Breaking Down Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd Financial Health: Key Insights for Investors

Investors eyeing Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd will find a mix of momentum and caution: revenue climbed to CNY 24.02 billion in 2024 (up 26.01% from CNY 19.06 billion) with TTM revenue at CNY 26.01 billion as of Dec 12, 2025 (YoY +15.90%), while quarterly growth was a milder 2.60% and revenue per employee sits at CNY 3.36 million across 7,747 staff; profitability shows a TTM net income of CNY 383.29 million with net margin 1.47%, operating margin 2.27% and EBITDA margin 4.97% even as EPS (TTM) is CNY 0.43 and quarterly EPS CNY 0.13; the balance sheet reveals leverage of 96.46% debt-to-equity with total debt CNY 7.07 billion versus equity CNY 7.32 billion, cash CNY 5.36 billion, a current ratio of 1.14 and a quick ratio of 0.76, while liquidity and solvency flags include negative free cash flow of CNY -226.94 million (TTM) and an Altman Z-Score of 1.71; market valuation metrics show a market cap of CNY 11.99 billion, P/S 0.46, trailing P/E 29.91 and forward P/E 25.29, EV/EBITDA 10.61 and a 52-week price change of +30.17%; growth levers include a delayed but large-scale battery foil project now expected Dec 2027 and strong 2024 segment growth (aluminum foil +29.06%, aluminum strip +36.36%), while risk factors such as high leverage, moderate Piotroski F-Score of 5 and a low beta of 0.38 add nuance-explore the full breakdown to weigh these concrete figures and what they mean for investment decisions.

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Revenue Analysis

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd reported notable top-line expansion in 2024 and continued growth into the trailing twelve months (TTM) ending December 12, 2025. Key revenue and market metrics provide a snapshot of the company's scale, efficiency and market valuation relative to sales.

• 2024 revenue: CNY 24.02 billion (up 26.01% vs. 2023 CNY 19.06 billion)
• TTM revenue (as of 2025-12-12): CNY 26.01 billion (TTM YoY growth 15.90%)
• Quarterly revenue growth (period ending 2025-09-30): 2.60% year-over-year
• Revenue per employee: ~CNY 3.36 million (7,747 employees)
• Market capitalization: CNY 11.99 billion; shares outstanding: 929.27 million
• Price-to-Sales (P/S) ratio: 0.46

For broader corporate context and how revenue ties to business lines and ownership, see: Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd: History, Ownership, Mission, How It Works & Makes Money

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Profitability Metrics

Key profitability indicators for Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) present a picture of modest margins with signs of improving quarterly momentum. The company reported net income of CNY 383.29 million for the trailing twelve months (TTM) and TTM earnings per share (EPS) of CNY 0.43. Quarterly EPS is CNY 0.13 with quarterly earnings growth of 190.39% year-over-year, indicating a recent operational uptick.

• Margins: Gross margin of 8.50% vs. operating margin of 2.27% indicates most margin pressure comes from operating expenses and SG&A.
• Profitability: Net margin of 1.47% and ROE of 5.55% show limited conversion of revenue into shareholder returns, though improving quarterly growth may help leverage fixed costs.
• Cash-flow proxy: EBITDA margin at 4.97% suggests modest operating cash generation relative to revenue; capex and working capital trends will determine free cash flow sustainability.
• Per-share metrics: TTM EPS CNY 0.43 with quarterly EPS CNY 0.13-investors should monitor trend continuation and share count changes.

For related strategic context and corporate direction see: Mission Statement, Vision, & Core Values (2026) of Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd.

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Debt vs. Equity Structure

• Debt-to-Equity Ratio: 96.46% - higher reliance on debt financing relative to equity.
• Total Debt: CNY 7.07 billion (most recent quarter).
• Total Equity (Book Value): CNY 7.32 billion (most recent quarter).
• Current Ratio: 1.14 - sufficient short-term liquidity but limited cushion.
• Quick Ratio: 0.76 - indicates potential short-term liquidity pressure without converting inventory to cash.
• Interest Coverage Ratio: 2.75 - earnings cover interest expense ~2.75x, a moderate safety margin.
• EV/EBITDA: 10.61 - market valuation relative to operational cash earnings.

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Liquidity and Solvency

• Total cash position: CNY 5.36 billion - a substantial liquid buffer for short-term needs, working capital and near-term investments.
• Operating cash flow (TTM): CNY 152.47 million - positive but modest cash generation from core operations.
• Free cash flow (TTM): CNY -226.94 million - negative, indicating capital expenditures exceeded operating cash inflows during the period.
• Altman Z‑Score: 1.71 - below typical safe thresholds and signaling higher bankruptcy risk relative to healthier peers.
• Piotroski F‑Score: 5 - a middling score reflecting moderate operational and financial performance.
• Beta: 0.38 - lower volatility versus the broader market, implying less sensitivity to market swings.

• Liquidity: CNY 5.36bn in cash supports operations and near-term obligations despite weak free cash flow.
• Cash generation vs. investment: Positive operating cash flow (CNY 152.47m) is being consumed by capex, producing negative FCF (CNY -226.94m).
• Solvency risk: Altman Z‑Score of 1.71 flags elevated default risk; monitor leverage, interest coverage and debt maturities.
• Operational/financial quality: Piotroski F‑Score = 5 suggests neither clear financial deterioration nor strong improvement - a neutral-to-cautious signal.
• Market sensitivity: Beta 0.38 implies defensive-like behavior in equity performance.

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Valuation Analysis

Key market valuation metrics for Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) offer a snapshot of how the market prices the company relative to earnings, book value, sales and operating cash generation. Below are the principal figures and concise interpretation for investor consideration.

• Valuation context: Trailing P/E of 29.91 vs forward P/E 25.29 signals the market expects earnings to improve.
• Balance-sheet signal: P/B of 1.64 suggests modest premium to book-investors see some intangible or growth value beyond net assets.
• Revenue and cash-flow perspective: EV/Sales 0.53 and EV/EBITDA 10.61 indicate the company is not priced at a steep revenue multiple and sits in a mid-range cash-earnings multiple bracket.
• Size and risk: Market cap CNY 11.99B and EV CNY 13.71B frame the company's market scale and capital structure for peer comparison.
• Momentum: +30.17% 52-week change may reflect improving fundamentals, sector tailwinds, or market sentiment shifts-consider volatility when sizing positions.

For broader context on the company's history, ownership and business model, see: Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd: History, Ownership, Mission, How It Works & Makes Money

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Risk Factors

• High financial leverage: debt-to-equity ratio 96.46% - nearly one yuan of debt for each yuan of equity, increasing interest and refinancing risk during downturns.
• Bankruptcy risk indicator: Altman Z-Score 1.71 - below the safe threshold, signaling elevated default risk relative to healthier peers.
• Mixed fundamentals: Piotroski F-Score 5 - moderate score pointing to weaknesses in profitability and operational efficiency that investors should monitor.
• Negative cash generation: Free cash flow CNY -226.94 million - capital expenditures exceed operating cash flow, pressuring liquidity and funding needs.
• Project execution delay: Annual Production of 800,000 Tons of Battery Foil and Supporting Billet Project postponed to December 2027 - potential deferral of expected revenue and margin expansion.
• Low market sensitivity: beta 0.38 - lower volatility than the market, which can limit upside capture during rallies and reduce correlation benefits in portfolios expecting market-like returns.

• Key investor considerations:
  • Stress-test the company's ability to service debt if margins compress or interest rates rise.
  • Monitor quarterly cash flow and capex pacing to assess liquidity trajectory and need for external funding.
  • Track execution updates on the 800,000-ton project and any revised revenue guidance tied to the delay.
  • Consider portfolio role: defensive low-beta profile vs. growth expectations tied to project delivery.

Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd (603876.SS) - Growth Opportunities

Jiangsu Dingsheng New Material is positioning for scale and vertical integration via a major capacity expansion and benefiting from strong end-market demand across its aluminum foil and strip businesses. Key quantifiable drivers and valuation signals for investors are summarized below.

• Large-scale capacity build: 'Annual Production of 800,000 Tons of Battery Foil and Supporting Billet Project' now expected to complete in December 2027, adding material battery-material and upstream billet capacity.
• Segment growth in 2024: aluminum foil revenue +29.06%; aluminum strip revenue +36.36%, demonstrating robust demand and execution.
• Market sentiment: 52-week market capitalization increase of +30.17%.
• Valuation context: trailing P/E = 29.91 (investor expectations of earnings growth); enterprise value / sales = 0.53 (suggesting relative undervaluation versus revenue).

• Investment levers:
  • Completion and ramp of the 800,000-ton project (Dec 2027) - revenue and margin upside from battery foil and billet integration.
  • Continuation of strong foil and strip volume growth (2024 comps: +29.06% and +36.36%).
  • Re-rating potential if earnings accelerate given current EV/S of 0.53 and market cap momentum (+30.17% YTD/52-week).
• Valuation and expectation considerations:
  • P/E of 29.91 implies market is pricing in meaningful future EPS growth - monitoring guidance and realized margins is critical.
  • EV/S at 0.53 may provide asymmetric upside if revenue growth from new capacity materializes as planned.

See the company's stated long-term orientation here: Mission Statement, Vision, & Core Values (2026) of Jiangsu Dingsheng New Material Joint-Stock Co.,Ltd.