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  3. •

    Industrial specialties
Changzhou Almaden Stock Co., Ltd. Class A

Changzhou Almaden Stock Co., Ltd. Class A

SSZSE:002623
17.23
CNY
-0.79
(-4.38%)
-0.96EPS
3.02BMarket Cap
Oct 28Next 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
4.33
5.47
6.81
8.73
9.82
9.66
7.44
11.26
11.29
15.92
18.68
14.6
10.21
8.58
Basic EPS, GAAP
0.38
0.24
0.34
0.12
-0.14
0.5
-0.61
0.86
0.3
0.42
0.43
-0.64
-0.54
-0.89
Free Cash Flow per Basic Share
-0.8
-0.98
-2.54
-4
-3.34
-1.46
0.84
1
-1.69
-0.71
-1.86
0.6
0.21
- -
Dividend per Share
0.05
0.05
0.07
0.26
0.47
0.27
0.29
0.25
0.12
0.15
0.34
0.67
0.69
1.08
Book Value per Share
12.96
13.16
13.48
13.62
13.32
13.85
13.11
14.66
16.46
16.21
16.27
15.09
13.98
13.37
Tangible Book Value per Share
12.24
12.16
12.28
12.44
12.17
12.93
12.21
13.78
15.76
15.49
15.57
14.4
13.31
12.69
Basic Weighted Avg Shares
162
158
160
160
164
158
159
160
180
199
194
198
199
196
Sales/Revenue/Turnover
702
863
1,092
1,396
1,612
1,530
1,184
1,803
2,032
3,168
3,628
2,893
2,036
1,680
Operating Margin (%)
3.99
2.27
5.15
3.3
3.84
2.23
2.29
9.43
1.5
2.57
2.38
-1.65
-2.81
-5.56
Depreciation Expense
41
56
66
100
142
170
165
161
149
171
167
193
186
- -
Net Income, GAAP
62
38
55
19
-23
79
-97
138
54
84
84
-127
-108
-175
Effective Tax Rate (%)
13.3
11.69
17.87
- -
- -
- -
- -
16.87
2.42
0.08
- -
- -
- -
- -
Profit Margin (%)
8.77
4.38
5
1.38
-1.43
5.18
-8.19
7.64
2.66
2.64
2.3
-4.38
-5.29
-10.4
Working Capital
1,209
1,004
712
184
-163
504
325
752
1,736
1,633
1,624
1,525
1,314
1,293
LT Debt
5
- -
18
619
595
313
142
162
243
278
479
540
352
545
Total Equity
2,074
2,106
2,157
2,188
2,135
2,223
2,107
2,358
3,292
3,250
3,273
3,043
2,821
2,611
Return on Invested Capital (%)
2.96
1.5
2.22
- -
- -
- -
- -
4.46
1.66
2.26
- -
- -
- -
- -
Return on Capital (%)
2.99
1.83
2.66
- -
- -
- -
- -
5.82
2.09
2.64
- -
- -
- -
- -
Return on Common Equity (%)
3.01
1.81
2.56
0.89
-1.07
3.64
-4.5
6.2
1.92
2.57
2.58
-4.06
-3.72
-6.27

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,658
1,523
1,746
LT Borrowings
261
471
371
LT Finance Leases
91
78
173
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
199
199
193
Market Capitalization
3,603
4,326
3,016

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,777
3,771
3,609
Cash, Cash Equivalents & STI
2,370
2,463
2,411
Accounts Receivable, Net
1,083
841
878
Inventories
117
121
138
Total Current Liabilities
2,463
2,261
2,316
Payables & Accruals
- -
- -
- -
ST Debt
1,658
1,523
1,746
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.46%
4.95%
-7.32%
Free Cash Flow
-53.71%
-76.99%
-65.57%
Net Income, GAAP
-146.66%
-54.59%
-15.07%
Sales/Revenue/Turnover
10.11%
6.65%
-29.62%
Total Cash Common Dividend
52.98%
43.41%
3.94%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
885
865
696
446
2,893
2025
560
523
- -
456
2,036
2026
368
333
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.01
-0.21
-0.52
-0.64
2025
0.03
-0.11
- -
-0.25
-0.54
2026
-0.19
-0.35
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.54
0.05
0.06
0.67
2025
0.05
0.57
- -
-0.02
0.69
2026
0.07
0.47
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jin Xi Lin
Full Time Employees
881
Sector
Process industries
Industry
Industrial specialties
Address
No. 639, Qinglong East Road Changzhou JS China 213021
IPO Date
Sep 23, 2011
Website
czamd.com
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Business
Changzhou Almaden Co., Ltd. (002623.SZ) manufactures photovoltaic coated glass, ultra-thin double-glass modules, and electronic glass products for the solar energy and display industries. The company produces solar glass including anti-reflective coated variants, photoelectric glass, full bonding glass, and POE films; ultra-thin glass-glass solar modules utilizing advanced physical tempering technology; electronic glass such as cover glass and display light guides; as well as operates photovoltaic power plants. Founded in September 2006 and headquartered at No. 639 Qinglong East Road, Changzhou, Jiangsu Province, China, Changzhou Almaden listed on the Shenzhen Stock Exchange SME Board in 2011 and serves markets in China, Vietnam, Malaysia, South Korea, Thailand, UAE, Taiwan, India, Turkey, Lithuania, Germany, and other regions. In a major strategic expansion, the company plans to invest $240 million in a 500,000-tonne annual capacity solar glass plant in the UAE's Khalifa Industrial Zone Abu Dhabi through a new subsidiary, Almaden Glass Industries Ltd., to target Middle East, Europe, and South Asia markets, with board approval secured as of May 2025 pending shareholder consent; it cancelled a prior proposed CNY 1.4 billion acquisition of Fengyang Silicon Valley Intelligence Co., Ltd. in August 2024 after initial agreement in February 2024.