Zhejiang Three Stars New Materials Co., Ltd. (SHA:603578)

China · Delayed Price · Currency is CNY

12.61

-0.47 (-3.59%)

Nov 3, 2026, 3:00 PM CST

SHA:603578 Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,470	1,538	1,015	892.26	762.86	825.92
Revenue Growth	1.10%	51.50%	13.81%	16.96%	-7.63%	43.52%
Gross Profit	146	182.81	63.43	196.53	134.85	152.11
Operating Income	5.98	17.56	-78.47	125.32	94.65	97.19
Net Income	-194.03	-169.64	-65.6	116.02	104.23	98.5
Earnings Per Share	-0.94	-0.94	-0.36	0.66	0.58	0.58
EPS Growth	-	-	-	13.79%	0%	13.50%

Revenue by Segment

Fiscal Year	FY 2025
Period Ending	Dec '25 Dec 31, 2025
Glass Door Business	812
Photovoltaic Glass Business	726.44
Total	1,538

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	1,016	577.82	522.14	488.26	95.91	113.51
Total Debt	1,402	1,219	2,036	830	79.19	73.41
Net Cash (Debt)	-386.58	-640.9	-1,514	-341.75	16.72	40.11
Net Cash Growth	-	-	-	-	-58.31%	-
Net Cash Per Share	-1.87	-3.55	-8.31	-1.94	0.09	0.24

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	40.89	630.21	7.45	119.54	-49.58	16.61
Capital Expenditures	-30.05	-145.25	-1,126	-424.73	-24.66	-50.66
Free Cash Flow	10.84	484.96	-1,119	-305.19	-74.24	-34.05
Free Cash Flow Growth	-78.60%	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	9.93%	11.88%	6.25%	22.03%	17.68%	18.42%
Operating Margin	0.41%	1.14%	-7.73%	14.04%	12.41%	11.77%
Pretax Margin	-15.91%	-13.05%	-9.90%	13.58%	14.08%	12.71%
Profit Margin	-13.20%	-11.03%	-6.46%	13.00%	13.66%	11.93%
FCF Margin	0.74%	31.52%	-110.16%	-34.20%	-9.73%	-4.12%

Dividends

Fiscal Year	FY 2023	FY 2022	FY 2021
Period Ending	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.130	0.180	0.169
Dividend Per Share Growth	-27.78%	6.38%	9.94%
Dividend Yield	0.94%	1.43%	1.37%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 3, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	-	21.61	21.17	22.50
P/FCF Ratio	282.48	4.49	-	-	-	-
PS Ratio	2.08	1.42	2.11	2.81	2.89	2.68