GHW International logo

GHW International

9933.HK

HKSEBasic MaterialsChemicals - Specialty

Latest quote

HK$1.68

+HK$0.005 · +0.30%

Aug 24, 11:59 AM HKT

9933.HK company overview

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Company profile

Company website

GHW International is an investment holding company that manufactures and globally distributes a variety of chemical and pharmaceutical products. Its operations reach across the People's Republic of China, Europe, Vietnam, other Asian regions, and various international markets. The company organizes its business into four primary divisions: Polyurethane Materials, Animal Nutrition Chemicals, Fine Chemicals, and Pharmaceutical Products and Intermediates. The Polyurethane Materials division supplies polymeric methylene diphenyl diisocyanate (PMDI), toluene diisocyanate (TDI), and polymer polyether, which are integral to the production of cushion foams, vehicle interior components, and other lightweight automotive parts. Its Animal Nutrition Chemicals segment provides choline chloride and betaine, essential compounds used in feed formulations for poultry and livestock. The Fine Chemicals division produces various substances, including carboxylic acids, solvents, resins, and oleochemicals. These find applications in paints, dye synthesis, lubricant manufacturing, emulsifiers, cosmetics, flavors, fragrances, and feed additives. Lastly, the Pharmaceutical Products and Intermediates segment manufactures and markets compounds like isooctanoic acid and diethyl sulfate. These are utilized as paint driers, fungicides, preservatives, and pharmaceutical raw materials, as well as in the synthesis of dyes, pesticides, and pharmaceutical intermediates. This segment also offers iodine and its derivatives, along with finished pharmaceutical products, such as cefpodoxime dispersible tablets. GHW International was established in 1995 and its main offices are situated in Nanjing, People's Republic of China.

Industry
Chemicals - Specialty
Sector
Basic Materials
Headquarters
CN
CEO
Yanbin Yin
Listed since
Jan 21, 2020
Employees
1,109

Market position

52-week range

Current HK$1.68

Open
HK$1.68
Previous close
HK$1.675
Volume
28K
0.13× average
Average volume
215.78K
Average daily volume
Market cap
1.59B HKD
Beta
0.56
Market reference 1
50-day average
HK$1.5993
+5.05% above average
200-day average
HK$1.6688
+0.67% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.27B CNY
P/E (TTM)
106.67×
P/B (TTM)
2.27×
P/S (TTM)
0.33×
EV / EBITDA
59.21×
Earnings yield
0.80%
Free cash flow yield
6.03%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
8.77%
Operating margin
0.54%
Net margin
0.31%
Return on equity
2.12%
Return on assets
0.61%
Return on invested capital
1.13%

Financial health

Debt / equity
1.43×
Current ratio
0.93×
Altman Z-score
4.73
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends21%14%6%-2%Gross margin, FY2021: 16.80%Gross margin, FY2022: 19.47%Gross margin, FY2023: 10.47%Gross margin, FY2024: 10.12%Gross margin, FY2025: 8.77%Operating margin, FY2021: 6.07%Operating margin, FY2022: 9.56%Operating margin, FY2023: 0.29%Operating margin, FY2024: 0.82%Operating margin, FY2025: 0.54%Net margin, FY2021: 4.61%Net margin, FY2022: 8.13%Net margin, FY2023: 0.08%Net margin, FY2024: 0.33%Net margin, FY2025: 0.31%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 16.80%. Gross margin FY2022 19.47%. Gross margin FY2023 10.47%. Gross margin FY2024 10.12%. Gross margin FY2025 8.77%. Operating margin FY2021 6.07%. Operating margin FY2022 9.56%. Operating margin FY2023 0.29%. Operating margin FY2024 0.82%. Operating margin FY2025 0.54%. Net margin FY2021 4.61%. Net margin FY2022 8.13%. Net margin FY2023 0.08%. Net margin FY2024 0.33%. Net margin FY2025 0.31%.

Income trends

Revenue

4.11B CNY+6.51%

Operating income

22.22M CNY-29.56%

Net income

12.72M CNY-0.28%
Income trends across reported periods4.52B CNY2.88B CNY1.24B CNY−408.32M CNYRevenue, FY2021: 2.83B CNYRevenue, FY2022: 3.38B CNYRevenue, FY2023: 3.22B CNYRevenue, FY2024: 3.86B CNYRevenue, FY2025: 4.11B CNYOperating income, FY2021: 172M CNYOperating income, FY2022: 323.13M CNYOperating income, FY2023: 9.47M CNYOperating income, FY2024: 31.55M CNYOperating income, FY2025: 22.22M CNYNet income, FY2021: 130.71M CNYNet income, FY2022: 274.63M CNYNet income, FY2023: 2.72M CNYNet income, FY2024: 12.75M CNYNet income, FY2025: 12.72M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.83B CNY. Revenue FY2022 3.38B CNY. Revenue FY2023 3.22B CNY. Revenue FY2024 3.86B CNY. Revenue FY2025 4.11B CNY. Operating income FY2021 172M CNY. Operating income FY2022 323.13M CNY. Operating income FY2023 9.47M CNY. Operating income FY2024 31.55M CNY. Operating income FY2025 22.22M CNY. Net income FY2021 130.71M CNY. Net income FY2022 274.63M CNY. Net income FY2023 2.72M CNY. Net income FY2024 12.75M CNY. Net income FY2025 12.72M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue4.11B CNY3.86B CNY3.22B CNY3.38B CNY2.83B CNY
Cost of goods sold3.75B CNY3.47B CNY2.88B CNY2.72B CNY2.36B CNY
Gross profit360.87M CNY391.02M CNY336.98M CNY657.9M CNY476.12M CNY
Research and development57.15M CNY48.86M CNY75.24M CNY77.29M CNY59.15M CNY
Selling, general, and administrative283.85M CNY310.36M CNY256.32M CNY257.48M CNY244.96M CNY
Operating expenses338.64M CNY359.48M CNY327.51M CNY317.8M CNY306.48M CNY
Interest income1.99M CNY2.25M CNY2.32M CNY4.91M CNY6.25M CNY
Interest expense36.32M CNY39.91M CNY39.21M CNY36.99M CNY29.83M CNY
Depreciation and amortization16.18M CNY7.87M CNY7.87M CNY6.31M CNY4.11M CNY
Operating income22.22M CNY31.55M CNY9.47M CNY323.13M CNY172M CNY
Net income12.72M CNY12.75M CNY2.72M CNY274.63M CNY130.71M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.01

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.240.160.080Q2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 0.032, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 0.127, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 29, 2022: actual 0.2, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 25, 2023: actual 0.118, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 28, 2023: actual 0.001, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 22, 2024: actual 0.002, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 26, 2024: actual 0.005, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 31, 2025: actual 0.009, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates2.29B1.97B1.65B1.34BQ2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 1.42B HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 2.02B HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 29, 2022: actual 1.87B HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 25, 2023: actual 2.03B HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 28, 2023: actual 1.6B HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 22, 2024: actual 1.93B HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 26, 2024: actual 1.92B HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 31, 2025: actual 2.2B HKD, estimate —, surprise —, Comparison unavailable.

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