Tibet Summit Resources Co Ltd (600338) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tibet Summit Resources Co Ltd stock ¥3.90, price ¥11.36, that is 65.7% below the price, quality 63 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ¥7.74 – ¥49.89 · fair‑value band ¥3.10 – ¥6.08 · the ¥11.36 price screens above the ¥3.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Xizang Zhufeng Resources Co., Ltd., together with its subsidiaries, engages in the exploration, mining, beneficiation, smelting, and sale of mineral resource products in China, Tajikistan, and Argentina. The company mines for lead, zinc, brine lithium, gold, silver, and copper concentrates deposits.
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It also engages in the trade, import, and export; research, development, service, and trasnfer of mineral resource technology and information; and investment in and management of mineral resource projects. Xizang Zhufeng Resources Co., Ltd. was founded in 1998 and is based in Shanghai, China.
Stock analysis
Tibet Summit Resources Co Ltd (600338) currently trades at ¥11.36, while our model-based Fair Value estimate is ¥3.90, 66% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥8.61 per share, and 1 of the 25 models we run sit above the ¥11.36 price.
Bear case: the Dividend Discount group reads lowest at ¥0.9800, and 24 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥3.10 (bear) to ¥6.08 (bull), the price of ¥11.36 sits above 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 63/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tibet Summit Resources Co Ltd reported revenue of 2.4B CNY in FY2025 versus 2.0B CNY in FY2021, a compound +4.4%/yr. Reported net income was 512M CNY in FY2025, compounding −8.2%/yr from FY2021.
Key figures
Market cap 10.4B CNY (≈ $1.6B) Small · P/E ratio 18.6 · P/S ratio 3.54 · EPS (TTM) ¥0.6100 · Dividend yield 0.2% · Net margin 19.3% · Return on equity 12.2% · Return on assets (EBIT) 8.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 59% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −8% fair-value upside, at −66%, 600338 screens richer than that median.
Fair Value models
Bear¥3.10Fair Value ¥3.90Bull¥6.08
Price ¥11.36 · Downside -65.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.5043 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+48.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
Start year 2020 (pandemic). Over 10 years: +5.0% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ −7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.3%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.1% vs 6.7%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 22%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 3.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2025 sits 60% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+62.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +60.2% a year for the price.
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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.Other Industrial Metals & Mining · 371 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−65.7% · Below median
Profitability
Return on equity (12 months)12.2% · Top 25%
Return on assets7.5% · Top 25%
Net margin (12 months)19.3% · Top 25%
Operating margin (12 months)34.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)41.6% · Above median
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tibet Summit Resources Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600338
Frequently asked questions
Is Tibet Summit Resources Co Ltd (600338) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥3.90 versus a price of ¥11.36, about 66% lower (overvalued).
What is the fair value of 600338?
Our model-based fair value for Tibet Summit Resources Co Ltd is ¥3.90 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥11.36.
What is the quality score of 600338?
Tibet Summit Resources Co Ltd has a Quality Score of 63/100. 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 price target for Tibet Summit Resources Co Ltd (600338)?
Our model-based price target is the fair value of ¥3.90 (as of Nov 7, 2026) from 25 valuation models. Cautious scenario ¥3.10, optimistic scenario ¥6.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Tibet Summit Resources Co Ltd stock forecast for 2026?
Our models put fair value at ¥3.90, about 66% lower versus a price of ¥11.36 (overvalued). Cautious scenario ¥3.10, optimistic scenario ¥6.08. The calculation is refreshed regularly with new filings.
What is the revenue of Tibet Summit Resources Co Ltd (600338)?
Tibet Summit Resources Co Ltd reported trailing-twelve-month revenue of about 2.9B CNY (latest available figure, as of Nov 7, 2026).
Does Tibet Summit Resources Co Ltd pay a dividend?
Tibet Summit Resources Co Ltd currently shows a dividend yield of 0.18% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Tibet Summit Resources Co Ltd (600338) and when is the ex-dividend date?
Tibet Summit Resources Co Ltd pays a dividend of ¥0.02 per share a year, a dividend yield of 0.2%. The last ex-dividend date was Jul 16, 2026. The payout ratio is 3.3% of earnings. Free cash flow covers the dividend 3.23 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Tibet Summit Resources Co Ltd (600338)?
For today's price to be fair in a discounted-cash-flow model, Tibet Summit Resources Co Ltd would have to grow free cash flow by +62.9 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.5 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 600338 use?
Our models discount Tibet Summit Resources Co Ltd at 12.5 %: a base by market capitalisation (small), damped by beta 1.20, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Tibet Summit Resources Co Ltd that is +62.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has Tibet Summit Resources Co Ltd (600338) delivered so far?
Over the past 5 years revenue at Tibet Summit Resources Co Ltd grew +16.5 % a year. The price currently implies free-cash-flow growth of +62.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Tibet Summit Resources Co Ltd (600338) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Tibet Summit Resources Co Ltd (+62.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tibet Summit Resources Co Ltd (600338)?
The free-cash-flow yield on the price is 0.57 %: that much free cash flow Tibet Summit Resources Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tibet Summit Resources Co Ltd (600338)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tibet Summit Resources Co Ltd it is ¥3.90 per share (as of Nov 7, 2026), against a price of ¥11.36. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tibet Summit Resources Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 600338 trades above its calculated fair value: price ¥11.36, fair value ¥3.90, a gap of about −66% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 600338?
No. The price is what the market pays today (¥11.36); the fair value is what the company's own numbers justify (¥3.90). For Tibet Summit Resources Co Ltd the two are ¥7.46 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tibet Summit Resources Co Ltd worth?
The market values Tibet Summit Resources Co Ltd at about 10.4B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥11.36; our models calculate a fair value of ¥3.90 per share.
What do the bullish and bearish scenarios say about 600338?
Our models span a range for Tibet Summit Resources Co Ltd: cautious scenario ¥3.10, base ¥3.90, optimistic ¥6.08 per share (as of Nov 7, 2026, price ¥11.36). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600338?
Tibet Summit Resources Co Ltd trades at a price-to-earnings ratio of 18.6 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥3.90 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2019 to 2025), reported earnings: 45.1. Other multiples: P/B 2.3, P/S 3.5, EV/EBITDA 9.4.
How solid is the balance sheet of Tibet Summit Resources Co Ltd (600338)?
Balance-sheet figures for Tibet Summit Resources Co Ltd (as of Nov 7, 2026): return on equity 12.2%, debt of 0.03 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 600338 from its 52-week high?
Tibet Summit Resources Co Ltd trades at ¥11.36, about 59% below its 52-week high of ¥27.61 and 5% above the low of ¥10.84 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.90 is for.
Which stocks are comparable to Tibet Summit Resources Co Ltd?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tibet Summit Resources Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price ¥11.36, calculated fair value ¥3.90 (−66%), Quality Score 63/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 600338 calculated?
We run Tibet Summit Resources Co Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥3.90 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Tibet Summit Resources Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tibet Summit Resources Co Ltd (600338)?
The closing price on Nov 6, 2026 was ¥11.36. Our model-based fair value is ¥3.90, about 66% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tibet Summit Resources Co Ltd right now?
The price sits above even our optimistic bull case (¥6.08). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥3.10 to ¥6.08) leaves room in how you read the outcome.
Where does the earnings growth of Tibet Summit Resources Co Ltd (600338) come from?
Earnings per share at Tibet Summit Resources Co Ltd grew +4.9 % a year from 2014 to 2024. Broken into its drivers: revenue per share −1.0 %, EBIT margin +8.6 %, tax rate −1.6 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Tibet Summit Resources Co Ltd
How large is the market capitalisation of Tibet Summit Resources Co Ltd (600338)?
The market capitalisation of Tibet Summit Resources Co Ltd is 10.4B CNY (≈ $1.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tibet Summit Resources Co Ltd (600338)?
The price-to-sales ratio of Tibet Summit Resources Co Ltd is 3.54 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tibet Summit Resources Co Ltd (600338)?
Earnings per share at Tibet Summit Resources Co Ltd are ¥0.6100 (price ÷ EPS = P/E 18.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tibet Summit Resources Co Ltd (600338)?
The dividend yield of Tibet Summit Resources Co Ltd is 0.2% (payout 3.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tibet Summit Resources Co Ltd (600338)?
The net margin of Tibet Summit Resources Co Ltd is 19.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tibet Summit Resources Co Ltd (600338)?
The return on equity (ROE) of Tibet Summit Resources Co Ltd is 12.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tibet Summit Resources Co Ltd (600338)?
On an EBIT basis the return on assets of Tibet Summit Resources Co Ltd is 8.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tibet Summit Resources Co Ltd (600338)?
The operating margin of Tibet Summit Resources Co Ltd is 34.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tibet Summit Resources Co Ltd (600338)?
Revenue at Tibet Summit Resources Co Ltd is growing +41.6% versus a year earlier (3y avg +7.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tibet Summit Resources Co Ltd (600338)?
Earnings per share at Tibet Summit Resources Co Ltd are growing +0.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tibet Summit Resources Co Ltd (600338) carry?
The net debt of Tibet Summit Resources Co Ltd is 6.2M CNY (fiscal year 2025, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026