investorscraft@gmail.com

Stock Analysis & ValuationHUNAN RESUN Co., Ltd. (001218.SZ)

Professional Stock Screener
Previous Close
$25.70
Sector Valuation Confidence Level
Low
Valuation methodValue, $Upside, %
Artificial intelligence (AI)19.28-25
Intrinsic value (DCF)265.62934
Graham-Dodd Method11.16-57
Graham Formula16.59-35

Strategic Investment Analysis

Company Overview

HUNAN RESUN Co., Ltd. is a leading Chinese manufacturer of surfactants and detergents with a rich heritage dating back to 1956. Headquartered in Changsha, the company specializes in the research, development, production, and sale of a comprehensive portfolio of cleaning and personal care products, including washing powders, liquid detergents, soaps, toothpastes, and specialized hotel washing solutions. Operating within the Consumer Defensive sector, HUNAN RESUN has established a significant presence both domestically and internationally, exporting its products to approximately 50 countries and regions. The company's focus on surfactants—key active ingredients that lower surface tension in cleaning products—positions it as a critical supplier in the global household and personal care value chain. With its long-standing operational history and integrated R&D capabilities, HUNAN RESUN plays a vital role in China's consumer goods industry, catering to the essential needs of households and the hospitality sector while demonstrating resilience as a defensive stock. This SEO-optimized overview highlights HUNAN RESUN's business model, industry context, and sector relevance for investors seeking exposure to established Chinese consumer defensive companies.

Investment Summary

HUNAN RESUN presents a mixed investment profile characterized by defensive attributes and modest growth metrics. The company's low beta of 0.266 suggests relative stability compared to broader market movements, appealing to risk-averse investors. With a market capitalization of approximately CNY 2.63 billion, it operates as a small-cap player in the consumer defensive space. Financial health appears reasonable with a net income of CNY 109 million on revenue of CNY 3.65 billion, though profit margins are thin at around 3%. The company maintains a strong balance sheet with minimal total debt (CNY 1.72 million) against cash holdings of CNY 663 million, indicating financial prudence. A dividend yield derived from the CNY 0.51 per share payout provides income component. However, investors should note the modest earnings per share of CNY 0.83 and the capital-intensive nature evidenced by significant capital expenditures. The primary investment thesis revolves around HUNAN RESUN's defensive positioning, international footprint, and financial stability, though growth prospects appear limited given the mature nature of its core markets.

Competitive Analysis

HUNAN RESUN operates in the highly competitive household and personal products industry, where its competitive positioning is defined by several key factors. The company's primary competitive advantage stems from its specialized focus on surfactants—the essential chemical compounds that enable cleaning action in detergents. This technical expertise, developed over nearly seven decades since its 1956 founding, provides a manufacturing depth that distinguishes it from purely branded consumer product companies. HUNAN RESUN's dual role as both a B2B ingredient supplier and B2C finished goods producer creates diversification benefits, though it faces competition on both fronts. In the domestic Chinese market, the company competes with larger, more diversified consumer goods conglomerates that benefit from greater scale, brand recognition, and distribution networks. Its international exports to 50 countries demonstrate global competency but likely face margin pressure from commoditized product categories and competition from lower-cost manufacturers. The company's competitive positioning is further shaped by its relatively small size (CNY 2.63B market cap) within an industry dominated by giants, limiting its marketing and R&D resources compared to global leaders. However, HUNAN RESUN's minimal debt load and strong cash position provide financial flexibility that could support niche market expansion or product specialization. The company's longevity and established manufacturing capabilities represent enduring strengths, though its ability to differentiate in crowded market segments remains a persistent challenge. Competitive advantages appear more pronounced in technical manufacturing rather than brand-driven consumer facing businesses.

Major Competitors

  • Shanghai Jahwa United Co., Ltd. (600315.SS): Shanghai Jahwa is a major Chinese personal care company with strong brand portfolio including Herborist and Liushen. The company benefits from extensive domestic distribution networks and brand recognition that HUNAN RESUN lacks. However, Jahwa focuses more on branded consumer products rather than surfactant manufacturing, creating different competitive dynamics. Jahwa's larger scale provides advantages in marketing and channel access, but HUNAN RESUN's technical expertise in surfactant production represents a differentiating capability.
  • Vinda International Holdings Limited (3336.HK): Vinda is a leading tissue and personal care company in China with strong market position in hygiene products. As part of the Essity group, Vinda benefits from global R&D and brand resources that HUNAN RESUN cannot match. Vinda's focus on disposable hygiene products creates some market overlap in personal care, but different core competencies. HUNAN RESUN's surfactant expertise provides manufacturing advantages that Vinda lacks, though Vinda's stronger consumer brands and distribution represent significant competitive threats.
  • Zhejiang Longsheng Group Co., Ltd. (600352.SS): Zhejiang Longsheng is a chemical company with significant operations in dyes and intermediates, but also competes in surfactant and specialty chemical markets. The company's larger scale and diversified chemical portfolio create competitive pressure on HUNAN RESUN's core surfactant business. Longsheng's extensive manufacturing capabilities and global reach represent direct competition, though HUNAN RESUN's focused approach on detergent applications may provide niche advantages. Both companies export globally, creating international market overlap.
  • Procter & Gamble Company (PG): As a global consumer goods giant, PG represents the ultimate scale competition in detergent and personal care markets. PG's massive R&D budget, global brand portfolio (Tide, Ariel), and distribution dominance create significant competitive barriers. However, HUNAN RESUN's focus on surfactant manufacturing and regional market expertise provides differentiation. While PG competes in finished goods, HUNAN RESUN's B2B surfactant supply business may actually complement rather than directly compete with PG's operations in some contexts.
  • Unilever PLC (UL): Unilever's global presence in home care and personal products makes it a formidable competitor in markets where HUNAN RESUN operates. Unilever's brand strength (Omo, Surf Excel), sustainability focus, and innovation capabilities create significant competitive advantages. However, HUNAN RESUN's cost structure and regional manufacturing focus allow it to compete effectively in specific market segments and price points. Unilever's scale is overwhelming, but HUNAN RESUN's specialization and agility provide niche opportunities.
  • Shanghai AtHub Co., Ltd. (603214.SS): While primarily an IT company, AtHub's chemical division produces surfactants and intermediates, creating direct competition with HUNAN RESUN's core business. The company's technological capabilities and growing chemical operations represent emerging competition in the surfactant space. HUNAN RESUN's longer history and focused expertise in detergent applications provide competitive advantages, but AtHub's diversification and technological resources create meaningful competition in specific product categories.
HomeMenuAccount