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Guangzhou maker of surface-treatment chemicals, mainly electroplating and plating chemicals for circuit boards, plus related plating equipment.
Guangzhou maker of surface-treatment chemicals, mainly electroplating and plating chemicals for circuit boards, plus related plating equipment.
Sells plating chemicals that circuit-board makers use up continuously in production, so revenue repeats as long as customers keep their lines running, and pairs them with plating equipment. Its chemicals must be qualified on each customer's line, which makes AI-server boards a key proving ground. It is also moving into equipment for battery current collectors.
Moat: narrow (customer qualification, process know-how). Plating chemistry is qualified line by line at PCB makers, which slows switching; scale is small versus global rivals.
Headquarters: Guangzhou, China · Employees: 822
Size Guangzhou Sanfu Newmaterials Technology (688359.SS) is a China Materials company (Chemicals: Major Diversified) with a market value of $870M, the 2580th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥58.22 on 6 Nov 2026.
Performance Over six months the shares fell 41.5%, against -21.7% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 8.2% over the last twelve months (peer median +3.2%); the operating margin is -6.6% (peer median 11.0%).
Valuation It trades at 8.25× book value against a peer median of 2.24× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 112.6%; Guangzhou Sanfu Newmaterials Technology delivers -3.7%, so the price asks more than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥575M | CN¥456M | CN¥616M | CN¥495M | CN¥362M |
| Revenue growth | — | -26% | +24% | +37% | — |
| Gross profit | CN¥185M | CN¥132M | CN¥199M | CN¥134M | CN¥101M |
| EBITDA | n/a | -CN¥34.7M | CN¥35.0M | -CN¥15.4M | -CN¥39.4M |
| Net income | -CN¥24.6M | -CN¥48.3M | -CN¥12.6M | -CN¥36.8M | -CN¥32.2M |
| Free cash flow | -CN¥64.4M | CN¥20.0M | -CN¥76.3M | -CN¥96.9M | -CN¥46.7M |
| Capital expenditure | CN¥12.0M | CN¥11.3M | CN¥11.3M | CN¥74.7M | CN¥72.8M |
| Total debt | CN¥353M | CN¥303M | CN¥365M | CN¥311M | CN¥109M |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Guangzhou Sanfu Newmaterials Technology 688359.SS | $870M | -41% | +8% | -4% | 8.25× | 112.6% |
| MKS MKSI | $13.0B | -39% | +16% | 16% | 4.35× | 57.5% |
| Guangdong Guanghua Sci-Tech 002741.SZ | $1.40B | -9% | +61% | 7% | 4.58× | 58.6% |
| Shanghai Skychem Technology 688603.SS | $1.22B | -29% | +38% | 10% | 6.49× | 115.2% |
| DuPont DD | $19.4B | -1% | -43% | 2% | 1.43× | 13.1% |
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 | 688359.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -41.8% | -14.8% | lowest of 21 |
| 6-month return | -41.5% | -21.7% | 5th lowest of 21 |
| Return on equity | -3.7% | 6.3% | 5th lowest of 21 |
| Price / book | 8.25× | 2.24× | 2nd most expensive of 21 |
| ROE the price implies | 112.6% | 21.6% | 2nd most demanding of 21 |
| ROE delivered | -3.7% | 6.2% | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Guangzhou Sanfu Newmaterials Technology 688359.SS | China | $870M | -41% | +8% | -4% | 8.25× | 112.6% | -3.7% |
| Suzhou Highfine Biotech 301393.SZ | China | $865M | -8% | +36% | 5% | 2.39× | 24.0% | 5.1% |
| Raghav Productivity Enhancers RPEL.NS | India | $864M | +133% | +38% | 28% | 29.04× | 493.3% | 28.4% |
| Polyrocks Chemical 688669.SS | China | $831M | +40% | -8% | -27% | 5.55× | 64.8% | -27.2% |
| Sanyo Chemical Industries 4471.T | Japan | $823M | +24% | 0% | 7% | 0.80× | 6.6% | 7.4% |
| Jiangxi Hungpai New Material 605366.SS | China | $821M | -47% | +2% | -6% | 2.04× | 18.9% | -6.3% |
| Zhejiang Huangma Technology 603181.SS | China | $935M | -30% | +7% | 12% | 1.67× | 16.8% | 11.8% |
| Xinyaqiang Silicon Chemistry 603155.SS | China | $788M | -6% | +6% | 4% | 2.34× | 19.2% | 4.3% |
| Jubilant Ingrevia JUBLINGREA.NS | India | $966M | -24% | +15% | 11% | 2.72× | 38.8% | 11.0% |
| Hubei Chaozhuo Aviation Technology 688237.SS | China | $776M | +6% | -1% | 1% | 4.26× | 24.5% | 1.0% |
| Jiangsu Zhengdan Chemical Industry 300641.SZ | China | $981M | -28% | -30% | 10% | 2.05× | 21.1% | 9.6% |
| Daxin Materials 5234.TW | Taiwan | $767M | -42% | +10% | 27% | 7.65× | 62.8% | 26.7% |
| JCU 4975.T | Japan | $759M | -26% | +2% | 18% | 2.14× | 22.0% | 17.6% |
| Caregen 214370.KS | South Korea | $1.01B | -73% | -8% | 10% | 6.29× | 33.0% | 10.5% |
| KH Neochem 4189.T | Japan | $732M | +20% | -11% | 13% | 1.55× | 8.0% | 12.8% |
| Victrex VCT.L | United Kingdom | $1.04B | +54% | -1% | -5% | 2.14× | 21.3% | -4.9% |
| Dalian Bio-Chem 603360.SS | China | $1.05B | -55% | 0% | 10% | 4.99× | 27.5% | 10.1% |
| Liaoning Oxiranchem,Inc 300082.SZ | China | $716M | -39% | +4% | 4% | 1.69× | 17.6% | 3.8% |
| Jiansu Huachang Chemical 002274.SZ | China | $679M | -25% | +9% | -3% | 0.87× | 7.4% | -3.3% |
| Ningxia Zhongke Biotechnology 600165.SS | China | $679M | -19% | +8% | -7% | 4.45× | 26.5% | -7.3% |
| Shandong Sanyuan Biotechnology 301206.SZ | China | $676M | -18% | +15% | 2% | 1.07× | 8.4% | 1.8% |