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Chinese importer and distributor of liquefied petroleum gas (LPG), among the largest LPG players in China.
Chinese importer and distributor of liquefied petroleum gas (LPG), among the largest LPG players in China.
Earns the gap between the price it pays for imported LPG, set by international benchmarks, and what it sells for in China, so margins depend on that spread and on shipping costs more than on volume alone. Its own import terminals let it receive large cargoes directly and store them before resale.
In one line: A China-based Suburban Propane-scale LPG distributor.
Moat: narrow (scale, distribution). Large-scale LPG import terminal infrastructure is capital-intensive to replicate.
Headquarters: Jiangxi, China · Employees: 1,924
Size Jiangxi Jovo Energy (605090.SS) is a China Energy company (Oil & Gas Production) with a market value of $3.02B, the 850th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥28.53 on 6 Nov 2026.
Performance Over six months the shares fell 37.4%, against -8.4% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 7.4% over the last twelve months (peer median +11.2%); the operating margin is 8.7% (peer median 29.6%).
Valuation It trades at 11.8× forward earnings against a peer median of 7.9× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.8 points above its cost of capital (7.0% WACC).
Next results Next results expected around 14 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.1B | CN¥20.3B | CN¥22.0B | CN¥26.6B | CN¥24.0B |
| Revenue growth | — | -8% | -17% | +11% | — |
| Gross profit | CN¥2.55B | CN¥1.97B | CN¥1.94B | CN¥1.96B | CN¥1.45B |
| EBITDA | n/a | CN¥1.87B | CN¥1.86B | CN¥1.86B | CN¥1.40B |
| Net income | CN¥1.54B | CN¥1.48B | CN¥1.68B | CN¥1.31B | CN¥1.09B |
| Free cash flow | CN¥312M | CN¥1.34B | -CN¥670M | CN¥1.01B | CN¥1.35B |
| Capital expenditure | CN¥1.14B | CN¥398M | CN¥2.76B | CN¥1.19B | CN¥330M |
| Total debt | CN¥3.48B | CN¥3.20B | CN¥3.96B | CN¥4.35B | CN¥2.82B |
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| Measure | 605090.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.0% | -8.1% | 8th lowest of 21 |
| 6-month return | -37.4% | -8.4% | lowest of 21 |
| Distance from 52-week high | -48.4% | -26.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | -7.4% | +11.2% | 3rd lowest of 20 |
| Operating margin | 8.7% | 29.6% | 3rd lowest of 20 |
| Forward P/E | 11.8× | 7.9× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -0.6% | -1.6% | 5th most demanding of 13 |
| Growth delivered (Del g) | +17.9% | +16.4% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -18.4 pp | -18.4 pp | 7th least demanding of 13 |
| ROIC minus cost of capital | +5.8 pp | +2.3 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangxi Jovo Energy 605090.SS | China | $3.02B | -37% | -7% | 9% | 11.8× | -0.6% | +17.9% |
| Topaz Energy TPZ.TO | Canada | $3.17B | -9% | +22% | 60% | 22.8× | 5.9% | +29.4% |
| International Petroleum Corp. (British Columbia) IPCO.TO | Canada | $2.85B | 0% | +11% | 19% | 11.2× | n/a | n/a |
| Gulfport Energy GPOR | United States | $2.65B | -16% | +27% | 42% | 6.3× | -13.4% | +10.6% |
| Talos Energy TALO | United States | $2.48B | -1% | +13% | 14% | 7.9× | -5.0% | +25.3% |
| Northern Oil and Gas NOG | United States | $2.43B | -2% | -3% | 30% | 4.9× | n/a | n/a |
| Patterson-UTI Energy PTEN | United States | $3.76B | -13% | 0% | 0% | 26.0× | 42.6% | +33.8% |
| Comstock Resources CRK | United States | $3.94B | -5% | +17% | 19% | 43.4× | n/a | n/a |
| Select Water Solutions WTTR | United States | $2.09B | -4% | -2% | 4% | 28.9× | n/a | n/a |
| CNX Resources CNX | United States | $4.99B | -2% | +8% | 40% | 9.3× | -5.8% | +14.6% |
| Murphy Oil MUR | United States | $5.16B | -3% | +8% | 22% | 8.6× | -0.7% | +9.0% |
| Energean ENOG.L | United Kingdom | $1.72B | -19% | +9% | 27% | 4.2× | -2.4% | +126.8% |
| Spartan Delta SDE.TO | Canada | $1.63B | -11% | +93% | 32% | 7.6× | n/a | n/a |
| Vermilion Energy VET.TO | Canada | $1.61B | -9% | -2% | 14% | 4.3× | -0.8% | +9.1% |
| Etablissements Maurel & Prom MAU.PA | France | $1.57B | -29% | -11% | 31% | 5.4× | n/a | n/a |
| NextDecade NEXT | United States | $1.56B | -23% | n/a | n/a | n/a | n/a | n/a |
| BlueNord BNOR.OL | Norway | $1.49B | -6% | +28% | 32% | 10.9× | -12.2% | +15.0% |
| Harbour Energy HBR.L | United Kingdom | $6.17B | -8% | +17% | 40% | 5.1× | n/a | n/a |
| Magnolia Oil & Gas MGY | United States | $6.34B | -15% | +11% | 38% | 7.4× | 3.4% | +19.4% |
| Beach Energy BPT.AX | Australia | $1.42B | -16% | -9% | 21% | 5.5× | -12.2% | +4.2% |
| Cardinal Energy CJ.TO | Canada | $1.40B | -8% | +18% | 31% | 11.8× | 5.3% | +17.9% |