥96.4M | -CN¥5.33M | -CN¥156M |
| Free cash flow | CN¥83.3M | -CN¥54.5M | -CN¥58.8M | CN¥64.8M | -CN¥102M |
| Capital expenditure | CN¥85.1M | CN¥102M | CN¥40.8M | CN¥12.3M | CN¥7.32M |
| Total debt | CN¥499M | CN¥555M | CN¥356M | CN¥7.89M | CN¥59.8M |
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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 | 603958.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.4% | -9.1% | 7th lowest of 21 |
| 6-month return | -36.0% | -13.9% | 2nd lowest of 21 |
| Distance from 52-week high | -43.5% | -29.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +23.0% | +1.2% | 3rd highest of 21 |
| Operating margin | 2.9% | 4.4% | 9th lowest of 21 |
| EV / Sales | 2.4× | 1.7× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 25.6% | 7.8% | 2nd most demanding of 15 |
| Growth delivered (Del g) | +10.4% | +5.8% | 5th highest of 15 |
| Hurdle (Req g minus delivered) | +15.1 pp | -2.5 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | -3.0 pp | -0.0 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Harson Trading (China) 603958.SS | China | $511M | -36% | +23% | 3% | 2.4× | 25.6% | +10.4% |
| Gokaldas Exports GOKEX.NS | India | $529M | -6% | +8% | 4% | 1.2× | n/a | n/a |
| Nueva Expresion Textil NXT.MC | Spain | $490M | +1% | +55% | 22% | 11.6× | n/a | n/a |
| QingDao Kutesmart 300840.SZ | China | $540M | -30% | 0% | 5% | 4.6× | n/a | n/a |
| Shanghai Metersbonwe Fashion & Accessories 002269.SZ | China | $482M | -25% | -16% | -54% | 9.2× | 17.7% | -34.8% |
| ZheJiang Jasan 603558.SS | China | $545M | -12% | +6% | 17% | 1.8× | n/a | n/a |
| Shandong High Speed Renewable Energy 000803.SZ | China | $546M | -27% | +3% | 13% | 4.0× | 5.4% | +33.2% |
| Zhejiang Kanglongda Special Protection Technology 603665.SS | China | $476M | -29% | -1% | 3% | 2.7× | 10.2% | +6.8% |
| Zhejiang Red Dragonfly Footwear 603116.SS | China | $465M | -15% | +1% | -7% | 1.1× | 4.1% | -4.7% |
| Sunrise Manufacture 605138.SS | China | $457M | -29% | +3% | 5% | 1.7× | n/a | n/a |
| Weyco WEYS | United States | $580M | +79% | +2% | 17% | 1.7× | -1.2% | +7.2% |
| Wuxi Double Elephant Micro Fibre Material 002395.SZ | China | $448M | -45% | -5% | 4% | 1.1× | -0.1% | +14.0% |
| Oxford Industries OXM | United States | $440M | -35% | -2% | 3% | 0.7× | 11.6% | +14.6% |
| Marimekko MEKKO.HE | Finland | $437M | -1% | +2% | 16% | 2.1× | -1.5% | +8.9% |
| ShenZhen HuiJie 002763.SZ | China | $437M | -24% | -3% | 6% | 0.8× | -11.8% | +4.9% |
| Zhejiang Giuseppe Garment 002687.SZ | China | $432M | +18% | -1% | 8% | 1.9× | 12.1% | +3.0% |
| PDS PDSL.NS | India | $605M | +35% | +5% | 2% | 0.4× | 14.0% | +16.1% |
| TSI 3608.T | Japan | $430M | -11% | +29% | 2% | 0.5× | n/a | n/a |
| LF Corp. 093050.KS | South Korea | $426M | -13% | 0% | 9% | 0.6× | -12.5% | +3.2% |
| ZheJiang AoKang Shoes 603001.SS | China | $619M | +19% | -31% | -8% | 2.5× | 23.6% | -6.8% |
| Shanghai Dragon 600630.SS | China | $420M | -21% | +9% | 2% | 1.4× | 26.5% | -10.9% |