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One of China's largest vanadium and titanium producers, mining and processing vanadium-titanium magnetite ore into vanadium products, titanium dioxide and steel.
One of China's largest vanadium and titanium producers, mining and processing vanadium-titanium magnetite ore into vanadium products, titanium dioxide and steel.
Mines vanadium-titanium iron ore in Panzhihua, in Sichuan, and sells the main products: vanadium for steel alloying, titanium products and steel, with vanadium prices swinging with steel demand and policy. Its parent Pangang Group is part of Ansteel Group, a state-owned steel group.
Moat: narrow (scale, installed base). Controls one of the world's largest vanadium-titanium magnetite ore deposits (Panzhihua), a scarce integrated resource.
Headquarters: Panzhihua, China · Employees: 3,182
Size Pangang Group Vanadium & Titanium Resources (000629.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $3.83B, the 671st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.75 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against -18.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 5.7% over the last twelve months (peer median +12.2%); the operating margin is 3.8% (peer median 13.3%).
Valuation It trades at 68.8× forward earnings against a peer median of 15.9× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +31 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.5 points below its cost of capital (9.5% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.80B | CN¥8.88B | CN¥13.2B | CN¥14.4B | CN¥15.1B |
| Revenue growth | — | -33% | -8% | -5% | — |
| Gross profit | CN¥1.37B | CN¥748M | CN¥961M | CN¥2.02B | CN¥2.39B |
| EBITDA | n/a | CN¥238M | CN¥594M | CN¥1.44B | CN¥1.71B |
| Net income | CN¥323M | -CN¥93.3M | CN¥285M | CN¥1.06B | CN¥1.34B |
| Free cash flow | CN¥468M | CN¥269M | CN¥234M | -CN¥213M | CN¥1.82B |
| Capital expenditure | CN¥116M | CN¥228M | CN¥505M | CN¥481M | CN¥148M |
| Total debt | CN¥440M | CN¥448M | CN¥274M | CN¥248M | CN¥350M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Pangang Group Vanadium & Titanium Resources 000629.SZ | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% |
| LB Group Co., Ltd. Class A 002601.SZ | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% |
| Tronox TROX | $401M | -72% | +4% | -3% | n/a | n/a |
| Chemours CC | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000629.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | -5.6% | 9th highest of 21 |
| 6-month return | -24.4% | -18.9% | 7th lowest of 20 |
| Distance from 52-week high | -38.8% | -39.2% | 9th highest of 21 |
| Revenue growth (TTM) | +5.7% | +12.2% | 8th lowest of 21 |
| Operating margin | 3.8% | 13.3% | lowest of 21 |
| Forward P/E | 68.8× | 15.9× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 27.2% | 4.5% | 3rd most demanding of 16 |
| Growth delivered (Del g) | -3.4% | +8.5% | lowest of 16 |
| Hurdle (Req g minus delivered) | +30.6 pp | -5.1 pp | most demanding of 16 |
| ROIC minus cost of capital | -5.5 pp | +1.6 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Mitsubishi Gas Chemical 4182.T | Japan | $3.78B | -31% | +3% | 8% | 10.6× | n/a | n/a |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| Novoray 688300.SS | China | $3.76B | -9% | +23% | 26% | 52.7× | 47.6% | +22.6% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| Ningbo Shanshan 600884.SS | China | $3.71B | -34% | +30% | 9% | 14.4× | 4.5% | +21.3% |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Cabot CBT | United States | $3.67B | -17% | +1% | 14% | 10.9× | -3.2% | +1.9% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| NOF 4403.T | Japan | $3.60B | -22% | +13% | 17% | 13.5× | -6.1% | +8.4% |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Guangzhou Guanggang Gases and Energy 688548.SS | China | $3.39B | -14% | +21% | 20% | 62.3× | n/a | n/a |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Red Avenue New Materials 9607.HK | Hong Kong | $4.35B | n/a | +30% | 9% | 26.9× | n/a | n/a |
| Inner Mongolia Berun Chemical 000683.SZ | China | $3.36B | -32% | +11% | 13% | 13.8× | n/a | n/a |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Hexpol HPOL-B.ST | Sweden | $3.30B | +28% | -1% | 14% | 15.6× | 3.1% | +7.6% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |