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Chinese materials company with legacy chemical/phosphate operations, moving into new-energy metal materials.
Chinese materials company with legacy chemical/phosphate operations, moving into new-energy metal materials.
Moat: none. Legacy commodity chemical business with an emerging new-energy pivot.
Headquarters: Sichuan, China · Employees: 2,437
Size Sichuan Hongda (600331.SS) is a China Materials company (Other Metals/Minerals) with a market value of $4.30B, the 594th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.86 on 6 Nov 2026.
Performance Over six months the shares fell 40.1%, against -33.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +22.8%); the operating margin is -1.0% (peer median 15.4%).
Valuation It trades at 9.07× book value against a peer median of 3.63× (6th most expensive of 21).
Price implies The share price implies a return on equity of about 80.6%; Sichuan Hongda delivers -0.4%, so the price asks more than the business earns today.
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.82B | CN¥3.79B | CN¥3.41B | CN¥3.02B | CN¥2.94B |
| Revenue growth | — | +11% | +13% | +3% | — |
| Gross profit | CN¥239M | CN¥132M | CN¥262M | CN¥169M | CN¥271M |
| EBITDA | n/a | CN¥33.7M | CN¥178M | CN¥69.2M | CN¥198M |
| Net income | -CN¥13.7M | -CN¥74.3M | CN¥36.1M | -CN¥95.8M | CN¥60.2M |
| Free cash flow | -CN¥810M | -CN¥829M | CN¥194M | -CN¥46.8M | CN¥253M |
| Capital expenditure | CN¥223M | CN¥82.4M | CN¥57.4M | CN¥11.5M | CN¥86.2M |
| Total debt | CN¥44.6M | CN¥0 | CN¥681M | CN¥715M | CN¥731M |
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| Measure | 600331.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | -14.3% | 4th highest of 21 |
| 6-month return | -40.1% | -33.2% | 7th lowest of 20 |
| Return on equity | -0.4% | 14.1% | 3rd lowest of 21 |
| Price / book | 9.07× | 3.63× | 6th most expensive of 21 |
| ROE the price implies | 80.6% | 32.2% | 8th most demanding of 21 |
| ROE delivered | -0.4% | 10.7% | 3rd lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sichuan Hongda 600331.SS | China | $4.30B | -40% | 0% | 0% | 9.07× | 80.6% | -0.4% |
| Hindustan Copper HINDCOPPER.NS | India | $4.31B | -26% | +67% | 33% | 13.01× | 233.2% | n/a |
| Zhejiang Rongtai Electric Material 603119.SS | China | $4.36B | -3% | +46% | 15% | 13.25× | 127.4% | 15.4% |
| Western Superconducting Technologies 688122.SS | China | $4.21B | -33% | -5% | 6% | 4.00× | 31.1% | 6.5% |
| Dazhong Mining 001203.SZ | China | $4.20B | -64% | +3% | 10% | 3.92× | 35.3% | 9.6% |
| Shenghe Resources 600392.SS | China | $4.09B | -40% | +34% | 9% | 2.13× | 33.3% | 9.0% |
| Sinomine Resource 002738.SZ | China | $4.06B | -59% | +18% | 15% | 2.02× | 27.8% | 14.8% |
| Chengtun Mining 600711.SS | China | $3.84B | -39% | +28% | 15% | 1.40× | 15.4% | 14.5% |
| Grinm Advanced Materials 600206.SS | China | $4.85B | +40% | +23% | 6% | 7.24× | 99.3% | 6.5% |
| Chuangxin Industries 2788.HK | Hong Kong | $3.82B | -43% | +23% | 49% | 2.45× | 21.9% | n/a |
| Luoyang Shenglong Mining 001257.SZ | China | $5.00B | -19% | +22% | 17% | 4.19× | 24.4% | n/a |
| Yunnan Copper 000878.SZ | China | $5.01B | -28% | +10% | 14% | 1.74× | 17.2% | 13.6% |
| Asia-Potash International Investment (Guangzhou) 000893.SZ | China | $5.08B | -32% | +40% | 15% | 2.22× | 11.6% | 15.2% |
| GuoCheng Mining 000688.SZ | China | $3.57B | -60% | +193% | 51% | 9.44× | 103.3% | 51.0% |
| Lygend Resources And Technology 001246.SZ | China | $3.48B | n/a | +28% | 32% | 3.34× | 47.0% | 32.5% |
| Suzhou Kematek 301611.SZ | China | $3.48B | -36% | +18% | 11% | 14.95× | 221.3% | 10.7% |
| Shenzhen Zhongjin Lingnan Nonfemet 000060.SZ | China | $3.43B | -24% | +16% | 7% | 1.12× | 11.4% | 7.3% |
| Uranium Energy UEC | United States | $3.43B | -54% | -44% | -12% | 2.49× | 24.6% | -11.6% |
| Baiyin Nonferrous 601212.SS | China | $5.49B | -35% | 0% | 1% | 2.24× | 25.0% | 1.1% |
| NGEx Minerals NGEX.TO | Canada | $3.37B | -15% | n/a | -45% | 10.88× | 116.6% | -45.3% |
| Zhejiang Wazam New Material 603186.SS | China | $3.33B | +79% | +60% | 44% | 7.18× | 96.0% | 44.0% |