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One of China's largest producers of aluminum sheet, strip and foil for packaging, cans and construction.
One of China's largest producers of aluminum sheet, strip and foil for packaging, cans and construction.
Buys primary aluminum, rolls it into sheet, strip and foil and charges a processing premium over the metal price, so earnings depend on that premium and on volume rather than on the aluminum price itself. Beverage-can stock and packaging foil are the main outlets for its rolling capacity.
Moat: narrow (scale). Large-scale rolling capacity gives cost advantages versus smaller regional processors.
Headquarters: Zhengzhou, Henan, China · Employees: 6,242
Size Henan Mingtai Aluminum Industrial (601677.SS) is a China Materials company (Aluminum) with a market value of $2.70B, the 957th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.70 on 6 Nov 2026.
Performance Over six months the shares fell 17.2%, against -29.3% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 19.1% over the last twelve months (peer median +13.0%); the operating margin is 6.2% (peer median 8.4%).
Valuation It trades at 7.2× forward earnings against a peer median of 10.7× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (7.8% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥41.1B | CN¥35.1B | CN¥32.2B | CN¥26.3B | CN¥27.7B |
| Revenue growth | — | +9% | +22% | -5% | — |
| Gross profit | CN¥4.05B | CN¥2.34B | CN¥2.09B | CN¥2.34B | CN¥2.57B |
| EBITDA | n/a | CN¥2.59B | CN¥1.97B | CN¥1.57B | CN¥1.80B |
| Net income | CN¥2.47B | CN¥1.96B | CN¥1.75B | CN¥1.35B | CN¥1.60B |
| Free cash flow | CN¥183M | CN¥735M | CN¥323M | CN¥487M | -CN¥985M |
| Capital expenditure | CN¥920M | CN¥748M | CN¥450M | CN¥214M | CN¥181M |
| Total debt | CN¥5.92B | CN¥5.86B | CN¥3.86B | CN¥3.56B | CN¥4.34B |
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 |
|---|---|---|---|---|---|---|
| Henan Mingtai Aluminum Industrial 601677.SS | $2.70B | -17% | +19% | 6% | 7.2× | -2.7% |
| Henan Zhongfu Industrial 600595.SS | $3.36B | -28% | +24% | 16% | 5.7× | -10.2% |
| Jiangsu Dingsheng New Material Joint-Stock 603876.SS | $2.00B | -52% | +10% | 4% | 12.4× | 8.1% |
| Shandong Nanshan Aluminium 600219.SS | $7.53B | -19% | +4% | 13% | 10.7× | -5.7% |
| Constellium CSTM | $2.93B | -36% | +26% | 9% | 8.3× | -6.8% |
| Kaiser Aluminum KALU | $1.75B | -41% | +40% | 8% | 10.9× | 0.8% |
| Hindalco Industries HINDALCO.NS | $22.7B | -9% | +20% | 11% | 8.6× | n/a |
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 | 601677.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.5% | -8.3% | 11th highest of 21 |
| 6-month return | -17.2% | -29.3% | 5th highest of 21 |
| Distance from 52-week high | -26.5% | -47.5% | 4th highest of 21 |
| Revenue growth (TTM) | +19.1% | +13.0% | 10th highest of 21 |
| Operating margin | 6.2% | 8.4% | 7th lowest of 21 |
| Forward P/E | 7.2× | 10.7× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -2.7% | 0.8% | 6th least demanding of 12 |
| Growth delivered (Del g) | +16.6% | +14.7% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -19.3 pp | -15.4 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +1.6 pp | +1.6 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Henan Mingtai Aluminum Industrial 601677.SS | China | $2.70B | -17% | +19% | 6% | 7.2× | -2.7% | +16.6% |
| Constellium CSTM | United States | $2.93B | -36% | +26% | 9% | 8.3× | -6.8% | +8.7% |
| Grupa Kety KTY.WA | Poland | $3.15B | +11% | +8% | 15% | 16.9× | 6.6% | +9.2% |
| Century Aluminum CENX | United States | $3.31B | -43% | +10% | 15% | 3.2× | 9.9% | +9.5% |
| Henan Zhongfu Industrial 600595.SS | China | $3.36B | -28% | +24% | 16% | 5.7× | -10.2% | +23.3% |
| Xinjiang Joinworld 600888.SS | China | $2.07B | +3% | +21% | 7% | 11.7× | n/a | n/a |
| UACJ 5741.T | Japan | $2.06B | -36% | +28% | 9% | 6.2× | -5.3% | +15.7% |
| Jiangsu Dingsheng New Material Joint-Stock 603876.SS | China | $2.00B | -52% | +10% | 4% | 12.4× | 8.1% | +16.2% |
| Shanghai Huafon Aluminium Corporation 601702.SS | China | $1.98B | -29% | +10% | 10% | 9.2× | n/a | n/a |
| Innovation New Material Technology 600361.SS | China | $1.91B | -24% | +4% | 1% | 10.7× | n/a | n/a |
| Granges GRNG.ST | Sweden | $1.83B | -6% | +27% | 6% | 12.1× | n/a | n/a |
| Kaiser Aluminum KALU | United States | $1.75B | -41% | +40% | 8% | 10.9× | 0.8% | +23.5% |
| Jiaozuo Wanfang Aluminum Manufacturing 000612.SZ | China | $1.71B | -28% | +13% | 32% | n/a | -13.0% | +6.6% |
| United Company RUSAL international PJSC 0486.HK | Hong Kong | $4.26B | -34% | -4% | 6% | n/a | n/a | n/a |
| Nantong Haixing Electronics 603115.SS | China | $1.62B | -22% | +21% | 8% | 33.5× | n/a | n/a |
| Giansun Precision Technology 001400.SZ | China | $1.41B | -35% | 0% | 10% | n/a | n/a | n/a |
| Grinm Metal Composites (Beijing) Technology 688811.SS | China | $1.27B | -30% | 0% | 11% | n/a | n/a | n/a |
| Elkem ELK.OL | Norway | $1.18B | +7% | -12% | 3% | n/a | 17.0% | -7.2% |
| National Aluminium NATIONALUM.NS | India | $6.33B | -19% | +14% | 43% | 8.3× | -4.2% | +14.7% |
| Yinbang Clad Material 300337.SZ | China | $1.06B | -38% | +45% | 3% | n/a | n/a | n/a |
| Yong Jie New Material 603271.SS | China | $1.03B | -33% | +57% | 4% | n/a | 9.1% | +20.3% |