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Chinese industrial-gas producer supplying onsite oxygen, nitrogen and specialty gases to electronics and manufacturing plants.
Chinese industrial-gas producer supplying onsite oxygen, nitrogen and specialty gases to electronics and manufacturing plants.
Sells gas in three ways: piped from onsite plants beside a customer's factory under long-term contracts, delivered as liquid by tanker, or in cylinders. The onsite contracts and the plants' proximity keep customers. It is Jiangsu-based and expanding in electronic specialty gases used in chip making.
In one line: A smaller, China-focused Air Products.
Moat: narrow (installed base, switching costs). Onsite gas plants are built next to customer factories under long-term supply contracts.
Headquarters: Shanghai, China · Employees: 2,914
Size Jinhong Gas (688106.SS) is a China Materials company (Chemicals: Specialty) with a market value of $1.17B, the 2018th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥20.22 on 6 Nov 2026.
Performance Over six months the shares fell 42.0%, against -21.8% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 15.1% over the last twelve months (peer median +3.3%); the operating margin is 2.5% (peer median 12.0%).
Valuation It trades at 67.0× forward earnings against a peer median of 14.3× (2nd most expensive of 13).
Capital Return on invested capital runs 3.4 points below its cost of capital (8.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.10B | CN¥2.76B | CN¥2.52B | CN¥2.42B | CN¥1.96B |
| Revenue growth | — | +10% | +4% | +23% | — |
| Gross profit | CN¥1.13B | CN¥728M | CN¥734M | CN¥840M | CN¥637M |
| EBITDA | n/a | CN¥610M | CN¥579M | CN¥634M | CN¥475M |
| Net income | CN¥31.7M | CN¥132M | CN¥201M | CN¥315M | CN¥229M |
| Free cash flow | -CN¥371M | -CN¥435M | -CN¥483M | -CN¥604M | -CN¥326M |
| Capital expenditure | CN¥1.04B | CN¥977M | CN¥1.07B | CN¥1.07B | CN¥750M |
| Total debt | CN¥3.13B | CN¥3.38B | CN¥2.60B | CN¥2.05B | CN¥1.09B |
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 |
|---|---|---|---|---|---|---|
| Jinhong Gas 688106.SS | $1.17B | -42% | +15% | 2% | 67.0× | n/a |
| Air Liquide AI.PA | $134B | +15% | -1% | 21% | 29.0× | 18.1% |
| Linde LIN | $237B | +5% | +8% | 27% | 27.0× | 14.4% |
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 | 688106.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.4% | -8.9% | 6th lowest of 21 |
| 6-month return | -42.0% | -21.8% | 3rd lowest of 21 |
| Distance from 52-week high | -61.0% | -45.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +15.1% | +3.3% | 4th highest of 21 |
| Operating margin | 2.5% | 12.0% | 4th lowest of 21 |
| Forward P/E | 67.0× | 14.3× | 2nd most expensive of 13 |
| ROIC minus cost of capital | -3.4 pp | -0.9 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jinhong Gas 688106.SS | China | $1.17B | -42% | +15% | 2% | 67.0× | n/a | n/a |
| Hebei Jinniu Chemical Industry 600722.SS | China | $1.16B | -16% | -1% | 18% | n/a | 28.1% | +3.0% |
| Hunan Kaimeite Gases 002549.SZ | China | $1.18B | -43% | -7% | -5% | 38.9× | n/a | n/a |
| Shandong Boyuan Advanced Materials 301617.SZ | China | $1.15B | -4% | +11% | 12% | n/a | 44.7% | +22.5% |
| Shin-Etsu Polymer 7970.T | Japan | $1.15B | +5% | +10% | 13% | 13.2× | -2.9% | +8.4% |
| Chemtrade Logistics Income Fund CHE-UN.TO | Canada | $1.19B | -17% | +12% | 12% | 9.5× | -0.8% | +7.7% |
| Toagosei 4045.T | Japan | $1.19B | +3% | +2% | 9% | 14.4× | n/a | n/a |
| Ecovyst ECVT | United States | $1.15B | -26% | +20% | 12% | 14.1× | 8.0% | +7.8% |
| Vinati Organics VINATIORGA.NS | India | $1.14B | -26% | +11% | 20% | 23.8× | 24.0% | +18.2% |
| ISE Chemicals 4107.T | Japan | $1.20B | -30% | 0% | 22% | 36.0× | 18.6% | +18.4% |
| Anhui Hwasu 600935.SS | China | $1.13B | -22% | -10% | -8% | n/a | 28.1% | -1.0% |
| Tongyu Advanced Materials (Guangdong) 301630.SZ | China | $1.21B | -19% | +26% | 18% | n/a | 35.9% | +26.0% |
| Yunnan Energy Investment 002053.SZ | China | $1.21B | -24% | -24% | 20% | 11.6× | n/a | n/a |
| Jiangsu Sopo Chemical 600746.SS | China | $1.12B | -23% | +6% | 5% | n/a | n/a | n/a |
| Shanghai Skychem Technology 688603.SS | China | $1.22B | -29% | +38% | 19% | 44.6× | n/a | n/a |
| Zhejiang Jiahua Energy Chemical Industry 600273.SS | China | $1.23B | -22% | +4% | 5% | 7.8× | -6.3% | +12.9% |
| Nan Pao Resins Chemical 4766.TW | Taiwan | $1.24B | -6% | +3% | 16% | 13.3× | -8.7% | +8.3% |
| Shanghai Chlor-Alkali Chemical 600618.SS | China | $1.24B | -29% | +2% | 6% | n/a | -0.4% | +9.9% |
| Anhui Shenjian New Materials 002361.SZ | China | $1.25B | -54% | -4% | -3% | n/a | n/a | n/a |
| Guizhou Redstar Developing 600367.SS | China | $1.25B | +14% | +1% | 7% | n/a | 26.8% | +9.1% |
| Hubei Heyuan Gas 002971.SZ | China | $1.09B | +9% | +12% | 7% | 138.4× | n/a | n/a |