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    Process industries

  3. •

    Industrial specialties
Jiangxi Black Cat Carbon Black Co., Ltd. Class A

Jiangxi Black Cat Carbon Black Co., Ltd. Class A

SSZSE:002068
7.90
CNY
+0.18
(+2.33%)
-0.65EPS
6.46BMarket Cap
Oct 29Next Earn
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
10.49
12.77
9.22
7.45
10.57
10.86
9
7.65
10.85
13.45
12.87
13.79
11.93
11.62
Basic EPS, GAAP
0.05
0.2
0.03
0.16
0.73
0.55
-0.38
0.13
0.59
0.01
-0.33
0.03
-0.64
-0.63
Free Cash Flow per Basic Share
-2.35
1.91
-0.82
0.67
0.03
1.08
0.5
-0.27
0.02
-0.34
0.11
-0.77
-0.3
- -
Dividend per Share
0.38
0.44
0.33
0.23
0.22
0.44
0.42
0.11
0.36
0.13
0.13
0.13
0.13
0.14
Book Value per Share
2.42
2.6
3.24
3.36
4.37
4.63
3.96
4.02
4.35
4.38
4.07
4.05
3.3
3.17
Tangible Book Value per Share
2.13
2.3
2.95
2.97
4.06
4.29
3.63
3.72
4.04
4.08
3.57
3.45
2.71
2.58
Basic Weighted Avg Shares
571
483
521
588
657
727
727
727
731
736
734
735
728
728
Sales/Revenue/Turnover
5,987
6,168
4,800
4,381
6,947
7,893
6,544
5,560
7,930
9,893
9,451
10,132
8,685
8,462
Operating Margin (%)
4.15
5.97
4.64
6.08
10.58
7.83
-1.68
4.99
8.72
1.4
-0.83
1.76
-2.86
-3.05
Depreciation Expense
197
239
262
270
281
302
312
335
347
336
344
355
340
- -
Net Income, GAAP
26
97
16
94
481
401
-276
97
431
9
-243
25
-463
-462
Effective Tax Rate (%)
58.3
19.97
61.29
20.28
12.62
14.52
- -
17.64
9.17
78.92
- -
52.59
- -
- -
Profit Margin (%)
0.43
1.57
0.33
2.15
6.92
5.08
-4.22
1.74
5.44
0.09
-2.57
0.25
-5.33
-5.46
Working Capital
-975
-1,266
-862
-938
268
165
-489
125
310
551
308
336
-1,239
-663
LT Debt
681
604
292
70
308
- -
- -
413
318
617
907
1,185
323
997
Total Equity
1,397
1,499
2,095
2,192
3,344
3,533
2,985
3,083
3,398
3,434
3,170
3,112
2,565
2,465
Return on Invested Capital (%)
0.18
1.66
0.11
1.41
9.41
7.33
- -
1.89
9.55
0.2
- -
0.35
- -
- -
Return on Capital (%)
2.55
5.36
1.5
3.71
10.65
8.59
- -
3.49
9.27
0.46
- -
1.24
- -
- -
Return on Common Equity (%)
1.98
7.24
0.93
4.7
18.45
12.27
-8.86
3.31
13.81
0.27
-7.71
0.84
-17.15
-17.4

Capital Structure

CNY

•

in mil. unless spec.
Jun'25
Dec'25
Mar'26
ST Debt
2,553
3,068
2,858
LT Borrowings
989
306
980
LT Finance Leases
17
17
17
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
735
735
735
Market Capitalization
7,508
6,486
6,456

Working Capital

CNY

•

in mil. unless spec.
Jun'25
Dec'25
Mar'26
Total Current Assets
4,007
3,589
4,098
Cash, Cash Equivalents & STI
380
261
534
Accounts Receivable, Net
1,622
1,557
1,442
Inventories
1,054
927
1,135
Total Current Liabilities
4,038
4,828
4,761
Payables & Accruals
- -
- -
- -
ST Debt
2,553
3,068
2,858
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.48%
-3.17%
-17.59%
Free Cash Flow
12.87%
-561.99%
-60.88%
Net Income, GAAP
-402.1%
-922.77%
-1,943.43%
Sales/Revenue/Turnover
8.72%
11.17%
-14.28%
Total Cash Common Dividend
18.84%
31.92%
-5.4%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,385
2,528
2,386
2,832
10,132
2025
2,180
2,116
- -
2,268
8,685
2026
1,898
- -
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
-0.08
- -
0.11
0.03
2025
-0.05
-0.11
- -
-0.35
-0.64
2026
-0.13
- -
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
0.04
0.02
0.05
0.13
2025
0.03
0.03
- -
0.04
0.13
2026
0.04
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Yi Li
Full Time Employees
4,259
Sector
Process industries
Industry
Industrial specialties
Address
Liyao Jingdezhen JX China 333000
IPO Date
Sep 15, 2006
Website
jx-blackcat.com
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Business
Jiangxi Black Cat Carbon Black Inc., Ltd. (002068.SZ) manufactures and sells carbon black, a key industrial raw material used in tires, rubber products, plastics, inks, paints, batteries, and cables. The company produces various grades of carbon black, including N100-N800 series for rubber reinforcement; specialty carbon blacks such as high-color blacks for inks and coatings, conductive blacks for batteries and antistatic applications, and wear-resistant blacks for tire treads; as well as customized products under brands like BC series for international markets. It operates production facilities in Jiangxi, Guizhou, and Sichuan provinces in China, serving tire manufacturers, rubber compounders, plastics processors, and coating producers primarily in Asia, with exports to Europe, North America, and Southeast Asia; headquarters are located in Pingxiang, Jiangxi province, where the company was founded in 1995. In recent developments, the company expanded capacity through the commissioning of a 150,000-ton wet-process carbon black project in Guizhou Copperbelt in 2024, enhancing its supply for high-performance tire applications. It formed strategic partnerships with leading tire makers like Linglong Tire and Sailun Tire for sustainable carbon black supply chains, including collaborations on low-carbon production technologies. Additionally, Jiangxi Black Cat secured a RMB 1.2 billion financing round in late 2024 for R&D in eco-friendly carbon black variants and completed the acquisition of a specialty carbon black facility in Sichuan to bolster its high-value product segment.