Duyuru • Dec 21
China Nonferrous Gold Announces Board Changes China Nonferrous Gold (CNG) has reported that Li Yong and Shi Xiuzhi have tendered their resignations as non-executive directors of the Company to pursue other business interests. The Directors of the Company have commenced the search for new independent, non-executive directors for CNG and will update shareholders in due course as those conversations progress. Reported Earnings • Sep 25
First half 2023 earnings released: US$0.033 loss per share (vs US$0.013 loss in 1H 2022) First half 2023 results: US$0.033 loss per share (further deteriorated from US$0.013 loss in 1H 2022). Revenue: US$30.2m (down 1.8% from 1H 2022). Net loss: US$12.6m (loss widened 157% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Buying Opportunity • Sep 11
Now 83% undervalued after recent price drop Over the last 90 days, the stock is down 50%. The fair value is estimated to be €0.012, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 113%. New Risk • Sep 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (236% average daily change). Negative equity (-US$313m). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (€6.49m market cap, or US$7.01m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings have declined by 68% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (240% average daily change). Negative equity (-US$313m). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (€6.63m market cap, or US$7.27m). Duyuru • Nov 25
China Nonferrous Gold Limited, Annual General Meeting, Dec 19, 2022 China Nonferrous Gold Limited, Annual General Meeting, Dec 19, 2022, at 09:30 Coordinated Universal Time. Location: the office of Charles Russell Speechlys LLP 5 Fleet Place London United Kingdom Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Xiuzhi Shi was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 02
First half 2022 earnings released: US$0.013 loss per share (vs US$0.004 loss in 1H 2021) First half 2022 results: US$0.013 loss per share (further deteriorated from US$0.004 loss in 1H 2021). Revenue: US$30.7m (flat on 1H 2021). Net loss: US$4.92m (loss widened 258% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 01
Full year 2021 earnings released: US$0.016 loss per share (vs US$0.017 loss in FY 2020) Full year 2021 results: US$0.016 loss per share (up from US$0.017 loss in FY 2020). Revenue: US$72.0m (up 12% from FY 2020). Net loss: US$6.25m (loss narrowed 1.7% from FY 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Xiuzhi Shi was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Feb 23
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be US$0.091, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Oct 01
First half 2021 earnings released: US$0.004 loss per share (vs US$0.018 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: US$30.9m (up 27% from 1H 2020). Net loss: US$1.38m (loss narrowed 80% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Executive Departure • Aug 05
Finance Director & Executive Director Delin Feng has left the company On the 29th of July, Delin Feng's tenure as Finance Director & Executive Director ended after 2.4 years in the role. We don't have any record of a personal shareholding under Delin's name. Delin is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Jul 02
Full year 2020 earnings released: US$0.017 loss per share (vs US$0.057 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$64.5m (up 31% from FY 2019). Net loss: US$6.36m (loss narrowed 71% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Duyuru • Dec 04
China Nonferrous Gold Limited, Annual General Meeting, Dec 29, 2020 China Nonferrous Gold Limited, Annual General Meeting, Dec 29, 2020, at 09:30 China Standard Time. Location: Room 717, 7th Floor, North Tower of China Nonferrous Building No.10 Anding Road, Chaoyang District Beijing China Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of US$19.3m, with losses widening by 80% from the prior year. Total revenue was US$52.6m over the last 12 months, up 35% from the prior year. Duyuru • Sep 29
China Nonferrous Gold Limited Announces Board Changes China Nonferrous Gold Limited announced that Mr. Liang has tendered his resignation as Chairman of the company to pursue other business interests. That resignation has immediate effect 28 Sep. 2020. At the same time, Mr. Yu Lixian has been appointed Chairman of the company with immediate effect. Mr. Yu was previously Managing Director of the company. To ensure ongoing and effective corporate governance of the Company, it is agreed that Mr. Yong Li, a current Non-Executive Director of the Company, is appointed as the Senior Independent Director with immediate effect. Finally, it is agreed that Mr. Hui Zhang, be appointed as Managing Director of the Company with immediate effect. Mr. Zhang currently serves as the Managing Director of China Nonferrous Metals International Mining Co., Limited. Duyuru • Jul 08
China Nonferrous Gold Limited to Report Fiscal Year 2019 Results on Jul 31, 2020 China Nonferrous Gold Limited announced that they will report fiscal year 2019 results on Jul 31, 2020 
