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World's largest titanium-dioxide (TiO2) producer, also mining iron-titanium ore and expanding into lithium iron phosphate battery materials.
World's largest titanium-dioxide (TiO2) producer, also mining iron-titanium ore and expanding into lithium iron phosphate battery materials.
Sells titanium dioxide, the white pigment in paint, plastics and paper, at prices that follow the construction and coatings cycle. Its own ore mining and chemical processing supply the plants, which lowers costs. Lithium iron phosphate battery materials are a newer line still being built up.
In one line: China's Chemours/Tronox for titanium dioxide.
Moat: narrow (scale, cost advantage). Vertically integrated ore-to-pigment scale gives global cost leadership in titanium dioxide.
Headquarters: Jiaozuo, China · Founded: 1998 · Employees: 19,100
Size LB Group Co., Ltd. Class A (002601.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $5.58B, the 452nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.63 on 6 Nov 2026.
Performance Over six months the shares fell 7.6%, against -10.1% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +12.2%); the operating margin is 7.5% (peer median 14.2%).
Valuation It trades at 22.4× forward earnings against a peer median of 19.0× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (7.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥27.7B | CN¥25.9B | CN¥27.2B | CN¥26.4B | CN¥23.9B |
| Revenue growth | — | -5% | +3% | +11% | — |
| Gross profit | CN¥8.00B | CN¥5.18B | CN¥6.36B | CN¥6.58B | CN¥6.86B |
| EBITDA | n/a | CN¥5.49B | CN¥6.93B | CN¥6.71B | CN¥5.87B |
| Net income | CN¥951M | CN¥1.24B | CN¥2.17B | CN¥3.23B | CN¥3.42B |
| Free cash flow | CN¥1.94B | CN¥2.03B | CN¥2.17B | CN¥382M | -CN¥1.59B |
| Capital expenditure | CN¥2.48B | CN¥1.90B | CN¥1.58B | CN¥2.94B | CN¥4.68B |
| Total debt | CN¥27.7B | CN¥29.2B | CN¥31.2B | CN¥26.9B | CN¥26.7B |
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 |
|---|---|---|---|---|---|---|
| LB Group Co., Ltd. Class A 002601.SZ | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% |
| Chemours CC | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% |
| Tronox TROX | $401M | -72% | +4% | -3% | n/a | n/a |
| Kronos Worldwide KRO | $859M | +46% | +3% | -1% | 11.9× | 17.6% |
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 | 002601.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | -4.8% | 6th highest of 21 |
| 6-month return | -7.6% | -10.1% | 10th highest of 21 |
| Distance from 52-week high | -34.3% | -29.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +6.9% | +12.2% | 8th lowest of 21 |
| Operating margin | 7.5% | 14.2% | 3rd lowest of 21 |
| Forward P/E | 22.4× | 19.0× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.0% | 9.3% | 7th least demanding of 16 |
| Growth delivered (Del g) | +12.9% | +11.3% | 6th highest of 16 |
| Hurdle (Req g minus delivered) | -7.9 pp | -2.1 pp | 5th least demanding of 16 |
| ROIC minus cost of capital | -0.7 pp | +0.4 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Canmax Technologies 300390.SZ | China | $5.62B | -64% | +98% | 27% | 7.3× | n/a | n/a |
| Coromandel International COROMANDEL.NS | India | $5.69B | -7% | +24% | 8% | 27.3× | n/a | n/a |
| Zhejiang Longsheng 600352.SS | China | $5.70B | -11% | -1% | 19% | 13.7× | -5.2% | -3.1% |
| Nissan Chemical 4021.T | Japan | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% | +6.0% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Kingboard 0148.HK | Hong Kong | $5.78B | -17% | +19% | 15% | 5.0× | n/a | n/a |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Inner Mongolia Junzheng Energy & Chemical 601216.SS | China | $5.92B | -16% | +3% | 11% | 12.0× | -3.4% | +11.3% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Shenzhen Capchem Technology 300037.SZ | China | $6.16B | -21% | +72% | 13% | 19.0× | 19.3% | +26.6% |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Red Avenue New Materials 603650.SS | China | $4.70B | -12% | +24% | 9% | 40.7× | n/a | n/a |
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |