Employees: 1,963
Size Guizhou Zhenhua E-Chem (688707.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $754M, the 2895th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.88 on 6 Nov 2026.
Performance Over six months the shares fell 40.2%, against -6.7% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 14.8% over the last twelve months (peer median +7.1%); the operating margin is -17.3% (peer median 2.5%).
Valuation It trades at 3.2× enterprise value to sales against a peer median of 4.8× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.6 points below its cost of capital (9.8% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.80B | CN¥1.43B | CN¥1.96B | CN¥6.87B | CN¥13.9B |
| Revenue growth | — | -27% | -71% | -51% | — |
| Gross profit | CN¥86.2M | -CN¥213M | -CN¥289M | CN¥433M | CN¥1.88B |
| EBITDA | n/a | -CN¥144M | -CN¥365M | CN¥364M | CN¥1.64B |
| Net income | -CN¥384M | -CN¥432M | -CN¥528M | CN¥103M | CN¥1.27B |
| Free cash flow | CN¥428M | CN¥86.7M | -CN¥1.54B | CN¥1.36B | CN¥315M |
| Capital expenditure | CN¥47.9M | CN¥79.3M | CN¥150M | CN¥259M | CN¥845M |
| Total debt | CN¥2.73B | CN¥2.37B | CN¥3.01B | CN¥4.81B | CN¥5.60B |
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| Measure | 688707.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.2% | -2.9% | 6th lowest of 21 |
| 6-month return | -40.2% | -6.7% | 5th lowest of 21 |
| Distance from 52-week high | -47.6% | -30.7% | 8th lowest of 21 |
| Revenue growth (TTM) | +14.8% | +7.1% | 7th highest of 21 |
| Operating margin | -17.3% | 2.5% | 6th lowest of 21 |
| EV / Sales | 3.2× | 4.8× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.7% | 4.5% | 5th least demanding of 9 |
| Growth delivered (Del g) | +6.6% | +15.0% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | -2.9 pp | -11.6 pp | 2nd most demanding of 9 |
| ROIC minus cost of capital | -11.6 pp | -4.8 pp | 5th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guizhou Zhenhua E-Chem 688707.SS | China | $754M | -40% | +15% | -17% | 3.2× | 3.7% | +6.6% |
| SEP Analytical (Shanghai) 301228.SZ | China | $757M | -24% | +5% | -9% | 12.3× | n/a | n/a |
| Gubra A/S GUBRA.CO | Denmark | $746M | -6% | -90% | -72% | 15.7× | n/a | n/a |
| Shenzhen L&A Design 300949.SZ | China | $744M | +103% | 0% | -28% | 12.3× | n/a | n/a |
| Msscorps 6830.TW | Taiwan | $744M | -57% | +17% | 3% | 11.1× | n/a | n/a |
| Xi'an Xice Testing Technology 301306.SZ | China | $766M | -53% | +21% | -27% | 15.7× | n/a | n/a |
| Zhejiang Zhongxin Fluoride Materials 002915.SZ | China | $767M | -17% | +8% | 2% | 3.9× | n/a | n/a |
| China Machinery Huanyu Certification & Inspection 301508.SZ | China | $738M | -20% | +10% | 21% | 4.6× | 6.8% | +15.4% |
| Dark Horse Technology 300688.SZ | China | $770M | +18% | -32% | -33% | 44.5× | n/a | n/a |
| Credit CCP.AX | Australia | $738M | +37% | +7% | 26% | 2.6× | 2.1% | +11.1% |
| Daqian Ecology & Environment 603955.SS | China | $776M | +21% | +217% | -53% | 14.9× | n/a | n/a |
| Worldline WLN.PA | France | $732M | +9% | -18% | 2% | 0.7× | 17.6% | +10.4% |
| Shandong Link Science and Technology 001207.SZ | China | $777M | -7% | +7% | 13% | 1.8× | -4.6% | +18.9% |
| Wuxi Jinyang Precision Manufacturing 301210.SZ | China | $729M | +8% | +57% | 6% | 2.5× | n/a | n/a |
| Damon Technology 688360.SS | China | $779M | +8% | +19% | 7% | 3.0× | 12.3% | +17.1% |
| Shaanxi Lighte Optoelectronics Material 688150.SS | China | $787M | -44% | +14% | 39% | 7.7× | n/a | n/a |
| Funai Soken 9757.T | Japan | $721M | +5% | +6% | 26% | 2.9× | -8.3% | +5.9% |
| Suzhou Delphi Laser 688170.SS | China | $717M | -23% | +20% | 1% | 5.1× | n/a | n/a |
| Huatu Cendes 300492.SZ | China | $800M | -44% | -8% | -2% | 1.7× | 17.6% | +91.2% |
| IPH IPH.AX | Australia | $709M | +13% | +1% | 18% | 1.9× | -7.3% | +14.6% |
| AXISCADES Technologies AXISCADES.NS | India | $802M | -17% | +5% | 10% | 6.9× | n/a | n/a |