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Jinchuan Group (2362) Fair Value & Analysis

Basic Materials · HK · Market cap HK$8.4B

JG Jinchuan Group 2362 · HK
PriceHK$0.6360
Fair ValueHK$0.3900
Upside-38.7%
Quality39/100
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Mixed Growth
Thin margins · 6.8% net margin
Moderate debt · negative free cash flow
Mixed vs. peers (6/13)
Narrow moat 35/100
Evidence: Medium Range HK$0.3900 – HK$0.3900 Share as image

Fair value as of: Aug 5, 2026

From 14 valuation models · updated 5 days ago

Below-average quality, and screening another 39% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.3900). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

HK$1.40 HK$0.3728 Fair Value HK$0.3900 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range HK$0.3728 – HK$1.40 · the HK$0.6360 price screens above the HK$0.3900 fair value. Dashed = 300-day average. As of Aug 5, 2026.

Full chart & analysis →

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Analysis

Jinchuan Group (2362) currently trades at HK$0.6360, while our model-based Fair Value estimate is HK$0.3900, implying the stock looks roughly 38.7% overvalued today. The Quality Score stands at 39/100 (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, Jinchuan Group generated revenue of HK$482M at a net margin of 6.8%. Revenue grew 7.4% year over year. It earns a return on equity of 3.2%. Net debt stands at HK$416M. Fundamentals as of Aug 5, 2026

The share trades near its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -39%, 2362 screens cheaper 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 HK$0.0500 HK$0.0500 HK$0.0400 76
Gordon GGM HK$0.0100 70
Growth-Adj P/E HK$0.0700 HK$0.1000 HK$0.1300 68
All 14 models by family
DCF Models
Owner Earnings HK$0.0100 HK$0.0600 HK$0.1500 31
Earnings-Based
Graham-Dodd HK$0.0200 HK$0.1200 HK$0.1700 54
Lynch FV HK$0.0600 HK$0.0800 HK$0.1100 50
PEG = 1.0 HK$0.0600 HK$0.0800 HK$0.1100 46
Dividend Discount
Gordon GGM HK$0.0100 70
Multiples
P/E Multiple HK$0.0300 HK$0.0400 HK$0.0500 63
P/S Multiple HK$0.0300 HK$0.0400 HK$0.0500 58
P/B Multiple HK$0.0300 HK$0.0400 HK$0.0500 55
EV/EBIT HK$0.0100 HK$0.0200 HK$0.0400 53
EV/EBITDA HK$0.0600 HK$0.0900 HK$0.1200 54
EV/Revenue HK$0.0200 HK$0.0400 43
Asset-Based
NCAV (Graham) HK$0.0400 HK$0.0500 HK$0.0700 50
Economic Profit
Residual Income HK$0.0500 HK$0.0500 HK$0.0400 76
Growth Earnings
Growth-Adj P/E HK$0.0700 HK$0.1000 HK$0.1300 68

Widest divergence: Growth Earnings (HK$0.1000) versus Multiples (HK$0.0400). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) HK$482M
Revenue growth (YoY) +7.4%
Net margin 6.8%
Return on equity 3.2%
Free cash flow −HK$96.5M FY2025
P/E ratio 32.0
More key figures
Operating margin 15.0%
EPS growth (YoY) -19.6%
Net debt HK$416M FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 50

Profitability 19
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 66
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

Jinchuan Group International Resources Co. Ltd, an investment holding company, engages in mining operations in Hong Kong, the Democratic Republic of the Congo, and Switzerland. It operates through Mining Operations; and Trading of Mineral and Metal Products segments.

Full company description

Jinchuan Group International Resources Co. Ltd, an investment holding company, engages in mining operations in Hong Kong, the Democratic Republic of the Congo, and Switzerland. It operates through Mining Operations; and Trading of Mineral and Metal Products segments. The company operates Ruashi mine, a copper and cobalt mine located in Lubumbashi in the Haut Katanga province of the Democratic Republic of the Congo; the Musonoi mine, a copper and cobalt mine located on the outskirts of Kolwezi in the Lualaba Province of the Democratic Republic of the Congo; and the Kinsenda mine, a copper mine situated in Haut Katanga Province of the Democratic Republic of the Congo. It also has interests in the Chibuluma South mine, a copper mine located in Zambia; and the Lubembe project located in the Democratic Republic of the Congo. In addition, the company trades in minerals and metal products. The company was formerly known as Macau Investment Holdings Limited and changed its name to Jinchuan Group International Resources Co. Ltd in February 2011. Jinchuan Group International Resources Co. Ltd was incorporated in 2001 and is headquartered in Admiralty, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jinchuan Group reported revenue of HK$483M in FY2025 versus HK$832M in FY2021, a compound −12.7%/yr. Reported net income was HK$32.7M in FY2025, compounding −33.0%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$483M
Avg. growth/yr (3Y)
−12.3%
Avg. growth/yr (5Y)
−14.7%
Avg. growth/yr (23Y)
+7.3%
Revenue −12.7%/yr
FY21 HK$832M
FY22 HK$882M
FY23 HK$639M
FY24 HK$562M
FY25 HK$483M
Net income −33.0%/yr
FY21 HK$162M
FY22 HK$6.9M
FY23 −HK$11.6M
FY24 −HK$2.5M
FY25 HK$32.7M

2362 screens 39% overvalued. Compare with Southern Copper Corporation →

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Cite: Fair Value Calculator (2026). "Jinchuan Group Fair Value". https://www.fairvalue-calculator.com/stock/2362

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 39 · Below median
Fair Value upside −39% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 15% · Above median
Revenue growth 7% · Bottom 25%
Debt / equity 0.62× · Higher than 75% of peers

Valuation Multiples vs Copper median · lower = cheaper

P/E (TTM) 32.0× · Pricier than median
P/B 1.10× · Cheaper than median
P/S (TTM) 2.22× · Pricier than median
EV/EBITDA 8.6× · Cheaper than median
PEG 0.10× · Cheaper than 75% of peers

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 37 · sector 100
PAST 13 · sector 22
HEALTH 69 · sector 93
DIVIDEND 0 · 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 Aug 5, 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%
Tongling Nonferrous Metals Group 000630 ¥5.79 ¥3.06 -47%
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%

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Frequently asked questions

Is Jinchuan Group (2362) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of HK$0.3900 versus a price of HK$0.6360, about −39% (overvalued).
What is the fair value of 2362?
Our model-based fair value for Jinchuan Group is HK$0.3900 (as of Aug 5, 2026), built from audited fundamentals. The current price is HK$0.6360.
What is the quality score of 2362?
Jinchuan Group has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Jinchuan Group (2362)?
Jinchuan Group reported trailing-twelve-month revenue of about HK$482M (latest available figure, as of Aug 5, 2026).
What is the net profit margin of 2362?
The net profit margin of Jinchuan Group is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.

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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