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Employees: 5,241
Size Lingyuan Iron & Steel (600231.SS) is a China Materials company (Other Metals/Minerals) with a market value of $642M, the 3261st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥1.49 on 6 Nov 2026.
Performance Over six months the shares fell 31.3%, against -18.4% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 2.7% over the last twelve months (peer median +7.7%); the operating margin is -13.6% (peer median 11.7%).
Valuation It trades at 1.61× book value against a peer median of 2.69× (7th cheapest of 20).
Price implies The share price implies a return on equity of about 13.8%; Lingyuan Iron & Steel delivers -59.6%, so the price asks more than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.5B | CN¥15.7B | CN¥18.0B | CN¥20.2B | CN¥21.4B |
| Revenue growth | — | -13% | -11% | -6% | — |
| Gross profit | -CN¥1.11B | -CN¥980M | -CN¥1.21B | -CN¥306M | -CN¥503M |
| EBITDA | n/a | -CN¥882M | -CN¥1.10B | -CN¥302M | -CN¥198M |
| Net income | -CN¥2.20B | -CN¥1.56B | -CN¥1.68B | -CN¥681M | -CN¥834M |
| Free cash flow | -CN¥1.13B | -CN¥622M | -CN¥1.88B | CN¥1.13B | -CN¥1.00B |
| Capital expenditure | CN¥223M | CN¥473M | CN¥906M | CN¥585M | CN¥219M |
| Total debt | CN¥8.79B | CN¥7.59B | CN¥6.21B | CN¥5.61B | CN¥5.59B |
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| Measure | 600231.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.8% | -15.3% | 6th highest of 20 |
| 6-month return | -31.3% | -18.4% | 7th lowest of 20 |
| Return on equity | -59.6% | -5.2% | 3rd lowest of 20 |
| Price / book | 1.61× | 2.69× | 7th cheapest of 20 |
| ROE the price implies | 13.8% | 29.5% | 7th least demanding of 20 |
| ROE delivered | -59.6% | -5.9% | 3rd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Lingyuan Iron & Steel 600231.SS | China | $642M | -31% | -3% | -60% | 1.61× | 13.8% | -59.6% |
| Fuda New Material 603045.SS | China | $645M | -31% | +63% | 33% | 3.21× | 38.8% | 33.5% |
| Indian Metals & Ferro Alloys IMFA.NS | India | $633M | -25% | +32% | 21% | 1.99× | 29.5% | 20.8% |
| Marimaca Copper MARI.TO | Canada | $652M | -18% | n/a | -16% | 2.46× | 14.1% | -16.4% |
| Sigma Lithium SGML | United States | $655M | -73% | -14% | -32% | 7.94× | 47.3% | -31.8% |
| Abenojar Tungsten ABT.L | United Kingdom | $619M | n/a | n/a | n/a | n/a | n/a | n/a |
| Gruvaktiebolaget Viscaria VISC.ST | Sweden | $669M | -1% | n/a | -5% | 1.31× | 8.3% | -5.2% |
| Enviri NVRI | United States | $672M | +24% | -23% | -81% | 1.05× | 6.5% | -81.2% |
| Arafura Rare Earths ARU.AX | Australia | $610M | -56% | n/a | -8% | 0.92× | 13.0% | -8.3% |
| Shivalik Bimetal Controls SBCL.NS | India | $609M | +61% | +19% | 22% | 11.94× | 158.4% | n/a |
| Lithium Argentina LAR | United States | $686M | -64% | n/a | -7% | 0.89× | 12.4% | -6.6% |
| Meridian Mining MNO.TO | Canada | $598M | -8% | n/a | -38% | 5.78× | 44.1% | -38.1% |
| Qinghai Jinrui Mineral Development 600714.SS | China | $593M | -38% | -6% | 3% | 5.01× | 48.9% | 3.1% |
| OSAKA Titanium Technologies 5726.T | Japan | $584M | -18% | -8% | 7% | 1.70× | 14.8% | 7.3% |
| Wenzhou Hongfeng Electrical Alloy 300283.SZ | China | $712M | -23% | +48% | 11% | 3.87× | 39.0% | 11.1% |
| Lithium Americas LAC.TO | Canada | $712M | -64% | n/a | -9% | 0.49× | 10.7% | -9.3% |
| Bannerman Energy BMN.AX | Australia | $578M | -15% | n/a | -4% | 2.69× | 28.8% | -3.6% |
| Gold Royalty GROY | United States | $723M | -14% | +82% | 0% | 0.99× | 10.6% | 0.2% |
| NorthIsle Copper and Gold NCX.V | Canada | $725M | +3% | n/a | -33% | 7.55× | 85.9% | -33.3% |
| Talamore Mining TALA.TO | Canada | $728M | -32% | n/a | -61% | 5.37× | 84.0% | -60.7% |
| Infund 002141.SZ | China | $738M | +32% | -3% | 9% | 5.48× | 37.3% | 8.8% |