Announcement • Apr 29
CMOC Group Limited Approves Final Dividend for the Financial Year End 31 December 2025, Payable on 24 June 2026 CMOC Group Limited at its 2025 annual general meeting, the 2026 first class meeting of A Shareholders and the 2026 first class meeting of H Shareholders held on 28 April 2026, Company will pay a Final Dividend of RMB 0.286 per Share (tax inclusive) for the year ended 31 December 2025 to H Shareholders whose names appeared on the register of members of H Shares of the Company (the ‘H Shares Register of Members’) on 26 May 2026 (the ‘Reference Date’). The actual amount of H Shares dividend paid in Hong Kong dollars is calculated based on the average of the central parity rate of Renminbi against Hong Kong dollar as announced by the People's Bank of China one calendar week immediately preceding 28 April 2026, the date of the AGM at which the Final Dividend is declared, (i.e. RMB 0.876156 against HKD 1.00), being a cash dividend of HKD 0.32643 per H Share (tax inclusive). In order to determine the list of H Shareholders who are entitled to receive the Final Dividend, the H Shares Register of Members will be closed from 20 May 2026 to 26 May 2026 (both days inclusive), during which period no transfer of H Shares will be effected. H Shareholders whose names appear on the H Shares Register of Members on the Reference Date (i.e. 26 May 2026) will be entitled to receive the Final Dividend. In order for the H Shareholders to qualify for receiving the Final Dividend, H Shareholders whose H Shares are not registered in their names should complete and lodge their respective instruments of transfer together with the relevant H Share certificates with Computershare Hong Kong Investor Services Limited, the Company's H Share registrar in Hong Kong, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, and in any case no later than 4:30 p.m. on 19 May 2026. The Company will appoint a receiving agent in Hong Kong (the ‘Receiving Agent’) and will pay to such Receiving Agent the Final Dividend declared for payment to H Shareholders. The Final Dividend will be paid by the Receiving Agent on 24 June 2026. Announcement • Apr 08
CMOC Group Limited, Annual General Meeting, Apr 28, 2026 CMOC Group Limited, Annual General Meeting, Apr 28, 2026, at 13:30 China Standard Time. Location: conference room 4, 2nd floor, international hotel luoyang, no. 239 kaiyuan street, luolong district, luoyang city, henan province, China Announcement • Mar 30
CMOC Group Limited to Report Q1, 2026 Results on Apr 25, 2026 CMOC Group Limited announced that they will report Q1, 2026 results on Apr 25, 2026 Announcement • Mar 28
CMOC Group Limited Proposes Final Ordinary Dividend for the Financial Year End 31 December 2025 CMOC Group Limited proposed final ordinary dividend of RMB 2.86 per 10 share for the financial year end 31 December 2025. Announcement • Jan 24
CMOC Group Limited (SHSE:603993) acquired Aurizona Mine, RDM Mine and Bahia Complex in Brazil of Equinox Gold Corp. (TSX:EQX). CMOC Group Limited (SHSE:603993) agreed to acquire Aurizona Mine, RDM Mine and Bahia Complex in Brazil of Equinox Gold Corp. (TSX:EQX) for $1.0 billion on December 13, 2025. A cash consideration of $900 million will be paid by CMOC Group Limited. CMOC Group Limited will pay an earnout/contingent payment of $115 million cash following the one-year anniversary of closing if certain production thresholds are met such as 12.5% of revenue for production between 200,000 and 280,000 ounces and $115 million if production equals or exceeds 280,000 ounces. As part of consideration, $1.01 billion is paid towards assets of Aurizona Mine, RDM Mine and Bahia Complex in Brazil. The transaction will be funded by cash in hand.
Closing is expected in the first quarter of 2026, subject to regulatory approvals and other customary conditions and pre-closing reorganize.
The proceeds from transaction will be used to fully repay $500 million Term Loan and $300 million Sprott Loan, and reducing revolving credit facility. Following close of the Transaction, Equinox Gold’s production platform will consist of the Valentine and Greenstone mines in Canada, the Mesquite mine in California, and the El Limón and Libertad mines in Nicaragua. As of December 15, 2025, CMOC Group Limited's board of directors have approved the transaction.
BMO Capital Markets acted as financial advisor for Equinox Gold Corp. BMO Capital Markets acted as fairness opinion provider for Equinox Gold Corp. Blake, Cassels & Graydon LLP led by Bob Wooder, Steven McKoen, Arina Polyachek acted as legal advisor for Equinox Gold Corp. Pedro A. Garcia, Beatriz Paulo de Frontin, Leonardo Maniglia Duarte and Ian de Porto Alegre Muniz, Maria Cecília Vieira,Elisa Rezende of Veirano Advogados acted as legal advisor for Equinox Gold Corp. Canaccord Genuity Corp. acted as financial advisor for CMOC Group Limited. McCarthy Tétrault LLP led by Roger Taplin and Shawn Doyle acted as legal advisor for CMOC Group Limited. Claudio Oksenberg, Adriano Drummond Trindade, Thais Rodrigues, Paula Camara, Antonio Augusto Reis of Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados acted as legal advisor for CMOC Group Limited. Daniella Dimitrov, Jacqlin Anthony, Erik Coates In-house counsel to Equinox advised in the transaction.
CMOC Group Limited (SHSE:603993) completed the acquisition of Aurizona Mine, RDM Mine and Bahia Complex in Brazil of Equinox Gold Corp. (TSX:EQX) on January 23, 2026. Announcement • Jan 16
CMOC Group Limited Provides Preliminary Unaudited Earnings Guidance for the Year Ended 31 December 2025 CMOC Group Limited provided preliminary unaudited earnings guidance for the year ended 31 December 2025. For the year, the company expects net profit attributable to shareholders of the Company will be between RMB 20,000 million to RMB 20,800 million, representing an increase of RMB 6,468 million to RMB 7,268 million, or 47.80% to 53.71% as compared with the same period of last year. Net profit attributable to the shareholders of the Company after deduction of non-recurring loss/profit will be between RMB 20,400 million to RMB 21,200 million, representing an increase of RMB 7,281 million to RMB 8,081 million, or 55.50% to 61.60% as compared with the same period of last year. The significant increase in the results of the Company for the year of 2025 as compared with the same period of last year is attributable to the increase in both the sales volume and prices of the Company's major products, which, coupled with the effective control of operating costs. Announcement • Dec 26
CMOC Group Limited to Report Fiscal Year 2025 Results on Mar 28, 2026 CMOC Group Limited announced that they will report fiscal year 2025 results on Mar 28, 2026 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to HK$15.69, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 444% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$17.97 per share. Announcement • Sep 30
CMOC Group Limited to Report Q3, 2025 Results on Oct 25, 2025 CMOC Group Limited announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.15 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.23 (up from CN¥0.15 in 2Q 2024). Revenue: CN¥48.8b (down 14% from 2Q 2024). Net income: CN¥4.73b (up 41% from 2Q 2024). Profit margin: 9.7% (up from 5.9% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 42% per year. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$9.18, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 164% over the past three years. Announcement • Jul 17
CMOC Group Limited Provides Preliminary Earnings Guidance for the the First Half from 1 January 2025 to 30 June 2025 The board of directors of CMOC Group Limited announced that based on the preliminary estimation by the financial department of the Company, during the period of advance notice for results from 1 January 2025 to 30 June 2025, the company estimated that the net profit attributable to shareholders of the Company for the first half of 2025 will be RMB 8,200 million to RMB 9,100 million, representing an increase of RMB 2,783 million to RMB 3,683 million, or 51.37% to 67.98% as compared with the same period of last year. It is estimated that the net profit attributable to the shareholders of the Company after deduction of non-recurring loss/profit for the first half of 2025 will be RMB 8,300 million to RMB 9,200 million, representing an increase of RMB 2,675 million to RMB 3,575 million, or 47.55% to 63.55% as compared with the same period of last year. For the first half of 2025, the output of the Company's copper and cobalt mineral products recorded an increase, and the comprehensive economies of scale gradually emerged. The output of copper metal was 353,570 tonnes, representing an increase of 12.68% as compared with the same period of last year; the output of cobalt metal was 61,073 tonnes, representing an increase of 13.05% as compared with the same period of last year. The significant increase in the results of the Company for the first half of 2025 as compared with the same period of last year is attributable to the increase in the selling prices of the major products copper and cobalt and the increase in the output and sales of copper products as compared with the same period of last year. Announcement • Jun 30
CMOC Group Limited to Report First Half, 2025 Results on Aug 23, 2025 CMOC Group Limited announced that they will report first half, 2025 results on Aug 23, 2025 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$7.98, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 98% over the past three years. Announcement • Jun 24
CMOC Group Limited(SHSE:603993) dropped from Shanghai Stock Exchange 180 Value Index China Molybdenum Co., Ltd. has been removed from Shanghai Stock Exchange 180 Value Index. Declared Dividend • Jun 04
Dividend of HK$0.28 announced Shareholders will receive a dividend of HK$0.28. Ex-date: 19th June 2025 Payment date: 18th July 2025 Dividend yield will be 4.2%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.10 in 1Q 2024). Revenue: CN¥46.0b (flat on 1Q 2024). Net income: CN¥3.95b (up 91% from 1Q 2024). Profit margin: 8.6% (up from 4.5% in 1Q 2024). Revenue missed analyst estimates by 23%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to HK$4.81, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 25% over the past three years. Announcement • Mar 28
CMOC Group Limited to Report Q1, 2025 Results on Apr 26, 2025 CMOC Group Limited announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Mar 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CN¥0.63 (up from CN¥0.38 in FY 2023). Revenue: CN¥213.0b (up 14% from FY 2023). Net income: CN¥13.5b (up 64% from FY 2023). Profit margin: 6.4% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 21
CMOC Group Limited Announces Final Ordinary Dividend for the Financial Year End 31 December 2024 CMOC Group Limited announced final ordinary dividend of RMB 2.55 per 10 share for the financial year end 31 December 2024. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$6.40, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 92% over the past three years. New Risk • Feb 28
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jan 23
CMOC Group Limited Provides Earnings Guidance for the Year Ended 31 December 2024 CMOC Group Limited provided earnings guidance for the year ended 31 December 2024. For the year, it is estimated that the net profit attributable to shareholders of the Company for the year of 2024 will be RMB 12,800 million to RMB 14,200 million, representing an increase of RMB 4,550 million to RMB 5,950 million, or 55.15% to 72.12% as compared with the same period of last year. It is estimated that the net profit attributable to the shareholders of the Company after deduction of non-recurring loss/profit for the year of 2024 will be RMB 12,400 million to RMB 13,800 million, representing an increase of RMB 6,167 million to RMB 7,567 million, or 98.94% to 121.40% as compared with the same period of last year. The significant increase in the results of the Company for the year of 2024 as compared with the same period of last year is attributable to the significant increase in the output and sales of copper and cobalt products as compared with the same period of last year, which, coupled with the year- on-year increase in the price of copper products and the remarkable results in its measures to reduce costs and increase efficiency, resulted in a year-on-year increase in the Company's profit. Announcement • Dec 27
CMOC Group Limited to Report Fiscal Year 2024 Results on Apr 30, 2025 CMOC Group Limited announced that they will report fiscal year 2024 results on Apr 30, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.08 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.08 in 3Q 2023). Revenue: CN¥51.9b (up 16% from 3Q 2023). Net income: CN¥2.86b (up 64% from 3Q 2023). Profit margin: 5.5% (up from 3.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
CMOC Group Limited to Report Q3, 2024 Results on Oct 26, 2024 CMOC Group Limited announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$6.71, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 45% over the past three years. Major Estimate Revision • Aug 30
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥207.6b to CN¥210.7b. EPS estimate increased from CN¥0.555 to CN¥0.617 per share. Net income forecast to shrink 2.4% next year vs 37% growth forecast for Metals and Mining industry in Hong Kong . Consensus price target broadly unchanged at HK$9.15. Share price was steady at HK$6.36 over the past week. Reported Earnings • Aug 24
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.018 in 2Q 2023). Revenue: CN¥56.7b (up 34% from 2Q 2023). Net income: CN¥3.35b (up CN¥2.96b from 2Q 2023). Profit margin: 5.9% (up from 0.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.7%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 25
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to HK$5.82. The fair value is estimated to be HK$7.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$6.37, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$7.62 per share. Announcement • Jun 29
CMOC Group Limited to Report First Half, 2024 Results on Aug 24, 2024 CMOC Group Limited announced that they will report first half, 2024 results on Aug 24, 2024 Announcement • Jun 21
CITIC Guoan Industrial Group Co., Ltd. entered into entered into an equity transfer agreement to acquire 65.10% stake in Xinjiang Luomu Mining Co., Ltd from CMOC Group Limited (SEHK:3993) for CNY 2.9 billion. CITIC Guoan Industrial Group Co., Ltd. entered into entered into an equity transfer agreement to acquire 65.10% stake in Xinjiang Luomu Mining Co., Ltd from CMOC Group Limited (SEHK:3993) for CNY 2.9 billion on June 19, 2024. A cash consideration of CNY 2.9 billion will be paid by CITIC Guoan Industrial Group Co., Ltd. As part of consideration, CNY 2.9 billion is paid towards common equity of Xinjiang Luomu Mining Co., Ltd.
As of April 30, 2024, Xinjiang Luomu Mining Co., Ltd reported total assets of CNY 1.34 billion and total common equity of CNY 1.34 billion.
The transaction is subject to approval of offer by shareholders of Xinjiang Luomu Mining Co., Ltd, and the deal has been approved by board of directors of CMOC Group Limited. Announcement • Jun 20
CMOC to Sell 65.1% Stake in Unit to CITIC Guoan CMOC Group Limited (SEHK:3993) said it plans to sell 65.1% stake in unit to CITIC Guoan Information Industry Co., Ltd. (SZSE:000839) for CNY 2.9 billion ($399.62 million). Board Change • Jun 13
Less than half of directors are independent There are 6 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: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Kaiguo Wang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jun 13
Cmoc Group Limited Announces Committee Changes CMOC Group Limited announced that Audit and Risk Committee comprises the following Directors: Ms. Gu Hongyu (independent non-executive Director) (Chairman); Mr. Cheng Gordon (independent non-executive Director); Mr. Yuan Honglin (non-executive Director). Nomination and Governance Committee comprises the following Directors: Mr. Wang Kaiguo (independent non-executive Director) (Chairman); Mr. Yuan Honglin (non-executive Director) (Vice Chairman); Ms. Gu Hongyu (independent non-executive Director); Mr. Cheng Gordon (independent non-executive Director); Remuneration Committee comprises the following Directors: Mr. Wang Kaiguo (independent non-executive Director) (Chairman). Ms. Gu Hongyu (independent non-executive Director). Mr. Yuan Honglin (non-executive Director). Strategic and Sustainability Committee comprises the following Directors: Mr. Yuan Honglin (non-executive Director) (Chairman); Mr. Sun Ruiwen (executive Director); Mr. Li Chaochun (executive Director); Mr. Lin Jiuxin (non-executive Director); Mr. Jiang Li (non-executive Director); Mr. Wang Kaiguo (independent non-executive Director). The Board resolved to approve the composition of the Investment Committee; Mr. Yuan Honglin (non-executive Director); Mr. Sun Ruiwen (executive Director); Mr. Li Chaochun (executive Director) (Chairman); and Mr. Li Guojun (vice president and chief financial officer). Mr. Xu and Ms. Ng Sau Mei ("Ms. Ng"), remain as the joint company secretaries; Mr. Xu Hui, born in September 1978, graduated with a bachelor's degree in Investment Economics Management. From July 2001 to September 2022, he served at Great Wall Motor Company Limited successively as the director of securities and legal department, the secretary to the board of directors, and the chairman of the financial business segment, responsible for information disclosure, investor relationship management, corporate financing, equity investment, legal and compliance, business financial management and other relevant works. Since 2022, he has been the board secretary and joint company secretary of the Company. Declared Dividend • Jun 12
Dividend increased to HK$0.17 Dividend of HK$0.17 is 81% higher than last year. Ex-date: 27th June 2024 Payment date: 26th July 2024 Dividend yield will be 2.4%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.015 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.10 (up from CN¥0.015 in 1Q 2023). Revenue: CN¥46.1b (up 4.2% from 1Q 2023). Net income: CN¥2.07b (up CN¥1.75b from 1Q 2023). Profit margin: 4.5% (up from 0.7% in 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Metals and Mining industry in Hong Kong. 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 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 27
CMOC Group Limited, Annual General Meeting, Jun 07, 2024 CMOC Group Limited, Annual General Meeting, Jun 07, 2024. Agenda: To proposed amendments. Announcement • Mar 30
CMOC Group Limited to Report Q1, 2024 Results on Apr 30, 2024 CMOC Group Limited announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 23
CMOC Group Limited Proposes Final Dividend for the Year Ended 31 December 2023 CMOC Group Limited proposed final dividend of RMB 1.5425 per 10 share for the year ended 31 December 2023. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$6.27, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$9.47 per share. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: CN¥0.38 (vs CN¥0.28 in FY 2022) Full year 2023 results: EPS: CN¥0.38 (up from CN¥0.28 in FY 2022). Revenue: CN¥186.3b (up 7.7% from FY 2022). Net income: CN¥8.25b (up 36% from FY 2022). Profit margin: 4.4% (up from 3.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
CMOC Group Limited to Report Fiscal Year 2023 Results on Mar 23, 2024 CMOC Group Limited announced that they will report fiscal year 2023 results on Mar 23, 2024 Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CN¥0.081 (vs CN¥0.055 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.081 (up from CN¥0.055 in 3Q 2022). Revenue: CN¥45.0b (up 11% from 3Q 2022). Net income: CN¥1.74b (up 50% from 3Q 2022). Profit margin: 3.9% (up from 2.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Metals and Mining industry in Hong Kong. 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 • Jul 21
CMOC Group Limited Signs Settlement Agreement with Tenke Fungurume Mining S.A. and La Générale des Carrières et des Mines S.A CMOC Group Limited announced that on 18 April 2023, local time in the DRC, the Company and La Générale des Carrières et des Mines S.A. reached a consensus on the issue of TFM royalties. Through candid communications and friendly consultations, a settlement agreement was signed recently between the Company, Tenke Fungurume Mining S.A. (TFM) and Gécamines based on respect of history of the project and serving the win-win goal out of consideration of both short-term interests and long-term development of the parties. According to the Settlement Agreement, the parties agree to update accordingly the joint-venture documentation, and in particular agree on the following: The total amount of the settlement payment resolving the dispute is USD 800 million, payable by TFM to Gécamines over six years from 2023 to 2028. TFM will pay cumulatively to Gécamines a minimum amount of USD 1.2 billion of dividends over the current project service period starting from 2023 (inclusive). All parties also reached a number of consensuses on future additional reserves and on the future operation and management of TFM. Gécamines will be entitled to 20% of the total value of the project's subcontracting and the right to acquire a volume of production proportional to its 20% stake in TFM on market terms and in compliance with Congolese laws. Given rising commodity prices over recent years, there is expectation in the DRC on the mining industry to play a stronger role in promoting economic development and job creation to achieve rebalancing of interests. The Company and Gécamines will further strengthen the joint venture partnership, and jointly expand cooperation in areas including the new energy industry, committing to promoting the economic development and people's well-being of the DRC, and making greater contributions to the friendly cooperation between China and the DRC. The Settlement Agreement and the payments under the Settlement Agreement are not expected to have a material adverse impact on the Company's operating results for year 2023 and future years. The smooth progress of the execution of the Settlement Agreement will further release the production capacity of TFM copper-cobalt mine, which is conducive to further improving the Company's profitability and core competitiveness while strengthening the Company's main business and consolidating the Company's leading position in the international mining industry. Upcoming Dividend • Jun 22
Upcoming dividend of HK$0.094 per share at 2.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Hong Kong dividend payers (7.9%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$5.70, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$8.64 per share. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.24 in FY 2021) Full year 2022 results: EPS: CN¥0.28 (up from CN¥0.24 in FY 2021). Revenue: CN¥173.0b (flat on FY 2021). Net income: CN¥6.07b (up 19% from FY 2021). Profit margin: 3.5% (up from 2.9% in FY 2021). Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.