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Xi'an Manareco New Materials Co., Ltd. Class A

Xi'an Manareco New Materials Co., Ltd. Class A

SSSE:688550
32.97
CNY
+0.83
(+2.58%)
1.53EPS
36.22P/E
10.06BMarket Cap
Oct 30Next Earn
Xi'an Manareco New Materials Co., Ltd. Class A
SSE:688550
(Shanghai Stock Exchange)

Recent

price

32.97

P/E

ratio

36.22

div

yld

1.77%

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
2.62
3.07
3.9
4.15
5.35
6.39
7.38
7.05
11.96
11.64
8.82
8.4
9.7
9.55
Revenue per Share
-0.04
0.19
0.18
0.42
0.58
0.71
1.11
1.18
1.88
1.94
0.98
1.45
1.79
1.6
Basic EPS, GAAP
0.19
0.2
-0.17
0.24
-0.21
0.12
0.48
0.35
-1.78
-2.55
1.32
1.47
1.5
- -
Free Cash Flow per Basic Share
0.1
0.13
0.26
0.14
0.23
0.35
0.43
0.08
0.63
0.95
0.86
0.47
0.59
0.58
Dividend per Share
1.4
2.38
2.87
3.29
3.72
4.2
5.01
15.05
15.96
16.5
16.45
17.31
18.95
19.1
Book Value per Share
1.15
2.13
2.63
3.05
3.49
3.98
4.78
14.88
15.78
16.27
16.12
16.66
18.27
18.43
Tangible Book Value per Share
134
134
128
134
134
134
134
149
128
127
137
174
173
174
Basic Weighted Avg Shares
351
411
499
558
719
857
990
1,050
1,526
1,480
1,208
1,459
1,676
1,662
Sales/Revenue/Turnover
9.3
9.23
8.1
16.3
18.13
15.9
20.64
22.91
17.19
17.34
11.01
21.08
21.3
19.87
Operating Margin (%)
37
35
34
36
35
47
69
74
81
104
145
158
158
- -
Depreciation Expense
-6
25
23
56
78
95
148
175
240
247
134
252
309
278
Net Income, GAAP
- -
13.94
25.07
18.03
13.62
11.08
13.33
14.06
11.66
9.39
9.25
13.43
13.16
12.72
Effective Tax Rate (%)
-1.63
6.05
4.53
10.11
10.85
11.05
14.99
16.71
15.72
16.65
11.11
17.26
18.45
16.73
Profit Margin (%)
-148
30
49
126
129
100
104
2,081
1,885
1,572
1,492
1,483
1,803
1,868
Working Capital
- -
- -
- -
35
67
86
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
188
319
385
441
499
564
672
2,692
2,855
2,956
2,941
3,025
3,289
3,320
Total Equity
- -
3.32
3.12
7.25
10.75
11.2
15.69
9.78
8.24
8.18
4.58
8.48
9.83
8.69
Return on Invested Capital (%)
- -
4.68
3.32
7.83
12.17
12.91
17.1
10.08
8.22
8.11
4.55
8.43
9.79
8.68
Return on Capital (%)
- -
9.81
6.42
13.65
16.59
17.8
24.02
10.43
8.65
8.49
4.55
8.44
9.8
8.71
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
5
5
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
174
174
174
Market Capitalization
7,865
6,736
10,057

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,115
2,183
2,243
Cash, Cash Equivalents & STI
1,145
1,135
1,161
Accounts Receivable, Net
311
315
298
Inventories
519
571
611
Total Current Liabilities
311
306
376
Payables & Accruals
- -
- -
- -
ST Debt
- -
5
5
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
38.1%
4.13%
8.71%
Free Cash Flow
-91.75%
-121.58%
1.32%
Net Income, GAAP
38.85%
20.88%
22.87%
Sales/Revenue/Turnover
14.1%
11.93%
14.91%
Total Cash Common Dividend
65.29%
126.64%
25.23%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
328
365
400
365
1,459
2025
344
462
- -
375
1,676
2026
379
446
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.25
0.35
0.52
0.38
1.45
2025
0.26
0.69
- -
0.16
1.79
2026
0.25
0.49
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.35
0.12
- -
0.47
2025
- -
0.59
- -
- -
0.59
2026
- -
- -
- -
- -
- -
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Business
Xi'an Manareco New Materials Co., Ltd. (688550.SS) engages primarily in the research, development, production, and sales of specialized organic new materials for display technologies, pharmaceuticals, and electronic chemicals. The company offers a broad portfolio of core products and services, including monomer liquid crystals and mixed liquid crystals for TFT-LCD displays; organic light-emitting diode (OLED) materials covering luminous layer materials, universal layer materials, electron transport layers (ETL), hole injection layers (HIL), electron injection layers (EIL), and OLED intermediates; innovative pharmaceutical intermediates and active pharmaceutical ingredients (APIs) through its contract development and manufacturing organization (CDMO) services; and electronic chemicals such as semiconductor photoresist monomers, TFT flat layer photoresists, film material monomers, and polyimide monomers. Founded in 1999 and headquartered in the Xi'an High-tech Industries Development Zone, China, the company operates a "One Headquarters, Multiple Bases" model with facilities including Weinan Haitai for pilot production, Pucheng Haitai for core production, Ruilian Pharmaceutical for APIs, Manareco Japan for pharmaceutical market development, and capacity reserves in Dali Ruilian and Dali Haitai; it serves domestic and international markets, including strategic suppliers to Merck, JNC, Idemitsu, DuPont, Bayi Space, Hecheng Display, and Slichem, with applications in OLED displays, TFT-LCD panels, and pharmaceutical formulations. Recent developments include increasing its stake to 20% in Idemitsu Kosan's China-based OLED materials unit for approximately CNY 76.4 million in June 2024 to expand OLED intermediate and stack materials business; completing an equity buyback of 2.62 million shares (1.49% of outstanding) for CNY 86.5 million announced in March 2024; advancing Ruilian Pharmaceutical's API project with the first-phase workshop completed and Drug Production License obtained, pursuing GMP certification for an integrated intermediates-to-APIs CDMO chain; and reporting first-half 2025 revenue of CNY 806 million (up 16.27% year-over-year) and net profit of CNY 162 million (up 69.93%), driven by pharmaceutical sector growth and improved margins.