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Sino-Platinum Metals Co Ltd (600459) Fair Value & Analysis

Basic Materials · CN · Market cap 17.3B CNY (≈ $2.6B) · ISIN CNE000001DY8

What is Sino-Platinum Metals Co Ltd really worth?

SP Sino-Platinum Metals Co Ltd 600459 · SHG
Price¥20.06
Fair Value¥13.23
Upside−34.1%
Quality39/100

Below-average quality, and trading another 52% above our fair value of ¥13.23.

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Risks

!Expensive Growth (revenue 5y +14.0 %/yr)
!Thin margins · 1.2% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (7/13)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 27 out of 100

For context

·1.35% dividend yield
Evidence: Medium Range ¥9.42 – ¥16.53

Fair value as of: Aug 21, 2026

From 15 valuation models · updated 15 days ago

Share price −3.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥16.53). 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.

Price vs Fair Value (5 years)

¥29.17 ¥11.41 Fair Value ¥13.23 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ¥11.41 – ¥29.17 · fair‑value band ¥9.42 – ¥16.53 · the ¥20.06 price screens above the ¥13.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Sino-Platinum Metals Co Ltd (600459) currently trades at ¥20.06, while our model-based Fair Value estimate is ¥13.23, implying the stock looks roughly 51.6% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥23.23 per share, and 3 of the 15 models we run sit above the ¥20.06 price. Bear case: the Asset-Based group reads lowest at ¥6.21, and 12 of the 15 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Sino-Platinum Metals Co Ltd generated revenue of 55.6B CNY at a net margin of 1.2%. Revenue declined 0.8% year over year. It earns a return on equity of 8.9%. Net debt stands at 2.3B CNY. Fundamentals as of Aug 21, 2026

Our scenario range runs from ¥9.42 (bear case) to ¥16.53 (bull case); at ¥20.06, 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 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −50% fair-value upside, at −34%, 600459 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.4009 per share, which is 3.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
Residual Income best evidence ¥7.81 ¥8.43 ¥10.41 76
EPV ¥12.97 ¥14.60 ¥16.03 74
Owner Earnings ¥10.14 ¥19.05 ¥37.76 72
All 15 models by family
DCF Models
Owner Earnings ¥10.14 ¥19.05 ¥37.76 72
Earnings-Based
Graham-Dodd ¥5.29 ¥36.90 ¥51.78 63
Lynch FV ¥13.71 ¥19.58 ¥25.46 61
PEG = 1.0 ¥13.71 ¥19.58 ¥25.46 57
EPV ¥12.97 ¥14.60 ¥16.03 74
Multiples
P/E Multiple ¥9.92 ¥13.23 ¥16.53 63
P/S Multiple ¥9.92 ¥13.23 ¥16.53 58
P/B Multiple ¥9.92 ¥13.23 ¥16.53 55
EV/EBIT ¥15.26 ¥19.30 ¥23.34 66
EV/EBITDA ¥13.24 ¥16.60 ¥19.96 67
EV/Revenue ¥13.65 ¥18.14 ¥22.64 54
Asset-Based
NCAV (Graham) ¥4.64 ¥6.21 ¥9.28 54
Economic Profit
Residual Income best evidence ¥7.81 ¥8.43 ¥10.41 76
ROIC Compounder ¥15.87 ¥22.45 ¥26.85 72
Growth Earnings
Growth-Adj P/E ¥16.26 ¥23.23 ¥30.20 67

Widest divergence: Growth Earnings (¥23.23) versus Asset-Based (¥6.21). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 23.3
P/S ratio 0.27 P/E × margin
EPS (TTM) ¥0.8600 price ÷ EPS = P/E 23.3
Dividend yield 1.3% payout 31.4%
Net margin 1.2% FY2025
Return on equity 8.9% TTM
More key figures
Profitability
Return on assets (EBIT) 4.6% avg 5y
Operating margin 2.5% TTM
Growth
Revenue (TTM) 55.6B CNY TTM
Revenue growth (YoY) −0.8% 3y avg +11.0%
EPS growth (YoY) +7.4%
Balance sheet & cash flow
Free cash flow −2.4B CNY FY2025
Net debt 2.3B CNY FY2025

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 39 · Market factors (momentum, volatility) 40

Profitability 41
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 35
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Sino-Platinum Metals Co.,Ltd engages in the precious metal industrial materials manufacturing industry in China. It offers precious metals, such as gold, silver, as well as platinum group metals, including platinum, palladium, rhodium, iridium, ruthenium, and osmium; precious metal catalytic materials used in petrochemical, pharmaceutical synthesis, fine …

Full company description

Sino-Platinum Metals Co.,Ltd engages in the precious metal industrial materials manufacturing industry in China. It offers precious metals, such as gold, silver, as well as platinum group metals, including platinum, palladium, rhodium, iridium, ruthenium, and osmium; precious metal catalytic materials used in petrochemical, pharmaceutical synthesis, fine chemicals, nitroammonia fertilizer, automobile pollution control, and other fields; and precious metal chemical materials for making high-purity materials, industrial catalytic materials, environmental governance materials, and surface functional materials. The company also provides precious metal special functional materials comprising electrical contact materials, brazing materials, temperature measurement materials, composite materials, catalytic mesh materials, precision alloy materials, bonding materials, and evaporation materials; and precious metal information functional materials consisting of conductor paste, resistor paste, hole filling paste, and multi-layer wiring paste. In addition, it engages in import and export of goods and technology; mining and selection, processing, sales, warehousing and leasing services; precious metal supply services; composition analysis, physical property testing and analytical testing technology consulting; and development of raw materials, products, ores, wastes, and metallurgical materials of precious metals and non-ferrous metals. The company serves aviation, aerospace, electronics, energy, chemical, petroleum, automobile, biomedicine, environmental protection, and other industries. Sino-Platinum Metals Co.,Ltd was incorporated in 2000 and is based in Kunming, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sino-Platinum Metals Co Ltd reported revenue of 55.7B CNY in FY2025 versus 37.9B CNY in FY2021, a compound +10.1%/yr. Reported net income was 641M CNY in FY2025, compounding +17.9%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
55.7B CNY
Latest YoY
+17.2%
Avg. revenue growth/yr (3Y) 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.
+11.0%
Avg. revenue growth/yr (5Y) 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.
+14.0%
Avg. revenue growth/yr (25Y) 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.
+25.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+9.2% (7.9 + 1.3)
Revenue +10.1%/yr
FY21 37.9B CNY
FY22 40.8B CNY
FY23 45.1B CNY
FY24 47.5B CNY
FY25 55.7B CNY
Net income +17.9%/yr
FY21 331M CNY
FY22 407M CNY
FY23 468M CNY
FY24 579M CNY
FY25 641M CNY
Character of growth · EPS growth decomposed (2013-2024) +14.4 % p.a.
Revenue per share +16.9 %

of which total revenue +23.1 % · buybacks/dilution −5.0 %

EBIT margin +2.1 %
Tax rate −0.4 %
Residual (interest, one-offs) −3.8 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

600459 screens 52% overvalued. Compare with PT Amman Mineral Internasional Tbk →

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Cite: Fair Value Calculator (2026). "Sino-Platinum Metals Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600459

Peer Group

Other Precious Metals & Mining · 103 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 · Above median
Fair Value upside −34% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 1% · Above median
Operating margin (TTM) 3% · Above median
Revenue growth −1% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Other Precious Metals & Mining median · lower = cheaper

P/E (TTM) 23.3× · Pricier than median
P/B 2.27× · Pricier than median
P/S (TTM) 0.31× · Cheaper than 75% of peers
EV/EBITDA 13.4× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 94
PAST36 · sector 0
HEALTH98 · sector 99
DIVIDEND27 · sector 48

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

Similar stocks

10 more Other Precious Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
PT Amman Mineral Internasional Tbk AMMN 4,480 IDR 1,021 IDR −77%
Hecla Mining Company HL $21.43 $8.14 −62%
Compañía de Minas Buenaventura S.A. BVN $35.12 $29.53 −16%
Sibanye Stillwater Limited SBSW $11.85 $19.35 +63%
China Gold International Resources Corp CGG C$46.69 C$25.63 −45%
Artemis Gold Inc ARTG C$43.62 C$21.85 −50%
Triple Flag Precious Metals Corp TFPM $32.25 $16.03 −50%
PT Merdeka Battery Materials Tbk. MBMA 545.00 IDR 82.43 IDR −85%
Perpetua Resources Corp PPTA C$34.90 C$5.80 −83%
Zhaojin International Gold Co 000506 ¥19.06 ¥2.84 −85%

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Frequently asked questions

Is Sino-Platinum Metals Co Ltd (600459) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ¥13.23 versus a price of ¥20.06, about −34% upside (overvalued).
What is the fair value of 600459?
Our model-based fair value for Sino-Platinum Metals Co Ltd is ¥13.23 (as of Aug 21, 2026), built from audited fundamentals. The current price: ¥20.06.
What is the quality score of 600459?
Sino-Platinum Metals Co Ltd 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 Sino-Platinum Metals Co Ltd (600459)?
Sino-Platinum Metals Co Ltd reported trailing-twelve-month revenue of about 55.6B CNY (latest available figure, as of Aug 21, 2026).
What is the net profit margin of 600459?
The net profit margin of Sino-Platinum Metals Co Ltd is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.
Does Sino-Platinum Metals Co Ltd pay a dividend?
Sino-Platinum Metals Co Ltd currently shows a dividend yield of about 1.35% relative to its recent price (as of Aug 21, 2026).
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