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China Sanjiang Fine Chemicals Co., Ltd.
(2198)
China Sanjiang Fine Chemicals Co., Ltd. (2198) vs. iShares MSCI Hong Kong ETF (EWH)
China Sanjiang Fine Chemicals Co., Ltd. Business Overview & Revenue Model
China Sanjiang Fine Chemicals Co., Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.45B | 19.59B | 13.13B | 8.82B | 9.50B | 8.32B |
| Gross Profit | 1.12B | 1.11B | 168.77M | -70.38M | 634.52M | 1.63B |
| EBITDA | 1.31B | 1.35B | 812.91M | 349.18M | 388.69M | 1.64B |
| Net Income | 679.63M | 532.55M | 91.48M | -307.88M | 380.61M | 1.12B |
Balance Sheet | ||||||
| Total Assets | 22.57B | 22.11B | 21.00B | 18.26B | 14.28B | 11.02B |
| Cash, Cash Equivalents and Short-Term Investments | 857.02M | 888.79M | 380.05M | 368.44M | 851.83M | 1.28B |
| Total Debt | 11.89B | 11.00B | 10.27B | 10.52B | 6.27B | 4.21B |
| Total Liabilities | 17.38B | 17.21B | 16.64B | 13.93B | 9.54B | 6.23B |
| Stockholders Equity | 5.21B | 4.91B | 4.38B | 4.30B | 4.67B | 4.71B |
Cash Flow | ||||||
| Free Cash Flow | 275.46M | -398.88M | -1.29B | -3.52B | -834.29M | -209.13M |
| Operating Cash Flow | 1.73B | 1.06B | -122.01M | -910.52M | 1.63B | 1.74B |
| Investing Cash Flow | -1.28B | -1.39B | -790.28M | -1.97B | -3.29B | -1.07B |
| Financing Cash Flow | -137.00M | 533.27M | 1.06B | 2.50B | 1.48B | -485.13M |
China Sanjiang Fine Chemicals Co., Ltd. Technical Analysis
China Sanjiang Fine Chemicals Co., Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$4.47B | 7.86 | 9.36% | 6.70% | -3.73% | 6.09% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | HK$1.30B | 20.16 | 2.46% | 3.52% | -5.29% | -32.47% | |
59 Neutral | HK$1.18B | 16.45 | 3.61% | 2.20% | -8.51% | -68.34% | |
56 Neutral | HK$4.20B | 5.57 | 13.87% | ― | 9.20% | 213.87% | |
47 Neutral | HK$1.72B | 96.59 | 2.59% | ― | 11.08% | 147.89% |
China Sanjiang Fine Chemicals Co., Ltd. Corporate Events
China Sanjiang Fine Chemicals has entered into a series of continuing connected transactions with Jiahua Energy Chemical Co. for 2026, covering ethylene storage and transportation services, as well as the supply and purchase of condensate water, desalinated water and miscellaneous materials, thereby formalising their supplier–customer arrangements for the year. As the transaction caps fall between the 0.1% and 5% thresholds under Hong Kong’s Listing Rules, the deals will be subject to reporting, announcement and annual review requirements but are exempt from the need for a shareholder circular, independent financial advice and independent shareholders’ approval, streamlining compliance while maintaining regulatory oversight for investors.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Company Limited has signed a one-year framework agreement with connected party Hangzhou Bay Petrochemical Logistics, under which the latter will provide unloading, loading and storage services for the group’s liquified chemical products from 29 December 2025 to 31 December 2026. The arrangement, priced at RMB25–40 per tonne based on usage and prevailing market rates, is classified as a continuing connected transaction under Hong Kong’s Listing Rules, triggering reporting, announcement and annual review requirements but not independent shareholders’ approval. By securing non-exclusive port services that are benchmarked against third-party providers—where the group currently faces higher prices and multi-day queuing—the company aims to improve logistics efficiency and cost control, while preserving flexibility to switch to other ports if they offer more favourable terms.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals has entered into a Transportation Agreement under which its subsidiary Sanjiang Chemical will procure naphtha transportation services from connected party Gaoyu Shipping from 1 January 2026 to 31 December 2028, with possible renewal subject to regulatory compliance. The deal, classified as a continuing connected transaction under Hong Kong Listing Rules, is subject to reporting, announcement and annual review requirements but exempt from independent shareholders’ approval, and is structured on arm’s length pricing based on prevailing market rates and comparable third-party quotations, giving the company additional flexibility and options in securing naphtha logistics while imposing performance obligations and delay penalties on both parties to safeguard service quality and cost fairness for stakeholders.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals has signed a framework agreement with connected party Jiahua Energy Chemical for the provision of pipeline network usage services from 1 January 2026 to 31 December 2026, with total consideration capped at RMB6 million, priced in accordance with local government-approved pipeline usage fee standards and payable annually in a lump sum. As the transaction size falls between the 0.1% and 5% thresholds under Hong Kong listing rules, it is classified as a continuing connected transaction subject to reporting, announcement and annual review requirements but exempt from independent shareholders’ approval, signalling a modest but regulated recurring revenue stream from infrastructure services and reinforcing Sanjiang’s operational ties within the local chemical industry cluster.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Company Limited has entered into a framework agreement with connected party Gangan Industrial under which Gangan Industrial will provide repair and maintenance services for the group’s chemical plants and machinery from 1 January 2026 to 31 December 2026, with an option to renew subject to regulatory compliance. The transaction, classified as a continuing connected transaction under Hong Kong Listing Rules, is subject to reporting, announcement and annual review requirements but exempt from independent shareholders’ approval, and the company has stressed that pricing will be set on an arm’s length basis, benchmarked to market quotes or cost-plus margins, to ensure terms are no less favourable than those available from independent third-party contractors.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Company Limited has entered into a continuing connected transaction with Jiahua Energy Chemical Co., under which the group will supply ammonium hydroxide to Jiahua and its subsidiaries from 1 January 2026 to 31 December 2026, with the agreement renewable subject to regulatory compliance. The pricing will be set monthly based on the weighted average prices Jiahua obtains from independent suppliers for comparable products, with the company emphasizing that terms will be negotiated at arm’s length and benchmarked against independent purchasers to ensure normal commercial terms and protect shareholders’ interests; under Hong Kong Listing Rules, the deal is subject to reporting, announcement and annual review requirements but is exempt from circular and independent shareholders’ approval due to its size.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals has entered into short-term supplemental agreements with related parties Mei Fu Petrochemical and Blue Whale Bioenergy to ensure uninterrupted supply of naphtha, steam, liquefied petroleum gas and fuel gas between 1 and 15 January 2026, ahead of an extraordinary general meeting where shareholders will vote on longer-term continuing connected transaction agreements. The temporary arrangements mirror the terms and pricing of the previously announced agreements and will count toward the proposed annual transaction caps, allowing the group to maintain normal production while complying with Hong Kong listing rules that require independent shareholder approval for the broader connected transactions.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Company Limited has convened an extraordinary general meeting for 15 January 2026 in Hong Kong, seeking shareholder approval for a series of supply agreements that underpin its core petrochemical operations. The resolutions to be voted on cover the ratification of a naphtha sale and purchase agreement with Zhejiang Mei Fu Petrochemical, and steam and liquefied petroleum gas purchase agreements between Blue Whale Bioenergy (Zhejiang) and Sanjiang Chemical, including the associated annual transaction caps for the financial years through 2028. Board authorisation is also being sought to execute all necessary documents and actions related to these contracts, which collectively aim to secure critical feedstock and utility supplies, providing greater visibility over input costs and operational continuity for the group’s chemical production activities.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Co., Ltd. announced a delay in the dispatch of a circular related to non-exempt continuing connected transactions with Mei Fu Petrochemical and Blue Whale Bioenergy. The circular, which includes details on agreements for naphtha, steam, liquefied petroleum gas, and fuel gas, as well as recommendations from the Independent Board Committee and advice from the Independent Financial Adviser, will now be sent to shareholders by December 31, 2025. This delay may affect the company’s timeline for shareholder engagement and decision-making processes.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.
China Sanjiang Fine Chemicals Co., Ltd. has entered into continuing connected transactions with Mei Fu Petrochemical and Blue Whale Bioenergy, effective until December 2028. These transactions involve multiple agreements for services and supplies, subject to reporting and approval requirements under Hong Kong’s Listing Rules, impacting the company’s operational and stakeholder dynamics.
The most recent analyst rating on (HK:2198) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on China Sanjiang Fine Chemicals Co., Ltd. stock, see the HK:2198 Stock Forecast page.