Changzhou Almaden Co., Ltd. (002623.SZ)

Changzhou Almaden Co., Ltd. (002623.SZ) — VMCI valuation read

Changzhou Almaden Co., Ltd. sits at VMCI 40/100, with the Consumer Cyclical sector median at 50. That 11-point spread is the first thing to note on 002623.SZ: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 002623.SZ are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 002623.SZ: 002623.SZ trades at 26.0x earnings, 44% above the Consumer Cyclical median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Consumer Cyclical median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of 2.9x is the rate-sensitivity line to watch, anchoring the bear scenario on a measurable balance-sheet metric.

002623.SZ rose 0.8% over the trailing 7 days, with a -19.0% read on a 30-day basis.