1. People's Republic of China Stocks

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    Basic Materials

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    Chemicals - Specialty
CSG Holding Co., Ltd.

CSG Holding Co., Ltd.

200012.SZ
CSG Holding Co., Ltd.CN flagShenzhen Stock Exchange
1.38
HKD
+0.01
- -
9.39BMarket Cap
CSG Holding Co., Ltd.
200012.SZ
(Shenzhen Stock Exchange)

Recent

price

1.38

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.56
2.75
2.27
2.56
2.33
2.49
2.93
3.59
3.51
3.32
3.42
4.48
4.92
5.93
5.21
4.37
4.37
Revenue per Share
0.48
0.39
0.09
0.51
0.29
0.18
0.26
0.27
0.15
0.17
0.25
0.5
0.66
0.54
0.09
0.04
-0.12
Basic EPS, GAAP
0.12
-0.37
0.11
-0.15
-0.16
0.08
0.31
0.41
0.48
0.53
0.52
0.68
-0.47
-0.49
-0.2
0.04
-0.44
Free Cash Flow per Basic Share
0.19
0.32
0.21
0.18
0.28
0.44
0.3
0.18
0.17
0.15
0.14
0.18
0.28
0.27
0.35
0.15
0.33
Dividend per Share
1.51
1.64
1.54
1.98
2.04
1.85
1.85
2.2
2.43
2.52
2.7
3.12
3.52
3.87
3.81
3.55
3.52
Book Value per Share
2.1
2.11
2.06
2.47
2.54
2.27
2.17
2.4
2.64
2.67
2.95
3.44
3.85
4.27
4.25
3.89
3.88
Tangible Book Value per Share
3,024
3,007
3,075
3,019
3,026
2,980
3,058
3,026
3,020
3,155
3,117
3,053
3,087
3,066
2,964
3,142
3,174
Basic Weighted Avg Shares
7,744
8,271
6,994
7,734
7,045
7,431
8,974
10,879
10,610
10,472
10,671
13,672
15,199
18,195
15,455
13,719
13,860
Sales/Revenue/Turnover
25.46
20.33
11.87
16.11
11.71
8.23
13.82
12.57
9.6
13.74
17.79
23.4
16.9
11.85
6.46
3.45
2.08
Operating Margin (%)
563
612
631
700
729
817
916
1,001
1,017
971
922
956
999
1,249
1,320
1,367
- -
Depreciation Expense
1,455
1,178
275
1,536
874
533
798
825
453
536
779
1,526
2,037
1,656
267
126
-392
Net Income, GAAP
14.39
18.34
19.36
13.43
4.45
14.62
15.89
16.83
13.29
15.36
26.57
18.6
10.33
5.25
14.89
- -
21.86
Effective Tax Rate (%)
18.79
14.25
3.93
19.86
12.4
7.17
8.89
7.59
4.27
5.12
7.3
11.16
13.4
9.1
1.73
0.92
-2.83
Profit Margin (%)
-730
-1,585
-2,332
-1,594
-4,240
-3,067
-4,310
-2,520
-1,267
-1,650
820
2,517
1,832
465
-481
-66
-884
Working Capital
2,707
3,071
2,698
2,294
384
2,200
1,439
1,554
2,316
1,320
2,848
3,466
4,357
6,237
6,173
6,906
6,013
LT Debt
6,759
7,306
7,268
8,401
8,653
7,649
8,129
8,780
9,449
9,866
10,616
11,863
13,376
14,537
14,003
13,555
13,672
Total Equity
17.17
12.06
5.46
8.65
6.1
3.93
7.42
7.65
5.77
7.9
9.25
16.81
12.58
9.52
3.71
- -
- -
Return on Invested Capital (%)
18.78
12.36
3.66
15.58
9.49
6.7
8.54
8.47
5.82
5.72
7.14
12.19
13.6
10.2
2.36
- -
2.82
Return on Capital (%)
39.8
24.86
5.69
28.64
14.37
9.12
14.3
13.43
6.47
7
9.52
17.03
20
14.56
2.3
1.12
-3.41
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
3,332
3,579
3,877
LT Borrowings
6,152
6,243
5,990
LT Finance Leases
22
25
23
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,071
3,071
3,071
Market Capitalization
6,336
5,980
5,214

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
9,495
10,254
9,910
Cash, Cash Equivalents & STI
3,518
3,559
3,235
Accounts Receivable, Net
1,687
2,041
2,027
Inventories
1,588
1,887
1,938
Total Current Liabilities
9,975
10,464
10,794
Payables & Accruals
- -
- -
- -
ST Debt
3,332
3,579
3,877
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.02%
5.26%
-3.2%
Free Cash Flow
5.76%
-64.27%
-121.2%
Net Income, GAAP
4.56%
-5.24%
-52.89%
Sales/Revenue/Turnover
7.28%
6.54%
-11.24%
Total Cash Common Dividend
-3.94%
10.52%
-54.51%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,947
4,132
3,758
3,619
15,455
2025
3,069
3,415
3,295
- -
13,719
2026
2,990
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
- -
- -
- -
0.09
2025
- -
- -
- -
- -
0.04
2026
-0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
- -
- -
- -
0.35
2025
0.02
- -
- -
- -
0.15
2026
0.02
- -
- -
- -
- -
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Business
CSG Holding Co., Ltd. engages in the research, development, production, and sales of energy-saving glass, solar photovoltaic products, and ultra-thin electronic glass and display devices. Its main product lines include high-quality float glass such as ultra-clear, ultra-wide, ultra-thick, and ultra-thin variants; architectural engineered glass including low-E glass, laminated glass, tempered glass, and anti-reflective glass; solar glass with properties of high solar transmittance and mechanical strength used in photovoltaic and thermal applications; ultra-thin electronic glass including medium-aluminum and high-aluminum glass for displays; and renewable energy products encompassing high-purity polysilicon, high-efficiency silicon wafers, crystalline silicon solar cells, and photovoltaic modules. The company also provides integrated services for development, construction, operation, and maintenance of photovoltaic power plants. Founded in 1984 and headquartered in Suzhou, China, CSG Holding operates primarily in China and serves both domestic and international markets, with well-recognized brands and patented technologies supporting its position as a leading glass manufacturer. In recent developments, the company has authorized a significant share buyback plan and reported robust sales from its subsidiaries, including large-scale deliveries of specialized glass products to industry giants such as LONGi Green Energy Technology. In October 2025, CSG Systems International, a related entity listed on NASDAQ, agreed to be acquired by NEC Corporation for approximately $2.9 billion, a move expected to expand NEC's digital and cloud offerings while complementing CSG's existing portfolio. This strategic alliance is poised to enhance technological innovation and market reach in the SaaS and software services space. Despite facing some revenue and profit fluctuations in 2025, CSG remains focused on product innovation and expanding its new energy business segments, continuing to leverage its extensive patent portfolio and national technology center accolades to maintain competitiveness in high-end architectural glass, photovoltaic materials, and ultra-thin electronic glass markets. CSG Holding is also noted for its contributions to national and industrial standards in glass manufacturing, boasting nearly 2,000 patents and technological expertise that drives industrial innovation. Its product suite supports urban landmark constructions and high-rise buildings in major Chinese cities, underpinning its reputation and market leadership in energy-efficient and high-performance glass solutions.