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Nanjing producer of cobalt salts and powders that has expanded into nickel-based battery cathode precursor materials.
Nanjing producer of cobalt salts and powders that has expanded into nickel-based battery cathode precursor materials.
Buys cobalt raw materials, largely imported intermediates from Congo, and refines them into salts and powders priced off the cobalt market, so earnings swing with the cobalt price and the timing of its inventory. The cathode-precursor business sits a step closer to batteries and has widened it beyond the original cobalt chemicals.
In one line: China's answer to a cobalt-focused Umicore.
Moat: narrow (process know-how, distribution). Decades of cobalt-refining know-how plus international sales reach into Japan, Korea, Europe and the US.
Headquarters: Nanjing, China · Founded: 1997 · Employees: 2,691
Size Nanjing Hanrui Cobalt (300618.SZ) is a China Materials company (Other Metals/Minerals) with a market value of $1.27B, the 1877th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥24.48 on 6 Nov 2026.
Performance Over six months the shares fell 49.2%, against -24.0% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 11.2% over the last twelve months (peer median +26.1%); the operating margin is 3.6% (peer median 4.9%).
Valuation It trades at 1.42× book value against a peer median of 3.09× (6th cheapest of 19).
Price implies The share price implies a return on equity of about 19.6%; Nanjing Hanrui Cobalt delivers -0.6%, so the price asks more than the business earns today.
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.30B | CN¥6.69B | CN¥5.80B | CN¥4.79B | CN¥5.08B |
| Revenue growth | — | +15% | +21% | -6% | — |
| Gross profit | CN¥1.18B | CN¥831M | CN¥791M | CN¥739M | CN¥870M |
| EBITDA | n/a | CN¥645M | CN¥642M | CN¥461M | CN¥510M |
| Net income | -CN¥34.5M | CN¥255M | CN¥202M | CN¥138M | CN¥212M |
| Free cash flow | -CN¥1.41B | -CN¥1.72B | CN¥161M | -CN¥276M | CN¥1.31B |
| Capital expenditure | CN¥542M | CN¥1.25B | CN¥410M | CN¥450M | CN¥311M |
| Total debt | CN¥3.09B | CN¥2.56B | CN¥1.48B | CN¥1.17B | CN¥1.32B |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Nanjing Hanrui Cobalt 300618.SZ | $1.27B | -49% | +11% | -1% | 1.42× | 19.6% |
| Zhejiang Huayou Cobalt 603799.SS | $9.30B | -50% | +38% | 13% | 1.24× | 18.1% |
| CMOC 603993.SS | $41.0B | -29% | +32% | 35% | 3.00× | 32.6% |
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 | 300618.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.1% | -9.7% | 6th lowest of 21 |
| 6-month return | -49.2% | -24.0% | 4th lowest of 20 |
| Return on equity | -0.6% | 9.2% | 7th lowest of 19 |
| Price / book | 1.42× | 3.09× | 6th cheapest of 19 |
| ROE the price implies | 19.6% | 28.0% | 6th least demanding of 19 |
| ROE delivered | -0.6% | 9.0% | 7th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Nanjing Hanrui Cobalt 300618.SZ | China | $1.27B | -49% | +11% | -1% | 1.42× | 19.6% | -0.6% |
| Evolution Metals & Technologies EMAT | United States | $1.23B | -79% | n/a | n/a | n/a | n/a | n/a |
| North Long Dragon New Materials Tech 301357.SZ | China | $1.23B | -20% | -9% | -2% | 7.42× | 91.3% | -2.3% |
| Ivanhoe Electric IE | United States | $1.21B | -45% | -21% | -8% | 2.30× | 22.7% | -8.4% |
| Faraday Copper FDY.TO | Canada | $1.21B | -18% | n/a | -46% | 8.07× | 95.4% | -46.4% |
| Solaris Resources SLS.TO | Canada | $1.19B | -28% | n/a | n/a | n/a | n/a | n/a |
| Eramet ERA.PA | France | $1.19B | -38% | 0% | -70% | 2.40× | 16.0% | -70.0% |
| Gravita India GRAVITA.NS | India | $1.17B | -17% | +24% | 16% | 4.11× | 67.0% | 16.2% |
| Collective Mining CNL.TO | Canada | $1.17B | -22% | n/a | -60% | 10.64× | 54.5% | -60.1% |
| Jiangxi Jiangnan New Material Technology 603124.SS | China | $1.16B | -37% | +19% | 16% | 5.68× | 101.0% | 16.4% |
| Uranium Royalty UROY | United States | $1.16B | -24% | +1,570% | 15% | 1.20× | 14.2% | n/a |
| Innuovo Technology 000795.SZ | China | $1.42B | -8% | +21% | 9% | 3.43× | 29.7% | 9.5% |
| Liontown LTR.AX | Australia | $1.43B | -75% | +115% | 9% | 1.39× | 20.5% | 9.0% |
| Alphamin Resources AFM.V | Canada | $1.12B | -15% | +45% | 56% | 2.81× | 17.8% | 55.8% |
| Londian Wason New Energy Tech, Inc. Unsponsored ADR FOIL | United States | $1.11B | n/a | +25% | 0% | 1.38× | 26.3% | n/a |
| Xizang Zhihui Mining 2546.HK | Hong Kong | $1.08B | +8% | +104% | 11% | 4.37× | 37.8% | n/a |
| Tibet Mineral Development 000762.SZ | China | $1.50B | -50% | +270% | 2% | 3.37× | 44.1% | 2.2% |
| Nexa Resources NEXA | United States | $1.51B | -20% | +27% | 14% | 1.32× | 11.5% | 13.7% |
| Zimplats ZIM.AX | Australia | $1.06B | -15% | +50% | 14% | 0.50× | 6.3% | 14.0% |
| Baowu Magnesium Technology 002182.SZ | China | $1.54B | -34% | +4% | -4% | 1.98× | 26.2% | -3.5% |
| Jain Resource Recycling JAINREC.NS | India | $1.05B | -43% | +48% | 23% | 5.74× | 39.5% | 23.0% |