Xiangtan Electrochemical Scientific Co., Ltd. Class A

Xiangtan Electrochemical Scientific Co., Ltd. Class A

SSZSE:002125
10.87
CNY
+0.39
(+3.72%)
8.60BMarket 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
1.94
2.01
2.39
1.11
1.37
1.98
2.14
1.95
2.99
3.36
3.44
3.04
3.07
- -
Basic EPS, GAAP
0.02
-0.04
0.04
0.04
0.09
0.13
0.12
0.04
0.38
0.63
0.56
0.5
0.36
- -
Free Cash Flow per Basic Share
0.01
-0.53
-0.42
-0.25
-0.39
-0.55
-0.23
-0.3
-0.26
0.09
0.47
0.45
0.25
- -
Dividend per Share
0.08
0.07
0.09
0.04
0.05
0.12
0.15
0.12
0.12
0.15
0.2
0.22
0.21
0.08
Book Value per Share
0.92
1.19
2.49
1.91
1.99
2.08
2.17
2.81
3.17
3.75
4.42
4.76
5.01
5.56
Tangible Book Value per Share
0.81
0.91
2.18
1.68
1.77
1.69
1.84
2.49
2.83
3.33
3.99
4.26
4.56
5.12
Basic Weighted Avg Shares
365
365
261
593
539
544
567
632
626
626
629
630
626
632
Sales/Revenue/Turnover
708
734
626
658
741
1,079
1,210
1,234
1,872
2,100
2,163
1,912
1,921
- -
Operating Margin (%)
2.44
1.84
10.38
7.14
14.07
14.5
12.16
8.65
11.82
15.38
12.98
16.3
9.91
- -
Depreciation Expense
54
67
69
84
90
113
140
152
156
172
197
201
204
- -
Net Income, GAAP
6
-14
11
22
47
71
68
25
238
394
352
315
225
- -
Effective Tax Rate (%)
29.53
- -
28.74
16.82
- -
28.96
7.87
2.53
12.43
5.64
11.86
14.3
12.89
- -
Profit Margin (%)
0.8
-1.95
1.83
3.38
6.37
6.56
5.62
2.05
12.7
18.77
16.29
16.47
11.73
- -
Working Capital
-195
-349
288
-116
-343
-561
-749
-207
-280
298
397
428
869
832
LT Debt
27
104
152
97
132
369
299
410
427
919
784
717
946
825
Total Equity
381
476
1,061
1,087
1,139
1,168
1,217
1,787
2,050
2,427
2,838
3,039
3,188
3,534
Return on Invested Capital (%)
-3.88
- -
0.7
1.03
- -
3.82
3.06
0.92
10.73
10.92
8.31
7.04
4.91
- -
Return on Capital (%)
4.56
- -
3.31
2.61
- -
4.96
5.34
3.51
8.25
11.64
9.85
8.27
6.03
- -
Return on Common Equity (%)
1.78
-3.8
1.57
2.13
4.38
6.28
5.79
1.7
12.63
18.1
13.69
10.9
7.33
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
374
372
378
LT Borrowings
934
902
813
LT Finance Leases
12
12
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
629
630
630
Market Capitalization
8,914
8,228
8,599

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,657
1,757
1,670
Cash, Cash Equivalents & STI
609
558
442
Accounts Receivable, Net
492
610
539
Inventories
362
404
409
Total Current Liabilities
787
859
838
Payables & Accruals
- -
- -
- -
ST Debt
374
372
378
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.29%
12.4%
4.9%
Free Cash Flow
34.3%
46.9%
-44.55%
Net Income, GAAP
104.59%
171.2%
-28.43%
Sales/Revenue/Turnover
13.33%
11.15%
0.46%
Total Cash Common Dividend
23.96%
13.09%
-8.25%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
360
496
528
529
1,912
2025
418
479
- -
519
1,921
2026
419
523
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.17
0.14
0.11
0.5
2025
0.08
0.12
- -
0.11
0.36
2026
0.14
0.22
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.18
0.01
0.01
0.22
2025
0.02
0.16
- -
-0.05
0.21
2026
0.01
0.12
- -
- -
- -

Company Description

CEO
Xi Jun Cheng
Full Time Employees
936
Sector
Producer manufacturing
Industry
Electrical products
Address
Tian'e Road Xiangtan HU China 411102
IPO Date
Apr 3, 2007
Business
Xiangtan Electrochemical Scientific Co.,Ltd is a China-based company primarily engaged in the research, development, production, and sale of battery materials and environmental services. Founded in 1958 and headquartered in Xiangtan City, Hunan Province, it operates under the control of the Xiangtan State-owned Assets Supervision and Administration Commission (SASAC) and is listed on the Shenzhen Stock Exchange since April 3, 2007. The company’s core products include electrolytic manganese dioxide (EMD) with various grades such as C-Zn grade, alkaline manganese EMD, primary lithium manganese EMD, and high-performance EMD; lithium manganate cathode materials including spinel lithium manganate and lithium manganese oxide; manganese tetroxide; and high-purity manganese sulfate, all primarily used in primary and secondary battery applications. Additionally, Xiangtan Electrochemical has a significant sewage treatment business involved in the centralized treatment of urban wastewater and industrial sludge, with an annual treatment capacity of 65 million tons. The company exports products to over 20 countries across Southeast Asia, South Asia, South America, the United States, Japan, and the European Union, and is a strategic partner for global battery brands such as ENR, Duracell, Nanfu, and Shuanglu. In recent years, Xiangtan Electrochemical Scientific Co.,Ltd has made strategic advances including the trial production of spinel lithium manganese oxide base materials and the signing of energy service agreements for distributed photovoltaic power generation projects, reflecting a diversification into renewable energy initiatives. The company also operates subsidiaries such as Jingxi Xiangtan Electrochemical Technology Co., Ltd. and Guangxi Lijin New Materials Co., Ltd., enhancing its footprint in new energy materials. Despite a slight revenue decline reported in 2024 due to market conditions, Xiangtan continues to focus on innovation in battery materials, expanding its range to include NCM (nickel cobalt manganese), FePO4 (iron phosphate), and LFP (lithium iron phosphate) materials. Their product development and strategic partnerships reinforce the company's role as a leading supplier in the global battery supply chain and environmental services sector. Xiangtan Electrochemical Scientific Co.,Ltd operates mainly in two industry segments: battery materials and sewage treatment. Its battery materials are highly specialized for use in both traditional primary batteries and next-generation new energy batteries involving lithium-ion technologies. The company serves a diverse customer base including prominent battery manufacturers in China and abroad. It has a workforce of around 980 employees and maintains continuous R&D efforts to lead in technology and quality standards in electrolytic manganese dioxide and new energy materials production. Overall, Xiangtan Electrochemical stands as a pivotal enterprise within the chemical raw materials industry and China’s strategic battery materials market.