Chongyi Zhangyuan Tungsten Co Ltd
Chongyi Zhangyuan Tungsten Co Ltd operates in the Metals & Mining industry within the Materials sector, generating revenue through the extraction and processing of tungsten resources.
Business. Chongyi Zhangyuan Tungsten Co Ltd operates in the Metals & Mining industry within the Materials sector, generating revenue through the extraction and processing of tungsten resources.
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- Macro
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Chongyi Zhangyuan Tungsten Co Ltd operates in the Metals & Mining industry within the Materials sector, generating revenue through the extraction and processing of tungsten resources.
(a) Capital structure and liquidity are characterized by high leverage and tight liquidity buffers. The company reports total liabilities of CNY 4.38 billion against total equity of CNY 2.34 billion, resulting in a debt-to-equity ratio of 1.04. Long-term debt stands at CNY 2.42 billion, which exceeds the total equity base. The current ratio is 1.27, indicating limited short-term liquidity headroom. Operating cash flow of CNY 158.9 million is insufficient to cover the capital expenditure of CNY 240.4 million, resulting in negative free cash flow of CNY 111.4 million. The risk assessment flags negative net cash after subtracting total debt, highlighting reliance on external financing or asset liquidation to meet obligations.
(b) Profitability metrics reveal thin margins and low returns on capital. Revenue of CNY 5.20 billion yields a gross profit of CNY 831.7 million, implying a gross margin of approximately 16%. Operating income is CNY 335.2 million, leading to a net income of CNY 290.4 million. Return on equity is 8.02%, and return on assets is 2.79%, both indicating inefficient capital utilization relative to the high leverage employed. The valuation multiples are elevated, with a P/E ratio of 175.48 and an EV/EBITDA of 150.57, suggesting the market prices in significant future growth or scarcity value not currently reflected in earnings.
- High leverage with a debt-to-equity ratio of 1.04 and long-term debt exceeding total equity.
- Negative free cash flow of CNY 111.4 million due to capital expenditures outpacing operating cash flow.
- Elevated valuation multiples (P/E 175.48, EV/EBITDA 150.57) despite low returns on equity (8.02%) and assets (2.79%).
- Low dilution risk with no difference between basic and diluted share counts.
- Medium liquidity risk flagged by a current ratio of 1.27 and negative net cash position.
Bull / Bear case
Generated · model-assistedFree cash flow surged 42.5% year-over-year to 111.4 million CNY, demonstrating strong operational cash generation capabilities.
Net income grew at a 3.5% CAGR over four years, showing resilience despite broader revenue volatility.
The company faces high credit risk, posing a substantial threat to financial stability and potential default scenarios.
Debt-to-equity ratio of 1.04 is in the bottom quartile of the cohort, indicating excessive leverage compared to peers.
Net margin of 4.7% is below the cohort median of 5.27%, highlighting weaker profitability relative to industry standards.
In focus — financials by report
Revenue ¥3.40B, +6,2% YoY; Operating income −23,8% YoY.
- ▍Revenue ¥3.40B, +6,2% YoY
- ▍Operating income −23,8% YoY
- ▍Net income −29,2% YoY
- ▍Free cash flow +54,1% YoY
- ▍Net margin 4.2%
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- Net cash is negative after subtracting total debt.
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- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Market Capmarket_price * shares_outstanding_diluted
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- Chongyi Zhangyuan Tungsten Co Ltd Market data — financials · 2026-07-11