CGN Mining (VBO) 주식 개요CGN 마이닝 컴퍼니 리미티드는 천연 우라늄 자원을 원자력 발전소에 공급하는 개발 및 거래 사업을 하고 있습니다. 자세히 보기VBO 펀더멘털 분석스노우플레이크 점수가치 평가0/6미래 성장4/6과거 실적2/6재무 건전성3/6배당0/6강점수익은 매년 32.48% 증가할 것으로 예상됩니다.위험 분석높은 수준의 비현금 수입이자 지급액이 수익으로 잘 충당되지 않음지난 3개월 동안 주가 변동성이 German 시장과 비교해 높았습니다.모든 위험 점검 보기 Community Fair ValuesCGN Mining Company Limited 경쟁사EnviTec BiogasSymbol: XTRA:ETGMarket cap: €365.3mFriedrich Vorwerk GroupSymbol: XTRA:VH2Market cap: €1.7bDeutsche RohstoffSymbol: XTRA:DR0Market cap: €440.7mCentrus EnergySymbol: NYSE:LEUMarket cap: US$4.6b가격 이력 및 성과CGN Mining 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가HK$0.4252주 최고가HK$0.5752주 최저가HK$0.20베타0.881개월 변동-4.09%3개월 변동-4.52%1년 변동n/a3년 변동n/a5년 변동n/aIPO 이후 변동298.11%최근 뉴스 및 업데이트Declared Dividend • Mar 30Dividend of HK$0.014 announcedShareholders will receive a dividend of HK$0.014. Ex-date: 23rd June 2026 Payment date: 30th July 2026 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%.Reported Earnings • Mar 27Full year 2025 earnings released: EPS: HK$0.06 (vs HK$0.069 in FY 2024)Full year 2025 results: EPS: HK$0.06 (down from HK$0.069 in FY 2024). Revenue: HK$6.87b (down 20% from FY 2024). Net income: HK$452.8m (down 14% from FY 2024). Profit margin: 6.6% (up from 6.1% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings.공지 • Mar 27CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026.공지 • Mar 16CGN Mining Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026CGN Mining Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026Board Change • Mar 01High number of new and inexperienced directorsThere 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. Independent Non-Executive Director Pei Gao is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공지 • Feb 14+ 1 more updateCGN Mining Company Limited Announces Board and Committee Changes, Effective 13 February 2026The board of directors of CGN Mining Company Limited announced that, with effect from February 13, 2026, Ms. Xu Junmei resigned as an executive Director, chairman of the environmental, social and governance committee, member of the Nomination Committee, and Authorised Representative of the Company due to work re-arrangement. Mr. Sun Xu resigned as a non-executive Director, member of the Audit Committee, and member of the ESG Committee under the Board because he has reached the age of retirement. Mr. Liu Guanhua resigned as a non-executive Director and member of the Remuneration Committee under the Board as The China State-owned Enterprise Mixed Ownership Reform Fund Co. Ltd. no longer holds shares in the Company. The Board also announced that, with effect from 13 February 2026: Mr. Wang Xianfeng, an incumbent non-executive Director, was appointed as a member of the Audit Committee. Mr. Qiu Bin, an incumbent executive Director, was appointed as the Authorised Representative. Mr. Li Jie was appointed as an executive Director and chairman of the ESG Committee. Mr. Li Jie, aged 42, is currently the chief accountant of CGNPC Uranium Resources Co. Ltd. and the director of CIECC Engineering Company Limited. Mr. Li worked in China Nuclear Power Engineering Co. Ltd. from July 2006 to July 2020, and successively served as the construction and installation investment control engineer, budget management accountant, senior head of budget management, budget management director of the budget module and deputy manager of the budget module (responsible for daily operation) of the finance department. Mr. Li worked in China General Nuclear Power Corporation from July 2020 to July 2024, and successively served as the senior manager of budget and internal control management of the budget division under the finance and asset management department, head of the comprehensive tax division under the finance and asset management department and the head of the budget division under the finance and asset management department, during which he also served as the head of the budget division under the finance and asset management department of CGN Power Co. Ltd. from August 2023 to July 2024. Mr. Li served as the manager of the finance department of China Nuclear Power Operations Co. Ltd. from July 2024 to December 2025. Mr. Li graduated from Huazhong University of Science and Technology in June 2006 with a bachelor’s degree in management, majoring in engineering management. Mr. Li holds the qualifications of senior accountant, senior economist and senior engineer. Mr. Li has around 20 years of experience in financial management and the nuclear power industry. Mr. Li has entered into a service contract with the Company for an initial term of three years commencing from 13 February 2026, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' prior notice in writing served by either party to the other.더 많은 업데이트 보기Recent updatesDeclared Dividend • Mar 30Dividend of HK$0.014 announcedShareholders will receive a dividend of HK$0.014. Ex-date: 23rd June 2026 Payment date: 30th July 2026 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%.Reported Earnings • Mar 27Full year 2025 earnings released: EPS: HK$0.06 (vs HK$0.069 in FY 2024)Full year 2025 results: EPS: HK$0.06 (down from HK$0.069 in FY 2024). Revenue: HK$6.87b (down 20% from FY 2024). Net income: HK$452.8m (down 14% from FY 2024). Profit margin: 6.6% (up from 6.1% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings.공지 • Mar 27CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026.공지 • Mar 16CGN Mining Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026CGN Mining Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026Board Change • Mar 01High number of new and inexperienced directorsThere 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. Independent Non-Executive Director Pei Gao is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공지 • Feb 14+ 1 more updateCGN Mining Company Limited Announces Board and Committee Changes, Effective 13 February 2026The board of directors of CGN Mining Company Limited announced that, with effect from February 13, 2026, Ms. Xu Junmei resigned as an executive Director, chairman of the environmental, social and governance committee, member of the Nomination Committee, and Authorised Representative of the Company due to work re-arrangement. Mr. Sun Xu resigned as a non-executive Director, member of the Audit Committee, and member of the ESG Committee under the Board because he has reached the age of retirement. Mr. Liu Guanhua resigned as a non-executive Director and member of the Remuneration Committee under the Board as The China State-owned Enterprise Mixed Ownership Reform Fund Co. Ltd. no longer holds shares in the Company. The Board also announced that, with effect from 13 February 2026: Mr. Wang Xianfeng, an incumbent non-executive Director, was appointed as a member of the Audit Committee. Mr. Qiu Bin, an incumbent executive Director, was appointed as the Authorised Representative. Mr. Li Jie was appointed as an executive Director and chairman of the ESG Committee. Mr. Li Jie, aged 42, is currently the chief accountant of CGNPC Uranium Resources Co. Ltd. and the director of CIECC Engineering Company Limited. Mr. Li worked in China Nuclear Power Engineering Co. Ltd. from July 2006 to July 2020, and successively served as the construction and installation investment control engineer, budget management accountant, senior head of budget management, budget management director of the budget module and deputy manager of the budget module (responsible for daily operation) of the finance department. Mr. Li worked in China General Nuclear Power Corporation from July 2020 to July 2024, and successively served as the senior manager of budget and internal control management of the budget division under the finance and asset management department, head of the comprehensive tax division under the finance and asset management department and the head of the budget division under the finance and asset management department, during which he also served as the head of the budget division under the finance and asset management department of CGN Power Co. Ltd. from August 2023 to July 2024. Mr. Li served as the manager of the finance department of China Nuclear Power Operations Co. Ltd. from July 2024 to December 2025. Mr. Li graduated from Huazhong University of Science and Technology in June 2006 with a bachelor’s degree in management, majoring in engineering management. Mr. Li holds the qualifications of senior accountant, senior economist and senior engineer. Mr. Li has around 20 years of experience in financial management and the nuclear power industry. Mr. Li has entered into a service contract with the Company for an initial term of three years commencing from 13 February 2026, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' prior notice in writing served by either party to the other.Board Change • Oct 29Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yingpeng Wu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 27First half 2025 earnings released: HK$0.009 loss per share (vs HK$0.015 profit in 1H 2024)First half 2025 results: HK$0.009 loss per share (down from HK$0.015 profit in 1H 2024). Revenue: HK$1.71b (down 58% from 1H 2024). Net loss: HK$67.6m (down 160% from profit in 1H 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.Board Change • Aug 18Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yingpeng Wu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공지 • Aug 15CGN Mining Company Limited to Report First Half, 2025 Results on Aug 26, 2025CGN Mining Company Limited announced that they will report first half, 2025 results on Aug 26, 2025공지 • Jun 19CGN Mining Company Limited Approves Final Cash Dividend for the Year Ended December 31, 2024CGN Mining Company Limited at its Annual General Meeting held on June 19, 2025, approved to declare a final cash dividend of 0.7 Hong Kong cents per share for the year ended December 31, 2024.Board Change • May 26Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Dai Qijia was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Board Change • Apr 04Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Dai Qijia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 22Full year 2024 earnings released: EPS: HK$0.069 (vs HK$0.065 in FY 2023)Full year 2024 results: EPS: HK$0.069 (up from HK$0.065 in FY 2023). Revenue: HK$8.62b (up 17% from FY 2023). Net income: HK$526.7m (up 6.0% from FY 2023). Profit margin: 6.1% (down from 6.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. 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 25% per year, which means it is tracking significantly ahead of earnings growth.공지 • Mar 21CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025.공지 • Mar 12CGN Mining Company Limited Announces Change of Independent Non-Executive Director and Composition of Board CommitteesThe board of directors of CGN Mining Company Limited announced that, with effect from 12 March 2025, Mr. Qiu Xianhong resigned as an independent non-executive Director of the Company, the chairman of the audit committee, the chairman of the remuneration committee and a member of the nomination committee of the Board as he decided to devote more time to his other personal matters. Mr. Qiu Xianhong has confirmed that he has no disagreement with the Board and there are no other matters in respect of his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board also announced that, with effect from 12 March 2025, Ms. Dai Qijia has been appointed as an independent non-executive Director of the Company, as well as the chairwoman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Board. Ms. Dai Qijia, aged 40, is currently the chief executive officer of Lianhe Green Development Company Limited. From September 2010 to February 2016, Ms. Dai successively served as the vice president of Equity Research Department of the Royal Bank of Scotland and Barclays Capital Asia Limited. From March 2016 to May 2019, she served as a director and head of rating advisory of Fixed Income, Currencies and Commodities Department of Guotai Junan Securities (Hong Kong) Limited. From May 2019 to January 2024, Ms. Dai served as the deputy general manager and head of credit rating advisor and sustainable finance of Treasury and Markets Group of China CITIC Bank International Limited. Ms. Dai has approximately 17 years of experience in capital market investment and financing. Ms. Dai graduated from Shanghai International Studies University in July 2006 with a bachelor's degree in management, majoring in accounting. Ms. Dai has entered into a service contract with the Company for an initial term of two years commencing from 12 March 2025, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' notice in writing served by either party to the other. Ms. Dai is entitled to a director's fee of HKD 120,000 per annum pursuant to the service contract, which has been determined with reference to her duties and the remuneration policy of the Company. Pursuant to the articles of association of the Company, Ms. Dai shall hold office until the next annual general meeting of the Company where she shall be eligible for re-election. Ms. Dai shall be subject to retirement by rotation thereafter and shall then be eligible for re-election. The Board further announced that following Mr. Qiu Xianhong's resignation, Mr. Zhang Yuntao, an independent non-executive Director of the Company, has been re-designated from a member of the audit committee of the Board to the chairman of the audit committee of the Board with effect from 12 March 2025.공지 • Mar 10CGN Mining Company Limited to Report Fiscal Year 2024 Results on Mar 20, 2025CGN Mining Company Limited announced that they will report fiscal year 2024 results on Mar 20, 2025New Risk • Sep 25New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.0% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.0% operating cash flow to total debt). Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (5.1% net profit margin).Reported Earnings • Sep 24First half 2024 earnings released: EPS: HK$0.015 (vs HK$0.024 in 1H 2023)First half 2024 results: EPS: HK$0.015 (down from HK$0.024 in 1H 2023). Revenue: HK$4.07b (up 39% from 1H 2023). Net income: HK$113.1m (down 37% from 1H 2023). Profit margin: 2.8% (down from 6.1% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 26First half 2024 earnings released: EPS: HK$0.015 (vs HK$0.024 in 1H 2023)First half 2024 results: EPS: HK$0.015 (down from HK$0.024 in 1H 2023). Revenue: HK$4.07b (up 39% from 1H 2023). Net income: HK$113.1m (down 37% from 1H 2023). Profit margin: 2.8% (down from 6.1% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Oil and Gas industry in Europe.공지 • Aug 22CGN Mining Company Limited Approves Interim Dividend for the Six Months Ended 30 June 2024, Payable on 20 September 2024CGN Mining Company Limited approved interim dividend of HKD 0.003 per share for the six months ended 30 June 2024. Ex-dividend date: 06 September 2024; Record date: 11 September 2024; Payment date: 20 September 2024.공지 • Aug 12CGN Mining Company Limited to Report First Half, 2024 Results on Aug 22, 2024CGN Mining Company Limited announced that they will report first half, 2024 results on Aug 22, 2024공지 • Apr 28CGN Mining Company Limited, Annual General Meeting, Jun 20, 2024CGN Mining Company Limited, Annual General Meeting, Jun 20, 2024, at 11:00 China Standard Time. Location: 19F, Block A, Guangyao Oriental Center, No.100 West Third Ring North Road, Haidian District, Beijing, PRC Beijing China Agenda: To consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2023; to re-elect the directors of the Company; to authorize the board of directors (the "Board") to fix the remuneration of the directors of the Company; to re-appoint BDO Limited as the auditors of the Company and to authorize the Board to fix their remuneration; and to discuss other matters.Reported Earnings • Apr 28Full year 2023 earnings released: EPS: HK$0.065 (vs HK$0.072 in FY 2022)Full year 2023 results: EPS: HK$0.065 (down from HK$0.072 in FY 2022). Revenue: HK$7.36b (up 102% from FY 2022). Net income: HK$497.1m (down 3.5% from FY 2022). Profit margin: 6.8% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat.Board Change • Apr 24Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 22Full year 2023 earnings released: EPS: HK$0.065 (vs HK$0.072 in FY 2022)Full year 2023 results: EPS: HK$0.065 (down from HK$0.072 in FY 2022). Revenue: HK$7.36b (up 102% from FY 2022). Net income: HK$497.1m (down 3.5% from FY 2022). Profit margin: 6.8% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat.공지 • Mar 12CGN Mining Company Limited to Report Fiscal Year 2023 Results on Mar 21, 2024CGN Mining Company Limited announced that they will report fiscal year 2023 results on Mar 21, 2024Board Change • Nov 21Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Sep 17First half 2023 earnings released: EPS: HK$0.024 (vs HK$0.053 in 1H 2022)First half 2023 results: EPS: HK$0.024 (down from HK$0.053 in 1H 2022). Revenue: HK$2.93b (up 22% from 1H 2022). Net income: HK$179.7m (down 49% from 1H 2022). Profit margin: 6.1% (down from 15% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in Germany.Board Change • Sep 05Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공지 • Aug 18CGN Mining Company Limited Announces Board ChangesThe board of directors of CGN Mining Company Limited announced that with effect from 17 August 2023, Mr. Lee Kwok Tung Louis (Mr. Lee) has resigned as an independent non-executive director of the Company, a member of the audit committee, remuneration committee and nomination committee of the Board due to his decision to devote more time to other business. The Board also announced that with effect from 17 August 2023, Mr. Zhang Yuntao (Mr. Zhang) has been appointed as an independent non-executive director of the Company, a member of the audit committee, remuneration committee and nomination committee of the Board. Mr. Zhang, aged 46, has approximately 20 years of experience in capital market investment and financing. Mr. Zhang has worked as a managing director of an international investment bank from May 2005 to December 2017 and has been working as the general manager of a private equity firm focusing in Hong Kong and Mainland China since 2018 to date and is engaged in fund management. Mr. Zhang obtained a bachelor's degree in Economics majoring in International Finance and a master's degree in Economics majoring in Finance from the University of International Business and Economics in Beijing, China in July 1999 and June 2002, respectively. Mr. Zhang is a chartered financial analyst and a certified public accountant in China. Pursuant to the articles of association of the Company, Mr. Zhang shall hold office until the next annual general meeting of the Company where he shall be eligible for re-election. Mr. Zhang shall be subject to retirement by rotation thereafter and shall then be eligible for re-election.공지 • Aug 15CGN Mining Company Limited to Report First Half, 2023 Results on Aug 24, 2023CGN Mining Company Limited announced that they will report first half, 2023 results on Aug 24, 2023공지 • Aug 12CGN Mining Company Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2023CGN Mining Company Limited provided consolidated earnings guidance for the six months ended 30 June 2023. The group is expected to record a decrease of 40% to 60% in net profit for the six months ended 30 June 2023 as compared to the corresponding period of the year 2022.Board Change • Jun 10Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공지 • May 23CGN Mining Company Limited, Annual General Meeting, Jun 15, 2023CGN Mining Company Limited, Annual General Meeting, Jun 15, 2023, at 11:00 China Standard Time. Location: 19F, Block A, Guangyao Oriental Center No.100 West Third Ring North Road, Haidian District, Beijing, PRC Beijing China Agenda: to consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2022; to re-elect the following directors of the Company: (a) Mr. Qiu Xianhong as an independent non-executive director of the Company; (b) Mr. Gao Pei Ji as an independent non-executive director of the Company; and (c) Mr. Lee Kwok Tung Louis as an independent non-executive director of the Company; to authorise the board of directors (the "Board") to fix the remuneration of the directors of the Company; to re-appoint BDO Limited as the auditors of the Company and to authorise the Board to fix their remuneration; and to consider any other matter if any.Board Change • Mar 27Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공지 • Jan 04CGN Mining Company Limited Announces Environmental, Social and Governance Committee AppointmentsThe board of directors of CGN Mining Company Limited announced that an environmental, social and governance committee of the Board (the "ESG Committee") was established on 3 January 2023. The main duties and responsibilities of the ESG Committee include (i) to make recommendations to the Board on the environmental, social and governance ("ESG") objectives, strategies and management policies of the Company; (ii) to review and assess the adequacy and effectiveness of the management framework for ESG matters of the Company and make recommendations to the Board (if necessary); (iii) to adopt and update the Company's ESG policies to ensure compliance with applicable legal and regulatory requirements; (iv) to identify, determine, prioritise and assess ESG risks and opportunities of the Company, advise on those issues that will significantly affect the operation of the Company; (v) to review and monitor the work of the Company's ESG, assess and review the Company's ESG performance against performance targets; (vi) to ensure the annual ESG report of the Company is in compliance with the relevant requirements of the Rules Governing the Listing of Securities on The Stoc Exchange of Hong Kong Limited; (vii) to review the annual ESG report of the Company and recommend to the Board for approval; and (viii) to consider other matters, as defined or assigned by the Board from time to time. Ms. Xu Junmei has been appointed as the chairman of the ESG Committee, and Mr. Sun Xu and Mr. Gao Pei Ji have been appointed as members of the ESG Committee with effect from 3 January 2023.Board Change • Nov 21Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 26First half 2022 earnings released: EPS: HK$0.053 (vs HK$0.005 in 1H 2021)First half 2022 results: EPS: HK$0.053 (up from HK$0.005 in 1H 2021). Revenue: HK$2.41b (up 31% from 1H 2021). Net income: HK$355.1m (up HK$319.1m from 1H 2021). Profit margin: 15% (up from 2.0% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 58%, compared to a 52% growth forecast for the Oil and Gas industry in Germany.Board Change • Aug 19Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공지 • Aug 16CGN Mining Company Limited to Report First Half, 2022 Results on Aug 25, 2022CGN Mining Company Limited announced that they will report first half, 2022 results on Aug 25, 2022공지 • Aug 13CGN Mining Company Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2022CGN Mining Company Limited provided group earnings guidance for the six months ended 30 June 2022. Based on a preliminary review by the management of the company on the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022, the board of directors of the company informed the shareholders of the company and potential investors that the Group is expected to record an increase in net profit from approximately HKD 36 million for the six months ended 30 June 2021 to approximately HKD 340 million to HKD 360 million for the six months ended 30 June 2022. Based on currently available information, the increase in net profit for the six months ended 30 June 2022 as compared to the corresponding period in 2021 was mainly attributable to increase in gross profit from natural uranium trading as a result of increase in trading price spread; increase in natural uranium prices resulting an increase in share of results of a joint venture from Semizbay-U Limited Liability Partnership; and addition of share of results of an associate from Mining Company "ORTALYK" LLP following the completion of acquisition of 49% interest in Ortalyk inJuly 2021.공지 • Jul 20CGN Mining Company Limited Appoints Liu Guanhua as Non-Executive DirectorThe board of directors of CGN Mining Company Limited announced the appointment of Mr. Liu Guanhua who is nominated by the Mixed-ownership Reform Fund, as a non-executive director of the Company and a member of the remuneration committee of the Board with effect from 19 July 2022. Mr. Liu, aged 39, is currently the managing director of the investment department of Chengtong Mixed Ownership Private Equity Fund Management Co. Ltd. mainly responsible for investment in new energy. Chengtong Mixed Ownership is the manager of the Mixed-ownership Reform Fund, which is a national fund approved by the State Council of the People's Republic of China and a 9.99% shareholder of the Company as at the date of this announcement. Mr. Liu has also been a director of Shanghai Jie-Hydrogen Technology Co. Ltd. since September 2021, and a director of Beijing Micro-structure Workshop Biotechnology Co. Ltd. and Zhejiang Hancheng Technology Co. Ltd. since December 2021. Prior to joining Chengtong Mixed Ownership in February 2021, Mr. Liu served as (i) the general manager of the strategic management department of Inner Mongolia Junzheng Energy and Chemical Group Co. Ltd. mainly responsible for strategic planning, chemical energy and new materials investment and acquisition, and strategic business expansion, between 2018 and 2021, (ii) involved in the commercialisation of cleaning technology in a company invested by Chinese Academy of Sciences between 2012 and 2017 and (iii) served as a senior researcher on catalyst materials at Johnson Matthey PLC between 2010 and 2012. Mr. Liu graduated from the Central South University with a bachelor of science degree in June 2005. Mr. Liu further obtained a Master of Science degree in advanced chemical engineering with biotechnology and a PhD degree from the Imperial College of Secience, Technology and Medicine in November 2006 and August 2010, respectively. Mr. Liu was accredited as a senior engineer in chemistry by Chinese Academy of Sciences in 2013 and a chartered financial analyst by the CFA Institute in 2017. There is no fixed term for Mr. Liu's appointment as a non-executive director of the Company but Mr. Liu is subject to the retirement and re-election requirements under the articles of association of the Company.Board Change • Jun 21Less than half of directors are independentThere 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. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공지 • May 20CGN Mining Company Limited, Annual General Meeting, Jun 16, 2022CGN Mining Company Limited, Annual General Meeting, Jun 16, 2022, at 11:00 China Standard Time. Location: Conference Room 3001, 30F, Tower A, International Centre of Times, 101 Shaoyaoju Beili, Chaoyang District, PRC Beijing City China Agenda: To consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2021; to re-elect Mr. An Junjing as an executive director of the Company; to re-elect Ms. Xu Junmei as an executive director of the Company; to re-elect Mr. Sun Xu as a non-executive director of the Company; to authorise the board of directors to fix the remuneration of the directors; to re-appoint BDO Limited as the auditors of the Company and to authorise the board of directors to fix their remuneration; and to consider any other matters.Board Change • Apr 27Less than half of directors are independentThere 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. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Feb 07Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Jan 05Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Executive Departure • Oct 03General Counsel & Company Secretary Xiaowei Zheng has left the companyOn the 27th of September, Xiaowei Zheng's tenure as General Counsel & Company Secretary ended after 7.3 years in the role. We don't have any record of a personal shareholding under Xiaowei's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.75 years.Board Change • Sep 28Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Sep 28First half 2021 earnings released: EPS HK$0.005 (vs HK$0.017 in 1H 2020)The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: HK$1.85b (up 99% from 1H 2020). Net income: HK$36.0m (down 68% from 1H 2020). Profit margin: 2.0% (down from 12% in 1H 2020). The decrease in margin was driven by higher expenses.주주 수익률VBODE Oil and GasDE 시장7D-0.5%1.3%3.4%1Yn/a53.8%3.4%전체 주주 수익률 보기수익률 대 산업: VBO의 German Oil and Gas 산업 대비 성과를 판단하기에 데이터가 부족합니다.수익률 대 시장: VBO의 German 시장 대비 성과를 판단하기에 데이터가 부족합니다.주가 변동성Is VBO's price volatile compared to industry and market?VBO volatilityVBO Average Weekly Movement11.3%Oil and Gas Industry Average Movement9.0%Market Average Movement6.0%10% most volatile stocks in DE Market12.5%10% least volatile stocks in DE Market2.7%안정적인 주가: VBO의 주가는 지난 3개월 동안 German 시장보다 변동성이 컸습니다.시간에 따른 변동성: VBO의 주간 변동성(11%)은 지난 1년 동안 안정적이었지만 German 종목 중 상위 75%보다 높습니다.회사 소개설립직원 수CEO웹사이트199817Bin Qiuwww.cgnmc.comCGN 마이닝 컴퍼니 리미티드는 천연 우라늄 자원을 원자력 발전소에 공급하는 개발 및 거래 사업을 하고 있습니다. 천연 우라늄 거래 및 기타 투자 부문을 통해 운영됩니다. 이 회사는 천연 우라늄 자원에도 투자합니다.더 보기CGN Mining Company Limited 기초 지표 요약CGN Mining의 순이익과 매출은 시가총액과 어떻게 비교됩니까?VBO 기초 통계시가총액€3.27b순이익 (TTM)€49.24m매출 (TTM)€747.07m66.5x주가수익비율(P/E)4.4x주가매출비율(P/S)VBO는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표VBO 손익계산서 (TTM)매출HK$6.87b매출원가HK$6.80b총이익HK$68.91m기타 비용-HK$383.85m순이익HK$452.76m최근 보고된 실적Dec 31, 2025다음 실적 발표일해당 없음주당순이익(EPS)0.06총이익률1.00%순이익률6.59%부채/자본 비율66.7%VBO의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당0.4%현재 배당 수익률24%배당 성향VBO는 안정적으로 배당을 지급합니까?VBO 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 VBO를 매수해야 하나요?CGN Mining 배당 일정배당락일Jun 23 2026배당 지급일Jul 30 2026배당락일까지 남은 일수46 days배당 지급일까지 남은 일수83 daysVBO는 안정적으로 배당을 지급합니까?VBO 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/07 01:36종가2026/05/07 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스CGN Mining Company Limited는 13명의 분석가가 다루고 있습니다. 이 중 6명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Miriam ChanBofA Global ResearchJiaming ZhangChina International Capital Corporation Limitednull nullChina International Capital Corporation Limited10명의 분석가 더 보기
Declared Dividend • Mar 30Dividend of HK$0.014 announcedShareholders will receive a dividend of HK$0.014. Ex-date: 23rd June 2026 Payment date: 30th July 2026 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%.
Reported Earnings • Mar 27Full year 2025 earnings released: EPS: HK$0.06 (vs HK$0.069 in FY 2024)Full year 2025 results: EPS: HK$0.06 (down from HK$0.069 in FY 2024). Revenue: HK$6.87b (down 20% from FY 2024). Net income: HK$452.8m (down 14% from FY 2024). Profit margin: 6.6% (up from 6.1% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings.
공지 • Mar 27CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026.
공지 • Mar 16CGN Mining Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026CGN Mining Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026
Board Change • Mar 01High number of new and inexperienced directorsThere 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. Independent Non-Executive Director Pei Gao is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공지 • Feb 14+ 1 more updateCGN Mining Company Limited Announces Board and Committee Changes, Effective 13 February 2026The board of directors of CGN Mining Company Limited announced that, with effect from February 13, 2026, Ms. Xu Junmei resigned as an executive Director, chairman of the environmental, social and governance committee, member of the Nomination Committee, and Authorised Representative of the Company due to work re-arrangement. Mr. Sun Xu resigned as a non-executive Director, member of the Audit Committee, and member of the ESG Committee under the Board because he has reached the age of retirement. Mr. Liu Guanhua resigned as a non-executive Director and member of the Remuneration Committee under the Board as The China State-owned Enterprise Mixed Ownership Reform Fund Co. Ltd. no longer holds shares in the Company. The Board also announced that, with effect from 13 February 2026: Mr. Wang Xianfeng, an incumbent non-executive Director, was appointed as a member of the Audit Committee. Mr. Qiu Bin, an incumbent executive Director, was appointed as the Authorised Representative. Mr. Li Jie was appointed as an executive Director and chairman of the ESG Committee. Mr. Li Jie, aged 42, is currently the chief accountant of CGNPC Uranium Resources Co. Ltd. and the director of CIECC Engineering Company Limited. Mr. Li worked in China Nuclear Power Engineering Co. Ltd. from July 2006 to July 2020, and successively served as the construction and installation investment control engineer, budget management accountant, senior head of budget management, budget management director of the budget module and deputy manager of the budget module (responsible for daily operation) of the finance department. Mr. Li worked in China General Nuclear Power Corporation from July 2020 to July 2024, and successively served as the senior manager of budget and internal control management of the budget division under the finance and asset management department, head of the comprehensive tax division under the finance and asset management department and the head of the budget division under the finance and asset management department, during which he also served as the head of the budget division under the finance and asset management department of CGN Power Co. Ltd. from August 2023 to July 2024. Mr. Li served as the manager of the finance department of China Nuclear Power Operations Co. Ltd. from July 2024 to December 2025. Mr. Li graduated from Huazhong University of Science and Technology in June 2006 with a bachelor’s degree in management, majoring in engineering management. Mr. Li holds the qualifications of senior accountant, senior economist and senior engineer. Mr. Li has around 20 years of experience in financial management and the nuclear power industry. Mr. Li has entered into a service contract with the Company for an initial term of three years commencing from 13 February 2026, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' prior notice in writing served by either party to the other.
Declared Dividend • Mar 30Dividend of HK$0.014 announcedShareholders will receive a dividend of HK$0.014. Ex-date: 23rd June 2026 Payment date: 30th July 2026 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%.
Reported Earnings • Mar 27Full year 2025 earnings released: EPS: HK$0.06 (vs HK$0.069 in FY 2024)Full year 2025 results: EPS: HK$0.06 (down from HK$0.069 in FY 2024). Revenue: HK$6.87b (down 20% from FY 2024). Net income: HK$452.8m (down 14% from FY 2024). Profit margin: 6.6% (up from 6.1% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings.
공지 • Mar 27CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026.
공지 • Mar 16CGN Mining Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026CGN Mining Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026
Board Change • Mar 01High number of new and inexperienced directorsThere 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. Independent Non-Executive Director Pei Gao is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공지 • Feb 14+ 1 more updateCGN Mining Company Limited Announces Board and Committee Changes, Effective 13 February 2026The board of directors of CGN Mining Company Limited announced that, with effect from February 13, 2026, Ms. Xu Junmei resigned as an executive Director, chairman of the environmental, social and governance committee, member of the Nomination Committee, and Authorised Representative of the Company due to work re-arrangement. Mr. Sun Xu resigned as a non-executive Director, member of the Audit Committee, and member of the ESG Committee under the Board because he has reached the age of retirement. Mr. Liu Guanhua resigned as a non-executive Director and member of the Remuneration Committee under the Board as The China State-owned Enterprise Mixed Ownership Reform Fund Co. Ltd. no longer holds shares in the Company. The Board also announced that, with effect from 13 February 2026: Mr. Wang Xianfeng, an incumbent non-executive Director, was appointed as a member of the Audit Committee. Mr. Qiu Bin, an incumbent executive Director, was appointed as the Authorised Representative. Mr. Li Jie was appointed as an executive Director and chairman of the ESG Committee. Mr. Li Jie, aged 42, is currently the chief accountant of CGNPC Uranium Resources Co. Ltd. and the director of CIECC Engineering Company Limited. Mr. Li worked in China Nuclear Power Engineering Co. Ltd. from July 2006 to July 2020, and successively served as the construction and installation investment control engineer, budget management accountant, senior head of budget management, budget management director of the budget module and deputy manager of the budget module (responsible for daily operation) of the finance department. Mr. Li worked in China General Nuclear Power Corporation from July 2020 to July 2024, and successively served as the senior manager of budget and internal control management of the budget division under the finance and asset management department, head of the comprehensive tax division under the finance and asset management department and the head of the budget division under the finance and asset management department, during which he also served as the head of the budget division under the finance and asset management department of CGN Power Co. Ltd. from August 2023 to July 2024. Mr. Li served as the manager of the finance department of China Nuclear Power Operations Co. Ltd. from July 2024 to December 2025. Mr. Li graduated from Huazhong University of Science and Technology in June 2006 with a bachelor’s degree in management, majoring in engineering management. Mr. Li holds the qualifications of senior accountant, senior economist and senior engineer. Mr. Li has around 20 years of experience in financial management and the nuclear power industry. Mr. Li has entered into a service contract with the Company for an initial term of three years commencing from 13 February 2026, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' prior notice in writing served by either party to the other.
Board Change • Oct 29Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yingpeng Wu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 27First half 2025 earnings released: HK$0.009 loss per share (vs HK$0.015 profit in 1H 2024)First half 2025 results: HK$0.009 loss per share (down from HK$0.015 profit in 1H 2024). Revenue: HK$1.71b (down 58% from 1H 2024). Net loss: HK$67.6m (down 160% from profit in 1H 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.
Board Change • Aug 18Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yingpeng Wu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공지 • Aug 15CGN Mining Company Limited to Report First Half, 2025 Results on Aug 26, 2025CGN Mining Company Limited announced that they will report first half, 2025 results on Aug 26, 2025
공지 • Jun 19CGN Mining Company Limited Approves Final Cash Dividend for the Year Ended December 31, 2024CGN Mining Company Limited at its Annual General Meeting held on June 19, 2025, approved to declare a final cash dividend of 0.7 Hong Kong cents per share for the year ended December 31, 2024.
Board Change • May 26Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Dai Qijia was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Board Change • Apr 04Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Dai Qijia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 22Full year 2024 earnings released: EPS: HK$0.069 (vs HK$0.065 in FY 2023)Full year 2024 results: EPS: HK$0.069 (up from HK$0.065 in FY 2023). Revenue: HK$8.62b (up 17% from FY 2023). Net income: HK$526.7m (up 6.0% from FY 2023). Profit margin: 6.1% (down from 6.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. 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 25% per year, which means it is tracking significantly ahead of earnings growth.
공지 • Mar 21CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025.
공지 • Mar 12CGN Mining Company Limited Announces Change of Independent Non-Executive Director and Composition of Board CommitteesThe board of directors of CGN Mining Company Limited announced that, with effect from 12 March 2025, Mr. Qiu Xianhong resigned as an independent non-executive Director of the Company, the chairman of the audit committee, the chairman of the remuneration committee and a member of the nomination committee of the Board as he decided to devote more time to his other personal matters. Mr. Qiu Xianhong has confirmed that he has no disagreement with the Board and there are no other matters in respect of his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board also announced that, with effect from 12 March 2025, Ms. Dai Qijia has been appointed as an independent non-executive Director of the Company, as well as the chairwoman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Board. Ms. Dai Qijia, aged 40, is currently the chief executive officer of Lianhe Green Development Company Limited. From September 2010 to February 2016, Ms. Dai successively served as the vice president of Equity Research Department of the Royal Bank of Scotland and Barclays Capital Asia Limited. From March 2016 to May 2019, she served as a director and head of rating advisory of Fixed Income, Currencies and Commodities Department of Guotai Junan Securities (Hong Kong) Limited. From May 2019 to January 2024, Ms. Dai served as the deputy general manager and head of credit rating advisor and sustainable finance of Treasury and Markets Group of China CITIC Bank International Limited. Ms. Dai has approximately 17 years of experience in capital market investment and financing. Ms. Dai graduated from Shanghai International Studies University in July 2006 with a bachelor's degree in management, majoring in accounting. Ms. Dai has entered into a service contract with the Company for an initial term of two years commencing from 12 March 2025, subject to retirement and re-election as required by the articles of association of the Company, and will continue thereafter until termination by not less than three months' notice in writing served by either party to the other. Ms. Dai is entitled to a director's fee of HKD 120,000 per annum pursuant to the service contract, which has been determined with reference to her duties and the remuneration policy of the Company. Pursuant to the articles of association of the Company, Ms. Dai shall hold office until the next annual general meeting of the Company where she shall be eligible for re-election. Ms. Dai shall be subject to retirement by rotation thereafter and shall then be eligible for re-election. The Board further announced that following Mr. Qiu Xianhong's resignation, Mr. Zhang Yuntao, an independent non-executive Director of the Company, has been re-designated from a member of the audit committee of the Board to the chairman of the audit committee of the Board with effect from 12 March 2025.
공지 • Mar 10CGN Mining Company Limited to Report Fiscal Year 2024 Results on Mar 20, 2025CGN Mining Company Limited announced that they will report fiscal year 2024 results on Mar 20, 2025
New Risk • Sep 25New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.0% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.0% operating cash flow to total debt). Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (5.1% net profit margin).
Reported Earnings • Sep 24First half 2024 earnings released: EPS: HK$0.015 (vs HK$0.024 in 1H 2023)First half 2024 results: EPS: HK$0.015 (down from HK$0.024 in 1H 2023). Revenue: HK$4.07b (up 39% from 1H 2023). Net income: HK$113.1m (down 37% from 1H 2023). Profit margin: 2.8% (down from 6.1% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 26First half 2024 earnings released: EPS: HK$0.015 (vs HK$0.024 in 1H 2023)First half 2024 results: EPS: HK$0.015 (down from HK$0.024 in 1H 2023). Revenue: HK$4.07b (up 39% from 1H 2023). Net income: HK$113.1m (down 37% from 1H 2023). Profit margin: 2.8% (down from 6.1% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Oil and Gas industry in Europe.
공지 • Aug 22CGN Mining Company Limited Approves Interim Dividend for the Six Months Ended 30 June 2024, Payable on 20 September 2024CGN Mining Company Limited approved interim dividend of HKD 0.003 per share for the six months ended 30 June 2024. Ex-dividend date: 06 September 2024; Record date: 11 September 2024; Payment date: 20 September 2024.
공지 • Aug 12CGN Mining Company Limited to Report First Half, 2024 Results on Aug 22, 2024CGN Mining Company Limited announced that they will report first half, 2024 results on Aug 22, 2024
공지 • Apr 28CGN Mining Company Limited, Annual General Meeting, Jun 20, 2024CGN Mining Company Limited, Annual General Meeting, Jun 20, 2024, at 11:00 China Standard Time. Location: 19F, Block A, Guangyao Oriental Center, No.100 West Third Ring North Road, Haidian District, Beijing, PRC Beijing China Agenda: To consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2023; to re-elect the directors of the Company; to authorize the board of directors (the "Board") to fix the remuneration of the directors of the Company; to re-appoint BDO Limited as the auditors of the Company and to authorize the Board to fix their remuneration; and to discuss other matters.
Reported Earnings • Apr 28Full year 2023 earnings released: EPS: HK$0.065 (vs HK$0.072 in FY 2022)Full year 2023 results: EPS: HK$0.065 (down from HK$0.072 in FY 2022). Revenue: HK$7.36b (up 102% from FY 2022). Net income: HK$497.1m (down 3.5% from FY 2022). Profit margin: 6.8% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat.
Board Change • Apr 24Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 22Full year 2023 earnings released: EPS: HK$0.065 (vs HK$0.072 in FY 2022)Full year 2023 results: EPS: HK$0.065 (down from HK$0.072 in FY 2022). Revenue: HK$7.36b (up 102% from FY 2022). Net income: HK$497.1m (down 3.5% from FY 2022). Profit margin: 6.8% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat.
공지 • Mar 12CGN Mining Company Limited to Report Fiscal Year 2023 Results on Mar 21, 2024CGN Mining Company Limited announced that they will report fiscal year 2023 results on Mar 21, 2024
Board Change • Nov 21Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Sep 17First half 2023 earnings released: EPS: HK$0.024 (vs HK$0.053 in 1H 2022)First half 2023 results: EPS: HK$0.024 (down from HK$0.053 in 1H 2022). Revenue: HK$2.93b (up 22% from 1H 2022). Net income: HK$179.7m (down 49% from 1H 2022). Profit margin: 6.1% (down from 15% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in Germany.
Board Change • Sep 05Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Yuntao Zhang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공지 • Aug 18CGN Mining Company Limited Announces Board ChangesThe board of directors of CGN Mining Company Limited announced that with effect from 17 August 2023, Mr. Lee Kwok Tung Louis (Mr. Lee) has resigned as an independent non-executive director of the Company, a member of the audit committee, remuneration committee and nomination committee of the Board due to his decision to devote more time to other business. The Board also announced that with effect from 17 August 2023, Mr. Zhang Yuntao (Mr. Zhang) has been appointed as an independent non-executive director of the Company, a member of the audit committee, remuneration committee and nomination committee of the Board. Mr. Zhang, aged 46, has approximately 20 years of experience in capital market investment and financing. Mr. Zhang has worked as a managing director of an international investment bank from May 2005 to December 2017 and has been working as the general manager of a private equity firm focusing in Hong Kong and Mainland China since 2018 to date and is engaged in fund management. Mr. Zhang obtained a bachelor's degree in Economics majoring in International Finance and a master's degree in Economics majoring in Finance from the University of International Business and Economics in Beijing, China in July 1999 and June 2002, respectively. Mr. Zhang is a chartered financial analyst and a certified public accountant in China. Pursuant to the articles of association of the Company, Mr. Zhang shall hold office until the next annual general meeting of the Company where he shall be eligible for re-election. Mr. Zhang shall be subject to retirement by rotation thereafter and shall then be eligible for re-election.
공지 • Aug 15CGN Mining Company Limited to Report First Half, 2023 Results on Aug 24, 2023CGN Mining Company Limited announced that they will report first half, 2023 results on Aug 24, 2023
공지 • Aug 12CGN Mining Company Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2023CGN Mining Company Limited provided consolidated earnings guidance for the six months ended 30 June 2023. The group is expected to record a decrease of 40% to 60% in net profit for the six months ended 30 June 2023 as compared to the corresponding period of the year 2022.
Board Change • Jun 10Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공지 • May 23CGN Mining Company Limited, Annual General Meeting, Jun 15, 2023CGN Mining Company Limited, Annual General Meeting, Jun 15, 2023, at 11:00 China Standard Time. Location: 19F, Block A, Guangyao Oriental Center No.100 West Third Ring North Road, Haidian District, Beijing, PRC Beijing China Agenda: to consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2022; to re-elect the following directors of the Company: (a) Mr. Qiu Xianhong as an independent non-executive director of the Company; (b) Mr. Gao Pei Ji as an independent non-executive director of the Company; and (c) Mr. Lee Kwok Tung Louis as an independent non-executive director of the Company; to authorise the board of directors (the "Board") to fix the remuneration of the directors of the Company; to re-appoint BDO Limited as the auditors of the Company and to authorise the Board to fix their remuneration; and to consider any other matter if any.
Board Change • Mar 27Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공지 • Jan 04CGN Mining Company Limited Announces Environmental, Social and Governance Committee AppointmentsThe board of directors of CGN Mining Company Limited announced that an environmental, social and governance committee of the Board (the "ESG Committee") was established on 3 January 2023. The main duties and responsibilities of the ESG Committee include (i) to make recommendations to the Board on the environmental, social and governance ("ESG") objectives, strategies and management policies of the Company; (ii) to review and assess the adequacy and effectiveness of the management framework for ESG matters of the Company and make recommendations to the Board (if necessary); (iii) to adopt and update the Company's ESG policies to ensure compliance with applicable legal and regulatory requirements; (iv) to identify, determine, prioritise and assess ESG risks and opportunities of the Company, advise on those issues that will significantly affect the operation of the Company; (v) to review and monitor the work of the Company's ESG, assess and review the Company's ESG performance against performance targets; (vi) to ensure the annual ESG report of the Company is in compliance with the relevant requirements of the Rules Governing the Listing of Securities on The Stoc Exchange of Hong Kong Limited; (vii) to review the annual ESG report of the Company and recommend to the Board for approval; and (viii) to consider other matters, as defined or assigned by the Board from time to time. Ms. Xu Junmei has been appointed as the chairman of the ESG Committee, and Mr. Sun Xu and Mr. Gao Pei Ji have been appointed as members of the ESG Committee with effect from 3 January 2023.
Board Change • Nov 21Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 26First half 2022 earnings released: EPS: HK$0.053 (vs HK$0.005 in 1H 2021)First half 2022 results: EPS: HK$0.053 (up from HK$0.005 in 1H 2021). Revenue: HK$2.41b (up 31% from 1H 2021). Net income: HK$355.1m (up HK$319.1m from 1H 2021). Profit margin: 15% (up from 2.0% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 58%, compared to a 52% growth forecast for the Oil and Gas industry in Germany.
Board Change • Aug 19Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공지 • Aug 16CGN Mining Company Limited to Report First Half, 2022 Results on Aug 25, 2022CGN Mining Company Limited announced that they will report first half, 2022 results on Aug 25, 2022
공지 • Aug 13CGN Mining Company Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2022CGN Mining Company Limited provided group earnings guidance for the six months ended 30 June 2022. Based on a preliminary review by the management of the company on the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022, the board of directors of the company informed the shareholders of the company and potential investors that the Group is expected to record an increase in net profit from approximately HKD 36 million for the six months ended 30 June 2021 to approximately HKD 340 million to HKD 360 million for the six months ended 30 June 2022. Based on currently available information, the increase in net profit for the six months ended 30 June 2022 as compared to the corresponding period in 2021 was mainly attributable to increase in gross profit from natural uranium trading as a result of increase in trading price spread; increase in natural uranium prices resulting an increase in share of results of a joint venture from Semizbay-U Limited Liability Partnership; and addition of share of results of an associate from Mining Company "ORTALYK" LLP following the completion of acquisition of 49% interest in Ortalyk inJuly 2021.
공지 • Jul 20CGN Mining Company Limited Appoints Liu Guanhua as Non-Executive DirectorThe board of directors of CGN Mining Company Limited announced the appointment of Mr. Liu Guanhua who is nominated by the Mixed-ownership Reform Fund, as a non-executive director of the Company and a member of the remuneration committee of the Board with effect from 19 July 2022. Mr. Liu, aged 39, is currently the managing director of the investment department of Chengtong Mixed Ownership Private Equity Fund Management Co. Ltd. mainly responsible for investment in new energy. Chengtong Mixed Ownership is the manager of the Mixed-ownership Reform Fund, which is a national fund approved by the State Council of the People's Republic of China and a 9.99% shareholder of the Company as at the date of this announcement. Mr. Liu has also been a director of Shanghai Jie-Hydrogen Technology Co. Ltd. since September 2021, and a director of Beijing Micro-structure Workshop Biotechnology Co. Ltd. and Zhejiang Hancheng Technology Co. Ltd. since December 2021. Prior to joining Chengtong Mixed Ownership in February 2021, Mr. Liu served as (i) the general manager of the strategic management department of Inner Mongolia Junzheng Energy and Chemical Group Co. Ltd. mainly responsible for strategic planning, chemical energy and new materials investment and acquisition, and strategic business expansion, between 2018 and 2021, (ii) involved in the commercialisation of cleaning technology in a company invested by Chinese Academy of Sciences between 2012 and 2017 and (iii) served as a senior researcher on catalyst materials at Johnson Matthey PLC between 2010 and 2012. Mr. Liu graduated from the Central South University with a bachelor of science degree in June 2005. Mr. Liu further obtained a Master of Science degree in advanced chemical engineering with biotechnology and a PhD degree from the Imperial College of Secience, Technology and Medicine in November 2006 and August 2010, respectively. Mr. Liu was accredited as a senior engineer in chemistry by Chinese Academy of Sciences in 2013 and a chartered financial analyst by the CFA Institute in 2017. There is no fixed term for Mr. Liu's appointment as a non-executive director of the Company but Mr. Liu is subject to the retirement and re-election requirements under the articles of association of the Company.
Board Change • Jun 21Less than half of directors are independentThere 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. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공지 • May 20CGN Mining Company Limited, Annual General Meeting, Jun 16, 2022CGN Mining Company Limited, Annual General Meeting, Jun 16, 2022, at 11:00 China Standard Time. Location: Conference Room 3001, 30F, Tower A, International Centre of Times, 101 Shaoyaoju Beili, Chaoyang District, PRC Beijing City China Agenda: To consider and adopt the audited consolidated financial statements and the reports of the directors and the auditors of the Company for the year ended 31 December 2021; to re-elect Mr. An Junjing as an executive director of the Company; to re-elect Ms. Xu Junmei as an executive director of the Company; to re-elect Mr. Sun Xu as a non-executive director of the Company; to authorise the board of directors to fix the remuneration of the directors; to re-appoint BDO Limited as the auditors of the Company and to authorise the board of directors to fix their remuneration; and to consider any other matters.
Board Change • Apr 27Less than half of directors are independentThere 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. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Feb 07Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Jan 05Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Executive Departure • Oct 03General Counsel & Company Secretary Xiaowei Zheng has left the companyOn the 27th of September, Xiaowei Zheng's tenure as General Counsel & Company Secretary ended after 7.3 years in the role. We don't have any record of a personal shareholding under Xiaowei's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.75 years.
Board Change • Sep 28Less than half of directors are independentFollowing 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. 5 non-independent directors. Independent Non-Executive Director Pei Ji Gao was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Sep 28First half 2021 earnings released: EPS HK$0.005 (vs HK$0.017 in 1H 2020)The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: HK$1.85b (up 99% from 1H 2020). Net income: HK$36.0m (down 68% from 1H 2020). Profit margin: 2.0% (down from 12% in 1H 2020). The decrease in margin was driven by higher expenses.
