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Tibet/Central Asia-based miner producing lead, zinc and copper concentrate, with a paused lithium salt-lake project in Argentina.
Tibet/Central Asia-based miner producing lead, zinc and copper concentrate, with a paused lithium salt-lake project in Argentina.
Sells lead, zinc and copper concentrates to smelters, which pay for the metal contained less processing charges, so it takes whatever the metal market pays. Its Zarafshon mine in Tajikistan is the main producing asset, while a separate lithium project in Argentina, bought as a diversification, has been paused.
In one line: A small international base-metals miner, no direct US peer.
Moat: none (scale). Owns the Zarafshon lead-zinc mine in Tajikistan but is a price-taking commodity miner.
Headquarters: Lhasa, Tibet, China · Employees: 3,086
Size Tibet Summit Resources (600338.SS) is a China Materials company (Other Metals/Minerals) with a market value of $1.56B, the 1580th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.36 on 6 Nov 2026.
Performance Over six months the shares fell 58.8%, against -28.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 54.4% over the last twelve months (peer median +12.5%); the operating margin is 30.4% (peer median 4.6%).
Valuation It trades at 3.2× enterprise value to sales against a peer median of 2.5× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.1 points above its cost of capital (14.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.21B | CN¥2.43B | CN¥1.64B | CN¥1.47B | CN¥1.97B |
| Revenue growth | — | +48% | +12% | -26% | — |
| Gross profit | CN¥2.33B | CN¥1.29B | CN¥754M | CN¥495M | CN¥938M |
| EBITDA | n/a | CN¥855M | CN¥713M | CN¥469M | CN¥1.06B |
| Net income | CN¥645M | CN¥512M | CN¥230M | -CN¥214M | CN¥412M |
| Free cash flow | CN¥158M | CN¥59.0M | CN¥301M | CN¥14.0M | -CN¥344M |
| Capital expenditure | CN¥683M | CN¥542M | CN¥438M | CN¥375M | CN¥1.12B |
| Total debt | CN¥182M | CN¥413M | CN¥705M | CN¥320M | CN¥306M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Tibet Summit Resources 600338.SS | $1.56B | -59% | +54% | 30% | 3.2× | 12.8% |
| Western Mining 601168.SS | $9.85B | -7% | +18% | 17% | 1.3× | -5.6% |
| Zijin Mining 601899.SS | $109B | -15% | +16% | 30% | 2.3× | -10.2% |
| Tibet Mineral Development 000762.SZ | $1.50B | -50% | +270% | 20% | 12.6× | 33.1% |
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 | 600338.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -7.4% | 10th highest of 21 |
| 6-month return | -58.8% | -28.2% | 4th lowest of 21 |
| Distance from 52-week high | -59.8% | -46.7% | 4th lowest of 21 |
| Revenue growth (TTM) | +54.4% | +12.5% | 5th highest of 19 |
| Operating margin | 30.4% | 4.6% | highest of 20 |
| EV / Sales | 3.2× | 2.5× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 12.8% | 13.1% | 4th least demanding of 8 |
| Growth delivered (Del g) | +16.5% | +13.0% | 4th highest of 8 |
| Hurdle (Req g minus delivered) | -3.7 pp | -9.1 pp | 2nd most demanding of 8 |
| ROIC minus cost of capital | +4.1 pp | -6.4 pp | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tibet Summit Resources 600338.SS | China | $1.56B | -59% | +54% | 30% | 3.2× | 12.8% | +16.5% |
| China Kings Resources 603505.SS | China | $1.55B | -33% | -11% | -1% | 4.5× | n/a | n/a |
| Baowu Magnesium Technology 002182.SZ | China | $1.54B | -34% | +4% | 0% | 1.8× | n/a | n/a |
| Nexa Resources NEXA | United States | $1.51B | -20% | +27% | 22% | 0.9× | -17.4% | +8.9% |
| Tibet Mineral Development 000762.SZ | China | $1.50B | -50% | +270% | 20% | 12.6× | 33.1% | -1.3% |
| Liontown LTR.AX | Australia | $1.43B | -75% | +115% | 8% | 3.1× | 38.7% | +303.2% |
| Innuovo Technology 000795.SZ | China | $1.42B | -8% | +21% | 5% | 2.1× | n/a | n/a |
| Atalaya Mining Copper ATYM.L | United Kingdom | $1.71B | -2% | +20% | 29% | 2.4× | 6.5% | +13.0% |
| RHI Magnesita RHIM.L | United Kingdom | $1.74B | +2% | -1% | 11% | 0.9× | 3.0% | +7.5% |
| Yellow Cake YCA.L | United Kingdom | $1.74B | -12% | n/a | n/a | n/a | n/a | n/a |
| Baoji Titanium Industry 600456.SS | China | $1.76B | -26% | +14% | 7% | 2.5× | n/a | n/a |
| Iluka Resources ILU.AX | Australia | $1.77B | -30% | -20% | -29% | 4.2× | n/a | n/a |
| Nickel Industries NIC.AX | Australia | $1.78B | -46% | -3% | 10% | 1.8× | 13.1% | +27.5% |
| Energy Fuels EFR.TO | Canada | $1.78B | -70% | +70% | -79% | 14.2× | n/a | n/a |
| Yantai Zhenghai Magnetic Material 300224.SZ | China | $1.79B | -1% | +16% | 5% | 1.7× | 20.1% | +29.2% |
| Jiangsu ToLand Alloy 300855.SZ | China | $1.83B | -21% | +75% | 28% | 7.1× | n/a | n/a |
| Beijing Zhong Ke San Huan High-Tech 000970.SZ | China | $1.87B | -16% | +11% | 3% | 1.7× | n/a | n/a |
| Nanjing Hanrui Cobalt 300618.SZ | China | $1.27B | -49% | +11% | 4% | 1.6× | n/a | n/a |
| Evolution Metals & Technologies EMAT | United States | $1.23B | -79% | n/a | -548% | 356.1× | n/a | n/a |
| North Long Dragon New Materials Tech 301357.SZ | China | $1.23B | -20% | -9% | -23% | 49.9× | n/a | n/a |
| Denison Mines DML.TO | Canada | $2.00B | -39% | -9% | -2,101% | 717.0× | n/a | n/a |