Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥26.50, 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 194% over the past three years. Declared Dividend • Jun 08
Dividend of CN¥0.30 announced Shareholders will receive a dividend of CN¥0.30. Ex-date: 11th June 2026 Payment date: 11th June 2026 Dividend yield will be 1.2%, 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 (41% cash payout ratio). The dividend has increased by an average of 26% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 10
Hunan Gold Corporation Limited, Annual General Meeting, Apr 30, 2026 Hunan Gold Corporation Limited, Annual General Meeting, Apr 30, 2026, at 15:30 China Standard Time. Location: 17F, No. 217, Renmin East Road 2nd Section, Changsha Economic and Technological Development Zone, Hunan China Reported Earnings • Apr 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.95 (up from CN¥0.54 in FY 2024). Revenue: CN¥50.2b (up 80% from FY 2024). Net income: CN¥1.49b (up 76% from FY 2024). Profit margin: 3.0% (in line with FY 2024). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 1.2%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Hunan Gold Corporation Limited to Report Q1, 2026 Results on Apr 27, 2026 Hunan Gold Corporation Limited announced that they will report Q1, 2026 results on Apr 27, 2026 Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥37.70, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 25x in the Metals and Mining industry in China. Total returns to shareholders of 193% over the past three years. New Risk • Jan 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: 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 (7.4% average weekly change). Price Target Changed • Jan 26
Price target increased by 118% to CN¥27.32 Up from CN¥12.55, the current price target is provided by 1 analyst. New target price is 19% above last closing price of CN¥22.97. Stock is up 74% over the past year. The company is forecast to post earnings per share of CN¥0.96 for next year compared to CN¥0.54 last year. Announcement • Dec 31
Hunan Gold Corporation Limited to Report Fiscal Year 2025 Results on Apr 10, 2026 Hunan Gold Corporation Limited announced that they will report fiscal year 2025 results on Apr 10, 2026 New Risk • Nov 19
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 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: 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 (7.4% average weekly change). Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.24 (vs CN¥0.15 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.24 (up from CN¥0.15 in 3Q 2024). Revenue: CN¥12.8b (up 118% from 3Q 2024). Net income: CN¥373.2m (up 63% from 3Q 2024). Profit margin: 2.9% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% 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 increased by 38% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Hunan Gold Corporation Limited to Report Q3, 2025 Results on Oct 28, 2025 Hunan Gold Corporation Limited announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: CN¥0.20 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.20 (up from CN¥0.17 in 2Q 2024). Revenue: CN¥15.3b (up 109% from 2Q 2024). Net income: CN¥323.3m (up 17% from 2Q 2024). Profit margin: 2.1% (down from 3.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% 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 increased by 34% per year whereas the company’s share price has increased by 30% per year. Announcement • Jul 02
Hunan Gold Corporation Limited to Report First Half, 2025 Results on Aug 26, 2025 Hunan Gold Corporation Limited announced that they will report first half, 2025 results on Aug 26, 2025 Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥18.82, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.48 per share. Declared Dividend • Jun 11
Dividend increased to CN¥0.23 Dividend of CN¥0.23 is 77% higher than last year. Ex-date: 13th June 2025 Payment date: 13th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 21% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 131% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 12
Hunan Gold Corporation Limited Announces Final Cash Dividend for 2024 Hunan Gold Corporation Limited announced on 11 April 2025 the profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY 2.3. Reported Earnings • Apr 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥0.70 (up from CN¥0.41 in FY 2023). Revenue: CN¥27.8b (up 20% from FY 2023). Net income: CN¥846.5m (up 73% from FY 2023). Profit margin: 3.0% (up from 2.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 9.4%. Revenue is forecast to grow 6.9% 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 increased by 26% per year whereas the company’s share price has increased by 27% per year. Announcement • Apr 11
Hunan Gold Corporation Limited, Annual General Meeting, May 07, 2025 Hunan Gold Corporation Limited, Annual General Meeting, May 07, 2025, at 15:30 China Standard Time. Location: 17F, No. 217, Renmin East Road 2nd Section, Changsha Economic and Technological Development Zone, Hunan China Announcement • Mar 31
Hunan Gold Corporation Limited to Report Q1, 2025 Results on Apr 23, 2025 Hunan Gold Corporation Limited announced that they will report Q1, 2025 results on Apr 23, 2025 Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥19.92, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 63% over the past three years. New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.6% 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 (8.6% average weekly change). Announcement • Dec 31
Hunan Gold Corporation Limited to Report Fiscal Year 2024 Results on Apr 11, 2025 Hunan Gold Corporation Limited announced that they will report fiscal year 2024 results on Apr 11, 2025 Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥18.40, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 74% over the past three years. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.19 (vs CN¥0.089 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.19 (up from CN¥0.089 in 3Q 2023). Revenue: CN¥5.85b (up 1.4% from 3Q 2023). Net income: CN¥228.7m (up 119% from 3Q 2023). Profit margin: 3.9% (up from 1.8% in 3Q 2023). Revenue is forecast to grow 8.7% 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 increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Hunan Gold Corporation Limited to Report Q3, 2024 Results on Oct 29, 2024 Hunan Gold Corporation Limited announced that they will report Q3, 2024 results on Oct 29, 2024 Major Estimate Revision • Sep 02
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥26.6b to CN¥28.2b. EPS estimate increased from CN¥0.578 to CN¥0.727 per share. Net income forecast to grow 53% next year vs 42% growth forecast for Metals and Mining industry in China. Consensus price target of CN¥15.78 unchanged from last update. Share price fell 2.0% to CN¥15.59 over the past week. Reported Earnings • Aug 27
First half 2024 earnings released: EPS: CN¥0.36 (vs CN¥0.23 in 1H 2023) First half 2024 results: EPS: CN¥0.36 (up from CN¥0.23 in 1H 2023). Revenue: CN¥15.1b (up 17% from 1H 2023). Net income: CN¥438.1m (up 57% from 1H 2023). Profit margin: 2.9% (up from 2.2% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% 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 increased by 21% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥17.04, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 107% over the past three years. Announcement • Jun 29
Hunan Gold Corporation Limited to Report First Half, 2024 Results on Aug 27, 2024 Hunan Gold Corporation Limited announced that they will report first half, 2024 results on Aug 27, 2024 Declared Dividend • Jun 07
Dividend increased to CN¥0.13 Dividend of CN¥0.13 is 30% higher than last year. Ex-date: 14th June 2024 Payment date: 14th June 2024 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 (32% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
Hunan Gold Corporation Limited Announces Cash Dividend (Tax Included) (A Shares) for the Year 2023, Payable on 14 June 2024 Hunan Gold Corporation Limited announced Cash dividend (tax included) (A shares) for the year 2023 of CNY 1.30000000 per 10 shares. The dividend will be payable on 14 June 2024 with Record date of 13 June 2024 and Ex-date of 14 June 2024. New Risk • May 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.6% 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 (8.6% average weekly change). Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥21.67, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 162% over the past three years. Announcement • May 16
Hunan Gold Corporation Limited Approves Election of Directors Hunan Gold Corporation Limited held its 2nd Extraordinary General Meeting of 2024 on 14 May 2024 were approved election of Chen Zelv, non-independent director, He Yongmiao, non-independent director, Chen Aiwen, independent director, Li Xibing, independent director and Zhong Jiong, non-employee supervisor. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥14.29, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 78% over the past three years. Major Estimate Revision • Apr 01
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥26.7b to CN¥26.1b. EPS estimate also fell from CN¥0.63 per share to CN¥0.52 per share. Net income forecast to grow 29% next year vs 35% growth forecast for Metals and Mining industry in China. Consensus price target of CN¥14.49 unchanged from last update. Share price rose 7.5% to CN¥13.69 over the past week. Announcement • Mar 30
Hunan Gold Corporation Limited to Report Q1, 2024 Results on Apr 27, 2024 Hunan Gold Corporation Limited announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Mar 26
Hunan Gold Corporation Limited, Annual General Meeting, Apr 15, 2024 Hunan Gold Corporation Limited, Annual General Meeting, Apr 15, 2024, at 15:30 China Standard Time. Location: 17F, No. 217, Renmin East Road 2nd Section, Changsha Economic and Technological Development Zone, Hunan China Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥0.41 (vs CN¥0.36 in FY 2022) Full year 2023 results: EPS: CN¥0.41 (up from CN¥0.36 in FY 2022). Revenue: CN¥23.3b (up 11% from FY 2022). Net income: CN¥498.6m (up 14% from FY 2022). Profit margin: 2.1% (in line with FY 2022). Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
Hunan Gold Corporation Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Hunan Gold Corporation Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Price Target Changed • Dec 28
Price target decreased by 20% to CN¥13.72 Down from CN¥17.16, the current price target is provided by 1 analyst. New target price is 23% above last closing price of CN¥11.13. Stock is down 14% over the past year. The company is forecast to post earnings per share of CN¥0.52 for next year compared to CN¥0.36 last year. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.089 (vs CN¥0.07 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.089 (up from CN¥0.07 in 3Q 2022). Revenue: CN¥5.77b (up 12% from 3Q 2022). Net income: CN¥104.7m (up 25% from 3Q 2022). Profit margin: 1.8% (up from 1.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Hunan Gold Corporation Limited to Report Q3, 2023 Results on Oct 27, 2023 Hunan Gold Corporation Limited announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.14 in 2Q 2022). Revenue: CN¥7.31b (up 41% from 2Q 2022). Net income: CN¥173.1m (flat on 2Q 2022). Profit margin: 2.4% (down from 3.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% 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 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Hunan Gold Corporation Limited to Report First Half, 2023 Results on Aug 22, 2023 Hunan Gold Corporation Limited announced that they will report first half, 2023 results on Aug 22, 2023 Announcement • Jun 08
Hunan Gold Corporation Limited Announces Final Dividend on Share A for 2022, Payable on June 14, 2023 Hunan Gold Corporation Limited announced Cash dividend/10 shares (tax included): CNY 1.00000000 on share A for 2022. Record date: 13 June 2023, Ex-date: 14 June 2023, Payment date: 14 June 2023. Reported Earnings • Mar 29
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.36 (up from CN¥0.30 in FY 2021). Revenue: CN¥21.0b (up 6.0% from FY 2021). Net income: CN¥437.4m (up 20% from FY 2021). Profit margin: 2.1% (up from 1.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥16.89, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 133% over the past three years. Price Target Changed • Nov 16
Price target increased to CN¥15.18 Up from CN¥11.30, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥15.36. Stock is up 50% over the past year. The company is forecast to post earnings per share of CN¥0.39 for next year compared to CN¥0.30 last year. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Director Ze Lu Chen is the most experienced director on the board, commencing their role in 2013. Independent Director Liang Gan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥29.7b to CN¥28.5b. EPS estimate also fell from CN¥0.45 per share to CN¥0.39 per share. Net income forecast to grow 37% next year vs 53% growth forecast for Metals and Mining industry in China. Consensus price target of CN¥15.18 unchanged from last update. Share price fell 5.0% to CN¥13.22 over the past week. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.07 (vs CN¥0.08 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.07 (down from CN¥0.08 in 3Q 2021). Revenue: CN¥5.14b (down 3.0% from 3Q 2021). Net income: CN¥83.6m (down 12% from 3Q 2021). Profit margin: 1.6% (down from 1.8% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.091 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.14 (up from CN¥0.091 in 2Q 2021). Revenue: CN¥5.19b (up 11% from 2Q 2021). Net income: CN¥173.0m (up 61% from 2Q 2021). Profit margin: 3.3% (up from 2.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 34%, compared to a 32% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥11.39, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 19% over the past three years. Announcement • May 31
Hunan Gold Corporation Limited Announces Cash Dividend, Payable on 08 June 2022 Hunan Gold Corporation Limited announced 2021 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 0.60000000. Record date as 07 June 2022, ex-date as 08 June 2022 and payment date as 08 June 2022. Reported Earnings • Apr 27
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.08 (up from CN¥0.06 in 1Q 2021). Revenue: CN¥5.83b (up 47% from 1Q 2021). Net income: CN¥93.6m (up 27% from 1Q 2021). Profit margin: 1.6% (down from 1.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 36%. Over the next year, revenue is forecast to grow 36%, compared to a 35% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Ze Lu Chen is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥10.32, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 26% over the past three years. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.30 (up from CN¥0.19 in FY 2020). Revenue: CN¥19.8b (up 32% from FY 2020). Net income: CN¥362.3m (up 61% from FY 2020). Profit margin: 1.8% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 36%. Over the next year, revenue is expected to shrink by 12% compared to a 10,607% growth forecast for the mining industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.08 (vs CN¥0.09 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥5.30b (up 49% from 3Q 2020). Net income: CN¥95.2m (down 15% from 3Q 2020). Profit margin: 1.8% (down from 3.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% 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 • Sep 10
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥16.30, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 21x in the Metals and Mining industry in China. Total returns to shareholders of 155% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS CN¥0.091 (vs CN¥0.12 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥4.68b (up 24% from 2Q 2020). Net income: CN¥107.3m (down 17% from 2Q 2020). Profit margin: 2.3% (down from 3.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% 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 18% share price gain to CN¥9.92, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 56% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.03 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥3.96b (up 5.5% from 1Q 2020). Net income: CN¥74.1m (up CN¥112.3m from 1Q 2020). Profit margin: 1.9% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Major Estimate Revision • Mar 29
Consensus revenue estimates fall to CN¥19.3b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from CN¥27.4b to CN¥19.3b. EPS estimate fell from CN¥0.39 to CN¥0.29 per share. Net income forecast to grow 54% next year vs 41% growth forecast for Metals and Mining industry in China. Consensus price target of CN¥10.10 unchanged from last update. Share price fell 9.8% to CN¥8.06 over the past week. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥15.0b (up 8.7% from FY 2019). Net income: CN¥225.1m (up 41% from FY 2019). Profit margin: 1.5% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥15.0b (up 8.7% from FY 2019). Net income: CN¥225.1m (up 41% from FY 2019). Profit margin: 1.5% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings miss expectations Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 32%. Over the next year, revenue is forecast to grow 83%, compared to a 16% growth forecast for the Metals and Mining industry in China. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥8.89, the stock is trading at a trailing P/E ratio of 39.9x, up from the previous P/E ratio of 34.2x. This compares to an average P/E of 36x in the Metals and Mining industry in China. Total returns to shareholders over the past three years are 4.2%. Is New 90 Day High Low • Feb 23
New 90-day high: CN¥8.89 The company is up 2.0% from its price of CN¥8.70 on 25 November 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 16% over the same period. Announcement • Feb 20
Hunan Gold Corporation Limited to Report Fiscal Year 2020 Results on Mar 23, 2021 Hunan Gold Corporation Limited announced that they will report fiscal year 2020 results on Mar 23, 2021 Is New 90 Day High Low • Jan 28
New 90-day low: CN¥7.75 The company is down 7.0% from its price of CN¥8.31 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥8.01 The company is down 11% from its price of CN¥8.97 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥8.24 The company is down 9.0% from its price of CN¥9.03 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: CN¥8.31 The company is down 15% from its price of CN¥9.75 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 7.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥262.5m, up 37% from the prior year. Total revenue was CN¥13.6b over the last 12 months, down 3.7% from the prior year. Announcement • Oct 20
Hunan Gold Corporation Limited to Report Q3, 2020 Results on Oct 27, 2020 Hunan Gold Corporation Limited announced that they will report Q3, 2020 results on Oct 27, 2020 Announcement • Aug 02
Hunan Gold Corporation Limited to Report First Half, 2020 Results on Aug 25, 2020 Hunan Gold Corporation Limited announced that they will report first half, 2020 results on Aug 25, 2020