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Tongling Nonferrous Metals Group (000630) Fair Value & Analysis

Basic Materials · CN · Market cap 77.6B CNY

TN Tongling Nonferrous Metals Group 000630 · SHE
Price¥6.57
Fair Value¥3.06
Upside-53.4%
Quality49/100
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Expensive Growth
Thin margins · 1.3% net margin
Low debt · negative free cash flow
1.65% dividend yield
Mixed vs. peers (8/14)
Narrow moat 40/100
Evidence: Medium Range ¥2.30 – ¥3.83 Share as image

Fair value as of: Jul 17, 2026

From 15 valuation models · updated 21 days ago

Fair value updated Jul 17, 2026, revised from ¥4.52 to ¥3.06 (−32.3%) since Jun 25, 2026. Share price +8.1% over the past month.

Below-average quality, and screening another 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥3.83). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥9.12 ¥2.31 Fair Value ¥3.06 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ¥2.31 – ¥9.12 · fair‑value band ¥2.30 – ¥3.83 · the ¥6.57 price screens above the ¥3.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Tongling Nonferrous Metals Group (000630) currently trades at ¥6.57, while our model-based Fair Value estimate is ¥3.06, implying the stock looks roughly 53.4% overvalued today. We read business quality at 49/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Tongling Nonferrous Metals Group generated revenue of 202B CNY at a net margin of 1.3%. Revenue grew 83.6% year over year. It earns a return on equity of 9.2%. Net debt stands at 20.2B CNY. Fundamentals as of Jul 17, 2026

Our scenario range runs from ¥2.30 (bear case) to ¥3.83 (bull case); at ¥6.57, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -53%, 000630 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥2.21 ¥2.30 ¥2.40 76
ROIC Compounder ¥6.72 ¥10.23 ¥14.06 72
Growth-Adj P/E ¥3.38 ¥4.82 ¥6.27 68
All 15 models by family
DCF Models
Owner Earnings ¥2.37 ¥6.00 ¥13.62 31
Earnings-Based
Graham-Dodd ¥1.22 ¥8.53 ¥11.97 54
Lynch FV ¥2.52 ¥3.60 ¥4.68 50
PEG = 1.0 ¥2.52 ¥3.60 ¥4.68 46
EPV ¥5.30 ¥6.26 ¥7.10 59
Multiples
P/E Multiple ¥2.70 ¥3.60 ¥4.50 63
P/S Multiple ¥2.30 ¥3.06 ¥3.83 58
P/B Multiple ¥2.30 ¥3.06 ¥3.83 55
EV/EBIT ¥9.42 ¥12.72 ¥16.02 53
EV/EBITDA ¥9.00 ¥12.16 ¥15.32 54
EV/Revenue ¥6.19 ¥9.05 ¥11.91 43
Asset-Based
NCAV (Graham) ¥1.38 ¥1.85 ¥2.76 50
Economic Profit
Residual Income ¥2.21 ¥2.30 ¥2.40 76
ROIC Compounder ¥6.72 ¥10.23 ¥14.06 72
Growth Earnings
Growth-Adj P/E ¥3.38 ¥4.82 ¥6.27 68

Widest divergence: DCF Models (¥6.00) versus Asset-Based (¥1.85). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 202B CNY
Revenue growth (YoY) +83.6%
Net margin 1.3%
Return on equity 9.2%
Free cash flow −3.4B CNY FY2025
P/E ratio 29.0
More key figures
Operating margin 6.0%
EPS (TTM) ¥0.2000
Dividend yield 1.7%
EPS growth (YoY) -10.0%
Net debt 20.2B CNY FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 43 · Market factors (momentum, volatility) 59

Profitability 41
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 39
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Tongling Nonferrous Metals Group Co.,Ltd. engages in the mining, smelting, beneficiation, processing, and trading of copper. It offers cathode copper, sulfuric acid, gold, silver, copper foil, and copper strip and plates. The company was founded in 1992 and is headquartered in Tongling, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tongling Nonferrous Metals Group reported revenue of ¥173B in FY2025 versus ¥131B in FY2021, a compound +7.2%/yr. Reported net income was ¥2.4B in FY2025, compounding −6.1%/yr from FY2021.

Growth Quality 53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
173B CNY
Latest YoY
+18.8%
Avg. growth/yr (3Y)
+12.4%
Avg. growth/yr (5Y)
+11.7%
Avg. growth/yr (32Y)
+31.8%
Revenue +7.2%/yr
FY21 ¥131B
FY22 ¥122B
FY23 ¥137B
FY24 ¥146B
FY25 ¥173B
Net income −6.1%/yr
FY21 ¥3.1B
FY22 ¥4.2B
FY23 ¥2.7B
FY24 ¥2.8B
FY25 ¥2.4B

000630 screens 53% overvalued. Compare with Southern Copper Corporation →

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Cite: Fair Value Calculator (2026). "Tongling Nonferrous Metals Group Fair Value". https://www.fairvalue-calculator.com/stock/000630

Peer Group

Copper · 58 stocks

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.

Quality Score 49 · Above median
Fair Value upside −53% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 7% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 84% · Top 25%
Dividend yield (TTM) 1.7% · Top 25%
Debt / equity 0.30× · Higher than median

Valuation Multiples vs Copper median · lower = cheaper

P/E (TTM) 29.0× · Pricier than median
P/B 2.10× · Pricier than median
P/S (TTM) 0.38× · Cheaper than 75% of peers
EV/EBITDA 5.8× · Cheaper than 75% of peers
PEG 0.49× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 100
PAST 37 · sector 22
HEALTH 85 · sector 93
DIVIDEND 33 · sector 20

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Copper stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Southern Copper Corporation SCCO $175.66 $86.74 -51%
Freeport-McMoRan Inc FCX $61.52 $22.81 -63%
Lundin Mining Corporation LUN C$34.86 C$18.67 -46%
Jiangxi Copper Company 600362 ¥39.03 ¥35.19 -10%
Hudbay Minerals Inc HBM C$28.58 C$21.79 -24%
Zhejiang Hailiang Co 002203 ¥16.66 ¥7.00 -58%
Capstone Copper Corp CSC A$13.06 A$7.28 -44%
Yunnan Copper Co 000878 ¥14.32 ¥9.12 -36%
China Nonferrous Mining Corporation 1258 HK$14.75 HK$1.76 -88%
Hindustan Copper Limited HINDCOPPER ₹486.15 ₹158.42 -67%

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Frequently asked questions

Is Tongling Nonferrous Metals Group (000630) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ¥3.06 versus a price of ¥6.57, about −53% (overvalued).
What is the fair value of 000630?
Our model-based fair value for Tongling Nonferrous Metals Group is ¥3.06 (as of Jul 17, 2026), built from audited fundamentals. The current price is ¥6.57.
What is the quality score of 000630?
Tongling Nonferrous Metals Group has a Quality Score of 49/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Tongling Nonferrous Metals Group (000630)?
Tongling Nonferrous Metals Group reported trailing-twelve-month revenue of about 202B CNY (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 000630?
The net profit margin of Tongling Nonferrous Metals Group is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.
Does Tongling Nonferrous Metals Group pay a dividend?
Tongling Nonferrous Metals Group currently shows a dividend yield of about 1.49% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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