Breaking Down Jiangsu Nata Opto-electronic Material Co., Ltd. Financial Health: Key Insights for Investors

Peel back the numbers behind Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) and you'll see a company accelerating revenue and tightening profitability - 2024 revenue reached CNY 2.35 billion (up 38.08% year-over-year) and TTM revenue as of 30 Sep 2025 hit CNY 2.47 billion (+13.07% YoY), while net income rose to CNY 270.98 million in 2024 (TTM net income CNY 306.16 million) with TTM EPS at CNY 0.44 and a fiscal 2024 profit margin of 11.52% alongside a 26.62% operating margin; liquidity shows CNY 674.3 million in cash versus total debt of CNY 179 million (net cash position), operating cash flow of CNY 627 million versus capex of CNY 202 million, and valuation multiples that include a TTM P/E of 74.10, forward P/E 37.95, EV of CNY 28.59 billion and EV/EBITDA of 22.39 - juxtaposing strong segment momentum (special gas CNY 1.51 billion in 2024; precursors CNY 578.21 million, +70.30%) and growth levers like OLED expansion and recent acquisitions against clear risks from competition, raw material swings and regulatory pressure, so investors should dive into the detailed revenue, profitability, balance sheet and valuation breakdowns that follow.

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) - Revenue Analysis

Key revenue milestones and trends for Jiangsu Nata Opto-electronic Material Co., Ltd. highlight a strong growth phase driven by both special gases and precursor materials.

• 2024 revenue: CNY 2.35 billion (up 38.08% from CNY 1.70 billion in 2023)
• TTM revenue (as of 2025-09-30): CNY 2.47 billion (+13.07% YoY)
• Revenue per share (TTM): CNY 3.70
• Q3 2025 revenue: CNY 702.6 million (Q/Q growth: 2.20%)

2024 revenue breakdown by business segment:

• Growth drivers: strong expansion in precursor materials (70.30% YoY) complemented by steady special gas demand (+22.33% YoY).
• Recent momentum: TTM growth of 13.07% indicates continued top-line expansion into 2025; Q3 2025 showed sequential improvement (+2.20%).
• Per-share metric: CNY 3.70 revenue per share (TTM) provides a useful per-share scaling for valuation and investor comparisons.

Exploring Jiangsu Nata Opto-electronic Material Co., Ltd. Investor Profile: Who's Buying and Why?

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) - Profitability Metrics

• Net income for FY 2024: CNY 270.98 million (up 28.15% from CNY 211.46 million in 2023).
• TTM net income as of 2025-09-30: CNY 306.16 million.
• TTM EPS (2025-09-30): CNY 0.44; Q3 2025 quarterly EPS: CNY 0.16.
• Profit margin (FY 2024): 11.52%; Operating margin (FY 2024): 26.62%.
• Return on assets (TTM): 5.64%; Return on equity (TTM): 11.78%.
• Earnings yield (FY 2024): 1.52%; P/E ratio (FY 2024): 65.63.

• Year-over-year net income growth (2023→2024): +28.15% (CNY 211.46M → CNY 270.98M).
• TTM net income vs. FY 2024: +13.03% (CNY 306.16M vs. CNY 270.98M), indicating continued earnings momentum into 2025.
• EPS trajectory: TTM 0.44 with Q3 2025 contributing 0.16, signaling consistent quarterly contribution to annual EPS.

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) - Debt vs. Equity Structure

• Cash and equivalents (as of 30 Sep 2025): CNY 674.3 million.
• Total debt: CNY 179 million - implying a net cash position of CNY 495.3 million.
• Enterprise Value (as of 1 Jul 2025): CNY 28.59 billion.
• Valuation multiples: P/S (TTM) = 12.14; P/B (most recent quarter) = 6.29; EV/EBITDA = 22.39.

• Capital structure snapshot: Equity market capitalization dominates enterprise value, given a modest debt base (CNY 179M) and substantial cash reserves, producing a net cash balance that reduces financial leverage.
• Leverage implications: With net cash of ~CNY 495.3M, traditional debt-servicing risk is low; debt/EV is negligible relative to peers in capital-intensive opto-electronics sectors.
• Valuation context: High P/S (12.14) and P/B (6.29) indicate the market prices significant growth or premium margins into equity value; EV/EBITDA at 22.39 suggests investor willingness to pay elevated multiples for earnings.
• Balance-sheet flexibility: Positive liquidity (CNY 674.3M) supports capex, R&D, or M&A without immediate financing - preserves optionality compared with leveraged peers.

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) - Liquidity and Solvency

• Operating cash flow (TTM): CNY 627 million - materially higher than reported net income for the period.
• Capital expenditures (CAPEX): CNY 202 million - moderate, indicating a balanced reinvestment approach.
• Key solvency and liquidity ratios (current ratio, quick ratio, debt-to-equity, interest coverage) are not specified in available data.
• Cash conversion cycle and days sales outstanding are not provided in the available data.

• Implication: Strong operating cash flow relative to net income suggests cash-generative operations or non-cash accounting items depressing reported earnings.
• Implication: Moderate CAPEX (CNY 202M) implies the company is investing for growth without aggressive leverage of cash resources.
• Data gap risk: Missing standard liquidity and solvency ratios (current/quick, debt metrics, interest coverage) limits full assessment of short-term liquidity and long-term solvency.

Further context on corporate background and strategy: Jiangsu Nata Opto-electronic Material Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) - Valuation Analysis

• High TTM P/E (74.10) suggests the stock is priced for robust historical growth or short-term earnings weakness; investors should check recent one-off items affecting earnings.
• The forward P/E (37.95) implies analysts expect earnings to roughly double from the TTM baseline over the next 12 months (or that short-term headwinds will abate).
• P/S of CNY 8.71 and EV/Revenue of 8.25 both point to a premium revenue multiple - assess revenue growth trajectory and margin expansion potential to justify these levels.
• P/B at 6.29 signals market confidence in intangible assets, brand, or returns above book value; contrast with ROE and asset composition.
• EV/EBITDA of 22.39 is elevated vs. many industrial peers; confirm sustainable EBITDA margins and capex profile to validate the premium.

• Verify recent earnings drivers: one-time gains/losses, extraordinary items, or accounting changes.
• Review analyst consensus growth rates embedded in the forward P/E.
• Check balance sheet strength and leverage given high EV-based multiples.
• Compare margins and ROIC against peers to justify P/S and P/B premiums.

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) Risk Factors

Investors in Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) should weigh a set of company-specific and market-wide risks that may materially affect future revenue, margins, cash flow and valuation. Below are the primary risk categories with quantified-impact estimates and mitigation considerations.

• Intensified competition in electronic materials: market-share pressure can compress selling prices and growth. Competitive entrants and established peers targeting similar substrates and opto-electronic films increase pricing pressure; estimated revenue-at-risk in a high-competition scenario: 8-18% annually.
• Raw material price volatility: feedstock inputs (e.g., specialty resins, PET/PI films, chemical intermediates) can swing costs. Historical commodity swings suggest input-cost volatility of ±10-25% year-over-year, potentially reducing gross margin by 4-12 percentage points in extreme cases.
• Regulatory and compliance changes: chemical, environmental, and export-control regulations can raise capex and operating costs. Compliance-driven capex could range from RMB 50-300 million in a multi-year program depending on required upgrades.
• Technological obsolescence: rapid product innovation from competitors could shorten product life cycles and necessitate R&D reinvestment; failure to keep pace could reduce ASPs (average selling prices) by 5-15% and market share by comparable amounts.
• Demand cyclicality and macroeconomic downturns: reduced end-market demand (consumer electronics, automotive displays, industrial opto-electronics) can trigger revenue declines. In recession scenarios, revenue declines of 15-35% are plausible based on historical electronics slowdowns.
• Currency exchange risk: export exposure and imported input purchases expose the company to CNY/US$ and CNY/EUR moves. A 5-10% adverse currency move can translate into ~1-3% swing in net profit depending on hedging effectiveness.

To help prioritize these risks for portfolio decision-making, the following table summarizes probability, potential P&L impact, and common mitigation strategies.

Operationally, investors should monitor quarterly indicators that signal rising risk exposure:

• Gross margin trends - a sustained decline >200 bps (2 percentage points) over two consecutive quarters may indicate pricing or input-cost stress.
• Inventory days and receivable days - sharp increases may presage demand weakness or channel fill.
• R&D and capex spend relative to sales - decreases may indicate underinvestment against competitive technology advances; increases may signal regulatory or capacity-driven spending.
• Geographic revenue mix - higher share of export sales increases FX sensitivity; monitor percentage exposed to USD/EUR.

For detailed investor positioning, company-specific ownership trends and buying rationale are examined in the linked profile: Exploring Jiangsu Nata Opto-electronic Material Co., Ltd. Investor Profile: Who's Buying and Why?

Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) Growth Opportunities

Recent strategic moves and forward-looking estimates position Jiangsu Nata Opto-electronic Material Co., Ltd. (300346.SZ) to capture expanding demand in OLED and opto-electronic materials.

• Nataorganic Material (Suzhou) Co Ltd began operations in May 2024, initiating on-site production capacity for OLED materials.
• In March 2025 the company acquired the remaining 16.54% stake in Quanjiao Nata Opto-electronic Materials Ltd., consolidating control and enhancing market presence in specialty materials.
• Analyst forecasts indicate earnings growth of 22.5% CAGR and revenue growth of 18.7% CAGR over the coming years, with return on equity expected to reach 11.4% within three years.
• Focused R&D on innovative OLED materials aims to unlock new product offerings and permit upward pricing/margin expansion as display industry demand evolves.

• Vertical integration from the Suzhou facility plus full consolidation of Quanjiao improves control over supply, quality and margins.
• Projected top-line and bottom-line growth supports capacity expansion and continued R&D investment without excessive dilution.
• Market positioning in OLED materials aligns with secular growth in flexible/AMOLED displays and advanced lighting, providing multiple end-market levers.

Further context and investor-focused details are available here: Exploring Jiangsu Nata Opto-electronic Material Co., Ltd. Investor Profile: Who's Buying and Why?