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China's largest titanium producer, making titanium sponge, ingots and mill products for aerospace and chemical plants.
China's largest titanium producer, making titanium sponge, ingots and mill products for aerospace and chemical plants.
Sells titanium as semi-finished mill products and as the sponge and ingot feedstock behind them, with mill products carrying sales, priced as a processing charge over the raw-material cost. Aerospace grades are approved buyer by buyer, so those orders repeat once won but take a long time to land.
In one line: China's answer to Titanium Metals Corp (TIMET).
Moat: narrow (scale, customer qualification). Largest domestic titanium capacity and long-standing aerospace-grade qualifications.
Headquarters: Baoji, Shaanxi, China · Founded: 1965 · Employees: 5,188
Size Baoji Titanium Industry (600456.SS) is a China Materials company (Other Metals/Minerals) with a market value of $1.76B, the 1414th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥24.58 on 6 Nov 2026.
Performance Over six months the shares fell 26.4%, against -26.0% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +20.0%); the operating margin is 7.2% (peer median 9.9%).
Valuation It trades at 26.4× forward earnings against a peer median of 21.4× (8th most expensive of 17).
Capital Return on invested capital runs 2.4 points below its cost of capital (6.9% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.33B | CN¥6.10B | CN¥6.61B | CN¥6.88B | CN¥6.59B |
| Revenue growth | — | -8% | -4% | +4% | — |
| Gross profit | CN¥1.32B | CN¥1.16B | CN¥1.35B | CN¥1.38B | CN¥1.36B |
| EBITDA | n/a | CN¥965M | CN¥1.13B | CN¥1.06B | CN¥1.09B |
| Net income | CN¥316M | CN¥401M | CN¥576M | CN¥544M | CN¥557M |
| Free cash flow | -CN¥408M | -CN¥123M | CN¥167M | -CN¥12.3M | -CN¥789M |
| Capital expenditure | CN¥304M | CN¥364M | CN¥245M | CN¥163M | CN¥354M |
| Total debt | CN¥6.79B | CN¥4.78B | CN¥3.27B | CN¥2.68B | CN¥3.81B |
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 |
|---|---|---|---|---|---|---|
| Baoji Titanium Industry 600456.SS | $1.76B | -26% | +14% | 7% | 26.4× | n/a |
| Western Superconducting Technologies 688122.SS | $4.21B | -33% | -5% | 8% | 43.2× | 29.3% |
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 | 600456.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.3% | -8.8% | 4th highest of 21 |
| 6-month return | -26.4% | -26.0% | 11th highest of 21 |
| Distance from 52-week high | -45.9% | -48.2% | 9th highest of 21 |
| Revenue growth (TTM) | +13.8% | +20.0% | 8th lowest of 20 |
| Operating margin | 7.2% | 9.9% | 10th lowest of 20 |
| Forward P/E | 26.4× | 21.4× | 8th most expensive of 17 |
| ROIC minus cost of capital | -2.4 pp | -4.4 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Baoji Titanium Industry 600456.SS | China | $1.76B | -26% | +14% | 7% | 26.4× | n/a | n/a |
| Iluka Resources ILU.AX | Australia | $1.77B | -30% | -20% | -29% | n/a | n/a | n/a |
| Nickel Industries NIC.AX | Australia | $1.78B | -46% | -3% | 10% | 10.4× | 13.1% | +27.5% |
| Energy Fuels EFR.TO | Canada | $1.78B | -70% | +70% | -79% | 61.7× | n/a | n/a |
| Yellow Cake YCA.L | United Kingdom | $1.74B | -12% | n/a | n/a | 10.6× | n/a | n/a |
| RHI Magnesita RHIM.L | United Kingdom | $1.74B | +2% | -1% | 11% | 6.9× | 3.0% | +7.5% |
| Yantai Zhenghai Magnetic Material 300224.SZ | China | $1.79B | -1% | +16% | 5% | 29.9× | 20.1% | +29.2% |
| Atalaya Mining Copper ATYM.L | United Kingdom | $1.71B | -2% | +20% | 29% | 7.8× | 6.5% | +13.0% |
| Jiangsu ToLand Alloy 300855.SZ | China | $1.83B | -21% | +75% | 28% | 26.5× | n/a | n/a |
| Beijing Zhong Ke San Huan High-Tech 000970.SZ | China | $1.87B | -16% | +11% | 3% | 65.8× | n/a | n/a |
| Tibet Summit Resources 600338.SS | China | $1.56B | -59% | +54% | 30% | n/a | 12.8% | +16.5% |
| Denison Mines DML.TO | Canada | $2.00B | -39% | -9% | -2,101% | n/a | n/a | n/a |
| China Kings Resources 603505.SS | China | $1.55B | -33% | -11% | -1% | 46.2× | n/a | n/a |
| Baowu Magnesium Technology 002182.SZ | China | $1.54B | -34% | +4% | 0% | 74.0× | n/a | n/a |
| CGN Mining 1164.HK | Hong Kong | $2.03B | -47% | +15% | 2% | 20.8× | 33.0% | +19.1% |
| Lianyou Metals 7610.TW | Taiwan | $2.03B | +89% | +238% | 56% | 11.4× | n/a | n/a |
| Henan Liliang Diamond 301071.SZ | China | $2.03B | -2% | +73% | 21% | 45.0× | 28.0% | +20.9% |
| Nexa Resources NEXA | United States | $1.51B | -20% | +27% | 22% | 3.0× | -17.4% | +8.9% |
| Tibet Mineral Development 000762.SZ | China | $1.50B | -50% | +270% | 20% | n/a | 33.1% | -1.3% |
| Anhui Jingcheng Copper Share 002171.SZ | China | $2.07B | -22% | +35% | 1% | 22.0× | n/a | n/a |
| Jiaxin International Resources Investment 3858.HK | Hong Kong | $2.08B | -56% | +2,782% | 65% | 6.1× | -6.4% | n/a |