Announcement • 21h
Tiangong International Company Limited to Report First Half, 2026 Results on Aug 28, 2026 Tiangong International Company Limited announced that they will report first half, 2026 results on Aug 28, 2026 Upcoming Dividend • Jun 19
Upcoming dividend of HK$0.029 per share Eligible shareholders must have bought the stock before 26 June 2026. Payment date: 29 July 2026. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Hong Kong dividend payers (7.3%). Lower than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$3.95, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 117% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.73 per share. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$3.90, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.76 per share. New Risk • Apr 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Major Estimate Revision • Apr 08
Consensus EPS estimates increase by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥6.20b to CN¥6.44b. EPS estimate increased from CN¥0.225 to CN¥0.28 per share. Net income forecast to grow 55% next year vs 68% growth forecast for Metals and Mining industry in Hong Kong. Consensus price target of HK$5.29 unchanged from last update. Share price rose 2.4% to HK$3.40 over the past week. Announcement • Apr 02
Tiangong International Company Limited Recommends Final Dividend for the Year Ended 31 December 2025, Payable on or Before 29 July 2026 The Board of Tiangong International Company Limited has resolved on 30 March 2026 to recommend the payment of a final dividend of RMB 0.0253 per share for the year ended 31 December 2025 (2024: RMB 0.0263) to shareholders of the Company whose names appear on the register of members of the Company on 30 June 2026. The register of members will be closed from 30 June 2026 to 3 July 2026, both days inclusive, and the proposed final dividend is expected to be paid on or before 29 July 2026. The payment of dividends shall be subject to the approval of the shareholders of the Company at the Annual General Meeting expected to be held on 16 June 2026. In order to qualify for the proposed dividend, shareholders of the Company should ensure that all transfer documents, accompanied by the relevant share certificates, are lodged with the Company's branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, for registration by no later than 4:30 p.m. on 29 June 2026. Declared Dividend • Apr 01
First half dividend of CN¥0.025 announced Shareholders will receive a dividend of CN¥0.025. Ex-date: 26th June 2026 Payment date: 29th July 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.0%. Sustainability & Growth The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 123% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 31
Tiangong International Company Limited, Annual General Meeting, Jun 16, 2026 Tiangong International Company Limited, Annual General Meeting, Jun 16, 2026. Announcement • Mar 18
Tiangong International Company Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Tiangong International Company Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$3.82, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 38% over the past three years. Reported Earnings • Sep 28
First half 2025 earnings released: EPS: CN¥0.075 (vs CN¥0.067 in 1H 2024) First half 2025 results: EPS: CN¥0.075 (up from CN¥0.067 in 1H 2024). Revenue: CN¥2.34b (down 7.1% from 1H 2024). Net income: CN¥203.6m (up 10% from 1H 2024). Profit margin: 8.7% (up from 7.3% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 05
Upcoming dividend of HK$0.029 per share Eligible shareholders must have bought the stock before 12 September 2025. Payment date: 23 October 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (6.8%). In line with average of industry peers (2.2%). Major Estimate Revision • Sep 04
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥6.30b to CN¥5.23b. EPS estimate fell from CN¥0.18 to CN¥0.13 per share. Net income forecast to grow 20% next year vs 7.2% growth forecast for Metals and Mining industry in Hong Kong. Consensus price target up from HK$2.51 to HK$3.01. Share price fell 5.7% to HK$2.46 over the past week. Reported Earnings • Aug 27
First half 2025 earnings released: EPS: CN¥0.075 (vs CN¥0.067 in 1H 2024) First half 2025 results: EPS: CN¥0.075 (up from CN¥0.067 in 1H 2024). Revenue: CN¥2.34b (down 7.1% from 1H 2024). Net income: CN¥203.6m (up 10% from 1H 2024). Profit margin: 8.7% (up from 7.3% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$2.55, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 2.4% over the past three years. Announcement • Aug 15
Tiangong International Company Limited to Report First Half, 2025 Results on Aug 25, 2025 Tiangong International Company Limited announced that they will report first half, 2025 results on Aug 25, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of CN¥0.026 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (4.2%). Announcement • Jun 19
Tiangong International Company Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable on 11 July 2025 Tiangong International Company Limited announced that at its AGM held on June 19, 2025, the shareholders approved the proposed final dividend of RMB 0.0263 per Share with par value of USD 0.0025 each for the year ended 31 December 2024 to all shareholders of the Company whose names appeared on the register of members of the Company as at the close of business on 30 June 2025, the board of directors of the Company hereby announces that:- for the payment of dividend in HKD, the average mid-exchange rate of RMB to HKD as quoted by the People's Bank of China for the five business days prior to the date of the AGM (which was HKD 100: RMB 91.4402) was adopted by the board of directors of the Company. Accordingly, the final dividend for each Share with par value of USD 0.0025 would be HKD 0.0288; and the payment date will be on 11 July 2025. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.94, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 19% over the past three years. Buy Or Sell Opportunity • May 13
Now 29% undervalued Over the last 90 days, the stock has risen 20% to HK$2.08. The fair value is estimated to be HK$2.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has declined by 27%. Revenue is forecast to grow by 31% in a year. Earnings are forecast to grow by 35% in the next year. Announcement • Apr 30
Tiangong International Company Limited has completed a Follow-on Equity Offering in the amount of CNY 236.4 million. Tiangong International Company Limited has completed a Follow-on Equity Offering in the amount of CNY 236.4 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 9,000,000
Price\Range: CNY 3.94
Discount Per Security: CNY 0.325759
Security Name: Shares
Security Type: Common Stock
Securities Offered: 51,000,000
Price\Range: CNY 3.94
Discount Per Security: CNY 0.325759 Buy Or Sell Opportunity • Apr 28
Now 20% undervalued Over the last 90 days, the stock has risen 10% to HK$2.05. The fair value is estimated to be HK$2.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has declined by 27%. Revenue is forecast to grow by 31% in a year. Earnings are forecast to grow by 35% in the next year. New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings have declined by 7.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. New Risk • Apr 07
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Apr 02
Dividend of CN¥0.026 announced Shareholders will receive a dividend of CN¥0.026. Ex-date: 27th June 2025 Payment date: 11th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 2.0%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 17
Tiangong International Company Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Tiangong International Company Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$2.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.80 per share. Recent Insider Transactions • Oct 23
Key Executive recently bought HK$933k worth of stock On the 18th of October, Zefeng Zhu bought around 500k shares on-market at roughly HK$1.87 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$3.2m. Zefeng has been a buyer over the last 12 months, purchasing a net total of HK$11m worth in shares. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.01, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.95 per share. Recent Insider Transactions • Sep 10
Executive Chairman recently bought HK$821k worth of stock On the 5th of September, Xiaokun Zhu bought around 500k shares on-market at roughly HK$1.64 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Xiaokun's only on-market trade for the last 12 months. Upcoming Dividend • Sep 05
Upcoming dividend of CN¥0.02 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 16 October 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Hong Kong dividend payers (8.4%). Lower than average of industry peers (3.7%). Reported Earnings • Sep 02
First half 2024 earnings released: EPS: CN¥0.067 (vs CN¥0.079 in 1H 2023) First half 2024 results: EPS: CN¥0.067 (down from CN¥0.079 in 1H 2023). Revenue: CN¥2.52b (up 1.0% from 1H 2023). Net income: CN¥184.4m (down 16% from 1H 2023). Profit margin: 7.3% (down from 8.8% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Announcement • Aug 30
Tiangong International Company Limited Announces Interim (Semi-annual) Dividend for the Six Months Ended 30 June 2024 Tiangong International Company Limited announced interim (semi-annual) dividend of RMB 0.0203 per share for the six months ended 30 June 2024. Ex-dividend date is 12 September 2024. Record date is 13 September 2024. Payment date is 16 October 2024. Announcement • Aug 20
Tiangong International Company Limited to Report First Half, 2024 Results on Aug 30, 2024 Tiangong International Company Limited announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 19
Tiangong International Company Limited announces Final Dividend for the Financial Year End 31 December 2023, Payable on July 18, 2024 Tiangong International Company Limited announced final dividend of RMB 0.04 per share for the financial year end 31 December 2023. Ex-dividend date 27 June 2024, Record date 28 June 2024 and Payment date 18 July 2024. Reported Earnings • Apr 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.13 (down from CN¥0.18 in FY 2022). Revenue: CN¥5.16b (up 1.9% from FY 2022). Net income: CN¥370.2m (down 27% from FY 2022). Profit margin: 7.2% (down from 9.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Price Target Changed • Apr 26
Price target decreased by 23% to HK$2.77 Down from HK$3.62, the current price target is an average from 2 analysts. New target price is 75% above last closing price of HK$1.58. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥0.23 for next year compared to CN¥0.13 last year. Board Change • Apr 26
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Xuesong Wang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 26
Tiangong International Company Limited Announces Resignation of Gao Xiang as Independent Non-Executive Director Tiangong International Company Limited announced Mr. Gao Xiang has tendered his resignation as an independent non-executive director of theCompany. Price Target Changed • Mar 28
Price target decreased by 28% to HK$2.77 Down from HK$3.85, the current price target is an average from 2 analysts. New target price is 68% above last closing price of HK$1.65. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥0.23 for next year compared to CN¥0.13 last year. Announcement • Mar 26
Tiangong International Company Limited, Annual General Meeting, Jun 19, 2024 Tiangong International Company Limited, Annual General Meeting, Jun 19, 2024. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.13 (down from CN¥0.18 in FY 2022). Revenue: CN¥5.16b (up 1.9% from FY 2022). Net income: CN¥370.2m (down 27% from FY 2022). Profit margin: 7.2% (down from 9.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.44, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 57% over the past three years. Announcement • Mar 14
Tiangong International Company Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 Tiangong International Company Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 Major Estimate Revision • Sep 22
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥6.52b to CN¥6.11b. EPS estimate also fell from CN¥0.26 per share to CN¥0.225 per share. Net income forecast to grow 82% next year vs 98% growth forecast for Metals and Mining industry in Hong Kong. Consensus price target down from HK$3.85 to HK$3.62. Share price fell 4.3% to HK$2.47 over the past week. Reported Earnings • Aug 28
First half 2023 earnings released: EPS: CN¥0.079 (vs CN¥0.11 in 1H 2022) First half 2023 results: EPS: CN¥0.079 (down from CN¥0.11 in 1H 2022). Revenue: CN¥2.50b (down 6.5% from 1H 2022). Net income: CN¥218.7m (down 26% from 1H 2022). Profit margin: 8.8% (down from 11% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Announcement • Aug 16
Tiangong International Company Limited to Report First Half, 2023 Results on Aug 25, 2023 Tiangong International Company Limited announced that they will report first half, 2023 results on Aug 25, 2023 Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.34, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 6.6% over the past three years. Upcoming Dividend • Jun 19
Upcoming dividend of HK$0.04 per share at 2.0% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (3.0%). Reported Earnings • Mar 27
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.18 (down from CN¥0.24 in FY 2021). Revenue: CN¥5.07b (down 12% from FY 2021). Net income: CN¥503.5m (down 24% from FY 2021). Profit margin: 9.9% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 27%. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$2.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 19% share price gain to HK$3.22, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 19% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Xuesong Wang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 20% share price gain to HK$2.62, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Metals and Mining industry in Hong Kong. Negligible returns to shareholders over past three years. Reported Earnings • Oct 01
First half 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 1H 2021) First half 2022 results: EPS: CN¥0.11. Revenue: CN¥2.67b (up 2.0% from 1H 2021). Net income: CN¥295.2m (up 1.6% from 1H 2021). Profit margin: 11% (in line with 1H 2021). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Hong Kong. Recent Insider Transactions • Sep 27
CEO & Chief Investment Officer recently bought HK$1.1m worth of stock On the 22nd of September, Zefeng Zhu bought around 500k shares on-market at roughly HK$2.18 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Zefeng has been a buyer over the last 12 months, purchasing a net total of HK$29m worth in shares. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥6.79b to CN¥6.26b. EPS estimate also fell from CN¥0.34 per share to CN¥0.28 per share. Net income forecast to grow 29% next year vs 12% growth forecast for Metals and Mining industry in Hong Kong. Consensus price target down from HK$5.33 to HK$4.64. Share price fell 7.4% to HK$2.51 over the past week. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 1H 2021) First half 2022 results: EPS: CN¥0.11. Revenue: CN¥2.67b (up 2.0% from 1H 2021). Net income: CN¥295.2m (up 1.6% from 1H 2021). Profit margin: 11% (in line with 1H 2021). Over the next year, revenue is forecast to grow 14%, compared to a 2.4% growth forecast for the Metals and Mining industry in Hong Kong. Upcoming Dividend • Jun 17
Upcoming dividend of HK$0.07 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (4.4%). Price Target Changed • Apr 27
Price target decreased to HK$5.33 Down from HK$6.30, the current price target is an average from 3 analysts. New target price is 111% above last closing price of HK$2.53. Stock is down 46% over the past year. The company is forecast to post earnings per share of CN¥0.32 for next year compared to CN¥0.035 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Xuesong Wang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Apr 16
CEO & Chief Investment Officer recently bought HK$3.1m worth of stock On the 13th of April, Zefeng Zhu bought around 1m shares on-market at roughly HK$3.06 per share. This was the largest purchase by an insider in the last 3 months. Zefeng has been a buyer over the last 12 months, purchasing a net total of HK$44m worth in shares. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥0.24 (up from CN¥0.21 in FY 2020). Revenue: CN¥5.74b (up 10.0% from FY 2020). Net income: CN¥664.4m (up 24% from FY 2020). Profit margin: 12% (up from 10% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 14%, compared to a 9.1% growth forecast for the mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 
