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General information

Sector: Other Industrial Metals and Mining

China Molybdenum Co., Ltd., together with its subsidiaries, engages in the mining, beneficiation, smelting, refining, and trading of copper, cobalt, molybdenum, tungsten, niobium, phosphates, and other base and rare metals. The company provides molybdenum oxide, ferromolybdenum, molybdenum and tungsten concentrates, copper concentrate, cobalt hydroxide, ferroniobium, phosphate fertilizer, gold and silver, and other related products. It is also involved in the refining and sale of mineral products; purchase and sale of molybdenum and tungsten products; import and export of goods and technology; and hotel management, consulting, enterprise operating and management, asset management, logistics, and transportation businesses. The company has operations in China, Australia, Brazil and the Democratic Republic of the Congo, Switzerland, and internationally. China Molybdenum Co., Ltd. was incorporated in 2006 and is based in Luoyang, the People`s Republic of China.
Website: cmoc.com



Growth: Bad revenue growth rate -6.4%, there is slowdown compared to average historical growth rates 91.4%. The revenue growth dynamics is moderately stable

Profitability: LTM EBITDA margin is positive, +7.4%. On average the margin is improving unsteadily. Gross margin is low, +9.1%.

Cash Flow Generation: Dividend yield for the last twelve months 2.3%. Free cash flow yield 12.2% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 96.6% higher than minimum and 87.0% lower than maximum for the last 3 years

Key Financials (Download financials)

Ticker: 3993.HK
Share price, USD:  (+0.7%)0.9541716
year average price 0.8577  


year start price 0.6189 2023-10-16

min close price 0.4853 2023-12-14

max close price 7.3300 2024-06-07

current price 0.9542 2024-10-15
Common stocks: 21 334 073 125

Dividend Yield:  2.3%
FCF Yield LTM: 12.2%
EV / LTM EBITDA: 12.2x
EV / EBITDA annualized: 9x
Last revenue growth (y/y):  -6.4%
Last growth of EBITDA (y/y):  +56.0%
Historical revenue growth:  +91.4%
Historical growth of EBITDA:  +51.5%
EV / Sales: 0.9x
Margin (EBITDA LTM / Revenue): 7.4%
Fundamental value created in LTM:
Market Cap ($m): 20 356
Net Debt ($m): 2 597
EV (Enterprise Value): 22 953
Price to Book: 2.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2024 q2 2024 q1 2023 q4 2023 q3 2023 q2 2022 q4 2022 q3
date 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
symbol 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK
reportedCurrency CNY CNY CNY CNY CNY CNY CNY
cik 0 0 0 0 0 0 0
fillingDate 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
acceptedDate 2024-06-29 20:00:00 2024-03-30 20:00:00 2023-12-30 19:00:00 2023-09-29 20:00:00 2023-06-29 20:00:00 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2024 2024 2023 2023 2023 2022 2022
period Q2 Q1 Q4 Q3 Q2 Q4 Q3
revenue 56 697M 46 121M 54 587M 44 956M 42 443M 40 522M 40 702M
costOfRevenue 43 801M 40 222M 45 725M 39 429M 40 512M 37 764M 38 861M
grossProfit 12 896M 5 900M 8 862M 5 527M 1 931M 2 758M 1 841M
grossProfitRatio 0.227 0.128 0.162 0.123 0.045 0.068 0.045
researchAndDevelopmentExpenses 85M 52M 107M 112M 72M 72M 68M
generalAndAdministrativeExpenses -222M 749M -1 002M 1 430M -108M -832M 1 218M
sellingAndMarketingExpenses 10M 20M -100M 67M 39M 12M 25M
sellingGeneralAndAdministrativeExpenses -212M 769M -1 102M 1 497M -69M -820M 1 243M
otherExpenses -7M 15M 3M -232M 174M 1 215M -341M
operatingExpenses 1 481M 1 738M 1 761M 1 915M 1 436M 467M 970M
costAndExpenses 45 282M 41 960M 47 485M 41 344M 41 948M 38 231M 39 831M
interestIncome 406M 330M 2 841M -1 985M 1 172M 1 967M -1 243M
interestExpense 902M 955M 1 017M 1 092M 992M 868M 833M
depreciationAndAmortization 3 955M 674M 674M 361M -219M 633M 566M
ebitda 11 575M 4 459M 7 272M 3 811M 993M 2 180M 1 741M
ebitdaratio 0.204 0.097 0.133 0.085 0.023 0.054 0.043
operatingIncome 7 620M 3 526M 8 188M 3 451M 1 213M 1 547M 1 174M
operatingIncomeRatio 0.134 0.076 0.15 0.077 0.029 0.038 0.029
totalOtherIncomeExpensesNet -8M 15M -17M -41M -17M -1 143M 315M
incomeBeforeTax 7 612M 3 541M 8 172M 3 410M 1 196M 403M 1 489M
incomeBeforeTaxRatio 0.134 0.077 0.15 0.076 0.028 0.01 0.037
incomeTaxExpense 3 614M 1 209M 1 915M 1 751M 853M -562M 82M
netIncome 3 346M 2 072M 5 807M 1 740M 386M 761M 1 158M
netIncomeRatio 0.059 0.045 0.106 0.039 0.009 0.019 0.028
eps 0.17 0.1 0.26 0.08 0.018 0.036 0.054
epsdiluted 0.17 0.1 0.26 0.08 0.018 0.035 0.054
weightedAverageShsOut 21 373M 20 717M 22 547M 21 373M 21 373M 21 334M 21 334M
weightedAverageShsOutDil 21 373M 20 717M 22 547M 21 678M 21 473M 21 591M 21 591M
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Balance Sheet Statement

Property 2024 q2 2024 q1 2023 q4 2023 q3 2023 q2 2022 q4 2022 q3
date 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
symbol 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK
reportedCurrency CNY CNY CNY CNY CNY CNY CNY
cik 0 0 0 0 0 0 0
fillingDate 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
acceptedDate 2024-06-29 20:00:00 2024-03-30 20:00:00 2023-12-30 19:00:00 2023-09-29 20:00:00 2023-06-29 20:00:00 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2024 2024 2023 2023 2023 2022 2022
period Q2 Q1 Q4 Q3 Q2 Q4 Q3
cashAndCashEquivalents 34 913M 31 142M 30 716M 36 370M 35 276M 32 648M 38 680M
shortTermInvestments 14 389M 11 964M 8 285M 7 253M 7 356M 4 237M 7 875M
cashAndShortTermInvestments 49 302M 43 106M 39 001M 43 623M 42 632M 36 884M 46 555M
netReceivables 14 443M 10 353M 13 189M 10 979M 10 388M 10 280M 0
inventory 31 868M 30 226M 31 430M 34 873M 32 763M 32 255M 29 795M
otherCurrentAssets 65M 4 285M 28M 2 581M 2 656M 6 263M 4 558M
totalCurrentAssets 95 678M 87 970M 83 648M 92 056M 88 439M 85 682M 95 263M
propertyPlantEquipmentNet 70 645M 46 684M 47 757M 48 224M 46 977M 41 979M 37 798M
goodwill 433M 431M 430M 436M 439M 423M 431M
intangibleAssets 642M 22 602M 22 960M 24 917M 25 568M 19 448M 20 227M
goodwillAndIntangibleAssets 1 075M 23 033M 23 391M 25 353M 26 007M 19 870M 20 658M
longTermInvestments -8 702M -6 540M -2 849M -1 905M -1 863M 1 266M -2 372M
taxAssets 2 080M 2 058M 1 665M 1 799M 1 483M 1 111M 1 125M
otherNonCurrentAssets 25 104M 24 390M 19 363M 19 155M 19 477M 15 110M 18 327M
totalNonCurrentAssets 90 202M 89 625M 89 327M 92 627M 92 081M 79 337M 75 536M
otherAssets 1 1 1 1 1 -0 -0
totalAssets 185 880M 177 595M 172 975M 184 683M 180 521M 165 019M 170 799M
accountPayables 3 967M 3 488M 3 477M 3 618M 3 952M 3 957M 4 059M
shortTermDebt 36 296M 24 748M 28 724M 36 338M 28 509M 27 013M 32 921M
taxPayables 4 132M 3 189M 2 118M 1 966M 1 142M 805M 1 737M
deferredRevenue 0 18 395M 0 18 406M 18 765M 0 0
otherCurrentLiabilities 22 850M 6 925M 16 779M 785M 3 420M 19 092M 19 495M
totalCurrentLiabilities 63 112M 53 556M 48 980M 59 147M 54 646M 50 061M 56 475M
longTermDebt 17 281M 19 239M 20 999M 22 609M 25 895M 21 335M 24 781M
deferredRevenueNonCurrent 17 517M 37M 18 646M 40M 42M 46M 48M
deferredTaxLiabilitiesNonCurrent 6 316M 5 949M 5 991M 5 865M 5 997M 6 093M 6 375M
otherNonCurrentLiabilities 5 739M 24 134M 6 397M 29 988M 30 536M 25 448M 16 183M
totalNonCurrentLiabilities 46 852M 49 359M 52 032M 58 502M 62 470M 52 921M 53 163M
otherLiabilities 1 1 1 1 1 0 0
capitalLeaseObligations 357M 223M 398M 257M 259M 209M 238M
totalLiabilities 109 965M 102 914M 101 012M 117 649M 117 116M 102 982M 109 637M
preferredStock 0 0 0 0 0 0 0
commonStock 4 320M 4 320M 4 320M 4 320M 4 320M 4 320M 4 320M
retainedEarnings 26 095M 26 049M 23 978M 18 643M 16 903M 18 020M 17 480M
accumulatedOtherComprehensiveIncomeLoss 0 3 072M 2 715M 3 340M 0 0 0
othertotalStockholdersEquity 31 585M 28 535M 28 528M 28 106M 31 558M 29 359M 29 056M
totalStockholdersEquity 62 000M 61 976M 59 540M 54 409M 52 780M 51 699M 50 856M
totalEquity 75 915M 74 681M 71 962M 67 034M 63 405M 51 699M 50 856M
totalLiabilitiesAndStockholdersEquity 185 880M 177 595M 172 975M 184 683M 180 521M 165 019M 170 799M
minorityInterest 13 915M 12 704M 12 422M 12 625M 10 624M 10 339M 10 306M
totalLiabilitiesAndTotalEquity 185 880M 177 595M 172 975M 184 683M 180 521M 165 019M 170 799M
totalInvestments 5 687M 5 424M 5 436M 5 348M 5 493M 5 503M 5 503M
totalDebt 53 577M 43 987M 49 723M 58 947M 54 403M 48 347M 57 702M
netDebt 18 664M 12 844M 19 007M 22 576M 19 127M 15 700M 19 022M
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Cash Flow Statement

Property 2024 q2 2024 q1 2023 q4 2023 q3 2023 q2 2022 q4 2022 q3
date 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
symbol 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK 3993.HK
reportedCurrency CNY CNY CNY CNY CNY CNY CNY
cik 0 0 0 0 0 0 0
fillingDate 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2022-12-31 2022-09-30
acceptedDate 2024-06-29 20:00:00 2024-03-30 20:00:00 2023-12-30 19:00:00 2023-09-29 20:00:00 2023-06-29 20:00:00 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2024 2024 2023 2023 2023 2022 2022
period Q2 Q1 Q4 Q3 Q2 Q4 Q3
netIncome 0 2 072M 5 807M 1 740M 386M 761M 0
depreciationAndAmortization 0 0 2 813M -1 623M 1 623M 0 0
deferredIncomeTax 0 0 0 5 614M -5 614M 0 0
stockBasedCompensation 0 0 42M 0 28M 0 0
changeInWorkingCapital 0 0 -2 032M -5 587M 5 587M 0 0
accountsReceivables 0 0 -2 638M -6 481M 6 481M 0 0
inventory 0 0 412M 894M -894M 0 0
accountsPayables 0 0 0 0 0 0 0
otherWorkingCapital 0 0 194M -81M 0 0 0
otherNonCashItems 0 3 406M -1 188M 1 221M 2 109M -761M 0
netCashProvidedByOperatingActivities 0 5 478M 5 442M 1 338M 4 119M 761M 0
investmentsInPropertyPlantAndEquipment -2 305M -1 660M -4 098M -2 243M -3 899M -4 811M -1 950M
acquisitionsNet -5M 156M 0 266M 76M 47M 4M
purchasesOfInvestments -5 807M -3 252M 3 487M -679M -5 279M 2 725M -3 180M
salesMaturitiesOfInvestments 3 782M 2 001M -635M 589M 5 722M 2 700M 767M
otherInvestingActivites 130M -230M 217M -28M -46M -9M 55M
netCashUsedForInvestingActivites -4 053M -2 954M 31M -2 095M -3 426M 652M -4 305M
debtRepayment -4 238M -335M -10 509M -13 941M -17 622M -11 432M -13 141M
commonStockIssued 0 0 0 0 0 0 0
commonStockRepurchased 0 0 0 0 0 0 0
dividendsPaid -1 572M -856M -2 051M -2 788M -926M -1 622M -2 294M
otherFinancingActivites 914M -960M 1 766M 18 705M 20 630M 1 525M 23 899M
netCashUsedProvidedByFinancingActivities 3 133M -2 150M -10 794M 1 976M 2 082M -11 529M 8 463M
effectOfForexChangesOnCash 13M 30M 317M -179M 652M 992M 903M
netChangeInCash 4 394M 404M -5 003M 1 040M 3 427M -5 237M 7 365M
cashAtEndOfPeriod 30 918M 26 523M 26 119M 31 122M 30 082M 29 046M 34 282M
cashAtBeginningOfPeriod 26 523M 26 119M 31 122M 30 082M 26 655M 34 282M 26 917M
operatingCashFlow 0 5 478M 5 442M 1 338M 4 119M 761M 0
capitalExpenditure -2 305M -1 660M -4 098M -2 243M -3 899M -4 811M -1 950M
freeCashFlow -2 305M 3 818M 1 344M -905M 220M -4 050M -1 950M
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