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Vertically integrated Chinese battery-materials maker, from cobalt/nickel mining to cathode precursors and recycling.
Vertically integrated Chinese battery-materials maker, from cobalt/nickel mining to cathode precursors and recycling.
Sells cobalt and nickel intermediates plus cathode precursors, the chemical powder battery makers turn into cathodes, so revenue moves with metals prices as well as volumes. Has partnered with large nickel players such as Tsingshan on Indonesian plants. Owning mines in Congo and Indonesia lets it capture the mining margin.
In one line: China's Albemarle for cobalt/nickel battery materials.
Moat: narrow (scale, process know-how). Owns Congo cobalt and Indonesia nickel mines feeding its own precursor/cathode plants, a rare integrated chain.
Headquarters: Tongxiang, China · Founded: 2002 · Employees: 26,466
Size Zhejiang Huayou Cobalt (603799.SS) is a China Materials company (Other Metals/Minerals) with a market value of $9.30B, the 266th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.04 on 6 Nov 2026.
Performance Over six months the shares fell 50.4%, against -19.7% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 38.2% over the last twelve months (peer median +50.9%); the operating margin is 12.0% (peer median 16.4%).
Valuation It trades at 9.3× forward earnings against a peer median of 13.4× (5th cheapest of 21).
Capital Return on invested capital runs 0.8 points above its cost of capital (7.6% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥103B | CN¥81.0B | CN¥60.9B | CN¥66.3B | CN¥63.0B |
| Revenue growth | — | +33% | -8% | +5% | — |
| Gross profit | CN¥23.3B | CN¥13.6B | CN¥10.0B | CN¥8.92B | CN¥11.4B |
| EBITDA | n/a | CN¥14.7B | CN¥11.0B | CN¥8.28B | CN¥7.94B |
| Net income | CN¥6.20B | CN¥6.11B | CN¥4.15B | CN¥3.35B | CN¥3.91B |
| Free cash flow | -CN¥11.9B | -CN¥5.51B | CN¥6.68B | -CN¥12.1B | -CN¥13.3B |
| Capital expenditure | CN¥16.3B | CN¥10.8B | CN¥6.72B | CN¥16.8B | CN¥16.2B |
| Total debt | CN¥90.0B | CN¥71.5B | CN¥69.0B | CN¥66.0B | CN¥56.5B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Huayou Cobalt 603799.SS | $9.30B | -50% | +38% | 12% | 9.3× | n/a |
| CNGR Advanced Material 300919.SZ | $4.72B | -48% | +46% | 7% | 12.6× | n/a |
| CMOC 603993.SS | $41.0B | -29% | +32% | 20% | 8.7× | -5.4% |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 10.9× | 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 | 603799.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.2% | -15.2% | 6th highest of 21 |
| 6-month return | -50.4% | -19.7% | 2nd lowest of 21 |
| Distance from 52-week high | -59.8% | -42.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | +38.2% | +50.9% | 9th lowest of 21 |
| Operating margin | 12.0% | 16.4% | 6th lowest of 21 |
| Forward P/E | 9.3× | 13.4× | 5th cheapest of 21 |
| ROIC minus cost of capital | +0.8 pp | +4.4 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Huayou Cobalt 603799.SS | China | $9.30B | -50% | +38% | 12% | 9.3× | n/a | n/a |
| Hudbay Minerals HBM.TO | Canada | $9.35B | -10% | +13% | 32% | 12.0× | 18.1% | +15.8% |
| Tongling Nonferrous Metals 000630.SZ | China | $9.83B | -20% | +46% | 6% | 10.5× | n/a | n/a |
| Western Mining 601168.SS | China | $9.85B | -7% | +18% | 17% | 8.2× | -5.6% | +16.5% |
| Lynas Rare Earths LYC.AX | Australia | $8.58B | -38% | +76% | 25% | 26.7× | 34.3% | +14.9% |
| Xiamen Tungsten 600549.SS | China | $8.55B | -37% | +67% | 10% | 13.2× | n/a | n/a |
| Ivanhoe Mines IVN.TO | Canada | $8.43B | -26% | +109% | 7% | 18.9× | n/a | n/a |
| Jinduicheng Molybdenum 601958.SS | China | $8.06B | -15% | +7% | 32% | 13.6× | 4.2% | +13.7% |
| MMG 1208.HK | Hong Kong | $11.2B | -27% | +48% | 43% | 6.3× | -11.3% | +15.6% |
| China Rare Earth Resources And Technology 000831.SZ | China | $7.57B | -7% | -2% | 15% | 103.1× | 53.1% | +14.0% |
| Wanguo Gold 3939.HK | Hong Kong | $7.31B | +6% | +79% | 67% | 20.2× | 1.7% | +17.0% |
| Yunnan Lincang Xinyuan Germanium Industry 002428.SZ | China | $7.09B | +3% | +54% | 13% | 230.8× | n/a | n/a |
| Aurubis NDA.DE | Germany | $6.73B | -35% | +23% | 6% | 15.1× | n/a | n/a |
| Sumitomo Metal Mining 5713.T | Japan | $13.2B | -19% | +22% | 14% | 8.1× | 8.5% | +13.5% |
| China Tungsten & Hightech Materials 000657.SZ | China | $13.2B | -34% | +66% | 16% | 21.0× | n/a | n/a |
| NMDC NMDC.NS | India | $6.55B | -22% | +27% | 27% | 7.4× | 5.2% | +15.8% |
| Aura Minerals AUGO | United States | $6.52B | -5% | +89% | 53% | 10.6× | -6.0% | +25.2% |
| Discovery Mining DSV.TO | Canada | $6.44B | +19% | +684% | 38% | 17.6× | 19.9% | n/a |
| PLS PLS.AX | Australia | $6.33B | -56% | +152% | 43% | 10.6× | 2.5% | +61.6% |
| MP Materials MP | United States | $6.31B | -47% | +72% | -17% | 248.7× | n/a | n/a |
| South32 S32.AX | Australia | $13.7B | -1% | -4% | 15% | 12.7× | 6.3% | +3.2% |