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Chinese biotechnology company using industrial fermentation to make bio-based chemicals, including long-chain diacids and bio-based nylon (PA56).
Chinese biotechnology company using industrial fermentation to make bio-based chemicals, including long-chain diacids and bio-based nylon (PA56).
Produces its chemicals by fermentation, growing engineered microbes on plant sugars, and sells them as ingredients to makers of nylon, fragrances, coatings and other materials. Long-chain diacids are the established earner, while bio-based nylon is a newer material still being introduced to textile and plastics customers.
In one line: A Chinese Genomatica/DuPont Tate & Lyle for bio-based materials.
Moat: narrow (IP / patents, process know-how). Proprietary synthetic-biology/fermentation strains and processes that are difficult to replicate.
Headquarters: Shanghai, China · Employees: 1,761
Size Cathay Biotech (688065.SS) is a China Materials company (Chemicals: Specialty) with a market value of $4.22B, the 610th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥39.03 on 6 Nov 2026.
Performance Over six months the shares fell 18.9%, against -21.5% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 9.4% over the last twelve months (peer median +12.9%); the operating margin is 17.8% (peer median 10.6%).
Valuation It trades at 38.8× forward earnings against a peer median of 18.4× (5th most expensive of 21).
Capital Return on invested capital runs 5.8 points below its cost of capital (9.5% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.59B | CN¥3.29B | CN¥2.95B | CN¥2.11B | CN¥2.43B |
| Revenue growth | — | +11% | +40% | -13% | — |
| Gross profit | CN¥1.42B | CN¥1.06B | CN¥849M | CN¥554M | CN¥783M |
| EBITDA | n/a | CN¥800M | CN¥676M | CN¥440M | CN¥650M |
| Net income | CN¥637M | CN¥561M | CN¥489M | CN¥367M | CN¥553M |
| Free cash flow | -CN¥270M | -CN¥326M | -CN¥22.4M | -CN¥1.00B | -CN¥3.39B |
| Capital expenditure | CN¥1.03B | CN¥743M | CN¥843M | CN¥1.57B | CN¥4.20B |
| Total debt | CN¥891M | CN¥503M | CN¥1.90B | CN¥1.81B | CN¥1.13B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cathay Biotech 688065.SS | $4.22B | -19% | +9% | 18% | 38.8× | n/a |
| Evonik Industries EVK.DE | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% |
| Arkema AKE.PA | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% |
| Toray Industries 3402.T | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% |
| Ube 4208.T | $1.94B | +33% | +3% | 4% | 12.0× | n/a |
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 | 688065.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | -5.6% | 6th highest of 21 |
| 6-month return | -18.9% | -21.5% | 10th highest of 20 |
| Distance from 52-week high | -39.5% | -38.9% | 10th lowest of 21 |
| Revenue growth (TTM) | +9.4% | +12.9% | 10th lowest of 21 |
| Operating margin | 17.8% | 10.6% | 7th highest of 21 |
| Forward P/E | 38.8× | 18.4× | 5th most expensive of 21 |
| ROIC minus cost of capital | -5.8 pp | +2.7 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Red Avenue New Materials 9607.HK | Hong Kong | $4.35B | n/a | +30% | 9% | 26.9× | n/a | n/a |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Mitsubishi Gas Chemical 4182.T | Japan | $3.78B | -31% | +3% | 8% | 10.6× | n/a | n/a |
| Novoray 688300.SS | China | $3.76B | -9% | +23% | 26% | 52.7× | 47.6% | +22.6% |
| Ningbo Shanshan 600884.SS | China | $3.71B | -34% | +30% | 9% | 14.4× | 4.5% | +21.3% |
| Cabot CBT | United States | $3.67B | -17% | +1% | 14% | 10.9× | -3.2% | +1.9% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |