Silvercorp Metals Management

Management criteria checks 2/4

Silvercorp Metals' CEO is Rui Feng, appointed in Sep 2003, has a tenure of 20.67 years. total yearly compensation is $3.68M, comprised of 24.4% salary and 75.6% bonuses, including company stock and options. directly owns 3.52% of the company’s shares, worth €18.57M. The average tenure of the management team and the board of directors is 1.7 years and 12.3 years respectively.

Key information

Rui Feng

Chief executive officer

US$3.7m

Total compensation

CEO salary percentage	24.4%
CEO tenure	20.7yrs
CEO ownership	3.5%
Management average tenure	1.7yrs
Board average tenure	12.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Rui Feng's remuneration changed compared to Silvercorp Metals's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	US$31m
Sep 30 2023	n/a	n/a	US$32m
Jun 30 2023	n/a	n/a	US$20m
Mar 31 2023	US$4m	US$900k	US$21m
Dec 31 2022	n/a	n/a	US$24m
Sep 30 2022	n/a	n/a	US$17m
Jun 30 2022	n/a	n/a	US$29m
Mar 31 2022	US$3m	US$858k	US$31m
Dec 31 2021	n/a	n/a	US$34m
Sep 30 2021	n/a	n/a	US$37m
Jun 30 2021	n/a	n/a	US$43m
Mar 31 2021	US$3m	US$743k	US$46m
Dec 31 2020	n/a	n/a	US$43m
Sep 30 2020	n/a	n/a	US$40m
Jun 30 2020	n/a	n/a	US$37m
Mar 31 2020	US$3m	US$743k	US$34m
Dec 31 2019	n/a	n/a	US$43m
Sep 30 2019	n/a	n/a	US$46m
Jun 30 2019	n/a	n/a	US$41m
Mar 31 2019	US$2m	US$743k	US$40m
Dec 31 2018	n/a	n/a	US$40m
Sep 30 2018	n/a	n/a	US$44m
Jun 30 2018	n/a	n/a	US$47m
Mar 31 2018	US$2m	US$705k	US$47m

Compensation vs Market: Rui's total compensation ($USD3.68M) is above average for companies of similar size in the German market ($USD1.04M).

Compensation vs Earnings: Rui's compensation has been consistent with company performance over the past year.

CEO

Rui Feng (60 yo)

20.7yrs

Tenure

US$3,681,445

Compensation

Dr. Rui Feng, Ph. D. (Geo), has been Director of Tincorp Metals Inc. (formerly known as Whitehorse Gold Corp.) since May 5, 2021. He was a Director of New Pacific Metals Corp. since May 2004 until December...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Rui Feng	Chairman & CEO	20.7yrs	US$3.68m	3.52% $ 18.6m
Lon Shaver	President	less than a year	US$452.49k	0.091% $ 479.1k
Zhihua Liu	Chief Financial Officer	9.3yrs	US$639.53k	0.12% $ 617.2k
Lichang Peng	General Manager of China Operations	1.7yrs	US$306.41k	no data
Yongming Zhang	Vice President of Exploration	no data	US$117.74k	no data
Y Wang	Chief Environment Engineer of Ying Mines	no data	no data	no data
Leon Ma	Senior Resources Geologist	no data	no data	no data
Luke Sun	Controller	less than a year	no data	no data

1.7yrs

Average Tenure

Experienced Management: S9Y's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Rui Feng	Chairman & CEO	20.7yrs	US$3.68m	3.52% $ 18.6m
Stephen Simpson	Lead Independent Director	20.9yrs	US$245.72k	0.65% $ 3.4m
Yikang Liu	Independent Director	17.8yrs	US$208.98k	0.062% $ 325.2k
Hongyu Cai	Independent Director	less than a year	no data	no data
Marina Katusa	Independent Director	6.7yrs	US$195.38k	0.093% $ 491.2k
Ken Robertson	Independent Director	1.7yrs	US$98.31k	0.0052% $ 27.3k

12.3yrs

Average Tenure

63yo

Average Age

Experienced Board: S9Y's board of directors are seasoned and experienced ( 12.3 years average tenure).

Silvercorp Metals Management

Management criteria checks 2/4

Key information

Recent management updates

Chairman & CEO recently sold €175k worth of stock

Silvercorp Metals Inc. Appoints Helen Cai to Its Board as an Independent Director

Silvercorp Metals Inc. Announces David Kong Did Not Stand for Re-Election as A Director

Silvercorp Metals Inc. Promotes Lon Shaver to President

Silvercorp Metals Inc., Annual General Meeting, Sep 29, 2023

High number of new directors

Recent updates

Silvercorp Metals Inc. (TSX:SVM) entered into an agreement to acquire Adventus Mining Corporation (TSXV:ADZN) for CAD 89.5 million.

Silvercorp Metals Inc. to Report Fiscal Year 2024 Results on May 23, 2024

Chairman & CEO recently sold €175k worth of stock

Investor sentiment improves as stock rises 16%

New major risk - Revenue and earnings growth

Third quarter 2024 earnings released: EPS: US$0.059 (vs US$0.067 in 3Q 2023)

Silvercorp Metals Inc. Provides Production Guidance for the Fourth Quarter of Fiscal 2024

Silvercorp Metals Inc. Appoints Helen Cai to Its Board as an Independent Director

Silvercorp Metals Inc. Reports High-Grade Silver Drill Results At the Tlp Mine

Silvercorp Metals Inc. to Report Q3, 2024 Results on Feb 08, 2024

Silvercorp Metals Inc. Reports High-Grade Gold-Silver-Lead-Zinc Drill Results from the HPG Mine

Investor sentiment improves as stock rises 25%

Upcoming dividend of US$0.013 per share at 1.2% yield

Second quarter 2024 earnings released: EPS: US$0.062 (vs US$0.01 loss in 2Q 2023)

Silvercorp Metals Inc. Declares Semi-Annual Dividend, Payable on or Before December 15, 2023

New minor risk - Share price stability

Silvercorp Metals Inc. to Report Q2, 2024 Results on Nov 09, 2023

Silvercorp Metals Inc. Announces David Kong Did Not Stand for Re-Election as A Director

Silvercorp Metals Inc. Promotes Lon Shaver to President

First quarter 2024 earnings released: EPS: US$0.052 (vs US$0.057 in 1Q 2023)

Silvercorp Metals Inc. (TSX:SVM) agreed to acquire OreCorp Limited (ASX:ORR) from Rollason Pty Ltd. and others for approximately AUD240 million.

Silvercorp Metals Inc., Annual General Meeting, Sep 29, 2023

Silvercorp Metals Inc. to Report Q1, 2024 Results on Aug 03, 2023

Silvercorp Metals Inc. Reports High-Grade Silver-Lead Drill Results from the SGX Mine

Silvercorp Metals Inc. Reports Assay Results from Its Ongoing Diamond Drilling Program At the LMW Mine Within the Ying Mining District, China

Upcoming dividend of US$0.013 per share at 0.8% yield

Silvercorp Metals Inc. Declares Semi-Annual Dividend, Payable on or Before June 29, 2023

Full year 2023 earnings released: EPS: US$0.12 (vs US$0.17 in FY 2022)

Silvercorp Metals Inc. (TSX:SVM) signed Non-Binding Term Sheet to acquire Celsius Resources Limited (ASX:CLA) for AUD

Investor sentiment improves as stock rises 18%

Third quarter 2023 earnings released: EPS: US$0.067 (vs US$0.029 in 3Q 2022)

Silvercorp Metals Inc. to Report Q3, 2023 Results on Feb 09, 2023

Now 22% undervalued

Upcoming dividend of US$0.013 per share

Silvercorp Metals Inc. Declares Semi-Annual Dividend, Payable on or Before December 16, 2022

Second quarter 2023 earnings released: US$0.01 loss per share (vs US$0.053 profit in 2Q 2022)

High number of new directors

Silvercorp Metals Inc. to Report Q2, 2023 Results on Nov 03, 2022

Silvercorp Metals Inc. Intercepts New High-Grade Structures At LMW Mine, Ying Mining Distrct, China, Including Vein LM26: 5.39 Metres True Width Grading 2,896 Grams Per Tonne Silver and 2.58% Copper

Investor sentiment improved over the past week

Silvercorp Metals Inc. Appoints Ken Robertson to the Board of Directors

Investor sentiment deteriorated over the past week

First quarter 2023 earnings released: EPS: US$0.057 (vs US$0.069 in 1Q 2022)

Investor sentiment improved over the past week

Silvercorp Metals Inc., Annual General Meeting, Sep 30, 2022

Silvercorp Metals Inc. to Report Q1, 2023 Results on Aug 11, 2022

Full year 2022 earnings released: EPS: US$0.17 (vs US$0.27 in FY 2021)

Silvercorp Declares Semi-Annual Dividend, Payable on or Before June 24, 2022

Insufficient new directors

Silvercorp Metals Inc. Reiterates Production Guidance for the Year 2023

Silvercorp Metals Inc. Provides Updates to the Construction Plan and Progress on Its New 3,000 Tonne Per Day Mill and Associated Tailings Storage Facility for the Ying Mining District

Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat

Silvercorp Metals Inc. Provides Production Guidance for Fiscal 2023

Now 20% undervalued after recent price drop

Silvercorp Reports 2021 Drilling At TLP Mine Hits Multiple High-Grade Silver and Gold Zones

Silvercorp Metals Inc. Reports Additional High-Grade Intercepts from Its 2021 Exploration Program At the SGX Mine

Silvercorp Metals Inc. Intersects 1.64 Metres True Width Grading 24.66 Grams Per Tonne Gold, 56 Grams Per Tonne Silver, 3.28% Lead, and 2.12% Zinc from Vein H16 At the Hpg Mine

Chairman & CEO recently sold €176k worth of stock

Upcoming dividend of US$0.013 per share

Chairman & CEO recently sold €407k worth of stock

Second quarter 2022 earnings released: EPS US$0.053 (vs US$0.089 in 2Q 2021)

Silvercorp Metals Inc. Reports Increased Reserves and Resources At the GC Mine

Vice President recently sold €89k worth of stock

Silvercorp Metals Inc. Reports Results from Its Exploration Programs At the GC Silver-Lead-Zinc Mine, Guangdong Province, China

First quarter 2022 earnings released: EPS US$0.069 (vs US$0.089 in 1Q 2021)

Silvercorp Metals Inc. Provides Production Guidance for the Fiscal Year 2022

Silvercorp Intersects Vein Lm5 with 0.91 Metres True Width Grading 6,455 Grams Per Tonne Silver and 10 Grams Per Tonne Gold At the Lme Mine, Ying Mining District, China

Silvercorp Metals Inc. Intersects Vein H17_1 With 1.21 Metres True Width Grading 20.8 Grams Per Tonne Gold and 64 Grams Per Tonne Silver at the HPG Mine, Ying Mining District, China

Silvercorp Metals Inc. Report Results from its 2021 Exploration Programs at the Tlp Mine, Ying Mining District, Henan Province, China