Zhejiang Kan Specialities Material Co., Ltd. Class A

Zhejiang Kan Specialities Material Co., Ltd. Class A

SSZSE:002012
6.02
CNY
-0.08
(-1.31%)
0.11EPS
89.61P/E
3.00BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.02
2.07
1.85
2.17
2.35
2.27
2.48
3.35
3.89
2.87
1.74
1.03
1.38
1.4
Basic EPS, GAAP
0.03
0.09
0.04
0.02
0.07
0.05
0.1
0.2
0.2
0.11
0.1
0.01
0.07
0.07
Free Cash Flow per Basic Share
-0.17
0.14
0.03
0.15
0.13
0.09
0.26
0.11
0.34
0.36
-0.06
0.1
0.06
- -
Dividend per Share
0.06
0.02
0.02
0.02
0.05
0.02
0.03
0.05
0.03
0.04
0.02
0.03
0.01
0.03
Book Value per Share
2.39
2.48
2.52
2.54
2.59
2.64
2.74
2.93
3.1
3.19
3.28
3.27
3.33
3.33
Tangible Book Value per Share
2.3
2.39
2.43
2.45
2.5
2.56
2.65
2.85
3.02
3.11
3.27
3.25
3.32
3.31
Basic Weighted Avg Shares
485
451
483
434
437
496
464
463
470
486
475
574
453
454
Sales/Revenue/Turnover
980
933
893
943
1,028
1,128
1,152
1,550
1,830
1,392
826
591
627
634
Operating Margin (%)
10.75
8.78
6.08
5.48
5.14
4.8
7.08
16.97
11.15
6.6
2.66
2.98
4.47
4.14
Depreciation Expense
84
88
90
87
88
89
86
85
107
85
38
30
22
- -
Net Income, GAAP
15
41
19
9
31
25
46
93
94
53
47
6
32
32
Effective Tax Rate (%)
69.38
16.77
0.43
22.6
6.78
7.11
7.42
23.96
13.6
0.21
11.16
13.14
13.34
10.4
Profit Margin (%)
1.49
4.35
2.16
0.92
2.98
2.2
4.03
5.97
5.14
3.84
5.75
0.97
5.06
5.12
Working Capital
414
430
465
574
553
576
767
958
1,165
1,058
1,085
1,064
1,015
1,100
LT Debt
- -
- -
- -
50
50
- -
- -
52
47
43
15
10
4
3
Total Equity
1,195
1,244
1,248
1,266
1,298
1,336
1,403
1,568
1,799
1,714
1,697
1,700
1,735
1,746
Return on Invested Capital (%)
0.36
3.18
1.55
0.95
2.81
2.64
4.39
9.61
7.54
3.8
2.93
1.4
3.12
3
Return on Capital (%)
1.9
2.88
1.39
0.46
2
1.4
2.21
1.51
2.47
1.96
2.41
-0.46
0.63
0.77
Return on Common Equity (%)
1.3
3.56
1.65
0.73
2.55
2.03
3.69
6.99
6.67
3.63
3.13
0.37
2.06
2.1

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
38
29
28
LT Borrowings
4
4
2
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
468
468
468
Market Capitalization
3,016
3,002
2,997

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,167
1,176
1,269
Cash, Cash Equivalents & STI
734
726
819
Accounts Receivable, Net
134
130
124
Inventories
174
183
237
Total Current Liabilities
152
152
168
Payables & Accruals
- -
- -
- -
ST Debt
38
29
28
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.49%
2.25%
2.06%
Free Cash Flow
14.63%
-46.99%
-52.31%
Net Income, GAAP
67.65%
62.3%
452.16%
Sales/Revenue/Turnover
-0.78%
-13.78%
6.17%
Total Cash Common Dividend
10.87%
-14.49%
-83.72%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
140
135
152
164
591
2025
140
135
- -
189
627
2026
154
156
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.02
0.01
-0.03
0.01
2025
0.01
0.01
- -
0.03
0.07
2026
0.01
0.02
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.03
- -
- -
0.03
2025
- -
- -
- -
- -
0.01
2026
- -
0.02
- -
- -
- -

Company Description

CEO
Xi Liu
Full Time Employees
281
Sector
Process industries
Industry
Pulp & paper
Address
No. 1008, Kaien Road Beijing BE China 323300
IPO Date
Jul 5, 2004
Business
Zhejiang Kan Specialities Material Co., Ltd. is a high-tech enterprise primarily engaged in the research, development, production, and sales of high-performance paper-based functional materials. The company manufactures a broad range of specialty paper products including electrolytic capacitor paper, double-sided adhesive tape base paper, battery paper, high air-penetration filter paper, vacuum cleaner dust bag paper, abrasion-resistant paper, crepe paper, tea filter paper, coffee filter paper, and cigarette tipping base paper. Its electrolytic capacitor paper series, a core product used in supercapacitors and aluminum electrolytic capacitors, is one of the company’s flagship offerings featuring multiple series spanning low, medium, and high voltage applications. The company also produces specialty food wrapping papers and medical packaging materials, serving diverse industries such as electronics, food, pharmaceuticals, and tobacco. It operates mainly in domestic Chinese markets with significant exports to South Asia, Southeast Asia, Eastern Europe, and the Americas. Zhejiang Kan is headquartered in Beijing, China, with a large production base in Quzhou City, Zhejiang Province, and covers an area of approximately 200,000 square meters. Founded in 1998 and publicly listed on the Shenzhen Stock Exchange since 2004, the company employs over 600 people and has established itself as a key player in China’s specialty paper industry. In recent years, Zhejiang Kan has pursued strategic expansions and operational enhancements including the acquisition of a 47.11% stake in Suichang County Chengping Secondary Power Station Co., Ltd., which marks a diversification into power assets. The company has also steadily advanced its internationalization strategy for its filter paper products, alongside deepening its product research and development capabilities, particularly for supercapacitor diaphragm materials. It has rolled out new series of specialty papers addressing high voltage capacitors and continues to innovate in high-value-added functional papers. Furthermore, Zhejiang Kan emphasizes high product quality, scientific research development, and stable market expansion as cornerstones of its growth strategy. The company maintains involvement in setting national industry standards for specialty paper and holds numerous awards for technological achievements and product quality. Its recent operational focus includes skill development initiatives for employees and continuous enhancement of production process efficiencies to support industrial growth and competitive positioning. Zhejiang Kan operates as a national high-tech enterprise and a recognized green factory, with a comprehensive product portfolio designed to serve electronic components manufacturing, industrial packaging, food and beverage filtration, and cigarette manufacturing sectors. It leads the market in electrolytic capacitor paper with a dominant domestic share and growing international presence, supported by 10 series and over 100 different varieties of electrolytic paper. The company’s strategic moves reflect its commitment to innovation, sustainability, and industry leadership within China and select international markets. Its parent and subsidiary relations, if any, are not prominently disclosed, indicating a primary focus on internal development and direct market engagement. This description captures the company’s core business, detailed product lines, recent strategic developments, geographic footprint, founding and operational basics, and industry standing as of the latest available data.