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Electrolytic aluminium and alumina producer with plants in Inner Mongolia and Shandong, listed in Hong Kong in 2025.
Electrolytic aluminium and alumina producer with plants in Inner Mongolia and Shandong, listed in Hong Kong in 2025.
Sells aluminium ingots and liquid aluminium cast from its own smelters, plus alumina, with coal-fired power and alumina refining integrated to hold down input costs. Profit follows the aluminium price against coal, power and alumina costs, while smelter volumes carry the base.
Moat: narrow (scale, cost position). Integrated power, alumina and smelting chain at its Inner Mongolia and Shandong bases lowers energy and input costs.
Headquarters: China/Hong Kong · Employees: 4,050
Size Chuangxin Industries (2788.HK) is a Hong Kong Materials company (Other Metals/Minerals) with a market value of $3.82B, the 301st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$14.43 on 6 Nov 2026.
Performance Over six months the shares fell 42.9%, against -34.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 23.2% over the last twelve months (peer median +28.3%); the operating margin is 22.8% (peer median 12.5%).
Valuation It trades at 5.3× forward earnings against a peer median of 26.0× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.2 points above its cost of capital (8.4% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | HK$20.3B | HK$16.4B | HK$15.3B | HK$15.7B |
| Revenue growth | — | +23% | +8% | -3% | — |
| Gross profit | n/a | HK$5.01B | HK$4.63B | HK$2.59B | HK$2.37B |
| EBITDA | n/a | HK$5.70B | HK$4.36B | HK$2.39B | HK$2.15B |
| Net income | n/a | HK$2.96B | HK$2.23B | HK$1.11B | HK$1.02B |
| Free cash flow | n/a | HK$1.69B | -HK$316M | HK$3.70B | -HK$184M |
| Capital expenditure | n/a | HK$3.92B | HK$3.37B | HK$603M | HK$1.59B |
| Total debt | n/a | HK$16.3B | HK$12.3B | HK$14.3B | HK$18.2B |
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 |
|---|---|---|---|---|---|---|
| Chuangxin Industries 2788.HK | $3.82B | -43% | +23% | 23% | 5.3× | -0.8% |
| Chinahongqiao 1378.HK | $25.5B | -36% | +7% | 25% | 5.0× | -12.8% |
| Aluminum Corporation of China 601600.SS | $20.7B | -26% | +5% | 18% | 6.7× | -16.2% |
| Yunnan Aluminium 000807.SZ | $12.8B | -23% | +16% | 26% | 5.8× | -16.1% |
| Shandong Nanshan Aluminium 600219.SS | $7.53B | -19% | +4% | 13% | 10.7× | -5.7% |
| Tianshan Aluminum 002532.SZ | $8.36B | -28% | +17% | 31% | 6.4× | -13.0% |
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 | 2788.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.9% | -16.7% | 2nd highest of 21 |
| 6-month return | -42.9% | -34.9% | 6th lowest of 20 |
| Distance from 52-week high | -57.5% | -57.4% | 11th highest of 21 |
| Revenue growth (TTM) | +23.2% | +28.3% | 9th lowest of 20 |
| Operating margin | 22.8% | 12.5% | 6th highest of 20 |
| Forward P/E | 5.3× | 26.0× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -0.8% | 24.9% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +8.9% | +20.4% | lowest of 8 |
| Hurdle (Req g minus delivered) | -9.7 pp | +9.4 pp | 4th least demanding of 8 |
| ROIC minus cost of capital | +6.2 pp | -0.3 pp | 5th highest of 20 |
| EV / EBITDA | 7.7× | 5.3× | 2nd most expensive of 4 |
| Net debt / EBITDA | 2.5× | 0.6× | most indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chuangxin Industries 2788.HK | Hong Kong | $3.82B | -43% | +23% | 23% | 5.3× | -0.8% | +8.9% |
| Chengtun Mining 600711.SS | China | $3.84B | -39% | +28% | 12% | 7.4× | n/a | n/a |
| Sinomine Resource 002738.SZ | China | $4.06B | -59% | +18% | 31% | 11.1× | n/a | n/a |
| Shenghe Resources 600392.SS | China | $4.09B | -40% | +34% | 8% | 16.2× | n/a | n/a |
| GuoCheng Mining 000688.SZ | China | $3.57B | -60% | +193% | 50% | 11.2× | 3.3% | +39.6% |
| Lygend Resources And Technology 001246.SZ | China | $3.48B | n/a | +28% | 19% | 8.9× | -5.9% | +39.8% |
| Suzhou Kematek 301611.SZ | China | $3.48B | -36% | +18% | 15% | 128.5× | n/a | n/a |
| Dazhong Mining 001203.SZ | China | $4.20B | -64% | +3% | 26% | 30.5× | n/a | n/a |
| Western Superconducting Technologies 688122.SS | China | $4.21B | -33% | -5% | 8% | 43.2× | 29.3% | +19.9% |
| Shenzhen Zhongjin Lingnan Nonfemet 000060.SZ | China | $3.43B | -24% | +16% | 3% | 17.8× | n/a | n/a |
| Uranium Energy UEC | United States | $3.43B | -54% | -44% | -358% | n/a | n/a | n/a |
| Sichuan Hongda 600331.SS | China | $4.30B | -40% | 0% | -1% | 543.0× | n/a | n/a |
| Hindustan Copper HINDCOPPER.NS | India | $4.31B | -26% | +67% | 42% | 21.6× | 38.7% | +11.5% |
| NGEx Minerals NGEX.TO | Canada | $3.37B | -15% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Rongtai Electric Material 603119.SS | China | $4.36B | -3% | +46% | 20% | 81.0× | 42.2% | +30.2% |
| Zhejiang Wazam New Material 603186.SS | China | $3.33B | +79% | +60% | 14% | 58.0× | 24.9% | +13.9% |
| Hunan Silver 002716.SZ | China | $3.19B | -35% | +50% | 4% | n/a | n/a | n/a |
| Chongyi Zhangyuan Tungsten 002378.SZ | China | $3.18B | -48% | +105% | 12% | n/a | n/a | n/a |
| China Rare Earth Nonferrous Metals 600259.SS | China | $3.13B | -33% | -43% | 4% | 34.1× | n/a | n/a |
| Ningxia Orient Tantalum Industry 000962.SZ | China | $3.08B | -11% | +43% | 12% | 54.0× | n/a | n/a |
| Ero Copper ERO.TO | Canada | $3.03B | +10% | +106% | 40% | 5.9× | 0.4% | +20.4% |