Stock

Qingdao Kingking Applied Chemistry Co.

002094.SZ

Household & Personal Products · Consumer Defensive

Price

¥5.03

+0.14 (+2.86%)

Market Cap

¥3.48B

Exchange

Shenzhen Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

5/30

Growth

Weak

2/20

Cash Flow

Weak

0/10

Stability

Mixed

3/10

Valuation

Data not available

0/10

Ownership

Mixed

6/15

Dividends

Good

3/5

19 of 100 counted points = Winston Score 19.

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Share count falling — buybacks

−14.1% over 3y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 817.1M (2022) → 702.0M (2025)

§Winston Score History

The full picture

Qingdao Kingking Applied Chemistry is a Chinese company that makes household cleaning and personal care products. Its core products include laundry detergent, soap, and other daily-use chemical items sold mainly to consumers across China. It is one of the larger domestic brands in China's competitive household products market.

The company earns revenue primarily by selling its products through retail channels, supermarkets, and e-commerce platforms throughout China. With a market cap around $3.4 billion, Kingking has meaningful brand recognition domestically, though it faces intense competition from both global giants and local rivals. Operating margins have been very thin, and the key challenge ahead is improving profitability while defending market share in a price-sensitive category where raw material costs can fluctuate significantly.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-1.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-99.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

¥37M/ year

↓ Declining (-14% vs prior year)

2.2% of revenue

In line with sector average (2%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

4.0%ownership

Relatively low insider ownership

Cash Runway

~4 years

¥1.6B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

¥1.6B cash & investments at current burn rate

Revenue declining

Qingdao Kingking Applied Chemistry Co.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

19.8%

Thin — 19.8% gross margin

Profit after running costs

Operating Margin

2.2%

Thin — 2.2% operating margin

Return on the money invested

ROCE

0.0%

Weak — 0.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-7.1%

Shrinking sales (-7.1% YoY)

Profit growth

EPS YoY

-134.3%

Earnings shrinking (-134.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-8.2%

Burning cash (-8.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.95

Moderate — manageable debt (0.95)

Covers its interest

Interest Cover

0.02x

Dangerous — barely covers interest (0.0x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

4.86%

Healthy income — 4.86% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

N/A

Data not available

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