Valuation Update With 7 Day Price Move • just now
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to HK$2.74, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 8x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 209% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$3.24, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 9x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 283% over the past three years. Declared Dividend • Mar 29
Dividend of HK$0.014 announced Shareholders will receive a dividend of HK$0.014. Ex-date: 23rd June 2026 Payment date: 30th July 2026 Dividend yield will be 0.4%, which is lower than the industry average of 9.0%. Reported Earnings • Mar 27
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind 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 missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 1.6% growth forecast for the Oil and Gas industry in Hong Kong. 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 68% per year, which means it is well ahead of earnings. Announcement • Mar 27
CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026 CGN Mining Company Limited, Annual General Meeting, Jun 18, 2026. Announcement • Mar 16
CGN Mining Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 CGN Mining Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 Board Change • Mar 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. 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. Price Target Changed • Feb 02
Price target increased by 9.3% to HK$3.43 Up from HK$3.14, the current price target is an average from 7 analysts. New target price is 24% below last closing price of HK$4.49. Stock is up 177% over the past year. The company is forecast to post earnings per share of HK$0.055 for next year compared to HK$0.069 last year. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$3.35, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 9x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 311% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$2.79, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 10x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 251% over the past three years. Price Target Changed • Oct 08
Price target increased by 12% to HK$3.01 Up from HK$2.67, the current price target is an average from 8 analysts. New target price is 22% below last closing price of HK$3.86. Stock is up 137% over the past year. The company is forecast to post earnings per share of HK$0.07 for next year compared to HK$0.069 last year. Price Target Changed • Aug 29
Price target increased by 10% to HK$2.67 Up from HK$2.42, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of HK$2.77. Stock is up 79% over the past year. The company is forecast to post earnings per share of HK$0.07 for next year compared to HK$0.069 last year. Reported Earnings • Aug 27
First 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, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. 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 37% per year, which means it is well ahead of earnings. Announcement • Aug 15
CGN Mining Company Limited to Report First Half, 2025 Results on Aug 26, 2025 CGN Mining Company Limited announced that they will report first half, 2025 results on Aug 26, 2025 Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$2.58, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 250% over the past three years. Announcement • Jun 19
CGN Mining Company Limited Approves Final Cash Dividend for the Year Ended December 31, 2024 CGN 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. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to HK$2.13, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 181% over the past three years. Major Estimate Revision • Jun 07
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from HK$0.079 to HK$0.071 per share. Revenue forecast steady at HK$9.00b. Net income forecast to grow 18% next year vs 18% growth forecast for Oil and Gas industry in Hong Kong. Consensus price target up from HK$2.08 to HK$2.27. Share price rose 24% to HK$2.13 over the past week. Price Target Changed • Jun 06
Price target increased by 9.5% to HK$2.27 Up from HK$2.08, the current price target is an average from 7 analysts. New target price is 6.8% above last closing price of HK$2.13. Stock is down 25% over the past year. The company is forecast to post earnings per share of HK$0.071 for next year compared to HK$0.069 last year. New Risk • Jun 04
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 Hong Kong stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$1.80, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 144% over the past three years. Reported Earnings • Apr 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: HK$0.069 (up from HK$0.064 in FY 2023). Revenue: HK$8.62b (up 17% from FY 2023). Net income: HK$526.7m (up 8.2% from FY 2023). Profit margin: 6.1% (down from 6.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong 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 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 21
CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025 CGN Mining Company Limited, Annual General Meeting, Jun 19, 2025. Reported Earnings • Mar 21
Full year 2024 earnings: EPS and revenues miss analyst expectations 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 missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Hong Kong 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 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
CGN Mining Company Limited Announces Change of Independent Non-Executive Director and Composition of Board Committees The 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. Announcement • Mar 10
CGN Mining Company Limited to Report Fiscal Year 2024 Results on Mar 20, 2025 CGN Mining Company Limited announced that they will report fiscal year 2024 results on Mar 20, 2025 Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$1.53, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.01 per share. 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 HK$1.88, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 105% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.06 per share. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$1.94, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$1.68, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 70% over the past three years. New Risk • Sep 26
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 Hong Kong stocks, typically moving 9.6% 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: Major Risk Debt is not well covered by operating cash flow (7.0% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Profit margins are more than 30% lower than last year (5.1% net profit margin). Reported Earnings • Sep 25
First 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, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. 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 14% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from HK$9.39b to HK$8.99b. EPS estimate also fell from HK$0.127 per share to HK$0.078 per share. Net income forecast to grow 68% next year vs 12% growth forecast for Oil and Gas industry in Hong Kong. Consensus price target down from HK$2.52 to HK$2.38. Share price fell 5.4% to HK$1.57 over the past week. Reported Earnings • Aug 26
First 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, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 23
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Profit margins are more than 30% lower than last year (5.1% net profit margin). Announcement • Aug 22
CGN Mining Company Limited Approves Interim Dividend for the Six Months Ended 30 June 2024, Payable on 20 September 2024 CGN 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. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 167% over the past three years. Announcement • Aug 12
CGN Mining Company Limited to Report First Half, 2024 Results on Aug 22, 2024 CGN Mining Company Limited announced that they will report first half, 2024 results on Aug 22, 2024 Price Target Changed • May 07
Price target increased by 8.3% to HK$2.22 Up from HK$2.05, the current price target is an average from 6 analysts. New target price is 5.2% below last closing price of HK$2.34. Stock is up 179% over the past year. The company is forecast to post earnings per share of HK$0.14 for next year compared to HK$0.065 last year. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 186% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.39 per share. Reported Earnings • Apr 28
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 41%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Announcement • Apr 28
CGN Mining Company Limited, Annual General Meeting, Jun 20, 2024 CGN 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. New Risk • Mar 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.8% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 22
Full 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 7.8% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 33% per year. Announcement • Mar 12
CGN Mining Company Limited to Report Fiscal Year 2023 Results on Mar 21, 2024 CGN Mining Company Limited announced that they will report fiscal year 2023 results on Mar 21, 2024 Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.64, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 143% over the past three years. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$1.99, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 408% over the past three years. Price Target Changed • Dec 19
Price target increased by 8.6% to HK$1.86 Up from HK$1.71, the current price target is an average from 6 analysts. New target price is 7.3% above last closing price of HK$1.73. Stock is up 119% over the past year. The company is forecast to post earnings per share of HK$0.083 for next year compared to HK$0.072 last year. Price Target Changed • Dec 15
Price target increased by 9.9% to HK$1.79 Up from HK$1.63, the current price target is an average from 6 analysts. New target price is 7.2% above last closing price of HK$1.67. Stock is up 104% over the past year. The company is forecast to post earnings per share of HK$0.084 for next year compared to HK$0.072 last year. New Risk • Oct 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 Hong Kong stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risk Share price has been volatile over the past 3 months (9.9% average weekly change). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$1.42, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 385% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.13 per share. Price Target Changed • Sep 26
Price target increased by 10% to HK$1.55 Up from HK$1.40, the current price target is an average from 4 analysts. New target price is 22% above last closing price of HK$1.27. Stock is up 38% over the past year. The company is forecast to post earnings per share of HK$0.099 for next year compared to HK$0.072 last year. Major Estimate Revision • Sep 22
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from HK$6.85b to HK$6.15b. EPS estimate unchanged from HK$0.10 per share at last update. Oil and Gas industry in Hong Kong expected to see average net income growth of 21% next year. Consensus price target up from HK$1.40 to HK$1.50. Share price was steady at HK$1.18 over the past week. Reported Earnings • Aug 25
First 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 1.7% decline forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 40% per year. Announcement • Aug 18
CGN Mining Company Limited Announces Board Changes The 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. Announcement • Aug 15
CGN Mining Company Limited to Report First Half, 2023 Results on Aug 24, 2023 CGN Mining Company Limited announced that they will report first half, 2023 results on Aug 24, 2023 Announcement • Aug 12
CGN Mining Company Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 CGN 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. Announcement • May 23
CGN Mining Company Limited, Annual General Meeting, Jun 15, 2023 CGN 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. Price Target Changed • Apr 11
Price target increased by 14% to HK$1.42 Up from HK$1.25, the current price target is an average from 4 analysts. New target price is 69% above last closing price of HK$0.84. Stock is down 4.5% over the past year. The company is forecast to post earnings per share of HK$0.10 for next year compared to HK$0.072 last year. Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: HK$0.072 (up from HK$0.027 in FY 2021). Revenue: HK$3.65b (down 5.5% from FY 2021). Net income: HK$514.9m (up 189% from FY 2021). Profit margin: 14% (up from 4.6% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 43%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 2.8% decline forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 04
CGN Mining Company Limited Announces Environmental, Social and Governance Committee Appointments The 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 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 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.