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Hainan-based iron ore mining company operating the Shilu mine, one of China's larger iron ore deposits.
Hainan-based iron ore mining company operating the Shilu mine, one of China's larger iron ore deposits.
Sells iron ore concentrate to steel mills at prices that follow the market rather than any it sets, so income moves with the ore price. The Shilu mine in Hainan is its main asset. The Fosun group is the largest shareholder.
In one line: A small Chinese iron ore miner.
Moat: none. Commodity iron ore mining, price taker versus global seaborne ore benchmarks.
Headquarters: Haikou, China · Employees: 2,624
Size Hainan Mining (601969.SS) is a China Materials company (Steel) with a market value of $2.44B, the 1053rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.19 on 6 Nov 2026.
Performance Over six months the shares fell 33.0%, against -24.4% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 28.8% over the last twelve months (peer median -2.0%); the operating margin is 16.8% (peer median 2.6%).
Valuation It trades at 13.9× forward earnings against a peer median of 16.9× (9th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.0 points above its cost of capital (8.1% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.48B | CN¥4.40B | CN¥4.05B | CN¥4.66B | CN¥4.81B |
| Revenue growth | — | +9% | -13% | -3% | — |
| Gross profit | CN¥2.67B | CN¥1.11B | CN¥1.39B | CN¥1.45B | CN¥1.35B |
| EBITDA | n/a | CN¥1.92B | CN¥1.75B | CN¥1.74B | CN¥1.76B |
| Net income | CN¥768M | CN¥431M | CN¥706M | CN¥625M | CN¥615M |
| Free cash flow | CN¥576M | CN¥346M | -CN¥174M | CN¥398M | CN¥607M |
| Capital expenditure | CN¥1.07B | CN¥1.31B | CN¥1.61B | CN¥1.18B | CN¥680M |
| Total debt | CN¥4.69B | CN¥4.52B | CN¥3.01B | CN¥2.39B | CN¥2.43B |
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 |
|---|---|---|---|---|---|---|
| Hainan Mining 601969.SS | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% |
| Vale S.A. Sponsored ADR VALE | $45.4B | -30% | +11% | 25% | 7.7× | -14.0% |
| Rio Tinto RIO.L | $144B | -21% | +11% | 27% | 10.3× | 5.6% |
| Fujian Makeng Mining 601123.SS | $2.76B | n/a | -3% | 41% | n/a | 29.1% |
| BHP BHP.AX | $203B | -6% | +9% | 39% | 15.7× | -1.0% |
| Fortescue FMG.AX | $32.4B | -33% | +4% | 32% | 12.3× | -5.7% |
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 | 601969.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.8% | -7.2% | 7th lowest of 21 |
| 6-month return | -33.0% | -24.4% | 6th lowest of 20 |
| Distance from 52-week high | -42.9% | -40.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +28.8% | -2.0% | 4th highest of 21 |
| Operating margin | 16.8% | 2.6% | 2nd highest of 20 |
| Forward P/E | 13.9× | 16.9× | 9th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 0.8% | 12.9% | 6th least demanding of 18 |
| Growth delivered (Del g) | +9.9% | +6.1% | 3rd highest of 18 |
| Hurdle (Req g minus delivered) | -9.1 pp | +2.0 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | +7.0 pp | -3.8 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% | +9.9% |
| Angang Steel 0347.HK | Hong Kong | $2.48B | -32% | -1% | -7% | n/a | n/a | n/a |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 7% | 21.5× | 12.9% | +0.4% |
| Maanshan Iron & Steel 600808.SS | China | $2.32B | -41% | -4% | 0% | 38.0× | 0.3% | -1.0% |
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% | +7.0% |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 5% | 40.2× | 16.2% | +9.8% |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 4% | 10.5× | 14.6% | +6.2% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% | +10.9% |
| Hyundai Steel 004020.KS | South Korea | $2.73B | -34% | +2% | 1% | 74.3× | -1.2% | +4.8% |
| Hangzhou Iron & Steel 600126.SS | China | $2.73B | -38% | -58% | -1% | n/a | 19.3% | +9.8% |
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | China | $2.75B | -37% | -38% | 4% | 25.9× | 15.4% | +19.5% |
| Fujian Makeng Mining 601123.SS | China | $2.76B | n/a | -3% | 41% | n/a | 29.1% | -1.0% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | -6% | n/a | n/a | n/a |
| Shanxi Taigang Stainless Steel 000825.SZ | China | $2.78B | -24% | +1% | -1% | 65.0× | 7.4% | +6.1% |
| Yongxing Special Materials Technology 002756.SZ | China | $2.88B | -59% | +30% | 16% | 11.2× | -2.3% | +8.4% |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 20.5× | -6.9% | -2.8% |
| HBIS 000709.SZ | China | $2.96B | -16% | -6% | 5% | 12.2× | n/a | n/a |
| Outokumpu OUT1V.HE | Finland | $1.99B | -31% | -7% | -1% | 20.3× | 14.0% | -0.7% |
| Shandong Iron and Steel 600022.SS | China | $1.98B | -12% | -10% | n/a | 12.6× | 1.3% | -5.1% |
| Worthington Steel WS | United States | $1.88B | -9% | +69% | 3% | 9.7× | 26.5% | -1.5% |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 12% | 11.2× | -10.3% | +6.2% |