Tianshan Aluminum Group Co Ltd (002532) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Tianshan Aluminum Group Co Ltd stock ¥11.42, price ¥12.19, that is 6.3% below the price, quality 74 out of 100. Rating: fairly valued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Tianshan Aluminum Group Co Ltd
002532 · SHEThe stock costs about what our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range ¥4.34 – ¥19.84 · fair‑value band ¥7.92 – ¥14.66 · the ¥12.19 price screens above the ¥11.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Company profile
Tianshan Aluminum Group Co.,Ltd, together with its subsidiaries, produces and sells primary aluminum, prebaked anodes, high-purity aluminum, alumina, and aluminum foil products in China and internationally.
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It operates through Original Aluminum Plate, High-Purity Aluminum, Aluminum Oxide Plate, Aluminum Foil and Aluminum Foil Stock, and other segments.
The company offers bauxite, anode carbon, electrolytic aluminum, and power battery aluminum foil, as well as power generation and aluminum deep processing services.
It also provides aluminum ingots; carbon and its products; furnace charge products; aluminum alloy materials; aluminum hydroxide; comprehensive services for the energy industry chain; aluminum smelting; high-precision aluminum engineering-related technical services; and vocational and technical training services.
In addition, it engages in the wholesale of metals and metal ores; construction and operation of railways; quicklime mining and sales; unit logistics management services; and international trade and foreign investment activities.
Tianshan Aluminum Group Co.,Ltd was founded in 1997 and is based in Shanghai, China.
Stock analysis
Tianshan Aluminum Group Co Ltd (002532) currently trades at ¥12.19, while our model-based Fair Value estimate is ¥11.42, so the stock looks roughly fairly valued today (gap 6.7%).
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥21.02 per share, and 16 of the 25 models we run sit above the ¥12.19 price.
Bear case: the Asset-Based group reads lowest at ¥4.06, and 9 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥7.92 (bear) to ¥14.66 (bull), the price of ¥12.19 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 74/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tianshan Aluminum Group Co Ltd reported revenue of 29.5B CNY in FY2025 versus 28.7B CNY in FY2021, a compound +0.7%/yr. Reported net income was 4.8B CNY in FY2025, compounding +5.9%/yr from FY2021.
Key figures
Market cap 56.4B CNY (≈ $8.5B) Mid · P/E ratio 7.1 · P/S ratio 1.63 · EPS (TTM) ¥1.72 · Dividend yield 4.5% · Net margin 22.8% · Return on equity 25.6% · Return on assets (EBIT) 8.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 83 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 9% fair-value upside, at −6%, 002532 screens richer than that median.
Fair Value models
All 25 models by family
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare Tianshan Aluminum Group Co Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aluminum · 82 stocks
Valuation Multiplesvs Aluminum median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EBIT margin by industry
- P/S ratio by industry
- Stock screener with 62 metrics
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Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aluminum stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Shandong Hongqiao Aluminum Industry Holding 002379 | ¥14.85 | ¥23.21 | +56% | vs 002532 |
| China Hongqiao Group 1378 | HK$21.02 | HK$30.21 | +44% | vs 002532 |
| Henan Shenhuo Coal Industry and Electricity Power Co 000933 | ¥25.77 | ¥32.01 | +24% | vs 002532 |
| Press Metal Aluminium Holdings 8869 | 7.00 MYR | 7.70 MYR | +10% | vs 002532 |
| Hindalco Industries Limited HINDALCO | ₹937.85 | ₹1,026 | +9% | vs 002532 |
| Alcoa Corporation AA | $40.58 | $39.73 | −2% | vs 002532 |
| Shandong Nanshan Aluminium Co 600219 | ¥4.43 | ¥4.29 | −3% | vs 002532 |
| Norsk Hydro ASA NHY | kr 68.76 | kr 66.35 | −4% | vs 002532 |
| Yunnan Aluminium Co 000807 | ¥25.30 | ¥13.49 | −47% | vs 002532 |
| Aluminum Corporation 601600 | ¥8.78 | ¥4.16 | −53% | vs 002532 |
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Key figures of Tianshan Aluminum Group Co Ltd
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