S 
Shandong Huatai Paper Industry Shareholding Co 600308.SS · CNY
Materials · Shanghai · 🇨🇳 China
2.90
-0.34%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥12.46bn
FY2016FY2025
Net income
−CN¥66.0m
FY2016FY2025
Free cash flow
−CN¥583.9m
FY2016FY2025
Shareholders' equity
CN¥9.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥12.46bn | CN¥13.05bn | CN¥13.29bn | CN¥15.17bn | CN¥14.90bn | CN¥12.31bn | CN¥13.54bn | CN¥14.76bn | CN¥13.66bn | CN¥10.81bn |
| Gross profit | CN¥1.68bn | CN¥737.7m | CN¥926.5m | CN¥1.46bn | CN¥1.91bn | CN¥1.64bn | CN¥1.90bn | CN¥2.13bn | CN¥2.19bn | CN¥1.42bn |
| Research and development | CN¥193.4m | CN¥194.1m | CN¥265.8m | CN¥333.3m | CN¥348.2m | CN¥254.5m | CN¥170.5m | CN¥141.2m | CN¥72.5m | CN¥71.4m |
| Operating income | CN¥205.8m | CN¥89.5m | CN¥299.6m | CN¥542.1m | CN¥1.08bn | CN¥849.8m | CN¥869.4m | CN¥1.09bn | CN¥1.13bn | CN¥494.7m |
| Net income | −CN¥66.0m | CN¥36.2m | CN¥238.1m | CN¥427.0m | CN¥808.0m | CN¥696.4m | CN¥680.2m | CN¥719.1m | CN¥673.7m | CN¥182.0m |
| Diluted earnings per share | -0.04 | 0.01 | 0.16 | 0.29 | 0.49 | 0.44 | 0.41 | 0.44 | 0.41 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥15.72bn | CN¥15.29bn | CN¥15.24bn | CN¥15.41bn | CN¥16.18bn | CN¥14.90bn | CN¥13.70bn | CN¥14.07bn | CN¥14.27bn | CN¥14.89bn |
| Cash and short-term investments | — | CN¥1.68bn | CN¥2.05bn | CN¥2.26bn | CN¥2.94bn | CN¥2.41bn | CN¥1.67bn | CN¥1.50bn | CN¥1.69bn | CN¥1.28bn |
| Total liabilities | CN¥6.69bn | CN¥6.13bn | CN¥5.94bn | CN¥6.31bn | CN¥6.75bn | CN¥6.05bn | CN¥5.31bn | CN¥6.18bn | CN¥6.91bn | CN¥8.17bn |
| Debt | CN¥1.30bn | CN¥2.29bn | CN¥2.50bn | CN¥2.31bn | CN¥2.24bn | CN¥2.69bn | CN¥2.73bn | CN¥3.54bn | CN¥4.20bn | CN¥5.70bn |
| Shareholders' equity | CN¥9.03bn | CN¥9.14bn | CN¥9.27bn | CN¥9.05bn | CN¥9.33bn | CN¥8.72bn | CN¥8.21bn | CN¥7.68bn | CN¥7.15bn | CN¥6.51bn |
| Shares outstanding | 1,650m | 2,662m | 1,464m | 1,449m | 1,648m | 1,591m | 1,669m | 1,629m | 1,640m | 1,631m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥186.3m | CN¥364.8m | CN¥587.1m | CN¥853.4m | CN¥1.74bn | CN¥2.49bn | CN¥2.36bn | CN¥1.40bn | CN¥2.35bn | CN¥1.79bn |
| Capital spending | −CN¥770.2m | −CN¥1.56bn | −CN¥1.09bn | −CN¥833.3m | −CN¥656.6m | −CN¥788.2m | −CN¥880.1m | −CN¥735.6m | −CN¥302.2m | −CN¥212.4m |
| Free cash flow | −CN¥583.9m | −CN¥1.20bn | −CN¥500.1m | CN¥20.1m | CN¥1.08bn | CN¥1.70bn | CN¥1.48bn | CN¥661.9m | CN¥2.05bn | CN¥1.58bn |
| Dividends paid | −CN¥143.6m | −CN¥184.7m | −CN¥107.7m | −CN¥349.3m | −CN¥324.1m | −CN¥343.7m | −CN¥216.0m | −CN¥373.5m | −CN¥325.5m | −CN¥330.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.09bn | CN¥3.12bn | CN¥2.98bn | CN¥3.07bn | CN¥3.32bn | CN¥3.09bn | CN¥3.42bn | CN¥3.09bn |
| Gross profit | CN¥237.3m | CN¥240.4m | CN¥41.3m | CN¥217.0m | CN¥260.1m | CN¥348.4m | −CN¥70.5m | CN¥224.5m |
| Operating income | CN¥33.2m | CN¥49.7m | CN¥7.1m | CN¥3.6m | CN¥68.9m | CN¥114.2m | −CN¥117.8m | −CN¥29.0m |
| Net income | −CN¥4.0m | CN¥22.9m | −CN¥138.6m | CN¥4.9m | CN¥7.8m | CN¥59.8m | −CN¥131.4m | −CN¥15.9m |
| Diluted earnings per share | -0.00 | 0.01 | -0.08 | 0.00 | 0.00 | 0.04 | -0.05 | -0.01 |
| Cash from operations | — | — | — | CN¥208.0m | −CN¥134.0m | CN¥110.0m | — | CN¥169.0m |
| Capital spending | −CN¥75.0m | −CN¥189.0m | — | −CN¥292.0m | −CN¥279.0m | −CN¥249.0m | −CN¥154.0m | −CN¥518.0m |
| Free cash flow | — | — | — | −CN¥84.0m | −CN¥413.0m | −CN¥139.0m | — | −CN¥349.0m |
| Total assets | CN¥16.08bn | CN¥15.79bn | CN¥15.72bn | CN¥15.96bn | CN¥15.88bn | CN¥16.07bn | CN¥15.29bn | CN¥15.49bn |
| Cash and short-term investments | — | — | — | CN¥1.73bn | CN¥1.43bn | CN¥1.83bn | CN¥1.68bn | CN¥1.87bn |
| Debt | CN¥1.47bn | CN¥1.72bn | CN¥1.30bn | CN¥2.83bn | CN¥2.76bn | CN¥2.80bn | CN¥2.28bn | CN¥2.92bn |
| Shareholders' equity | CN¥9.06bn | CN¥9.05bn | CN¥9.03bn | CN¥9.18bn | CN¥9.18bn | CN¥9.19bn | CN¥9.14bn | CN¥9.27bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.5% | 5.7% | 7.0% | 9.6% | 12.8% | 13.3% |
| Operating margin | 1.0% | 1.5% | 2.9% | 4.2% | 7.4% | 8.0% |
| Net margin | -0.5% | 0.3% | 1.8% | 2.8% | 5.4% | 5.7% |
| Return on equity | -0.7% | 0.4% | 2.6% | 4.7% | 8.7% | 8.0% |
| Return on assets | -0.4% | 0.2% | 1.6% | 2.8% | 5.0% | 4.7% |
| Free cash flow yield | 17.8% | 22.3% | 35.2% | 35.8% | 44.8% | 63.3% |
| Revenue growth | -4.5% | -1.9% | -12.4% | 1.8% | 21.1% | -9.1% |
| Earnings growth | -282.5% | -84.8% | -44.3% | -47.2% | 16.0% | 2.4% |
| Current ratio | 1.24x | 1.26x | 1.35x | 1.18x | 1.19x | 1.03x |
| Debt to equity | 0.14x | 0.25x | 0.27x | 0.26x | 0.24x | 0.32x |
| Equity ratio | 57.4% | 59.8% | 60.8% | 58.7% | 57.7% | 58.5% |
| Interest coverage | 1.12x | 1.81x | 3.80x | 6.27x | 9.75x | 6.86x |
| R&D as a share of sales | 1.6% | 1.5% | 2.0% | 2.2% | 2.3% | 2.1% |
| Buybacks as a share of market value | 38.0% | -81.9% | -1.0% | 12.1% | -3.6% | 4.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.4% | 0.2% | 2.8% |
| Operating income | -27.6% | -24.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.5% | 8.9% | 10.3% | 12.0% |
| Operating margin | 1.2% | 2.1% | 3.8% | 4.5% |
| Net margin | -0.1% | 1.2% | 2.6% | 3.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -97.8 | 268.0 | 21.3 | 12.3 | 9.0 | 8.4 | 8.0 | 7.0 | 10.9 | 34.7 |
| Price to sales | 0.5 | 0.7 | 0.4 | 0.3 | 0.5 | 0.5 | 0.4 | 0.3 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 27 Jun 2025.
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.008 | 0.048 | 0.151 | 0.128 | 0.125 | 0.132 | 0.124 | 0.034 |
- 7-for-5 split · 29 May 2023
- 8-for-5 split · 26 Jun 2006
- 1-to-1 reverse split · 14 Nov 2005
- 13-for-10 split · 28 May 2003
- 6-for-5 split · 8 Jul 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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