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Stock Analysis & ValuationYuanli Chemical Group Co.,Ltd. (603217.SS)

Professional Stock Screener
Previous Close
$27.06
Sector Valuation Confidence Level
Moderate
Valuation methodValue, $Upside, %
Artificial intelligence (AI)24.85-8
Intrinsic value (DCF)11.81-56
Graham-Dodd Method15.04-44
Graham Formula9.95-63

Strategic Investment Analysis

Company Overview

Yuanli Chemical Group Co., Ltd. is a prominent Chinese fine chemicals manufacturer specializing in the research, development, production, and sale of high-value chemical products. Founded in 2003 and headquartered in Weifang, China, the company has established itself as a key player in the basic materials sector, focusing on green solvents, dibasic alcohol products, special plasticizers, and coalescing agents. Yuanli Chemical serves a diverse global clientele across 50 countries, catering to critical industries including coatings, polymers, plastic additives, pigments, pharmaceuticals, and specialty chemicals. The company's strategic positioning in China's chemical manufacturing hub provides significant advantages in supply chain efficiency and production scalability. With its rebranding from Shandong Yuanli Science and Technology Co., Ltd., the company has strengthened its market presence and technological capabilities. Yuanli Chemical's commitment to green chemistry and sustainable solutions positions it well in the evolving global chemicals landscape, where environmental regulations and demand for eco-friendly products are driving market transformation. The company's extensive product portfolio and international reach make it an important contributor to China's chemical export economy and a significant player in the global fine chemicals market.

Investment Summary

Yuanli Chemical presents a mixed investment profile with several notable strengths and concerns. The company demonstrates solid profitability with net income of CNY 207 million on revenue of CNY 2.22 billion, translating to a healthy net margin of approximately 9.3%. The diluted EPS of CNY 1.01 and dividend per share of CNY 0.35 indicate shareholder-friendly capital allocation. Financially, the company maintains a strong liquidity position with CNY 1.84 billion in cash against CNY 610 million in total debt, providing financial flexibility. However, concerning signals include weak operating cash flow of only CNY 46.8 million relative to net income, suggesting potential working capital challenges or aggressive revenue recognition. The negative capital expenditures of CNY -98.2 million may indicate underinvestment in growth capacity. The low beta of 0.281 suggests defensive characteristics but limited growth correlation. Investors should weigh the company's solid profitability and clean balance sheet against potential operational efficiency issues and constrained growth investment.

Competitive Analysis

Yuanli Chemical operates in the highly competitive fine chemicals sector, where its competitive positioning is defined by several key factors. The company's primary advantage lies in its specialized product portfolio focused on green solvents and specialty chemicals, which differentiates it from commodity chemical producers. Its location in Weifang, within China's major chemical manufacturing region, provides significant cost advantages through proximity to raw materials and established supply chains. The global reach spanning 50 countries demonstrates Yuanli's ability to compete internationally, though it faces intense competition from both domestic Chinese producers and multinational chemical giants. The company's scale, with approximately CNY 2.2 billion in revenue, positions it as a mid-sized player capable of serving diverse industrial customers while maintaining flexibility. However, Yuanli faces challenges in competing with larger competitors who benefit from greater R&D budgets and broader product portfolios. The company's focus on green chemistry aligns with global sustainability trends, potentially providing a competitive edge in environmentally conscious markets. Its financial strength with minimal debt relative to cash reserves offers stability but may also indicate conservative growth strategies compared to more aggressive competitors. The competitive landscape requires continuous innovation and cost management to maintain market position against both low-cost producers and technology-driven multinationals.

Major Competitors

  • Wanhua Chemical Group Co., Ltd. (600309.SS): Wanhua Chemical is China's leading MDI producer and a global chemical giant with significantly larger scale than Yuanli. Its strengths include massive production capacity, extensive R&D capabilities, and vertical integration. However, Wanhua focuses primarily on polyurethane products rather than Yuanli's specialty in green solvents and plasticizers. Wanhua's size provides cost advantages but may limit flexibility in niche markets where Yuanli competes.
  • Satellite Chemical Co., Ltd. (002648.SZ): Satellite Chemical specializes in petrochemicals and derivatives, competing with Yuanli in certain chemical intermediates. Its strengths include integrated production facilities and strong market position in China. However, Satellite's focus on larger-volume petrochemicals differs from Yuanli's fine chemicals specialization. Satellite's scale advantages are offset by Yuanli's potentially higher margins in specialty segments.
  • BASF SE (BAS.DE): BASF is the world's largest chemical producer with a comprehensive product portfolio that overlaps with Yuanli's offerings. Its strengths include global distribution, massive R&D investment, and technological leadership. However, BASF's higher cost structure and focus on premium segments may leave room for Yuanli in price-sensitive markets. Yuanli competes by offering cost-effective alternatives to BASF's premium products.
  • Dow Inc. (DOW): Dow is a global materials science leader with significant operations in plastics and performance chemicals. Its strengths include brand recognition, technological expertise, and global reach. However, Dow's focus on large-volume applications and higher-cost manufacturing bases creates opportunities for Yuanli in specific specialty chemical niches. Yuanli competes through cost advantages and targeted product development.
  • Luxi Chemical Group Co., Ltd. (000830.SZ): Luxi Chemical is a major Chinese chemical producer with fertilizer and chemical operations that partially overlap with Yuanli's markets. Its strengths include large-scale production and domestic market presence. However, Luxi's focus on commodity chemicals differs from Yuanli's specialty orientation. Yuanli's competitive advantage lies in higher-value, technically demanding products where Luxi may have less expertise.
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