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World's largest tin producer, mining and smelting tin plus copper, indium and other by-products in Yunnan.
World's largest tin producer, mining and smelting tin plus copper, indium and other by-products in Yunnan.
Sells refined tin at prices that follow the Shanghai and London tin markets; copper, indium and other by-products add income from the same ore. Tin is used in solder for electronics, so demand tracks electronics output.
In one line: The world's Alcoa-equivalent for tin.
Moat: narrow (scale). Produces roughly a tenth of world tin supply, giving cost scale few rivals match.
Headquarters: Kunming, Yunnan, China · Employees: 12,646
Size Yunnan Tin (000960.SZ) is a China Materials company (Other Metals/Minerals) with a market value of $5.66B, the 443rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.28 on 6 Nov 2026.
Performance Over six months the shares fell 34.0%, against -19.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 18.8% over the last twelve months (peer median +30.5%); the operating margin is 8.1% (peer median 27.3%).
Valuation It trades at 10.8× forward earnings against a peer median of 13.2× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +2 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 4.4 points above its cost of capital (9.9% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥55.8B | CN¥43.4B | CN¥41.5B | CN¥42.3B | CN¥51.9B |
| Revenue growth | — | +5% | -2% | -19% | — |
| Gross profit | CN¥8.14B | CN¥4.62B | CN¥3.33B | CN¥3.50B | CN¥4.49B |
| EBITDA | n/a | CN¥4.98B | CN¥3.90B | CN¥3.84B | CN¥3.66B |
| Net income | CN¥2.79B | CN¥1.97B | CN¥1.44B | CN¥1.41B | CN¥1.35B |
| Free cash flow | CN¥1.29B | CN¥665M | CN¥2.50B | CN¥1.51B | CN¥3.43B |
| Capital expenditure | CN¥667M | CN¥630M | CN¥909M | CN¥1.02B | CN¥1.73B |
| Total debt | CN¥13.1B | CN¥13.5B | CN¥12.4B | CN¥14.5B | CN¥15.6B |
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 |
|---|---|---|---|---|---|---|
| Yunnan Tin 000960.SZ | $5.66B | -34% | +19% | 8% | 10.8× | 1.9% |
| Alphamin Resources AFM.V | $1.12B | -15% | +45% | 54% | 4.1× | n/a |
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 | 000960.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.3% | -13.5% | 5th lowest of 21 |
| 6-month return | -34.0% | -19.8% | 6th lowest of 21 |
| Distance from 52-week high | -52.3% | -45.2% | 7th lowest of 21 |
| Revenue growth (TTM) | +18.8% | +30.5% | 5th lowest of 20 |
| Operating margin | 8.1% | 27.3% | 7th lowest of 20 |
| Forward P/E | 10.8× | 13.2× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 1.9% | 5.2% | 4th least demanding of 12 |
| Growth delivered (Del g) | -0.5% | +25.5% | lowest of 11 |
| Hurdle (Req g minus delivered) | +2.4 pp | -25.4 pp | most demanding of 11 |
| ROIC minus cost of capital | +4.4 pp | +5.7 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yunnan Tin 000960.SZ | China | $5.66B | -34% | +19% | 8% | 10.8× | 1.9% | -0.5% |
| Xinjiang Daqo New Energy 688303.SS | China | $5.69B | -20% | -23% | -62% | n/a | n/a | n/a |
| China Nonferrous Mining 1258.HK | Hong Kong | $5.73B | -19% | +11% | 28% | 7.4× | -14.6% | +5.8% |
| Yunnan Chihong Zinc & Germanium 600497.SS | China | $5.76B | -15% | +29% | 10% | 13.8× | 4.4% | +4.6% |
| NexGen Energy NXE.TO | Canada | $5.57B | -31% | n/a | n/a | n/a | n/a | n/a |
| Baiyin Nonferrous 601212.SS | China | $5.49B | -35% | 0% | 5% | n/a | n/a | n/a |
| Nanya New Material Technology 688519.SS | China | $5.90B | -5% | +104% | 17% | 55.2× | n/a | n/a |
| Capstone Copper CS.TO | Canada | $6.01B | -8% | +30% | 32% | 9.4× | 9.8% | +40.2% |
| Sandfire Resources SFR.AX | Australia | $6.20B | -4% | +32% | 32% | 13.3× | 9.2% | +25.8% |
| Inner Mongolia Xingye Silver and Tin Mining 000426.SZ | China | $6.23B | -42% | +38% | 49% | 13.1× | 7.8% | +42.6% |
| MP Materials MP | United States | $6.31B | -47% | +72% | -17% | 248.7× | n/a | n/a |
| Asia-Potash International Investment (Guangzhou) 000893.SZ | China | $5.08B | -32% | +40% | 36% | 11.6× | -3.3% | +72.1% |
| PLS PLS.AX | Australia | $6.33B | -56% | +152% | 43% | 10.6× | 2.5% | +61.6% |
| Yunnan Copper 000878.SZ | China | $5.01B | -28% | +10% | 2% | 11.9× | n/a | n/a |
| Luoyang Shenglong Mining 001257.SZ | China | $5.00B | -19% | +22% | 34% | n/a | 13.4% | +22.4% |
| Discovery Mining DSV.TO | Canada | $6.44B | +19% | +684% | 38% | 17.6× | 19.9% | n/a |
| Aura Minerals AUGO | United States | $6.52B | -5% | +89% | 53% | 10.6× | -6.0% | +25.2% |
| NMDC NMDC.NS | India | $6.55B | -22% | +27% | 27% | 7.4× | 5.2% | +15.8% |
| Grinm Advanced Materials 600206.SS | China | $4.85B | +40% | +23% | 2% | 72.2× | n/a | n/a |
| Aurubis NDA.DE | Germany | $6.73B | -35% | +23% | 6% | 15.1× | n/a | n/a |
| Yunnan Lincang Xinyuan Germanium Industry 002428.SZ | China | $7.09B | +3% | +54% | 13% | 230.8× | n/a | n/a |