New Risk • Jun 11
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: 0.4% 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. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥20.77, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 35x in the Metals and Mining industry in China. Total returns to shareholders of 119% over the past three years. Buy Or Sell Opportunity • May 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to CN¥27.53. The fair value is estimated to be CN¥34.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 77%. Ankündigung • Apr 29
Tibet Huayu Mining Co., Ltd., Annual General Meeting, May 20, 2026 Tibet Huayu Mining Co., Ltd., Annual General Meeting, May 20, 2026, at 13:00 China Standard Time. Location: The Company's Meeting Room, Lhasa, Xizang China Ankündigung • Mar 30
Tibet Huayu Mining Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Tibet Huayu Mining Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Ankündigung • Dec 26
Tibet Huayu Mining Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Tibet Huayu Mining Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Ankündigung • Sep 30
Tibet Huayu Mining Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Tibet Huayu Mining Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Ankündigung • Jun 30
Tibet Huayu Mining Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Tibet Huayu Mining Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Ankündigung • Apr 29
Tibet Huayu Mining Co., Ltd., Annual General Meeting, May 20, 2025 Tibet Huayu Mining Co., Ltd., Annual General Meeting, May 20, 2025, at 13:00 China Standard Time. Ankündigung • Mar 28
Tibet Huayu Mining Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Tibet Huayu Mining Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Ankündigung • Dec 27
Tibet Huayu Mining Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Tibet Huayu Mining Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.053 (vs CN¥0.056 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.053. Revenue: CN¥333.2m (up 31% from 3Q 2023). Net income: CN¥43.8m (up 3.5% from 3Q 2023). Profit margin: 13% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Ankündigung • Sep 30
Tibet Huayu Mining Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Tibet Huayu Mining Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.09 (vs CN¥0.083 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.09 (up from CN¥0.083 in 2Q 2023). Revenue: CN¥345.5m (up 17% from 2Q 2023). Net income: CN¥71.0m (up 6.0% from 2Q 2023). Profit margin: 21% (down from 23% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Ankündigung • Jun 29
Tibet Huayu Mining Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Tibet Huayu Mining Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 New Risk • Jun 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Ankündigung • Jun 10
East Africa Metals Inc. and Tibet Huayu Mining Co. Ltd. Advances Mine Development Through the Final Permitting with Community Engagement East Africa Metals Inc. and development partner, Tibet Huayu Mining Co. Ltd. announced that the progress of mine development plan, on the heels of receiving formal notification from the Ethiopian State Minister of Mines of the approval for extensions to the mine development period for the Mato Bula, Da Tambuk and Terakimti projects located in the Tigray region of the Federal Democratic Republic of Ethiopia. The Mato Bula and Da Tambuk mining licenses, collectively referred to as the Adyabo Project, are held by Tigray Resources Incorporated PLC ("TRI"), which is owned by Tibet Huayu and East Africa, 70% and 30% respectively. TRI has conducted community meetings in Shire to inform local stakeholders about the details of the mine development plan and to gain their support for the program. These meetings included members of the federal, regional and local government as well as community members with interest in the project development. TRI's presentation was received favourably and local experts, Beles Engineering PLC ("Beles"), were commissioned to evaluate and assess all of TRI's obligations to the local population affected by construction project and to work out adequate compensation, which will be fully borne by Tibet Huayu. Also, TRI is working with the local government administration to finalize compensation for the access road so construction can begin as soon as possible. The Adyabo Project Mato Bula and Da Tambuk deposits are high sulphidation gold rich VMS. This submarine porphyry-related system is located in the southern part of the Arabian-Nubian Shield (ANS) in the Tigray region of northern Ethiopia. Mining licences have been received that cover both deposits on Adyabo, Mato Bula Au-Cu-Ag and Da Tambuk Au. Tibet Huayu Mining Co. Limited is responsible for 100% financing of both Adyabo's Mato Bula and Da Tambuk mine construction costs resulting in a 70% THM and 30% EAM ownership. In April 2018, Preliminary Economic Assessment (PEA) results were released on the Mato Bula Gold Copper and Da Tambuk Gold Projects, indicating strong project economics. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). New Risk • May 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 10% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Ankündigung • Apr 29
Tibet Huayu Mining Co., Ltd., Annual General Meeting, Jun 28, 2024 Tibet Huayu Mining Co., Ltd., Annual General Meeting, Jun 28, 2024, at 13:00 China Standard Time. Location: The Company's Meeting Room, Lhasa, Xizang China Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.19 in FY 2022) Full year 2023 results: EPS: CN¥0.09 (down from CN¥0.19 in FY 2022). Revenue: CN¥871.1m (up 54% from FY 2022). Net income: CN¥73.9m (down 51% from FY 2022). Profit margin: 8.5% (down from 27% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥9.33, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 52% over the past three years. Ankündigung • Mar 30
Tibet Huayu Mining Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Tibet Huayu Mining Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥7.83, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Metals and Mining industry in China. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.30, the stock trades at a trailing P/E ratio of 60.8x. Average trailing P/E is 31x in the Metals and Mining industry in China. Total returns to shareholders of 33% over the past three years. Ankündigung • Dec 29
Tibet Huayu Mining Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Tibet Huayu Mining Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.12 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.056 (down from CN¥0.12 in 3Q 2022). Revenue: CN¥254.2m (down 15% from 3Q 2022). Net income: CN¥42.3m (down 54% from 3Q 2022). Profit margin: 17% (down from 31% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Ankündigung • Sep 30
Tibet Huayu Mining Co., Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Tibet Huayu Mining Co., Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.067 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.19 (up from CN¥0.067 in 2Q 2022). Revenue: CN¥296.2m (up 80% from 2Q 2022). Net income: CN¥67.0m (up 28% from 2Q 2022). Profit margin: 23% (down from 32% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 77% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Jun 28
Tibet Huayu Mining Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Tibet Huayu Mining Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.028 (vs CN¥0.007 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.028 (up from CN¥0.007 loss in 1Q 2022). Revenue: CN¥153.1m (up 73% from 1Q 2022). Net income: CN¥15.5m (up CN¥19.3m from 1Q 2022). Profit margin: 10% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 74% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥15.83, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 33x in the Metals and Mining industry in China. Total returns to shareholders of 104% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.15 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.16 (up from CN¥0.15 in 3Q 2021). Revenue: CN¥299.6m (down 38% from 3Q 2021). Net income: CN¥92.6m (up 14% from 3Q 2021). Profit margin: 31% (up from 17% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥14.12, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 29x in the Metals and Mining industry in China. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥16.33, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 26x in the Metals and Mining industry in China. Total returns to shareholders of 72% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings released: CN¥0.007 loss per share (vs CN¥0.049 profit in 1Q 2021) First quarter 2022 results: CN¥0.007 loss per share (down from CN¥0.049 profit in 1Q 2021). Revenue: CN¥88.6m (down 68% from 1Q 2021). Net loss: CN¥3.88m (down 114% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.60, the stock trades at a trailing P/E ratio of 59.3x. Average trailing P/E is 27x in the Metals and Mining industry in China. Total returns to shareholders of 45% over the past three years. Executive Departure • Jun 02
Chairman of the Board Jian Jun Liu has left the company On the 26th of May, Jian Jun Liu's tenure in the role of Chairman of the Board ended. We don't have any record of a personal shareholding under Jian Jun's name. Jian Jun is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥6.12, the stock trades at a trailing P/E ratio of 33.7x. Average trailing P/E is 27x in the Metals and Mining industry in China. Total loss to shareholders of 63% over the past three years. Reported Earnings • Apr 30
Full year 2020 earnings released: EPS CN¥0.14 (vs CN¥0.24 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥2.38b (up 57% from FY 2019). Net income: CN¥72.4m (down 42% from FY 2019). Profit margin: 3.0% (down from 8.2% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥8.84, the stock is trading at a trailing P/E ratio of 39.8x, down from the previous P/E ratio of 48.6x. This compares to an average P/E of 32x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 50%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥9.37, the stock is trading at a trailing P/E ratio of 42.1x, up from the previous P/E ratio of 35.7x. This compares to an average P/E of 34x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 47%. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥8.20 The company is down 13% from its price of CN¥9.38 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥8.78, the stock is trading at a trailing P/E ratio of 39.5x, down from the previous P/E ratio of 47.8x. This compares to an average P/E of 30x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 54%. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥8.78 The company is down 18% from its price of CN¥10.66 on 15 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 23% share price gain to CN¥11.51, the stock is trading at a trailing P/E ratio of 51.2x, up from the previous P/E ratio of 41.7x. This compares to an average P/E of 32x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 46%. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS CN¥0.07 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CN¥428.2m (up 1.5% from 3Q 2019). Net income: CN¥38.4m (up 7.2% from 3Q 2019). Profit margin: 9.0% (up from 8.5% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 21
New 90-day low: CN¥10.29 The company is down 20% from its price of CN¥12.91 on 23 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 5.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day low: CN¥10.78 The company is down 4.0% from its price of CN¥11.23 on 07 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also down 4.0% over the same period. 
