Hong Kong Materials Undervalued over 20% based on DCF

Zijin Gold International

Market Cap: HK$429.0b

An investment holding company, engages in the exploration, mining, processing, smelting, refining, and sale of gold and other non-ferrous metals.

Jiangxi Copper

Market Cap: HK$162.4b

Engages in mining, beneficiation, smelting, and processing of copper and gold in Chinese Mainland, China, Hong Kong, and internationally.

MMG

Market Cap: HK$119.8b

An investment holding company, engages in the exploration, development, and mining of mineral properties.

China Nonferrous Mining

Market Cap: HK$59.8b

An investment holding company, engages in the exploration, mining, ore processing, leaching, smelting, and sale of copper and cobalt in Zambia and the Democratic Republic of Congo.

Lygend Resources & Technology

Market Cap: HK$29.3b

Engages in the production, smelting, and trading of nickel products in Mainland China and internationally.

China XLX Fertiliser

Market Cap: HK$15.0b

An investment holding company, engages in the development, manufacture, and sale of urea primarily in Mainland China and internationally.

Hung Hing Printing Group

Market Cap: HK$667.1m

An investment holding company, engages in book and package printing, consumer product packaging, corrugated box, and paper trading businesses in the People’s Republic of China, the United States, Hong Kong, the United Kingdom, and internationally.

Ko Yo Chemical (Group)

Market Cap: HK$351.4m

An investment holding company, engages in the research and development, manufacture, marketing, and distribution of chemical products and chemical fertilizers in the People’s Republic of China.

Huasheng International Holding

Market Cap: HK$136.8m

An investment holding company, engages in the production and sale of ready-mixed commercial concrete in the People’s Republic of China.