Employees: 453
Size Zhejiang Hisun Biomaterials (688203.SS) is a China Materials company (Chemicals: Specialty) with a market value of $473M, the 3987th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.69 on 6 Nov 2026.
Performance Over six months the shares gained 15.8%, against -16.3% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 46.6% over the last twelve months (peer median +11.5%); the operating margin is 3.7% (peer median 4.2%).
Valuation It trades at 56.0× forward earnings against a peer median of 10.5× (3rd most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +27%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points below its cost of capital (8.1% WACC).
Next results Next results expected around 20 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.18B | CN¥851M | CN¥845M | CN¥753M | CN¥601M |
| Revenue growth | — | +1% | +12% | +25% | — |
| Gross profit | CN¥204M | CN¥81.1M | CN¥98.3M | CN¥92.9M | CN¥69.6M |
| EBITDA | n/a | CN¥86.8M | CN¥102M | CN¥90.8M | CN¥68.8M |
| Net income | CN¥32.4M | CN¥9.87M | CN¥35.5M | CN¥43.5M | CN¥47.0M |
| Free cash flow | CN¥131M | -CN¥106M | -CN¥254M | -CN¥50.9M | -CN¥88.6M |
| Capital expenditure | CN¥75.0M | CN¥127M | CN¥293M | CN¥214M | CN¥225M |
| Total debt | CN¥281M | CN¥336M | CN¥331M | CN¥381M | CN¥333M |
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| Measure | 688203.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.0% | -11.8% | 8th lowest of 21 |
| 6-month return | +15.8% | -16.3% | 5th highest of 21 |
| Distance from 52-week high | -40.5% | -37.5% | 9th lowest of 21 |
| Revenue growth (TTM) | +46.6% | +11.5% | 2nd highest of 21 |
| Operating margin | 3.7% | 4.2% | 11th highest of 21 |
| Forward P/E | 56.0× | 10.5× | 3rd most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 16.5% | 15.5% | 8th most demanding of 16 |
| Growth delivered (Del g) | +26.6% | +10.5% | 4th highest of 16 |
| Hurdle (Req g minus delivered) | -10.1 pp | -7.3 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | -2.0 pp | -2.1 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Hisun Biomaterials 688203.SS | China | $473M | +16% | +47% | 4% | 56.0× | 16.5% | +26.6% |
| Shaanxi Xinghua Chemistry 002109.SZ | China | $473M | -39% | +20% | -1% | n/a | 2.0% | +13.0% |
| Gujarat Alkalies & Chemicals GUJALKALI.NS | India | $476M | -23% | +7% | 2% | n/a | 39.8% | +12.5% |
| Shanghai Huide Science & Technology 603192.SS | China | $476M | -15% | +2% | 3% | n/a | 15.5% | +10.5% |
| Tian Jin Bohai Chemical 600800.SS | China | $479M | -37% | -24% | -20% | n/a | n/a | n/a |
| Soulbrain 036830.KS | South Korea | $480M | -55% | +16% | -3% | n/a | n/a | n/a |
| Laxmi Organic Industries LXCHEM.NS | India | $480M | 0% | +5% | 6% | 25.1× | n/a | n/a |
| Kente Catalysts 603120.SS | China | $465M | +6% | +9% | 12% | n/a | 18.3% | -8.9% |
| Dymatic Chemicals 002054.SZ | China | $465M | -25% | +21% | 8% | n/a | -0.8% | +12.9% |
| Jiangxi Chenguang New Materials 605399.SS | China | $482M | -30% | +15% | -9% | 129.1× | n/a | n/a |
| Lee & Man Chemical 0746.HK | Hong Kong | $465M | -9% | +3% | 18% | 6.1× | -8.5% | +3.9% |
| Nantong Jiangtian Chemical 300927.SZ | China | $463M | -29% | +51% | 5% | n/a | 18.0% | +29.0% |
| JSP 7942.T | Japan | $462M | +29% | +14% | 8% | 9.9× | -4.0% | +7.2% |
| FuJian Nox Bellcow 300132.SZ | China | $459M | -37% | +18% | 7% | 17.9× | 3.1% | -10.5% |
| Guangdong Tianan New Material 603725.SS | China | $489M | +9% | -12% | 2% | n/a | 21.7% | +29.0% |
| Ho Tung Chemical 1714.TW | Taiwan | $459M | +67% | +36% | 10% | n/a | -17.3% | -1.5% |
| Braskem S.A. Sponsored ADR Pfd BAK | United States | $457M | -70% | -1% | 1% | 1.0× | n/a | n/a |
| Savita Oil Technologies SOTL.NS | India | $491M | +61% | +26% | 10% | n/a | 17.5% | +16.8% |
| Valhi VHI | United States | $456M | +11% | +3% | 1% | 4.6× | 32.2% | +2.3% |
| Advansix ASIX | United States | $454M | -17% | +8% | -1% | 90.9× | 55.3% | +5.6% |
| Tidewater Renewables LCFS.TO | Canada | $495M | +97% | +24% | 20% | 10.5× | -3.0% | +126.4% |