Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$21.02, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 83% over the past three years. 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 HK$21.38, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 106% over the past three years. Announcement • Jun 01
Zhaojin Mining Industry Company Limited Approves Final Dividend for the Year Ended 31 December 2025, Payable on June 30, 2026 Zhaojin Mining Industry Company Limited approved Final Dividend of RMB 0.1 per share for the Year Ended 31 December 2025, Payable on June 30, 2026. Ex-dividend date is 03 June 2026. Record date is 09 June 2026. Date of shareholders' approval is 01 June 2026. Declared Dividend • May 20
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 3rd June 2026 Payment date: 30th June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.0%. Payout Ratios Payout ratio: 9%. Cash payout ratio: 8%. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Junhao Wei was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 14
Zhaojin Mining Industry Company Limited to Report Q1, 2026 Results on Apr 24, 2026 Zhaojin Mining Industry Company Limited announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Mar 23
Zhaojin Mining Industry Company Limited, Annual General Meeting, Jun 01, 2026 Zhaojin Mining Industry Company Limited, Annual General Meeting, Jun 01, 2026. Announcement • Mar 10
Zhaojin Mining Industry Company Limited to Report Fiscal Year 2025 Results on Mar 20, 2026 Zhaojin Mining Industry Company Limited announced that they will report fiscal year 2025 results on Mar 20, 2026 Announcement • Sep 26
Zhaojin Mining Industry Company Limited to Report Nine Months, 2025 Results on Oct 10, 2025 Zhaojin Mining Industry Company Limited announced that they will report nine months, 2025 results on Oct 10, 2025 Announcement • Aug 12
Zhaojin Mining Industry Company Limited to Report First Half, 2025 Results on Aug 22, 2025 Zhaojin Mining Industry Company Limited announced that they will report first half, 2025 results on Aug 22, 2025 Announcement • Jun 03
Zhaojin Mining Industry Company Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable Before 30 June 2025 Zhaojin Mining Industry Company Limited at the Annual general meeting held on June 2, 2025 approved the payment of final dividend for the year ended 31 December 2024. The Company will distribute a Final Dividend of RMB 0.05 (tax included) per Share. The Final Dividend is payable to Shareholders whose names appeared on the register of members of the Company on the record date. Dividend on Domestic Shares shall be paid in Renminbi and dividend on H Shares shall be paid in Hong Kong dollars. The Final Dividend will be paid by the Receiving Agent and the dividend warrants will be posted by the H share registrar of the Company, Computershare Hong Kong Investor Services Limited, by ordinary mail to the H Share Shareholders who are entitled to receive the dividend at their own risk before 30 June 2025. Record date: 10 June 2025; Ex-dividend date: 04 June 2025. Announcement • Apr 08
Zhaojin Mining Industry Company Limited to Report Q1, 2025 Results on Apr 21, 2025 Zhaojin Mining Industry Company Limited announced that they will report Q1, 2025 results on Apr 21, 2025 Announcement • Apr 01
Zhaojin Mining Industry Company Limited has completed a Follow-on Equity Offering in the amount of HKD 1.9824 billion. Zhaojin Mining Industry Company Limited has completed a Follow-on Equity Offering in the amount of HKD 1.9824 billion.
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 140,000,000
Price\Range: HKD 14.16
Transaction Features: Subsequent Direct Listing Announcement • Mar 11
Zhaojin Mining Industry Company Limited to Report Fiscal Year 2024 Results on Mar 21, 2025 Zhaojin Mining Industry Company Limited announced that they will report fiscal year 2024 results on Mar 21, 2025 Announcement • Sep 27
Zhaojin Mining Industry Company Limited to Report Q3, 2024 Results on Oct 10, 2024 Zhaojin Mining Industry Company Limited announced that they will report Q3, 2024 results at 4:00 PM, China Standard Time on Oct 10, 2024 Reported Earnings • Sep 24
Second quarter 2024 earnings released: EPS: CN¥0.055 (vs CN¥0.012 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.055 (up from CN¥0.012 in 2Q 2023). Revenue: CN¥2.65b (up 55% from 2Q 2023). Net income: CN¥191.0m (up 401% from 2Q 2023). Profit margin: 7.2% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% 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 44% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Aug 14
Zhaojin Mining Industry Company Limited to Report First Half, 2024 Results on Aug 23, 2024 Zhaojin Mining Industry Company Limited announced that they will report first half, 2024 results on Aug 23, 2024 Upcoming Dividend • May 29
Upcoming dividend of CN¥0.04 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 16% but the company is paying out more than the cash it is generating. Trailing yield: 0.3%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (2.1%). Announcement • Apr 24
Zhaojin Mining Industry Company Limited has completed a Follow-on Equity Offering in the amount of HKD 1.72524 billion. Zhaojin Mining Industry Company Limited has completed a Follow-on Equity Offering in the amount of HKD 1.72524 billion.
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 132,000,000
Price\Range: HKD 13.07
Transaction Features: Subsequent Direct Listing New Risk • Apr 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Announcement • Apr 15
Zhaojin Mining Industry Company Limited has filed a Follow-on Equity Offering in the amount of HKD 1.72524 billion. Zhaojin Mining Industry Company Limited has filed a Follow-on Equity Offering in the amount of HKD 1.72524 billion.
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 132,000,000
Price\Range: HKD 13.07
Transaction Features: Subsequent Direct Listing Announcement • Apr 11
Zhaojin Mining Industry Company Limited to Report Q1, 2024 Results on Apr 22, 2024 Zhaojin Mining Industry Company Limited announced that they will report Q1, 2024 results on Apr 22, 2024 Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$10.62, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 51% over the past three years. Declared Dividend • Mar 25
Dividend of CN¥0.04 announced Shareholders will receive a dividend of CN¥0.04. Ex-date: 5th June 2024 Payment date: 28th June 2024 Dividend yield will be 0.4%, which is lower than the industry average of 2.0%. Announcement • Mar 24
Zhaojin Mining Industry Company Limited Proposes Ordinary Final Cash Dividend for the Year Ended 31 December 2023, Payable on 28 June 2024 Zhaojin Mining Industry Company Limited proposed ordinary final cash dividend of RMB 0.04 per share for the year ended 31 December 2023, payable on 28 June 2024. Record date is 11 June 2024. Ex-dividend date is 05 June 2024. Date of shareholders' approval is 03 June 2024. Announcement • Mar 23
Zhaojin Mining Industry Company Limited, Annual General Meeting, Jun 03, 2024 Zhaojin Mining Industry Company Limited, Annual General Meeting, Jun 03, 2024. Agenda: To consider final dividend. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.12 in FY 2022) Full year 2023 results: EPS: CN¥0.14 (up from CN¥0.12 in FY 2022). Revenue: CN¥8.42b (up 6.8% from FY 2022). Net income: CN¥686.4m (up 71% from FY 2022). Profit margin: 8.1% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% 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 fallen by 28% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Mar 13
Zhaojin Mining Industry Company Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 Zhaojin Mining Industry Company Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$9.48, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 22% over the past three years. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.067 (vs CN¥0.046 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.067 (up from CN¥0.046 in 3Q 2022). Revenue: CN¥2.94b (up 30% from 3Q 2022). Net income: CN¥228.5m (up 45% from 3Q 2022). Profit margin: 7.8% (up from 7.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Oct 17
Zhaojin Mining Industry Company Limited to Report Q3, 2023 Results on Oct 27, 2023 Zhaojin Mining Industry Company Limited announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 26
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥1.71b (down 7.1% from 2Q 2022). Net income: CN¥154.2m (up CN¥130.7m from 2Q 2022). Profit margin: 9.0% (up from 1.3% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Metals and Mining industry in Hong Kong. Announcement • Aug 16
Zhaojin Mining Industry Company Limited to Report First Half, 2023 Results on Aug 25, 2023 Zhaojin Mining Industry Company Limited announced that they will report first half, 2023 results on Aug 25, 2023 Announcement • Jun 06
Zhaojin Mining Industry Company Limited Approves Final Dividend for the Year Ended 31 December 2022, Payable on June 30, 2023 Zhaojin Mining Industry Company Limited announced at the shareholder meeting held on June 5, 2023 that the company approved Final Dividend of RMB 0.04 per share for the Year Ended 31 December 2022. Ex-dividend date is June 7, 2023. Record date is June 13, 2023. Payment date is June 30, 2023. Upcoming Dividend • May 31
Upcoming dividend of CN¥0.04 per share at 0.4% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$11.18, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 7x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.01 in FY 2021) Full year 2022 results: EPS: CN¥0.12 (up from CN¥0.01 in FY 2021). Revenue: CN¥7.89b (up 15% from FY 2021). Net income: CN¥402.0m (up CN¥368.3m from FY 2021). Profit margin: 5.1% (up from 0.5% in FY 2021). Production and reserves: Gold Production: 879.35 troy koz (760.6 troy koz in FY 2021) Copper Production: 4,343 t (7,216 t in FY 2021) Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Buying Opportunity • Feb 03
Now 23% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be HK$11.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to grow by 363% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Junhao Wei was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CN¥2.25b (up 20% from 3Q 2021). Net income: CN¥157.5m (up CN¥140.8m from 3Q 2021). Profit margin: 7.0% (up from 0.9% in 3Q 2021). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Metals and Mining industry in Hong Kong. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.006 (vs CN¥0.001 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.006 (up from CN¥0.001 loss in 2Q 2021). Revenue: CN¥1.84b (down 13% from 2Q 2021). Net income: CN¥23.5m (up CN¥28.2m from 2Q 2021). Profit margin: 1.3% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 3.7% growth forecast for the Metals and Mining industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.01 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.03 (up from CN¥0.01 in 1Q 2021). Revenue: CN¥1.70b (up 23% from 1Q 2021). Net income: CN¥84.3m (up 269% from 1Q 2021). Profit margin: 5.0% (up from 1.7% in 1Q 2021). Over the next year, revenue is forecast to grow 6.0%, compared to a 23% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Junhao Wei was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.88b (down 30% from 3Q 2020). Net income: CN¥16.8m (down 97% from 3Q 2020). Profit margin: 0.9% (down from 18% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 08
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.02 in 1Q 2020) The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: CN¥1.38b (flat on 1Q 2020). Net income: CN¥22.8m (down 72% from 1Q 2020). Profit margin: 1.7% (down from 5.9% in 1Q 2020). Upcoming Dividend • Jun 02
Upcoming dividend of CN¥0.05 per share Eligible shareholders must have bought the stock before 09 June 2021. Payment date: 30 June 2021. Trailing yield: 0.7%. Lower than top quartile of Hong Kong dividend payers (5.9%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • May 09
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥8.02, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 12% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$10.14 per share. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.32 (vs CN¥0.15 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥7.65b (up 21% from FY 2019). Net income: CN¥1.05b (up 120% from FY 2019). Profit margin: 14% (up from 7.6% in FY 2019). Production and reserves: Gold Production: 1,145.1 troy koz Proved and probable reserves (ore): 146 Mt (151.7 Mt in FY 2019) Number of mines: 27 (25 in FY 2019) Copper Production: 6,036 t Proved and probable reserves (ore): 10.77 Mt (11.2 Mt in FY 2019) Number of mines: 2 (2 in FY 2019) Reported Earnings • Mar 25
Full year 2020 earnings released: EPS CN¥0.32 (vs CN¥0.15 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥7.65b (up 21% from FY 2019). Net income: CN¥1.05b (up 120% from FY 2019). Profit margin: 14% (up from 7.6% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 27
New 90-day low: HK$7.85 The company is down 21% from its price of HK$9.91 on 27 November 2020. The Hong Kong 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 41% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.99 per share. Is New 90 Day High Low • Jan 28
New 90-day low: HK$8.43 The company is down 15% from its price of HK$9.95 on 30 October 2020. The Hong Kong market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 48% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.94 per share. Is New 90 Day High Low • Dec 13
New 90-day low: HK$9.28 The company is down 4.0% from its price of HK$9.63 on 14 September 2020. The Hong Kong 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 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.79 per share. Is New 90 Day High Low • Nov 06
New 90-day high: HK$11.42 The company is up 12% from its price of HK$10.18 on 07 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.78 per share. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.05b, up 161% from the prior year. Total revenue was CN¥7.50b over the last 12 months, up 11% from the prior year. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total profits of CN¥652.8m, up 59% from the prior year. Total revenue was CN¥6.64b over the last 12 months, down 6.7% from the prior year.