Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥23.36, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 58% over the past three years. Annonce • Jun 30
Sino-Platinum Metals Co.,Ltd to Report First Half, 2026 Results on Aug 21, 2026 Sino-Platinum Metals Co.,Ltd announced that they will report first half, 2026 results on Aug 21, 2026 Declared Dividend • Jun 20
Dividend increased to CN¥0.25 Dividend of CN¥0.25 is 3.8% higher than last year. Ex-date: 26th June 2026 Payment date: 26th June 2026 Dividend yield will be 1.0%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥26.52, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 88% over the past three years. New Risk • Jun 11
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 8.4% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥22.50, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 57% over the past three years. Board Change • May 20
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. Vice Chairman & GM Guo Junmei is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Apr 26
Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 20, 2026 Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 20, 2026, at 09:30 China Standard Time. Location: Building A1, No. 988, Keji Road, Kunming Hi-tech Development Zone, Yunnan China Annonce • Mar 30
Sino-Platinum Metals Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Sino-Platinum Metals Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Annonce • Dec 26
Sino-Platinum Metals Co.,Ltd to Report Fiscal Year 2025 Results on Apr 22, 2026 Sino-Platinum Metals Co.,Ltd announced that they will report fiscal year 2025 results on Apr 22, 2026 Annonce • Sep 30
Sino-Platinum Metals Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Sino-Platinum Metals Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Annonce • Jun 30
Sino-Platinum Metals Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Sino-Platinum Metals Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Annonce • Apr 25
Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 15, 2025 Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 15, 2025, at 09:30 China Standard Time. Location: Building A1, No. 988, Keji Road, Kunming Hi-tech Development Zone, Yunnan China Annonce • Mar 28
Sino-Platinum Metals Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Sino-Platinum Metals Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Annonce • Dec 27
Sino-Platinum Metals Co.,Ltd to Report Fiscal Year 2024 Results on Apr 25, 2025 Sino-Platinum Metals Co.,Ltd announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.15 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.15 in 3Q 2023). Revenue: CN¥12.5b (flat on 3Q 2023). Net income: CN¥127.8m (up 14% from 3Q 2023). Profit margin: 1.0% (up from 0.9% in 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥14.65, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 28% over the past three years. Annonce • Sep 30
Sino-Platinum Metals Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Sino-Platinum Metals Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Aug 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Jun 29
Dividend of CN¥0.19 announced Shareholders will receive a dividend of CN¥0.19. Ex-date: 4th July 2024 Payment date: 4th July 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 28
Sino-Platinum Metals Co.,Ltd to Report First Half, 2024 Results on Aug 27, 2024 Sino-Platinum Metals Co.,Ltd announced that they will report first half, 2024 results on Aug 27, 2024 Board Change • Jun 09
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Vice Chairman & GM Guo Junmei is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • May 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 36% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.21 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.26 (up from CN¥0.21 in 1Q 2023). Revenue: CN¥10.4b (up 3.6% from 1Q 2023). Net income: CN¥194.7m (up 24% from 1Q 2023). Profit margin: 1.9% (up from 1.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Annonce • Apr 19
Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 10, 2024 Sino-Platinum Metals Co.,Ltd, Annual General Meeting, May 10, 2024, at 10:00 China Standard Time. Location: The Company's Meeting Room, Kunming, Yunnan China Reported Earnings • Apr 18
Full year 2023 earnings released: EPS: CN¥0.62 (vs CN¥0.69 in FY 2022) Full year 2023 results: EPS: CN¥0.62. Revenue: CN¥45.1b (up 11% from FY 2022). Net income: CN¥468.3m (up 15% from FY 2022). Profit margin: 1.0% (in line with FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Metals and Mining industry in China. Annonce • Mar 29
Sino-Platinum Metals Co.,Ltd to Report Q1, 2024 Results on Apr 27, 2024 Sino-Platinum Metals Co.,Ltd announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥13.71, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Metals and Mining industry in China. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.17 per share. Annonce • Dec 29
Sino-Platinum Metals Co.,Ltd to Report Fiscal Year 2023 Results on Apr 18, 2024 Sino-Platinum Metals Co.,Ltd announced that they will report fiscal year 2023 results on Apr 18, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.11 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.15 (up from CN¥0.11 in 3Q 2022). Revenue: CN¥12.6b (up 17% from 3Q 2022). Net income: CN¥111.8m (up 77% from 3Q 2022). Profit margin: 0.9% (up from 0.6% in 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Sep 30
Sino-Platinum Metals Co.,Ltd to Report Q3, 2023 Results on Oct 27, 2023 Sino-Platinum Metals Co.,Ltd announced that they will report Q3, 2023 results on Oct 27, 2023 New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (29% increase in shares outstanding). Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.12 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.12 in 2Q 2022). Revenue: CN¥12.4b (up 32% from 2Q 2022). Net income: CN¥131.8m (up 84% from 2Q 2022). Profit margin: 1.1% (up from 0.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 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 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 13
Full year 2022 earnings released: EPS: CN¥0.69 (vs CN¥0.68 in FY 2021) Full year 2022 results: EPS: CN¥0.69 (up from CN¥0.68 in FY 2021). Revenue: CN¥40.8b (up 12% from FY 2021). Net income: CN¥407.0m (up 5.1% from FY 2021). Profit margin: 1.0% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Xudong Sun was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.06 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.06 in 3Q 2021). Revenue: CN¥10.7b (up 12% from 3Q 2021). Net income: CN¥63.2m (up 86% from 3Q 2021). Profit margin: 0.6% (up from 0.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 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 14% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.16 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.16 in 2Q 2021). Revenue: CN¥9.40b (down 6.2% from 2Q 2021). Net income: CN¥71.5m (down 24% from 2Q 2021). Profit margin: 0.8% (down from 0.9% in 2Q 2021). Over the next year, revenue is forecast to grow 22%, compared to a 30% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.30 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.32 (up from CN¥0.30 in 1Q 2021). Revenue: CN¥8.67b (flat on 1Q 2021). Net income: CN¥190.4m (up 12% from 1Q 2021). Profit margin: 2.2% (up from 2.0% in 1Q 2021). Over the next year, revenue is forecast to grow 16%, compared to a 27% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Hailan Liu was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 16
Full year 2021 earnings released: EPS: CN¥0.68 (vs CN¥0.57 in FY 2020) Full year 2021 results: EPS: CN¥0.68 (up from CN¥0.57 in FY 2020). Revenue: CN¥36.4b (up 26% from FY 2020). Net income: CN¥387.1m (up 19% from FY 2020). Profit margin: 1.1% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.12 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥9.53b (up 19% from 3Q 2020). Net income: CN¥33.9m (down 53% from 3Q 2020). Profit margin: 0.4% (down from 0.9% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.15 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥9.00b (up 52% from 2Q 2020). Net income: CN¥136.7m (up 67% from 2Q 2020). Profit margin: 1.5% (up from 1.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥29.96, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 19x in the Metals and Mining industry in China. Total returns to shareholders of 285% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥30.30, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 143% over the past three years. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.75 (vs CN¥0.56 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥28.9b (up 36% from FY 2019). Net income: CN¥326.1m (up 40% from FY 2019). Profit margin: 1.1% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 31
New 90-day low: CN¥21.63 The company is down 3.0% from its price of CN¥22.28 on 03 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.50 per share. Is New 90 Day High Low • Dec 25
New 90-day high: CN¥27.32 The company is up 28% from its price of CN¥21.34 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.53 per share. Is New 90 Day High Low • Nov 19
New 90-day high: CN¥24.99 The company is up 4.0% from its price of CN¥23.95 on 21 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.48 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥363.8m, up 86% from the prior year. Total revenue was CN¥23.6b over the last 12 months, up 16% from the prior year. 
