According to CRI analysis, China has the world's largest reserves of lithium, beryllium, niobium, tantalum, strontium and rubidium while zirconium, hafnium and cesium are scarce in China and rely on import to meet domestic demand. China's rare metal ores are concentrated in Sichuan, Jiangxi, Hunan, Qinghai, Tibet, Hubei, Xinjiang and Inner Mongolia.
The production volume of tungsten, molybdenum, indium, bismuth, germanium, gallium and tellurium is very small, but all of these metals have special attributes, making them indispensable materials in the high-tech industry. China has abundant rare metals and is the major producer in the world. In 2016, the production volume of major rare metals is: 90,000 tons of refined nickel ore, 97,000 tons of refined tin ore, 108,000 tons of refined stibium ore, 140,000 tons of refined tungsten ore (converted to WO3 65%) and 287,000 tons of refined molybdenum ore (converted to pure molybdenum 45%). The production of these ores all accounts for over 50% of corresponding global production volume. China's rare metals have long been exported as raw materials because of weak downstream demand. This is because Chinese enterprises have not invested enough in the high end of the industry chain, including key technologies, key materials and key parts.
According to CRI analysis, the rapid development of China's high-tech industries has been driving the demand for rare metals. The Chinese government has also been issuing policies to encourage developments in the rare metal industry and downstream new material industries. In the next few years, China's rare metal industry will continue to grow.
In this report, CRI analyzes 22 rare metal mining and smelting enterprises listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (Based on iFind) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Based on iFind) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 China Northern Rare Earth (Group) High-Tech Co., Ltd. (600111.SH)
2 Rising Nonferrous Metals Share Co., Ltd. (600259.SH)
3 Shenghe Resources Holding Co., Ltd. (600392.SH)
4 China Minmetals Rare Earth Co., Ltd. (000831.SZ)
5 Xiamen Tungsten Co., Ltd. (600549.SH)
6 China Tungsten And Hightech Materials Co., Ltd. (000657.SZ)
7 Chongyi Zhangyuan Tungsten Co., Ltd. (002378.SZ)
8 Guangdong Xianglu Tungsten Co., Ltd. (002842.SZ)
9 Jiangxi Ganfeng Lithium Co., Ltd. (002460.SZ)
10 Sichuan Tianqi Lithium Industries, Inc. (002466.SZ)
11 Jilin Ji En Nickel Industry Co., Ltd. (600432.SH)
12 Baoji Titanium Industry Co., Ltd. (600456.SH)
13 Sino-Platinum Metals Co., Ltd. (600459.SH)
14 Jinduicheng Molybdenum Co., Ltd. (601958.SH)
15 Jinzhou New China Dragon Molybdenum Co., Ltd. (603399.SH)
16 Zhejiang Huayou Cobalt Co., Ltd. (603799.SH)
17 China Molybdenum Co., Ltd. (603993.SH)
18 Chengdu Huaze Cobalt & Nickel Material Co., Ltd. (000693.SZ)
19 Shaanxi Ligeance Mineral Resources Co., Ltd. (000697.SZ)
20 Yunnan Tin Co., Ltd. (000960.SZ)
21 Guangdong Orient Zirconic Ind Sci and Tech Co., Ltd. (002167.SZ)
22 Yunnan Lincang Xinyuan Germanium Industry Co., Ltd. (002428.SZ)
1 China Northern Rare Earth (Group) High-Tech Co., Ltd. (600111.SH)
2 Rising Nonferrous Metals Share Co., Ltd. (600259.SH)
3 Shenghe Resources Holding Co., Ltd. (600392.SH)
4 China Minmetals Rare Earth Co., Ltd. (000831.SZ)
5 Xiamen Tungsten Co., Ltd. (600549.SH)
6 China Tungsten And Hightech Materials Co., Ltd. (000657.SZ)
7 Chongyi Zhangyuan Tungsten Co., Ltd. (002378.SZ)
8 Guangdong Xianglu Tungsten Co., Ltd. (002842.SZ)
9 Jiangxi Ganfeng Lithium Co., Ltd. (002460.SZ)
10 Sichuan Tianqi Lithium Industries, Inc. (002466.SZ)
11 Jilin Ji En Nickel Industry Co., Ltd. (600432.SH)
12 Baoji Titanium Industry Co., Ltd. (600456.SH)
13 Sino-Platinum Metals Co., Ltd. (600459.SH)
14 Jinduicheng Molybdenum Co., Ltd. (601958.SH)
15 Jinzhou New China Dragon Molybdenum Co., Ltd. (603399.SH)
16 Zhejiang Huayou Cobalt Co., Ltd. (603799.SH)
17 China Molybdenum Co., Ltd. (603993.SH)
18 Chengdu Huaze Cobalt & Nickel Material Co., Ltd. (000693.SZ)
19 Shaanxi Ligeance Mineral Resources Co., Ltd. (000697.SZ)
20 Yunnan Tin Co., Ltd. (000960.SZ)
21 Guangdong Orient Zirconic Ind Sci and Tech Co., Ltd. (002167.SZ)
22 Yunnan Lincang Xinyuan Germanium Industry Co., Ltd. (002428.SZ)
