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SHA/600938 (SHA/600938)

Shanghai Stock Exchange: SHA/600938 · CNY

CN¥34.9

-0.41 (-1.2%)· Recorded snapshot

Market cap	1T
Revenue (ttm)	433.3B
Net income (ttm)	138.4B
EPS (ttm)	CN¥2.86
P/E (trailing)	12.2x
P/E (forward)	6.6x
Dividend	CN¥1.29 (3.71%)
Volume	46,201,802
Beta	0.38

Market data

Price

Recent price action with selectable time range.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-30
Employees	22,045
Employees change	-136
Employees growth	-0.61%
Enterprise value	CNY 762.7B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1999
Industry	Oil & Gas Exploration & Production
Is primary listing	No
ISIN number	CNE100005980
Last earnings date	2026-08-26
Last refreshed	2026-10-28
Market cap	CNY 1T
Next earnings date	2026-10-30
Price	CNY 34.85
Price currency	CNY
Sector	Energy
SIC code	1311
Stock price date	2026-10-28
Symbol	sha/600938

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-30

Employees

22,045

Employees change

-136

Employees growth

-0.61%

Enterprise value

CNY 762.7B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-06-30

First seen

2026-05-10

Fiscal year end

December

Founded

1999

Industry

Oil & Gas Exploration & Production

Is primary listing

ISIN number

CNE100005980

Last earnings date

2026-08-26

Last refreshed

2026-10-28

Market cap

CNY 1T

Next earnings date

2026-10-30

Price

CNY 34.85

Price currency

CNY

Sector

Energy

SIC code

1311

Stock price date

2026-10-28

Symbol

sha/600938

Metric	Value
Average P/E ratio (10Y)	23.93x
Average P/E ratio (3Y)	6.59x
Average P/E ratio (5Y)	5.55x
Earnings yield	8.19%
EV/Earnings	5.51x
EV/EBIT	4.2x
EV/EBITDA	2.89x
EV/FCF	5.92x
EV/Sales	1.79x
FCF / EV yield	16.89%
FCF yield	12.71%
Forward P/E	6.63x
Graham number	56.20797
Graham upside	61.29%
Industry P/E	69.27x
Lynch fair value	CNY 112.43
Lynch upside	222.6%
P/B ratio	1.18x
P/E ratio	12.2x
P/FCF ratio	7.87x
P/OCF ratio	4.2x
P/S ratio	2.34x
Price / tangible book value	1.21x
Price/EBITDA ratio	3.8x
Sector forward P/E	13.62x
Sector P/E	19.48x

Metric

Value

Average P/E ratio (10Y)

23.93x

Average P/E ratio (3Y)

6.59x

Average P/E ratio (5Y)

5.55x

Earnings yield

8.19%

EV/Earnings

5.51x

EV/EBIT

4.2x

EV/EBITDA

2.89x

EV/FCF

5.92x

EV/Sales

1.79x

FCF / EV yield

16.89%

FCF yield

12.71%

Forward P/E

6.63x

Graham number

56.20797

Graham upside

61.29%

Industry P/E

69.27x

Lynch fair value

CNY 112.43

Lynch upside

222.6%

P/B ratio

1.18x

P/E ratio

12.2x

P/FCF ratio

7.87x

P/OCF ratio

4.2x

P/S ratio

2.34x

Price / tangible book value

1.21x

Price/EBITDA ratio

3.8x

Sector forward P/E

13.62x

Sector P/E

19.48x

Metric	Value
EBIT margin	42.78%
EBITDA margin	61.51%
Effective tax rate	26.56%
FCF margin	29.73%
Gross margin	75.94%
Operating margin	42.78%
Pretax margin	43.5%
Profit margin	31.94%
Profit per employee	CNY 6.3M
Profitable quarters	20
Profitable years	28
Revenue per employee	CNY 19.7M
ROA	9.98%
ROA (5Y)	10.66%
ROCE	17.46%
ROE	16.81%
ROE (5Y)	19.27%
ROIC	21.9%
ROIC (5Y)	21.11%
Tax / revenue	11.56%

Metric

Value

EBIT margin

42.78%

EBITDA margin

61.51%

Effective tax rate

26.56%

FCF margin

29.73%

Gross margin

75.94%

Operating margin

42.78%

Pretax margin

43.5%

Profit margin

31.94%

Profit per employee

CNY 6.3M

Profitable quarters

Profitable years

Revenue per employee

CNY 19.7M

ROA

9.98%

ROA (5Y)

10.66%

ROCE

17.46%

ROE

16.81%

ROE (5Y)

19.27%

ROIC

21.9%

ROIC (5Y)

21.11%

Tax / revenue

11.56%

Metric	Value
EPS growth	8.63%
EPS growth (Q)	42.92%
EPS growth (QoQ)	20.28%
EPS growth 3Y	1.28%
EPS growth 5Y	22.1%
EPS growth quarters	1
EPS growth years	0
FCF growth	42.35%
FCF growth (Q)	145.95%
FCF growth (QoQ)	128.95%
FCF growth 3Y	12.37%
FCF growth 5Y	86.83%
Gross profit growth	2.36%
Gross profit growth (Q)	33.69%
Gross profit growth 3Y	0.89%
Gross profit growth 5Y	23%
Net income growth	8.32%
Net income growth (Q)	41.57%
Net income growth (QoQ)	19.24%
Net income growth 3Y	1.18%
Net income growth 5Y	23.63%
Net income growth quarters	1
Net income growth years	0
OCF growth	14.17%
OCF growth (Q)	66.61%
OCF growth (QoQ)	56.82%
OCF growth 10Y	11.68%
OCF growth 3Y	5.96%
OCF growth 5Y	16.55%
Operating income growth	5.27%
Operating income growth (Q)	36.19%
Operating income growth 3Y	1.63%
Operating income growth 5Y	24.58%
Revenue growth	7.96%
Revenue growth (Q)	25.63%
Revenue growth (QoQ)	9.05%
Revenue growth 10Y	11.28%
Revenue growth 3Y	1.7%
Revenue growth 5Y	17.79%
Revenue growth quarters	1
Revenue growth years	0

Metric

Value

EPS growth

8.63%

EPS growth (Q)

42.92%

EPS growth (QoQ)

20.28%

EPS growth 3Y

1.28%

EPS growth 5Y

22.1%

EPS growth quarters

EPS growth years

FCF growth

42.35%

FCF growth (Q)

145.95%

FCF growth (QoQ)

128.95%

FCF growth 3Y

12.37%

FCF growth 5Y

86.83%

Gross profit growth

2.36%

Gross profit growth (Q)

33.69%

Gross profit growth 3Y

0.89%

Gross profit growth 5Y

23%

Net income growth

8.32%

Net income growth (Q)

41.57%

Net income growth (QoQ)

19.24%

Net income growth 3Y

1.18%

Net income growth 5Y

23.63%

Net income growth quarters

Net income growth years

OCF growth

14.17%

OCF growth (Q)

66.61%

OCF growth (QoQ)

56.82%

OCF growth 10Y

11.68%

OCF growth 3Y

5.96%

OCF growth 5Y

16.55%

Operating income growth

5.27%

Operating income growth (Q)

36.19%

Operating income growth 3Y

1.63%

Operating income growth 5Y

24.58%

Revenue growth

7.96%

Revenue growth (Q)

25.63%

Revenue growth (QoQ)

9.05%

Revenue growth 10Y

11.28%

Revenue growth 3Y

1.7%

Revenue growth 5Y

17.79%

Revenue growth quarters

Revenue growth years

Metric	Value
Capital expenditures	CNY -112.7B
Depreciation and amortization	CNY 81.2B
EBIT	CNY 185.3B
EBITDA	CNY 266.5B
EPS	CNY 2.86
Financing cash flow	CNY -66.9B
Free cash flow	CNY 128.8B
Gross profit	CNY 329B
Income taxes	CNY 50.1B
Investing cash flow	CNY -106.2B
Net borrowing	CNY -4.3B
Net cash flow	CNY 67.6B
Net income	CNY 138.4B
Operating income	CNY 185.3B
Revenue	CNY 433.3B

Metric

Value

Capital expenditures

CNY -112.7B

Depreciation and amortization

CNY 81.2B

EBIT

CNY 185.3B

EBITDA

CNY 266.5B

EPS

CNY 2.86

Financing cash flow

CNY -66.9B

Free cash flow

CNY 128.8B

Gross profit

CNY 329B

Income taxes

CNY 50.1B

Investing cash flow

CNY -106.2B

Net borrowing

CNY -4.3B

Net cash flow

CNY 67.6B

Net income

CNY 138.4B

Operating income

CNY 185.3B

Revenue

CNY 433.3B

Metric	Value
Altman Z-Score	3.77
Book value per share	CNY 18.01
Debt / EBITDA	0.25
Debt / equity	0.08
Debt / FCF	0.53
Goodwill	CNY 14.5B
Interest coverage	74.05
Long-term assets	CNY 808.7B
Long-term liabilities	CNY 203.3B
Net cash (debt)	CNY 258.2B
Net cash / market cap	25.47%
Net cash growth	40.11%
Net debt / EBITDA	-0.97
Net debt / equity	-0.3
Net debt / FCF	-2
Piotroski F-Score	7
Property, plant and equipment	CNY 685B
Shareholders' equity	CNY 858.6B
Tangible book value	CNY 838.2B
Tangible book value per share	CNY 17.63
Total assets	CNY 1.2T
Total cash	CNY 326.3B
Total debt	CNY 68.1B
Total liabilities	CNY 343.9B
WACC	6.11%

Metric

Value

Altman Z-Score

3.77

Book value per share

CNY 18.01

Debt / EBITDA

0.25

Debt / equity

0.08

Debt / FCF

0.53

Goodwill

CNY 14.5B

Interest coverage

74.05

Long-term assets

CNY 808.7B

Long-term liabilities

CNY 203.3B

Net cash (debt)

CNY 258.2B

Net cash / market cap

25.47%

Net cash growth

40.11%

Net debt / EBITDA

-0.97

Net debt / equity

-0.3

Net debt / FCF

-2

Piotroski F-Score

Property, plant and equipment

CNY 685B

Shareholders' equity

CNY 858.6B

Tangible book value

CNY 838.2B

Tangible book value per share

CNY 17.63

Total assets

CNY 1.2T

Total cash

CNY 326.3B

Total debt

CNY 68.1B

Total liabilities

CNY 343.9B

WACC

6.11%

Metric	Value
Asset turnover	0.37
Current assets	CNY 393.8B
Current liabilities	CNY 140.7B
Current ratio	2.8
Inventory turnover	16.08
Net working capital	CNY -69.1B
Quick ratio	2.68
Working capital	CNY 253.1B
Working capital turnover	1.98

Metric

Value

Asset turnover

0.37

Current assets

CNY 393.8B

Current liabilities

CNY 140.7B

Current ratio

2.8

Inventory turnover

16.08

Net working capital

CNY -69.1B

Quick ratio

2.68

Working capital

CNY 253.1B

Working capital turnover

1.98

Metric	Value
Buyback yield / dilution	0.01%
Dividend growth	1.64%
Dividend growth (3Y)	2%
Dividend growth years	0
Dividend payment date	2026-10-16
Dividend payment years	5
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 1.29
Dividend yield	3.71%
Ex-dividend date	2026-10-16
Last dividend	CNY 0.81
Payout ratio	43.37%
Shareholder yield	3.72%

Metric

Value

Buyback yield / dilution

0.01%

Dividend growth

1.64%

Dividend growth (3Y)

Dividend growth years

Dividend payment date

2026-10-16

Dividend payment years

Dividend payout frequency

Semi-Annual

Dividend per share

CNY 1.29

Dividend yield

3.71%

Ex-dividend date

2026-10-16

Last dividend

CNY 0.81

Payout ratio

43.37%

Shareholder yield

3.72%

Metric	Value
150-day SMA	CNY 34.27
1D price change	-1.16%
1M price change	6.25%
1M total return	8.79%
1W price change	-0.43%
1W total return	-0.43%
1Y price change	25.68%
1Y return CAGR	30.92%
1Y total return	30.9%
20-day SMA	CNY 34.28
200-day SMA	CNY 34.32
3M price change	10.46%
3M total return	13.1%
3Y price change	75.13%
3Y return CAGR	25.88%
3Y total return	99.52%
50-day SMA	CNY 33.82
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 44.54
52-week high date	2026-03-09
52-week low	CNY 26.40
52-week low date	2026-07-02
6M price change	-10.23%
6M total return	-6.5%
All-time high	CNY 44.54
All-time high date	2026-03-09
All-time low	CNY 12.96
All-time low date	2022-04-21
Average true range (ATR)	CNY 1.06
Average volume	43.3M
Beta (5Y)	0.38
Change from 52-week high	-21.76%
Change from 52-week low	32.01%
Change from all-time high	-21.76%
Change from all-time low	168.9%
Change from open	-0.29%
Day's gap	-0.88%
Dollar volume	CNY 1.6B
High price	CNY 35.09
Low price	CNY 34.36
Monthly RSI	57.65
Open price	CNY 34.95
Position in 52-week range	67.12%
Previous close	CNY 35.26
Price vs 150-day SMA	1.7%
Price vs 20-day SMA	1.65%
Price vs 200-day SMA	1.54%
Price vs 50-day SMA	3.04%
Relative volume	1.07
RSI	54.41
Sharpe ratio	0.95
Sharpe ratio (3Y)	0.78
Sortino ratio	1.76
Sortino ratio (3Y)	1.39
Volume	46.2M
Weekly RSI	55.23
YTD price change	15.47%
YTD total return	20.27%

Metric

Value

150-day SMA

CNY 34.27

1D price change

-1.16%

1M price change

6.25%

1M total return

8.79%

1W price change

-0.43%

1W total return

-0.43%

1Y price change

25.68%

1Y return CAGR

30.92%

1Y total return

30.9%

20-day SMA

CNY 34.28

200-day SMA

CNY 34.32

3M price change

10.46%

3M total return

13.1%

3Y price change

75.13%

3Y return CAGR

25.88%

3Y total return

99.52%

50-day SMA

CNY 33.82

50-day SMA vs 200-day SMA

50under200

52-week high

CNY 44.54

52-week high date

2026-03-09

52-week low

CNY 26.40

52-week low date

2026-07-02

6M price change

-10.23%

6M total return

-6.5%

All-time high

CNY 44.54

All-time high date

2026-03-09

All-time low

CNY 12.96

All-time low date

2022-04-21

Average true range (ATR)

CNY 1.06

Average volume

43.3M

Beta (5Y)

0.38

Change from 52-week high

-21.76%

Change from 52-week low

32.01%

Change from all-time high

-21.76%

Change from all-time low

168.9%

Change from open

-0.29%

Day's gap

-0.88%

Dollar volume

CNY 1.6B

High price

CNY 35.09

Low price

CNY 34.36

Monthly RSI

57.65

Open price

CNY 34.95

Position in 52-week range

67.12%

Previous close

CNY 35.26

Price vs 150-day SMA

1.7%

Price vs 20-day SMA

1.65%

Price vs 200-day SMA

1.54%

Price vs 50-day SMA

3.04%

Relative volume

1.07

RSI

54.41

Sharpe ratio

0.95

Sharpe ratio (3Y)

0.78

Sortino ratio

1.76

Sortino ratio (3Y)

1.39

Volume

46.2M

Weekly RSI

55.23

YTD price change

15.47%

YTD total return

20.27%

Metric	Value
Float	17.2B
Shares change (QoQ)	-0.87%
Shares change (YoY)	-0.01%
Shares held by insiders	0%
Shares held by institutions	4.06%

Metric

Value

Float

17.2B

Shares change (QoQ)

-0.87%

Shares change (YoY)

-0.01%

Shares held by insiders

Shares held by institutions

4.06%

SHA/600938 (SHA/600938)

Price

Financial snapshot

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Profitability

Balance sheet

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All SHA/600938 indicators

Profile and market data

Valuation

Profitability

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Dividends and buybacks

Performance and technicals

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Frequently asked questions