Jiangsu Fengshan GroupLtd's recent revenue performance is believed to be insufficient to keep up with the industry, leading to a lower P/S ratio. The company's revenue trends over the past three years, falling short of industry expectations, are a key factor in this. Investors feel the potential for revenue improvement doesn't justify a higher P/S ratio.

Jiangsu Fengshan GroupLtd may be losing its competitive edge as declining ROCE and revenue are observed despite increased capital deployment. The depreciating stock over the past five years reflects these negative trends.

Despite a recent surge in share price, the company's revenue trends and growth rates lag behind industry averages, potentially setting up investors for future disappointment. If current medium-term conditions don't improve, the share price may not reflect fair value.