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South Manganese Investment Limited
(1091)
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Rating:58Neutral
Price Target:
HK$0.43
▼(-18.08% Downside)
Action:Reiterated
Date:04/21/26
The score is driven primarily by the financial profile: profitability improved and free cash flow is solid, but revenue contraction and still-elevated leverage materially temper the outlook. Technicals add moderate support, while valuation is neutral with no dividend support.
Positive Factors
Cash generation
Sustained positive operating cash flow and solid free cash flow in 2025 demonstrate durable internal funding. This strengthens the company's ability to finance capex, service debt, and absorb commodity cycles without immediate external financing, supporting longer-term operational resilience.
Negative Factors
Sharp revenue decline
A large top-line contraction highlights acute volume or demand weakness in manganese-related operations. Persistent or repeated revenue declines undermine scale economics, strain margins, and make earnings recovery and long-term planning dependent on commodity demand normalization.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating cash flow and solid free cash flow in 2025 demonstrate durable internal funding. This strengthens the company's ability to finance capex, service debt, and absorb commodity cycles without immediate external financing, supporting longer-term operational resilience.
Read all positive factors
South Manganese Investment Limited (1091) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.02B
Dividend YieldN/A
Average Volume (3M)16.31M
Price to Earnings (P/E)8.9
Beta (1Y)1.98
Revenue Growth-51.79%
EPS GrowthN/A
CountryHK
Employees5,449
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.05
Shares Outstanding4,936,981,000
10 Day Avg. Volume22,147,815
30 Day Avg. Volume16,310,730
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)0.80
Price to Sales (P/S)0.37
P/FCF Ratio2.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
South Manganese Investment Limited Business Overview & Revenue Model
Company Description
South Manganese Investment Limited, an investment holding company, engages in the manganese mining, ore processing, and downstream processing operations in Mainland China, rest of Asia, Europe, and North America. It operates through four segments:...
How the Company Makes Money
null...
South Manganese Investment Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
49
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.37B | 13.21B | 17.13B | 16.03B | 12.83B |
| Gross Profit | 1.07B | 406.37M | 934.15M | 1.37B | 2.34B |
| EBITDA | 802.10M | 137.07M | 808.66M | 1.06B | 1.63B |
| Net Income | 167.06M | -725.07M | 64.14M | 336.09M | 454.58M |
Balance Sheet | |||||
| Total Assets | 9.10B | 8.79B | 11.37B | 11.45B | 10.98B |
| Cash, Cash Equivalents and Short-Term Investments | 1.70B | 402.33M | 1.15B | 1.26B | 1.12B |
| Total Debt | 3.65B | 3.95B | 5.12B | 4.46B | 4.11B |
| Total Liabilities | 6.60B | 6.81B | 8.54B | 8.62B | 7.94B |
| Stockholders Equity | 2.92B | 2.36B | 3.14B | 3.17B | 3.11B |
Cash Flow | |||||
| Free Cash Flow | 946.34M | 1.01B | -860.95M | -111.77M | 888.67M |
| Operating Cash Flow | 1.35B | 1.60B | -319.82M | 935.91M | 1.60B |
| Investing Cash Flow | -284.95M | -868.55M | -498.82M | -921.12M | -775.17M |
| Financing Cash Flow | -92.00M | -1.29B | 655.09M | 239.90M | -951.00M |
South Manganese Investment Limited Technical Analysis
Negative
0.52
Price Trends
0.52
Negative
0.53
Negative
0.50
Negative
Market Momentum
-0.03
Positive
26.33
Positive
5.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1091, the sentiment is Negative. The current price of 0.52 is above the 20-day moving average (MA) of 0.46, above the 50-day MA of 0.52, and above the 200-day MA of 0.50, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 26.33 is Positive, neither overbought nor oversold. The STOCH value of 5.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1091.
South Manganese Investment Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$33.85B | 21.54 | 32.96% | 1.32% | 68.93% | 104.83% | |
67 Neutral | HK$406.98B | 15.26 | 29.93% | 1.45% | 8.77% | 60.69% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | HK$2.02B | 8.89 | -14.35% | ― | -51.79% | ― | |
55 Neutral | HK$4.16B | 24.42 | 4.72% | 6.84% | 57.56% | -70.23% | |
55 Neutral | HK$1.95B | -15.63 | ― | ― | ― | ― | |
53 Neutral | HK$27.59B | 18.60 | 38.25% | ― | ― | ― |
* Basic Materials Sector Average
HK:1091
South Manganese Investment Limited
0.41
0.12
41.38%
HK:3993
CMOC Group
15.22
7.38
94.13%
HK:0769
China Rare Earth Holdings
0.70
0.00
0.00%
HK:1205
CITIC Resources Holdings
0.53
0.15
39.47%
HK:3939
Wanguo International Mining Group Ltd.
7.65
-0.06
-0.73%
HK:3858
Jiaxin International Resources Investment Limited
60.55
30.55
101.83%
South Manganese Investment Limited Corporate Events
South Manganese Shareholders Back All AGM Resolutions, Renew Capital Mandates
May 15, 2026
Shareholders of South Manganese Investment Limited approved all resolutions at the annual general meeting held on 15 May 2026, including the receipt of the 2025 audited financial statements and reports, and the re-election of the full slate of nom...
South Manganese Calls 2026 AGM, Seeks Fresh Share Issue Mandate
Apr 15, 2026
South Manganese Investment Limited is a Bermuda-incorporated company listed in Hong Kong, operating in the resources sector with a focus likely related to manganese assets and investments. The company is governed by a board of directors and audite...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.