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Employees: 1,672
Size Xi'an Manareco New Materials (688550.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $850M, the 2621st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥32.17 on 6 Nov 2026.
Performance Over six months the shares fell 19.1%, against -17.4% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +7.3%); the operating margin is 12.5% (peer median 3.2%).
Valuation It trades at 15.6× forward earnings against a peer median of 37.1× (3rd cheapest of 9).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.3 points above its cost of capital (8.7% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.63B | CN¥1.66B | CN¥1.45B | CN¥1.20B | CN¥1.47B |
| Revenue growth | — | +14% | +21% | -18% | — |
| Gross profit | CN¥703M | CN¥679M | CN¥588M | CN¥369M | CN¥523M |
| EBITDA | n/a | CN¥478M | CN¥410M | CN¥250M | CN¥338M |
| Net income | CN¥202M | CN¥309M | CN¥252M | CN¥134M | CN¥247M |
| Free cash flow | CN¥229M | CN¥266M | CN¥273M | CN¥196M | -CN¥299M |
| Capital expenditure | CN¥98.6M | CN¥85.4M | CN¥163M | CN¥268M | CN¥517M |
| Total debt | CN¥85.0M | CN¥7.36M | CN¥47.9M | CN¥108M | CN¥98.5M |
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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 | 688550.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | -11.6% | 10th highest of 21 |
| 6-month return | -19.1% | -17.4% | 9th lowest of 20 |
| Distance from 52-week high | -48.9% | -46.7% | 10th lowest of 21 |
| Revenue growth (TTM) | -2.2% | +7.3% | 7th lowest of 21 |
| Operating margin | 12.5% | 3.2% | 4th highest of 21 |
| Forward P/E | 15.6× | 37.1× | 3rd cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 7.4% | 26.5% | 3rd least demanding of 7 |
| Growth delivered (Del g) | +9.8% | +13.8% | lowest of 7 |
| Hurdle (Req g minus delivered) | -2.4 pp | +10.6 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | +2.3 pp | -6.8 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xi'an Manareco New Materials 688550.SS | China | $850M | -19% | -2% | 13% | 15.6× | 7.4% | +9.8% |
| Shanghai Ruking Technologies 301525.SZ | China | $838M | -13% | -2% | 1% | 43.8× | n/a | n/a |
| Dianguang Explosion-proof Technology 002730.SZ | China | $832M | -54% | -6% | 6% | n/a | n/a | n/a |
| Fujian Acetron New Materials 300706.SZ | China | $873M | -11% | +19% | 3% | n/a | n/a | n/a |
| Evolv Technologies EVLV | United States | $826M | -35% | +42% | -20% | n/a | n/a | n/a |
| Wuhan Zhongyuan Huadian Science & Technology 300018.SZ | China | $825M | -17% | +3% | 17% | n/a | 25.8% | +10.0% |
| Anhui Landun Photoelectron 300862.SZ | China | $814M | +31% | -27% | -23% | n/a | n/a | n/a |
| Feitian Technologies 300386.SZ | China | $909M | -17% | -20% | -20% | n/a | n/a | n/a |
| RoboSense Technology Company 2498.HK | Hong Kong | $914M | -55% | +32% | -22% | n/a | n/a | n/a |
| Cosmo AM&T 005070.KS | South Korea | $789M | -45% | +8% | 2% | 176.2× | 29.5% | +17.4% |
| Catapult Sports CAT.AX | Australia | $788M | +15% | +19% | -17% | n/a | 27.1% | +18.0% |
| Changchun Zhiyuan New Energy Equipment 300985.SZ | China | $786M | +22% | +55% | -5% | n/a | n/a | n/a |
| Toshiba Tec 6588.T | Japan | $918M | -2% | +7% | 3% | 11.3× | n/a | n/a |
| Jiangsu Wuyang Automation Control Technology 300420.SZ | China | $921M | +51% | -10% | 5% | n/a | n/a | n/a |
| Sidea Semiconductor Equipment (Shenzhen) 301629.SZ | China | $924M | -39% | -27% | 0% | 147.2× | n/a | n/a |
| Riken Keiki 7734.T | Japan | $930M | -7% | +11% | 22% | 13.8× | 2.6% | +11.4% |
| Keytop Parking 2272.HK | Hong Kong | $761M | n/a | +4% | 11% | n/a | n/a | n/a |
| Transcat TRNS | United States | $955M | +33% | +20% | 5% | 45.0× | 30.3% | +13.9% |
| RNBC New Energy 301667.SZ | China | $755M | -59% | +24% | 6% | n/a | n/a | n/a |
| Suzhou Sushi Testing 300416.SZ | China | $957M | -26% | +8% | 15% | 23.0× | 2.6% | +13.7% |
| Park Systems 140860.KS | South Korea | $965M | -35% | -6% | 12% | 30.3× | n/a | n/a |