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Operator of Tibet's Zabuye salt-lake lithium brine deposit, also selling boron and other salt-lake minerals.
Operator of Tibet's Zabuye salt-lake lithium brine deposit, also selling boron and other salt-lake minerals.
Produces lithium carbonate by evaporating brine from the high-altitude Zabuye salt lake, then sells it to battery-material makers, so income tracks the lithium price. Boron and potassium products come from the same brine.
In one line: A small US salt-lake lithium producer like early-stage Standard Lithium.
Moat: narrow (scale, regulatory licence). Holds exclusive rights to develop the high-altitude Zabuye brine, one of China's richest lithium salt lakes.
Headquarters: Lhasa, Tibet, China · Founded: 1997 · Employees: 412
Size Tibet Mineral Development (000762.SZ) is a China Materials company (Other Metals/Minerals) with a market value of $1.50B, the 1635th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.21 on 6 Nov 2026.
Performance Over six months the shares fell 50.4%, against -28.2% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 269.8% over the last twelve months (peer median +13.8%); the operating margin is 20.3% (peer median 4.6%).
Valuation It trades at 12.6× enterprise value to sales against a peer median of 2.8× (5th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 33% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +34 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 7.6 points below its cost of capital (12.4% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥863M | CN¥350M | CN¥619M | CN¥801M | CN¥2.19B |
| Revenue growth | — | -43% | -23% | -63% | — |
| Gross profit | CN¥476M | CN¥97.9M | CN¥277M | CN¥532M | CN¥1.98B |
| EBITDA | n/a | CN¥81.9M | CN¥168M | CN¥523M | CN¥1.84B |
| Net income | CN¥64.8M | -CN¥30.2M | CN¥112M | CN¥164M | CN¥795M |
| Free cash flow | CN¥168M | CN¥129M | -CN¥380M | -CN¥110M | CN¥588M |
| Capital expenditure | CN¥269M | CN¥48.5M | CN¥772M | CN¥530M | CN¥1.23B |
| Total debt | CN¥1.42B | CN¥1.39B | CN¥1.32B | CN¥1.77B | CN¥1.21B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Tibet Mineral Development 000762.SZ | $1.50B | -50% | +270% | 20% | 12.6× | 33.1% |
| Tianqi Lithium 002466.SZ | $8.97B | -54% | +104% | 57% | 3.5× | -1.2% |
| Ganfeng Lithium 002460.SZ | $9.71B | -57% | +128% | 18% | 2.3× | 4.4% |
| Qinghai Salt Lake Industry 000792.SZ | $17.8B | -41% | +48% | 57% | 3.9× | -2.7% |
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 | 000762.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | -7.1% | 11th highest of 21 |
| 6-month return | -50.4% | -28.2% | 5th lowest of 21 |
| Distance from 52-week high | -53.6% | -46.7% | 9th lowest of 21 |
| Revenue growth (TTM) | +269.8% | +13.8% | highest of 18 |
| Operating margin | 20.3% | 4.6% | 5th highest of 19 |
| EV / Sales | 12.6× | 2.8× | 5th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 33.1% | 12.8% | 2nd most demanding of 8 |
| Growth delivered (Del g) | -1.3% | +16.5% | lowest of 8 |
| Hurdle (Req g minus delivered) | +34.5 pp | -9.1 pp | most demanding of 8 |
| ROIC minus cost of capital | -7.6 pp | -5.3 pp | 8th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tibet Mineral Development 000762.SZ | China | $1.50B | -50% | +270% | 20% | 12.6× | 33.1% | -1.3% |
| Nexa Resources NEXA | United States | $1.51B | -20% | +27% | 22% | 0.9× | -17.4% | +8.9% |
| Baowu Magnesium Technology 002182.SZ | China | $1.54B | -34% | +4% | 0% | 1.8× | n/a | n/a |
| China Kings Resources 603505.SS | China | $1.55B | -33% | -11% | -1% | 4.5× | n/a | n/a |
| Tibet Summit Resources 600338.SS | China | $1.56B | -59% | +54% | 30% | 3.2× | 12.8% | +16.5% |
| Liontown LTR.AX | Australia | $1.43B | -75% | +115% | 8% | 3.1× | 38.7% | +303.2% |
| Innuovo Technology 000795.SZ | China | $1.42B | -8% | +21% | 5% | 2.1× | n/a | n/a |
| Atalaya Mining Copper ATYM.L | United Kingdom | $1.71B | -2% | +20% | 29% | 2.4× | 6.5% | +13.0% |
| RHI Magnesita RHIM.L | United Kingdom | $1.74B | +2% | -1% | 11% | 0.9× | 3.0% | +7.5% |
| Yellow Cake YCA.L | United Kingdom | $1.74B | -12% | n/a | n/a | n/a | n/a | n/a |
| Baoji Titanium Industry 600456.SS | China | $1.76B | -26% | +14% | 7% | 2.5× | n/a | n/a |
| Nanjing Hanrui Cobalt 300618.SZ | China | $1.27B | -49% | +11% | 4% | 1.6× | n/a | n/a |
| Iluka Resources ILU.AX | Australia | $1.77B | -30% | -20% | -29% | 4.2× | n/a | n/a |
| Nickel Industries NIC.AX | Australia | $1.78B | -46% | -3% | 10% | 1.8× | 13.1% | +27.5% |
| Energy Fuels EFR.TO | Canada | $1.78B | -70% | +70% | -79% | 14.2× | n/a | n/a |
| Yantai Zhenghai Magnetic Material 300224.SZ | China | $1.79B | -1% | +16% | 5% | 1.7× | 20.1% | +29.2% |
| Jiangsu ToLand Alloy 300855.SZ | China | $1.83B | -21% | +75% | 28% | 7.1× | n/a | n/a |
| Evolution Metals & Technologies EMAT | United States | $1.23B | -79% | n/a | -548% | 356.1× | n/a | n/a |
| North Long Dragon New Materials Tech 301357.SZ | China | $1.23B | -20% | -9% | -23% | 49.9× | n/a | n/a |
| Ivanhoe Electric IE | United States | $1.21B | -45% | -21% | -3,916% | 328.4× | n/a | n/a |
| Faraday Copper FDY.TO | Canada | $1.21B | -18% | n/a | n/a | n/a | n/a | n/a |