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    Process industries

  3. •

    Industrial specialties
Explosive Co., Ltd. Class A

Explosive Co., Ltd. Class A

SSZSE:002096
9.11
CNY
+0.06
(+0.66%)
0.63EPS
15.14P/E
10.89BMarket Cap
Oct 30Next 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
4.52
4.54
5.83
7.08
6.79
5.74
6.34
5.53
5.12
7.29
7.45
6.83
7.94
7.37
Basic EPS, GAAP
0.5
0.5
0.29
0.09
0.07
0.06
0.06
0.14
0.13
0.84
0.56
0.57
0.64
0.58
Free Cash Flow per Basic Share
0.04
0.29
0.08
-0.26
-0.64
-0.57
0.45
1.12
-0.03
0.85
0.48
0.3
0.46
- -
Dividend per Share
0.11
0.18
0.2
0.13
0.16
0.15
0.13
0.11
0.1
0.36
0.09
0.22
0.23
- -
Book Value per Share
4.98
5.4
6.17
5.52
5.41
5.36
5.44
4.86
4.86
6.41
5.63
6.01
6.44
6.53
Tangible Book Value per Share
3.96
4.24
5.01
4.37
4.28
4.27
4.39
3.83
3.9
4.73
4.13
4.54
4.68
4.79
Basic Weighted Avg Shares
369
395
377
376
386
379
398
362
377
756
1,132
1,251
1,238
1,241
Sales/Revenue/Turnover
1,670
1,795
2,199
2,661
2,624
2,174
2,522
2,002
1,931
5,512
8,428
8,546
9,832
9,146
Operating Margin (%)
14.98
15.02
10.03
4.88
4.48
3.81
4.22
8.87
6.21
11.96
10.04
10.32
10.09
10
Depreciation Expense
65
69
73
81
72
74
78
81
86
148
255
272
308
- -
Net Income, GAAP
185
198
109
34
27
23
24
51
49
635
634
713
793
719
Effective Tax Rate (%)
19.14
17.49
22.51
37.47
50.76
29.52
32.89
- -
0.4
16.18
17.5
15.62
18.14
16.97
Profit Margin (%)
11.05
11.01
4.98
1.27
1.03
1.05
0.95
2.53
2.54
11.53
7.52
8.34
8.06
7.87
Working Capital
160
219
362
356
326
351
363
285
375
1,267
3,373
3,665
3,987
4,252
LT Debt
32
17
58
58
58
55
55
126
48
431
361
292
346
348
Total Equity
1,943
2,102
2,391
2,094
2,055
2,030
2,064
1,848
1,889
2,509
7,283
7,785
8,513
8,769
Return on Invested Capital (%)
8.69
8.15
4.11
1.37
0.79
0.73
1.2
- -
2.81
23.32
12.92
9.51
9.49
8.53
Return on Capital (%)
8.14
8.13
4.23
1.62
1.68
1.88
1.63
- -
3.34
22.2
11.52
8.51
8.54
7.61
Return on Common Equity (%)
10.44
10.27
5.09
1.56
1.33
1.14
1.19
2.65
2.68
30.05
13.54
9.88
10.27
9.14

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
391
291
184
LT Borrowings
223
233
227
LT Finance Leases
123
119
121
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,240
1,240
1,240
Market Capitalization
16,523
14,302
10,891

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
6,927
7,215
7,557
Cash, Cash Equivalents & STI
3,082
2,971
3,376
Accounts Receivable, Net
1,838
2,331
2,683
Inventories
456
512
560
Total Current Liabilities
2,940
3,113
3,305
Payables & Accruals
- -
- -
- -
ST Debt
391
291
184
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
21.73%
48.31%
9.36%
Free Cash Flow
-548.62%
-1,027.99%
48.81%
Net Income, GAAP
122.91%
243.41%
11.16%
Sales/Revenue/Turnover
24.91%
50.25%
15.05%
Total Cash Common Dividend
67.7%
145.38%
3.62%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,776
2,138
2,389
2,243
8,546
2025
2,010
2,703
- -
2,476
9,832
2026
1,844
2,123
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
0.17
0.14
0.15
0.57
2025
0.13
0.2
- -
0.12
0.64
2026
0.09
0.18
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.21
- -
0.01
0.22
2025
- -
- -
- -
-0.01
0.23
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Xiao Ying Deng
Full Time Employees
7,045
Sector
Process industries
Industry
Industrial specialties
Address
Research Building Changsha HU China 410221
IPO Date
Dec 22, 2006
Website
expl.ceec.net.cn
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Business
Hunan Nanling Industrial Explosive Materials Co., Ltd. (002096.SZ), now operating as Explosive Co., Ltd. following a name change in May 2023, engages in the research, development, production, sale, transportation, and blasting services for civil explosives and related equipment primarily serving mining, infrastructure, construction, and engineering sectors in China with exports to Southeast Asia, Africa, and Australia; its core products encompass permissible emulsion explosives for secondary and class III coal mines, rock emulsion explosives, permissible expanded ammonium nitrate explosives for coal mines, modified ammonium explosives, ANFO (ammonium nitrate fuel oil) explosives, water-gel explosives, electronic and plastic detonators, industrial detonating cords, industrial electric detonators, military detonators, and integrated civil explosive system services including blasting design, construction, mining infrastructure stripping, and mineral packaging. Founded in 2001 and headquartered in Changsha, Hunan Province, China, the company maintains multiple production facilities across Hunan Province with an annual capacity exceeding 200,000 tons of explosives, supported by substantial R&D investments averaging 150 million CNY annually to enhance safety, efficiency, and environmental compliance such as reduced emissions and new eco-friendly formulations. Recent developments include the issuance of 1 billion CNY in corporate bonds in 2023 to fund a new production facility expanding capacity by 20 percent, completion of a major acquisition of a 95.54 percent stake in China Gezhouba Group's Yipuli Co., Ltd. to bolster explosive operations, strategic partnerships enhancing export capabilities generating approximately 400 million to 500 million CNY in overseas sales in 2022, and ongoing production expansions alongside modernization efforts that cut emissions by 20 percent over five years while navigating regulatory challenges in a market with high entry barriers.