Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥41.31, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Metals and Mining industry in China. Total returns to shareholders of 204% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥51.71 per share. Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: CN¥0.52 (vs CN¥0.29 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.52 (up from CN¥0.29 in 1Q 2025). Revenue: CN¥15.6b (up 60% from 1Q 2025). Net income: CN¥867.6m (up 74% from 1Q 2025). Profit margin: 5.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% 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 34% per year whereas the company’s share price has increased by 31% per year. Declared Dividend • Apr 26
Final dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 30th April 2026 Payment date: 30th April 2026 Dividend yield will be 0.9%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (89% cash payout ratio). The dividend has increased by an average of 35% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Apr 24
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. Director & GM Assistant Shi Yong Li was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥37.55, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 151% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥51.24 per share. Announcement • Mar 31
Yunnan Tin Company Limited to Report Q1, 2026 Results on Apr 28, 2026 Yunnan Tin Company Limited announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Mar 30
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥1.16 (up from CN¥0.85 in FY 2024). Revenue: CN¥43.5b (up 3.7% from FY 2024). Net income: CN¥1.97b (up 36% from FY 2024). Profit margin: 4.5% (up from 3.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to stay flat during the next 2 years compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 30% per year. Announcement • Mar 29
Yunnan Tin Company Limited, Annual General Meeting, Apr 20, 2026 Yunnan Tin Company Limited, Annual General Meeting, Apr 20, 2026, at 15:00 China Standard Time. Location: 5F, Office Building, No. 471, Minhang Road, Kunming, Yunnan China Buy Or Sell Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock has risen 71% to CN¥43.92. The fair value is estimated to be CN¥56.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.6% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to decline by 6.4% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥44.36, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Metals and Mining industry in China. Total returns to shareholders of 202% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.50 per share. New Risk • Feb 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Feb 01
Price target increased by 15% to CN¥25.30 Up from CN¥21.94, the current price target is an average from 2 analysts. New target price is 36% below last closing price of CN¥39.82. Stock is up 176% over the past year. The company is forecast to post earnings per share of CN¥1.44 for next year compared to CN¥0.85 last year. Buy Or Sell Opportunity • Jan 27
Now 21% undervalued Over the last 90 days, the stock has risen 81% to CN¥44.38. The fair value is estimated to be CN¥56.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.6% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to decline by 5.3% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 12% After last week's 12% share price gain to CN¥41.98, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 26x in the Metals and Mining industry in China. Total returns to shareholders of 186% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥55.56 per share. Declared Dividend • Jan 26
Dividend of CN¥0.11 announced Shareholders will receive a dividend of CN¥0.11. Ex-date: 27th January 2026 Payment date: 27th January 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 29% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 20
Yunnan Tin Company Limited Approves 2025 Third Quarter Cash Dividend on A Shares, Payable on 27 January 2026 Yunnan Tin Company Limited announced 2025 third quarter profit distribution plan its 1st Extraordinary General Meeting of 2026 on 16 January 2026 approved: Cash dividend/10 shares (tax included): CNY 1.10000000 on A shares. Record date: 26 January 2026. Ex-date: 27 January 2026. Payment date: 27 January 2026. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥32.20, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Metals and Mining industry in China. Total returns to shareholders of 134% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥54.49 per share. Announcement • Dec 31
Yunnan Tin Company Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Yunnan Tin Company Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.41 (vs CN¥0.28 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.41 (up from CN¥0.28 in 3Q 2024). Revenue: CN¥13.3b (up 28% from 3Q 2024). Net income: CN¥683.4m (up 41% from 3Q 2024). Profit margin: 5.1% (up from 4.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 9.4% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 15
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 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Announcement • Sep 30
Yunnan Tin Company Limited to Report Q3, 2025 Results on Oct 27, 2025 Yunnan Tin Company Limited announced that they will report Q3, 2025 results on Oct 27, 2025 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥23.14, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Metals and Mining industry in China. Total returns to shareholders of 96% over the past three years. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.28 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.33 (up from CN¥0.28 in 2Q 2024). Revenue: CN¥11.4b (up 9.5% from 2Q 2024). Net income: CN¥562.4m (up 19% from 2Q 2024). Profit margin: 4.9% (up from 4.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.90, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 30% over the past three years. Announcement • Jul 02
Yunnan Tin Company Limited to Report First Half, 2025 Results on Aug 25, 2025 Yunnan Tin Company Limited announced that they will report first half, 2025 results on Aug 25, 2025 Announcement • Jun 13
Yunnan Tin Company Limited (SZSE:000960) announces an Equity Buyback for CNY 200 million worth of its shares. Yunnan Tin Company Limited (SZSE:000960) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 21.19 per share. The program will be financed via own funds or self raised funds. The purpose of the program is to reduce registered capital. The repurchased shares will be cancelled. The buyback is subject to shareholders approval. The program will be valid for 12 months from the date of shareholders approval. Declared Dividend • May 05
Dividend of CN¥0.19 announced Shareholders will receive a dividend of CN¥0.19. Ex-date: 12th May 2025 Payment date: 12th May 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 51% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 02
Price target decreased by 9.5% to CN¥17.65 Down from CN¥19.50, the current price target is an average from 2 analysts. New target price is 28% above last closing price of CN¥13.79. Stock is down 16% over the past year. The company is forecast to post earnings per share of CN¥1.41 for next year compared to CN¥0.85 last year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥13.38, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Metals and Mining industry in China. Total loss to shareholders of 36% over the past three years. Announcement • Apr 04
Yunnan Tin Company Limited Proposes Final Cash Distribution for 2024 Yunnan Tin Company Limited announced on 03 April 2025 the final profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY1.90000000. Reported Earnings • Apr 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.85. Revenue: CN¥42.0b (flat on FY 2023). Net income: CN¥1.44b (up 2.5% from FY 2023). Profit margin: 3.4% (up from 3.3% in FY 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in China. Announcement • Apr 03
Yunnan Tin Company Limited, Annual General Meeting, Apr 25, 2025 Yunnan Tin Company Limited, Annual General Meeting, Apr 25, 2025, at 15:00 China Standard Time. Location: 5F, Office Building, No. 471, Minhang Road, Kunming, Yunnan China Announcement • Mar 31
Yunnan Tin Company Limited to Report Q1, 2025 Results on Apr 28, 2025 Yunnan Tin Company Limited announced that they will report Q1, 2025 results on Apr 28, 2025 Announcement • Jan 18
Yunnan Tin Company Limited Approves Interim Profit Distribution Plan for Third Quarter 2024, Payable on 23 January 2025 Yunnan Tin Company Limited at its 1st Extraordinary General Meeting of 2025 on 15 January 2025, during which the following proposal(s) was/were approved: 2024 interim profit distribution plan. The detailed profit distribution plan is as follows: Cash dividend/10 shares (tax included): CNY 1.00000000. 2024 third quarter profit distribution plan to be implemented (A shares): Record date: 22 January 2025; Ex-date: 23 January 2025; Payment date: 23 January 2025. Announcement • Jan 02
Yunnan Tin Company Limited Proposes Profit Distribution for the Third Quarter of 2024 On December 31, 2024, Yunnan Tin Company Limited proposed profit distribution for the third quarter of 2024 as follows: Cash dividend/10 shares (tax included) of CNY 1.00000000. Announcement • Dec 31
Yunnan Tin Company Limited to Report Fiscal Year 2024 Results on Apr 03, 2025 Yunnan Tin Company Limited announced that they will report fiscal year 2024 results on Apr 03, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.25 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.25 in 3Q 2023). Revenue: CN¥10.4b (down 3.6% from 3Q 2023). Net income: CN¥483.6m (up 19% from 3Q 2023). Profit margin: 4.6% (up from 3.8% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Yunnan Tin Company Limited to Report Q3, 2024 Results on Oct 26, 2024 Yunnan Tin Company Limited announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥16.30, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 11% over the past three years. Price Target Changed • Aug 28
Price target decreased by 7.7% to CN¥19.59 Down from CN¥21.22, the current price target is an average from 4 analysts. New target price is 43% above last closing price of CN¥13.71. Stock is down 2.8% over the past year. The company is forecast to post earnings per share of CN¥1.27 for next year compared to CN¥0.86 last year. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.26 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.26 in 2Q 2023). Revenue: CN¥10.4b (down 11% from 2Q 2023). Net income: CN¥473.6m (up 13% from 2Q 2023). Profit margin: 4.6% (up from 3.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥13.65, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.55 per share. Declared Dividend • May 17
Dividend increased to CN¥0.26 Dividend of CN¥0.26 is 117% higher than last year. Ex-date: 22nd May 2024 Payment date: 22nd May 2024 Dividend yield will be 1.5%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 29% 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 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 16
Yunnan Tin Company Limited Announces Cash Dividend for A Shares of 2023, Payable on 22 May 2024 Yunnan Tin Company Limited announced cash dividend/10 shares (tax included) of CNY 2.60000000 for A shares of 2023. Record date is 21 May 2024. Ex-date is 22 May 2024. Payment date is 22 May 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.16 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.20 (up from CN¥0.16 in 1Q 2023). Revenue: CN¥8.40b (down 25% from 1Q 2023). Net income: CN¥326.3m (up 22% from 1Q 2023). Profit margin: 3.9% (up from 2.4% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Major Estimate Revision • Apr 18
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥50.6b to CN¥41.7b. EPS estimate fell from CN¥1.35 to CN¥1.28 per share. Net income forecast to grow 50% next year vs 34% growth forecast for Metals and Mining industry in China. Consensus price target up from CN¥17.96 to CN¥19.96. Share price rose 2.9% to CN¥17.50 over the past week. Reported Earnings • Apr 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.86 (up from CN¥0.82 in FY 2022). Revenue: CN¥42.4b (down 19% from FY 2022). Net income: CN¥1.41b (up 4.6% from FY 2022). Profit margin: 3.3% (up from 2.6% in FY 2022). The increase in margin was driven by lower expenses. Production and reserves: Zinc Production: 0.258 Mt (0.242 Mt in FY 2022) Copper Production: 30,625 t (31,637 t in FY 2022) Number of mines: 1 (1 in FY 2022) Silver Production: 5,337 troy koz Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 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 fallen by 10% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Mar 30
Yunnan Tin Company Limited to Report Q1, 2024 Results on Apr 26, 2024 Yunnan Tin Company Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥11.02, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Metals and Mining industry in China. Total loss to shareholders of 6.5% over the past three years. Announcement • Dec 30
Yunnan Tin Company Limited to Report Fiscal Year 2023 Results on Apr 12, 2024 Yunnan Tin Company Limited announced that they will report fiscal year 2023 results on Apr 12, 2024 New Risk • Nov 04
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.25 (vs CN¥0.11 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.25 (up from CN¥0.11 loss in 3Q 2022). Revenue: CN¥10.8b (down 4.4% from 3Q 2022). Net income: CN¥407.9m (up CN¥582.8m from 3Q 2022). Profit margin: 3.8% (up from net loss in 3Q 2022). Revenue is forecast to grow 6.5% 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 remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Sep 30
Yunnan Tin Company Limited to Report Q3, 2023 Results on Oct 27, 2023 Yunnan Tin Company Limited announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.26 (vs CN¥0.19 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.26 (up from CN¥0.19 in 2Q 2022). Revenue: CN¥11.7b (down 26% from 2Q 2022). Net income: CN¥420.2m (up 36% from 2Q 2022). Profit margin: 3.6% (up from 2.0% in 2Q 2022). Revenue is forecast to grow 6.7% 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 15% per year. Announcement • May 09
Yunnan Tin Company Limited Announces Final Dividend Implementation for A Shares for the Year 2022, Payable on 15 May 2023 Yunnan Tin Company Limited announced 2022 final profit distribution plan to be implemented (A shares): cash dividend of CNY 1.20000000 per ten shares (tax included). Record date: 12 May 2023. Ex-date: 15 May 2023. Payment date: 15 May 2023. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.85, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 101% over the past three years. Announcement • Feb 07
Yunnan Tin Company Limited Elects Chen Xiongjun and Li Dening as Non-Independent Directors; and Wang Daobin and Yu Dingming as Independent Directors Yunnan Tin Company Limited elected Chen Xiongjun and Li Dening as non-independent directors; and Wang Daobin and Yu Dingming as independent directors at the Extraordinary General Meeting held on February 3, 2023. Board Change • Nov 16
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Non-Independent Director Ji Li was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.11 loss per share (vs CN¥0.51 profit in 3Q 2021) Third quarter 2022 results: CN¥0.11 loss per share (down from CN¥0.51 profit in 3Q 2021). Revenue: CN¥11.3b (down 18% from 3Q 2021). Net loss: CN¥175.0m (down 121% from profit in 3Q 2021). Revenue is forecast to grow 4.7% 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 61% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 22
Second quarter 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.38 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.19 (down from CN¥0.38 in 2Q 2021). Revenue: CN¥15.8b (up 1.6% from 2Q 2021). Net income: CN¥309.6m (down 51% from 2Q 2021). Profit margin: 2.0% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.2%, compared to a 31% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
Yunnan Tin Company Limited (SZSE:000960) wins the bid to acquire 8.37% stake in Yunnan Hualian Zinc and Indium Co., Ltd. for CNY approximately CNY 980 million. Yunnan Tin Company Limited (SZSE:000960) wins the bid to acquire 8.37% stake in Yunnan Hualian Zinc and Indium Co., Ltd. for approximately CNY 980 million on August 1, 2022. Board Change • Aug 01
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Non-Independent Director Ji Li was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 02
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Non-Independent Director Ji Li was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 08
Yunnan Tin Company Limited Approves Board Appointments Yunnan Tin Company Limited approved the appointments of Liu Luke, Wu Jun and Li Ji as non-independent directors, at its 2nd Extraordinary General Meeting of 2022 held on 06 June 2022. Announcement • May 12
Yunnan Tin Company Limited Approves Final Cash Dividend for the Year 2021, Payable 17 May 2022 Yunnan Tin Company Limited announced that at its AGM held on May 06, 2022, shareholders approved the final cash dividend of CNY 1.10 per 10 A shares (tax included) for the year 2021. Record date is 16 May 2022. Ex-date is 17 May 2022. Payment date is 17 May 2022. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: CN¥0.74 (up from CN¥0.20 in 1Q 2021). Revenue: CN¥15.0b (up 8.1% from 1Q 2021). Net income: CN¥1.21b (up 268% from 1Q 2021). Profit margin: 8.0% (up from 2.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 8.9%, compared to a 34% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Vice Chairman Ruihan Cheng was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥18.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.31 per share. Reported Earnings • Apr 17
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: CN¥1.71 (up from CN¥0.42 in FY 2020). Revenue: CN¥53.8b (up 20% from FY 2020). Net income: CN¥2.82b (up 308% from FY 2020). Profit margin: 5.2% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Production and reserves: Zinc Production: 0.348 Mt (0.22 Mt in FY 2020) Proved and probable reserves (ore): 269 Mt (265 Mt in FY 2020) Copper Production: 35,500 t (38,330 t in FY 2020) Proved and probable reserves (ore): 269 Mt (265 Mt in FY 2020) Number of mines: 1 (1 in FY 2020) Silver Production: 6,333.7 troy koz (4,597.6 troy koz in FY 2020) Proved and probable reserves (ore): 269 Mt (265 Mt in FY 2020) Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 8.9%, compared to a 38% growth forecast for the mining industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥19.71, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥23.37, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥16.44, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 64% over the past three years. Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS CN¥0.51 (vs CN¥0.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥13.8b (up 4.3% from 3Q 2020). Net income: CN¥835.8m (up 228% from 3Q 2020). Profit margin: 6.1% (up from 1.9% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 25% per year. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥18.74, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 33% share price gain to CN¥21.71, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Metals and Mining industry in China. Total returns to shareholders of 110% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS CN¥0.38 (vs CN¥0.094 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥15.5b (up 18% from 2Q 2020). Net income: CN¥630.9m (up 309% from 2Q 2020). Profit margin: 4.1% (up from 1.2% 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 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥19.08, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥18.22, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥14.84, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 24% over the past three years. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.42 (vs CN¥0.51 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥44.8b (up 4.4% from FY 2019). Net income: CN¥690.4m (down 19% from FY 2019). Profit margin: 1.5% (down from 2.0% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Announcement • Mar 08
Yunnan Tin Company Limited to Report Fiscal Year 2020 Results on Apr 17, 2021 Yunnan Tin Company Limited announced that they will report fiscal year 2020 results on Apr 17, 2021 Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥13.48, the stock is trading at a trailing P/E ratio of 30.6x, down from the previous P/E ratio of 36.1x. This compares to an average P/E of 34x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 13%. 
