Keshun Waterproof Technology Co.,Ltd.

Keshun Waterproof Technology Co.,Ltd.

300737.SZ
Keshun Waterproof Technology Co.,Ltd.CN flagShenzhen Stock Exchange
8.15
CNY
+0.56
- -
9.05BMarket Cap
Keshun Waterproof Technology Co.,Ltd.
300737.SZ
(Shenzhen Stock Exchange)

Recent

price

8.64

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.75
1.8
1.78
1.95
2.5
2.88
4.27
5.75
6.89
6.45
6.82
7.7
5.42
6.5
Revenue per Share
0.08
0.13
0.24
0.35
0.27
0.17
0.33
0.82
0.6
0.15
-0.29
0.04
-0.48
- -
Basic EPS, GAAP
-0.19
-0.19
-0.13
-0.18
-0.1
-0.5
-0.3
-0.05
0.17
-0.08
-0.27
0.07
0.13
-0.28
Free Cash Flow per Basic Share
0.02
0.01
0.01
0.04
0.05
0.05
0.05
0.03
0.13
0.07
0.1
0.15
0.39
0.46
Dividend per Share
0.32
0.39
0.53
0.81
0.96
1
1.24
2.03
2.91
2.94
2.66
3.37
1.84
2.62
Book Value per Share
0.32
0.47
0.74
1.58
1.63
2.59
2.74
3.69
4.27
4.4
4.23
5.38
3.38
4.36
Tangible Book Value per Share
474
589
675
756
816
1,076
1,090
1,086
1,129
1,188
1,164
886
1,115
1,013
Basic Weighted Avg Shares
831
1,059
1,200
1,473
2,039
3,097
4,652
6,238
7,771
7,661
7,944
6,829
6,044
6,578
Sales/Revenue/Turnover
9.2
11.96
19.98
23.68
15.27
8.84
11.76
22.02
14.65
6.37
5.48
3.72
5.15
3.13
Operating Margin (%)
5
8
14
16
24
41
65
99
161
214
259
277
281
- -
Depreciation Expense
40
79
165
264
218
185
363
890
673
178
-338
35
-535
-3
Net Income, GAAP
27.24
20.81
17.33
16.31
16.6
16.99
15.81
14.3
18.02
11.28
- -
50.77
- -
203.47
Effective Tax Rate (%)
4.76
7.42
13.75
17.95
10.68
5.98
7.81
14.27
8.66
2.33
-4.25
0.52
-8.86
-0.04
Profit Margin (%)
43
122
270
745
741
1,939
1,710
2,341
3,375
3,385
3,854
3,784
2,295
3,060
Working Capital
- -
- -
18
22
18
126
74
222
867
716
2,513
2,751
2,467
2,460
LT Debt
175
322
560
1,258
1,443
2,910
3,131
4,152
4,968
5,618
5,115
5,067
4,052
4,708
Total Equity
- -
21.45
28.29
25.35
17.24
9.35
13.29
27.83
17.23
6.55
- -
1.54
- -
-2.15
Return on Invested Capital (%)
- -
22.93
31.82
37.16
26.36
17.24
22.67
36.55
18.2
4.99
- -
1.3
- -
-0.78
Return on Capital (%)
- -
41.34
56.32
54.57
31.24
19.99
29.98
50.13
24.52
5.25
-10.23
1.17
-21.27
-0.1
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
1,705
2,341
3,853
LT Borrowings
2,730
2,464
2,439
LT Finance Leases
21
23
22
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,110
1,110
1,110
Market Capitalization
5,347
4,911
4,881

Working Capital

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
9,920
10,082
11,078
Cash, Cash Equivalents & STI
3,683
3,623
4,639
Accounts Receivable, Net
4,073
4,226
4,360
Inventories
502
563
561
Total Current Liabilities
6,136
6,426
8,018
Payables & Accruals
- -
- -
- -
ST Debt
1,705
2,341
3,853
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
28.42%
0.56%
-20.03%
Free Cash Flow
6.19%
-72.56%
132.01%
Net Income, GAAP
-183.89%
-421.57%
-1,609.99%
Sales/Revenue/Turnover
19.87%
0.26%
-11.49%
Total Cash Common Dividend
90.19%
122.24%
218.21%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,485
1,986
1,665
1,693
6,829
2025
1,395
1,825
1,341
- -
6,044
2026
1,456
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
- -
- -
- -
0.04
2025
0.04
- -
- -
- -
-0.48
2026
0.06
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
- -
- -
- -
0.15
2025
0.01
- -
- -
- -
0.39
2026
- -
- -
- -
- -
- -
Business
Keshun Waterproof Technology Co., Ltd. specializes in the research, development, manufacturing, and sales of advanced waterproofing materials and solutions. Its core product portfolio includes waterproof membranes such as Thermoplastic Polyolefin (TPO) membranes, elastomer (SBS) modified bitumen membranes, self-adhesive polymer-modified bitumen membranes, and HDPE geomembranes for applications including construction, aquaculture pond liners, and mining wastewater anti-seepage lining. The company also produces a variety of waterproof coatings, mortars, sealing materials, industrial coatings, and projection and drainage boards. Operating primarily in the building materials industry, its products serve sectors like architectural waterproofing, civil and commercial buildings, tunnels, and specialized infrastructure projects. Founded in 1996 and headquartered in Suzhou, China, Keshun has established 24 wholly-owned subsidiaries and multiple branches across major Chinese cities including Shenzhen, Guangzhou, Beijing, Shanghai, and others. It maintains an extensive distribution network with over 1,000 channels in China and exports products to regions including Southeast Asia, Europe, North America, the Middle East, and Australia. The company is recognized as one of China’s top waterproof material enterprises and holds a leading market share domestically. Recent major developments include a strategic investment of RMB 240 million in an industrial merger and acquisition fund to drive global expansion and accelerate innovation in areas such as next-generation information technology, new materials, and advanced manufacturing. In January 2025, Keshun acquired a 93.54% stake in Fengze Intelligent Equipment Co., Ltd. for approximately CNY 560 million to enhance its technical capabilities. The company also significantly increased investment in digital transformation and e-commerce platforms, boosting direct sales growth by 30% and improving operational efficiency through automated production lines that increased capacity by 20%. Keshun allocates substantial resources to research and development, recently investing approximately ¥50 million to advance eco-friendly waterproof products and smart material technologies, including partnerships with leading universities. In 2024, Keshun reported revenues of approximately RMB 600 million with a consistent net profit margin around 15%, supported by a diversified product portfolio and strong export performance representing nearly 40% of sales. Its business strategy focuses on sustainable innovation, quality assurance, and expanding international footprint to sustain growth across multiple sectors such as construction, automotive, and electronics. Keshun remains committed to delivering comprehensive waterproofing solutions that cover over 100 product varieties and systems, maintaining a robust customer base among major real estate developers and construction firms throughout China and globally.