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Battery cathode-materials maker in Hunan, backed by state mining conglomerate China Minmetals.
Battery cathode-materials maker in Hunan, backed by state mining conglomerate China Minmetals.
Moat: none (parent backing). Minmetals backing aids raw-material sourcing, but cathode materials are a competitive, price-driven segment.
Headquarters: Hunan, China · Employees: 2,313
Size Minmetals New Energy Materials (Hunan) (688779.SS) is a China Industrials company (Electrical Products) with a market value of $2.00B, the 1264th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.91 on 6 Nov 2026.
Performance Over six months the shares fell 36.0%, against -20.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 19 in its peer set.
Growth Revenue grew 146.0% over the last twelve months (peer median +4.1%); the operating margin is 4.9% (peer median 10.2%).
Valuation It trades at 23.8× forward earnings against a peer median of 21.5× (7th most expensive of 16).
Capital Return on invested capital runs 1.9 points below its cost of capital (7.6% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥16.8B | CN¥9.34B | CN¥5.54B | CN¥10.7B | CN¥17.9B |
| Revenue growth | — | +69% | -48% | -40% | — |
| Gross profit | CN¥1.84B | CN¥681M | CN¥108M | CN¥434M | CN¥2.50B |
| EBITDA | n/a | CN¥643M | -CN¥82.4M | CN¥53.7M | CN¥1.79B |
| Net income | CN¥710M | CN¥228M | -CN¥508M | -CN¥124M | CN¥1.49B |
| Free cash flow | -CN¥114M | CN¥107M | -CN¥76.1M | -CN¥543M | -CN¥165M |
| Capital expenditure | CN¥47.4M | CN¥133M | CN¥339M | CN¥649M | CN¥468M |
| Total debt | CN¥10.1B | CN¥7.52B | CN¥4.48B | CN¥5.52B | CN¥7.13B |
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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 | 688779.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.6% | -10.4% | 10th highest of 21 |
| 6-month return | -36.0% | -20.2% | 4th lowest of 19 |
| Distance from 52-week high | -45.9% | -43.0% | 9th lowest of 21 |
| Revenue growth (TTM) | +146.0% | +4.1% | highest of 21 |
| Operating margin | 4.9% | 10.2% | 7th lowest of 21 |
| Forward P/E | 23.8× | 21.5× | 7th most expensive of 16 |
| ROIC minus cost of capital | -1.9 pp | +2.1 pp | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Minmetals New Energy Materials (Hunan) 688779.SS | China | $2.00B | -36% | +146% | 5% | 23.8× | n/a | n/a |
| Xian Sinofuse Electric 301031.SZ | China | $1.99B | -16% | +56% | 21% | 22.1× | n/a | n/a |
| SMA Solar Technology S92.DE | Germany | $1.99B | -21% | +4% | -7% | 16.7× | -4.2% | +8.1% |
| Dajin Heavy Industry 1081.HK | Hong Kong | $2.03B | n/a | +2% | 19% | 10.6× | n/a | n/a |
| Jinlongyu 002882.SZ | China | $1.97B | -21% | -1% | 3% | n/a | n/a | n/a |
| AQ Group AB AQ.ST | Sweden | $2.04B | -5% | +11% | 9% | 24.7× | 12.4% | +13.5% |
| TD Power Systems TDPOWERSYS.NS | India | $1.96B | -7% | +54% | 17% | 47.1× | 40.6% | +25.6% |
| Meidensha 6508.T | Japan | $1.96B | -20% | +12% | 10% | 11.0× | 5.1% | +7.1% |
| Zhejiang E-P Equipment 603194.SS | China | $2.04B | -3% | +17% | 13% | 14.8× | n/a | n/a |
| Jiangxi Special Electric Motor 002176.SZ | China | $1.96B | -52% | -13% | -13% | n/a | 48.7% | +1.2% |
| Titan Wind Energy (Suzhou) 002531.SZ | China | $2.05B | -37% | -1% | 5% | 29.4× | n/a | n/a |
| Ligent Technologies 9856.HK | Hong Kong | $2.07B | n/a | +33% | 12% | n/a | n/a | n/a |
| Chung-Hsin Electric & Machinery Manufacturing 1513.TW | Taiwan | $2.07B | -10% | +4% | 19% | 14.7× | -2.2% | +12.3% |
| Signify LIGHT.AS | Netherlands | $2.09B | -26% | -8% | 7% | 8.5× | -12.5% | -2.4% |
| Simplo Technology 6121.TWO | Taiwan | $1.90B | -6% | +3% | 11% | 9.6× | -20.1% | -0.8% |
| Voltronic Power Technology 6409.TW | Taiwan | $2.10B | +1% | -13% | 20% | 21.5× | 6.2% | +8.5% |
| Jiangsu Cnano Technology 688116.SS | China | $1.90B | -19% | +8% | 19% | 32.6× | n/a | n/a |
| Chengdu Jiachi Electronic Technology 688708.SS | China | $2.11B | -33% | -7% | 26% | n/a | n/a | n/a |
| Jiangsu Leili Motor 300660.SZ | China | $1.90B | -33% | +16% | 5% | 70.5× | 29.1% | +11.6% |
| Hangzhou Zhongheng Electric 002364.SZ | China | $1.89B | -40% | +17% | 4% | 70.6× | n/a | n/a |
| CETC Chips Technology 600877.SS | China | $1.87B | -36% | -2% | -3% | n/a | n/a | n/a |