Loading…
Yunnan miner and processor turning germanium ore into infrared optics, fiber-optic and solar-cell materials.
Yunnan miner and processor turning germanium ore into infrared optics, fiber-optic and solar-cell materials.
Starts from its own germanium-bearing coal deposits in Lincang, Yunnan, one of few sources in the world, and sells refined germanium and the products made from it. China's 2023 export licensing on germanium shapes where it can sell abroad.
In one line: A niche germanium/rare-metal materials producer, no clear US peer.
Moat: narrow (scale, process know-how). Controls germanium ore reserves and decades of refining know-how in a metal with few producers.
Headquarters: Lincang, Yunnan, China · Employees: 1,370
Size Yunnan Lincang Xinyuan Germanium Industry (002428.SZ) is a China Materials company (Other Metals/Minerals) with a market value of $7.09B, the 352nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥72.43 on 6 Nov 2026.
Performance Over six months the shares gained 3.5%, against -19.8% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 53.7% over the last twelve months (peer median +34.6%); the operating margin is 13.5% (peer median 26.0%).
Valuation It trades at 230.8× forward earnings against a peer median of 13.6× (2nd most expensive of 20).
Capital Return on invested capital runs 2.6 points below its cost of capital (11.7% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.63B | CN¥1.06B | CN¥766M | CN¥670M | CN¥536M |
| Revenue growth | — | +39% | +14% | +25% | — |
| Gross profit | CN¥537M | CN¥194M | CN¥195M | CN¥97.6M | CN¥43.3M |
| EBITDA | n/a | CN¥158M | CN¥177M | CN¥103M | CN¥9.57M |
| Net income | CN¥178M | CN¥20.1M | CN¥53.1M | CN¥6.97M | -CN¥62.4M |
| Free cash flow | -CN¥126M | -CN¥283M | -CN¥63.2M | -CN¥208M | -CN¥53.6M |
| Capital expenditure | CN¥295M | CN¥95.8M | CN¥27.7M | CN¥55.2M | CN¥161M |
| Total debt | CN¥1.44B | CN¥1.50B | CN¥1.33B | CN¥707M | CN¥610M |
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 Lincang Xinyuan Germanium Industry 002428.SZ | $7.09B | +3% | +54% | 13% | 230.8× | n/a |
| Yunnan Chihong Zinc & Germanium 600497.SS | $5.76B | -15% | +29% | 10% | 13.8× | 4.4% |
| China Rare Earth Resources And Technology 000831.SZ | $7.57B | -7% | -2% | 15% | 103.1× | 53.1% |
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 | 002428.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.5% | -13.5% | 10th lowest of 21 |
| 6-month return | +3.5% | -19.8% | 3rd highest of 21 |
| Distance from 52-week high | -45.5% | -44.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +53.7% | +34.6% | 10th highest of 21 |
| Operating margin | 13.5% | 26.0% | 8th lowest of 21 |
| Forward P/E | 230.8× | 13.6× | 2nd most expensive of 20 |
| ROIC minus cost of capital | -2.6 pp | +5.7 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yunnan Lincang Xinyuan Germanium Industry 002428.SZ | China | $7.09B | +3% | +54% | 13% | 230.8× | n/a | n/a |
| Wanguo Gold 3939.HK | Hong Kong | $7.31B | +6% | +79% | 67% | 20.2× | 1.7% | +17.0% |
| Aurubis NDA.DE | Germany | $6.73B | -35% | +23% | 6% | 15.1× | n/a | n/a |
| China Rare Earth Resources And Technology 000831.SZ | China | $7.57B | -7% | -2% | 15% | 103.1× | 53.1% | +14.0% |
| NMDC NMDC.NS | India | $6.55B | -22% | +27% | 27% | 7.4× | 5.2% | +15.8% |
| Aura Minerals AUGO | United States | $6.52B | -5% | +89% | 53% | 10.6× | -6.0% | +25.2% |
| Discovery Mining DSV.TO | Canada | $6.44B | +19% | +684% | 38% | 17.6× | 19.9% | n/a |
| PLS PLS.AX | Australia | $6.33B | -56% | +152% | 43% | 10.6× | 2.5% | +61.6% |
| MP Materials MP | United States | $6.31B | -47% | +72% | -17% | 248.7× | n/a | n/a |
| Jinduicheng Molybdenum 601958.SS | China | $8.06B | -15% | +7% | 32% | 13.6× | 4.2% | +13.7% |
| Inner Mongolia Xingye Silver and Tin Mining 000426.SZ | China | $6.23B | -42% | +38% | 49% | 13.1× | 7.8% | +42.6% |
| Sandfire Resources SFR.AX | Australia | $6.20B | -4% | +32% | 32% | 13.3× | 9.2% | +25.8% |
| Capstone Copper CS.TO | Canada | $6.01B | -8% | +30% | 32% | 9.4× | 9.8% | +40.2% |
| Ivanhoe Mines IVN.TO | Canada | $8.43B | -26% | +109% | 7% | 18.9× | n/a | n/a |
| Nanya New Material Technology 688519.SS | China | $5.90B | -5% | +104% | 17% | 55.2× | n/a | n/a |
| Xiamen Tungsten 600549.SS | China | $8.55B | -37% | +67% | 10% | 13.2× | n/a | n/a |
| Lynas Rare Earths LYC.AX | Australia | $8.58B | -38% | +76% | 25% | 26.7× | 34.3% | +14.9% |
| Yunnan Chihong Zinc & Germanium 600497.SS | China | $5.76B | -15% | +29% | 10% | 13.8× | 4.4% | +4.6% |
| China Nonferrous Mining 1258.HK | Hong Kong | $5.73B | -19% | +11% | 28% | 7.4× | -14.6% | +5.8% |
| Xinjiang Daqo New Energy 688303.SS | China | $5.69B | -20% | -23% | -62% | n/a | n/a | n/a |
| Yunnan Tin 000960.SZ | China | $5.66B | -34% | +19% | 8% | 10.8× | 1.9% | -0.5% |