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Shaanxi-based technology industrial company producing specialty materials or components.
Shaanxi-based technology industrial company producing specialty materials or components.
Moat: none
Headquarters: Shaanxi, China · Employees: 1,393
Size Shaanxi Huaqin Technology Industry (688281.SS) is a China Materials company (Industrial Specialties) with a market value of $2.50B, the 1032nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥43.67 on 6 Nov 2026.
Performance Over six months the shares fell 18.3%, against +3.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 31.0% over the last twelve months (peer median +12.9%); the operating margin is 15.4% (peer median 11.2%).
Valuation It trades at 34.7× forward earnings against a peer median of 31.9× (7th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is +3 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 1.4 points below its cost of capital (8.3% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.57B | CN¥1.24B | CN¥1.14B | CN¥912M | CN¥669M |
| Revenue growth | — | +9% | +24% | +36% | — |
| Gross profit | CN¥751M | CN¥502M | CN¥549M | CN¥517M | CN¥403M |
| EBITDA | n/a | CN¥329M | CN¥436M | CN¥200M | CN¥297M |
| Net income | CN¥334M | CN¥307M | CN¥414M | CN¥335M | CN¥333M |
| Free cash flow | CN¥215M | CN¥256M | -CN¥222M | -CN¥329M | -CN¥97.2M |
| Capital expenditure | CN¥255M | CN¥363M | CN¥602M | CN¥462M | CN¥332M |
| Total debt | CN¥1.07B | CN¥1.25B | CN¥798M | CN¥334M | CN¥7.06M |
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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 | 688281.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -15.1% | 8th highest of 21 |
| 6-month return | -18.3% | +3.8% | 7th lowest of 20 |
| Distance from 52-week high | -46.2% | -29.0% | 8th lowest of 21 |
| Revenue growth (TTM) | +31.0% | +12.9% | 3rd highest of 21 |
| Operating margin | 15.4% | 11.2% | 9th highest of 21 |
| Forward P/E | 34.7× | 31.9× | 7th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 27.5% | 17.8% | 5th most demanding of 14 |
| Growth delivered (Del g) | +24.7% | +13.4% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | +2.8 pp | -1.0 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -1.4 pp | +0.1 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shaanxi Huaqin Technology Industry 688281.SS | China | $2.50B | -18% | +31% | 15% | 34.7× | 27.5% | +24.7% |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | n/a | n/a | n/a |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 6.2× | n/a | n/a |
| Xizang Gaozheng Civil Explosives 002827.SZ | China | $2.53B | +92% | -1% | 12% | 108.9× | n/a | n/a |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 36.2× | 38.0% | +12.1% |
| Shenzhen Leading Semiconductor Industry 603991.SS | China | $2.60B | +12% | +996% | 10% | n/a | 21.7% | +12.0% |
| UFP Technologies UFPT | United States | $2.35B | +32% | +9% | 15% | 28.3× | 17.8% | +27.4% |
| Zeon 4205.T | Japan | $2.34B | +6% | +4% | 11% | 9.1× | -1.5% | +6.4% |
| DIC 4631.T | Japan | $2.68B | +25% | +6% | 7% | 9.3× | -1.0% | +8.5% |
| H.B. Fuller FUL | United States | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% | +4.5% |
| GCL Technology 3800.HK | Hong Kong | $2.71B | -30% | +25% | -22% | n/a | n/a | n/a |
| Henan Huanghe Whirlwind 600172.SS | China | $2.27B | +29% | +13% | -30% | n/a | n/a | n/a |
| Grindwell Norton GRINDWELL.NS | India | $2.25B | +16% | +14% | 16% | 39.5× | 37.8% | +13.4% |
| Jiangsu Pacific Quartz 603688.SS | China | $2.78B | -38% | +15% | 10% | 82.1× | n/a | n/a |
| Jiangsu Shemar Electric 603530.SS | China | $2.23B | -44% | +17% | 29% | 26.2× | 23.4% | +21.1% |
| Zhejiang Fulai New Material 605488.SS | China | $2.21B | +47% | +19% | 2% | 134.6× | 31.8% | +17.6% |
| Flat Glass 6865.HK | Hong Kong | $2.87B | -40% | -20% | -2% | n/a | 11.2% | +19.1% |
| WD-40 WDFC | United States | $2.97B | +6% | +11% | 16% | 33.9× | 2.2% | +7.1% |
| Carborundum Universal CARBORUNIV.NS | India | $2.10B | +4% | +12% | 7% | 44.5× | 43.4% | +14.6% |
| Anhui Jiangnan Chemical Industry 002226.SZ | China | $2.07B | -3% | +13% | 11% | 16.8× | -3.0% | +20.5% |
| Himadri Speciality Chemical HSCL.NS | India | $3.04B | -8% | +25% | 20% | 31.9× | n/a | n/a |