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Shandong Gold Mining Co., Ltd. Class H
(1787)
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Rating:56Neutral
Price Target:
HK$17.00
▼(-47.27% Downside)
Action:Reiterated
Date:06/24/26
The score is supported by improved profitability and a rebound to solid positive free cash flow, but is held back by sharply higher leverage (debt-to-equity ~2.71x) and a strongly bearish technical setup with the price well below key moving averages and negative MACD. Valuation is roughly neutral, with a moderate P/E and a modest dividend yield.
Positive Factors
Improving margins and profitability
TTM margin expansion to ~20.8% gross and ~12.8% operating reflects better cost control and higher recovery rates. Sustained margins increase cash available for reinvestment and dividends, supporting durability of operations across commodity cycles and improving return on capital over the medium term.
Negative Factors
Elevated leverage and high absolute debt
Debt-to-equity near 2.7x and large absolute borrowings materially reduce financial flexibility. High leverage amplifies earnings volatility, increases interest burden and refinancing risk, and limits capacity to fund growth or weather lower gold prices without strategic trade-offs.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving margins and profitability
TTM margin expansion to ~20.8% gross and ~12.8% operating reflects better cost control and higher recovery rates. Sustained margins increase cash available for reinvestment and dividends, supporting durability of operations across commodity cycles and improving return on capital over the medium term.
Read all positive factors
Shandong Gold Mining Co., Ltd. Class H (1787) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$128.63B
Dividend Yield0.93%
Average Volume (3M)24.23M
Price to Earnings (P/E)21.4
Beta (1Y)0.73
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees17,439
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.80
Shares Outstanding995,486,200
10 Day Avg. Volume30,297,405
30 Day Avg. Volume24,228,997
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)3.49
Price to Sales (P/S)1.50
P/FCF Ratio18.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$45.70Price Target Upside41.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.29
Revenue Forecast (FY)HK$152.58B
Shandong Gold Mining Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Shandong Gold Mining Co., Ltd. is primarily involved in the discovery, extraction, refinement, and marketing of gold and silver deposits throughout the People's Republic of China. The company structures its operations into three main divisions: Go...
How the Company Makes Money
The company primarily makes money by producing gold from its mines and selling that gold into the market. Key revenue streams typically include: (1) Gold sales revenue: income recognized from the sale of refined gold (and/or gold doré that is furt...
Shandong Gold Mining Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.85B | 104.29B | 82.52B | 59.28B | 50.31B | 33.93B |
| Gross Profit | 18.07B | 21.34B | 13.62B | 9.84B | 7.09B | 3.58B |
| EBITDA | 9.85B | 18.27B | 12.73B | 9.13B | 6.29B | 2.52B |
| Net Income | 4.01B | 4.74B | 2.95B | 2.33B | 1.25B | ― |
Balance Sheet | ||||||
| Total Assets | 177.31B | 170.37B | 160.66B | 134.60B | 90.72B | 78.31B |
| Cash, Cash Equivalents and Short-Term Investments | 23.20B | 20.08B | 14.83B | 14.13B | 12.59B | 7.69B |
| Total Debt | 56.07B | 54.53B | 57.00B | 50.19B | 20.95B | 12.87B |
| Total Liabilities | 110.94B | 105.99B | 102.09B | 81.34B | 54.03B | 46.52B |
| Stockholders Equity | 45.98B | 44.90B | 37.80B | 33.08B | 32.88B | 29.22B |
Cash Flow | ||||||
| Free Cash Flow | 10.67B | 8.56B | -6.76B | -2.33B | -1.24B | -1.73B |
| Operating Cash Flow | 20.37B | 21.49B | 13.34B | 6.85B | 2.97B | 1.82B |
| Investing Cash Flow | -10.80B | -13.61B | -22.80B | -20.62B | -5.25B | -2.61B |
| Financing Cash Flow | -4.79B | -1.87B | 11.00B | 14.44B | 5.46B | 2.14B |
Shandong Gold Mining Co., Ltd. Class H Technical Analysis
Negative
32.24
Price Trends
24.56
Negative
30.54
Negative
33.45
Negative
Market Momentum
-1.98
Negative
42.61
Neutral
33.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1787, the sentiment is Negative. The current price of 32.24 is above the 20-day moving average (MA) of 20.25, above the 50-day MA of 24.56, and below the 200-day MA of 33.45, indicating a bearish trend. The MACD of -1.98 indicates Negative momentum. The RSI at 42.61 is Neutral, neither overbought nor oversold. The STOCH value of 33.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1787.
Shandong Gold Mining Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$66.72B | 11.57 | 27.52% | 0.54% | 48.74% | 56.71% | |
68 Neutral | HK$844.45B | 11.29 | 35.71% | 1.55% | 22.04% | 75.35% | |
66 Neutral | HK$287.71B | 14.14 | 26.67% | ― | 79.93% | 228.12% | |
63 Neutral | HK$67.91B | 15.68 | 17.43% | 0.16% | 56.67% | 139.25% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | HK$21.75B | 9.79 | 34.13% | 1.40% | 10.57% | 112.84% | |
56 Neutral | HK$128.63B | 21.40 | 15.21% | 0.93% | ― | ― |
* Basic Materials Sector Average
HK:1787
Shandong Gold Mining Co., Ltd. Class H
19.68
-6.66
-25.29%
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54.37%
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-11.68
-9.80%
Shandong Gold Mining Co., Ltd. Class H Corporate Events
Shandong Gold Updates H Share Register Closure for 2026 Extraordinary Meeting
Jun 29, 2026
Shandong Gold Mining Co., Ltd. has updated the timetable for closing its H share register of members ahead of its 2026 second extraordinary general meeting, setting the closure from July 9 to July 10, 2026, inclusive. H shareholders whose names ap...
Shandong Gold updates 2025 final dividend payment schedule and tax details
Jun 29, 2026
Shandong Gold Mining Co., Ltd. announced an updated final cash dividend for the year ended 31 December 2025, confirming a payout of RMB 1.8 per 10 shares, equivalent to HKD 2.07142 per 10 shares for its H shareholders. The company set an ex-divide...
Shandong Gold Wins Shareholder Backing for Governance Reforms and New Debt Mandate
Jun 26, 2026
Shandong Gold Mining Co., Ltd. announced that shareholders approved a series of governance and management changes at its first extraordinary general meeting of 2026, including revisions to systems for related party transactions, external guarantee...
Shandong Gold Mining Calls 2026 EGM to Vote on New Board Appointment
Jun 24, 2026
Shandong Gold Mining Co., Ltd. has convened its second extraordinary general meeting for 2026 to be held in Jinan on 10 July 2026, where shareholders will vote on appointing Wang Chenglong as a non-independent director to the company’s seven...
Shandong Gold Reshapes Board as Vice Chairman Resigns and Veteran Executive Is Nominated
Jun 22, 2026
Shandong Gold Mining Co., Ltd. announced the resignation of non-executive director and vice chairman Liu Qin, who also chaired the sustainability committee and served on the audit and remuneration committees, following a work adjustment policy at ...
Shandong Gold Mining Outlines Board and Committee Structure
Jun 22, 2026
Shandong Gold Mining Co., Ltd. has announced the current composition of its board of directors, led by chairman and non-executive director Han Yaodong, alongside executive, non-executive, and independent non-executive directors including Xiu Guoli...
Shandong Gold Updates 2025 Final Dividend and Tax Terms for H Shareholders
Jun 15, 2026
Shandong Gold Mining Co., Ltd. has updated its final dividend for the year ended 31 December 2025, confirming a payout of RMB 1.8 per 10 shares, with Hong Kong shareholders to receive HKD 2.07142 per 10 shares based on a set exchange rate. The com...
Shandong Gold Wins Strong Shareholder Backing at 2025 AGM
Jun 15, 2026
Shandong Gold Mining Co., Ltd. reported that all resolutions at its 2025 annual general meeting on 15 June 2026 were duly passed by poll with overwhelming shareholder support. Approvals covered the 2025 work and sustainability reports, annual repo...
Shandong Gold Mining Calls 2026 EGM to Tighten Governance and Expand Financing Options
Jun 3, 2026
Shandong Gold Mining Co., Ltd. has convened its first extraordinary general meeting of 2026 for 26 June in Jinan, where shareholders will vote on a series of governance and financial management changes. The agenda includes amendments to systems fo...
Shandong Gold Subsidiary Books RMB705 Million Loss in Donghai Stake Sale to Soochow Securities
Jun 2, 2026
Shandong Gold Mining’s wholly owned unit SDG Capital Management plans to participate in Soochow Securities’ acquisition of Donghai Securities by selling 14.13% of its 18.71% stake in Donghai to Soochow. The consideration totals about R...
Shandong Gold Mining Raises Caps on Intragroup Financial Services for 2026–2027
May 29, 2026
Shandong Gold Mining has approved a supplemental agreement with its affiliated financial services provider SDG Finance Co. to raise the annual caps for deposit and financing services for 2026 and 2027. The move follows strong use of existing facil...
Shandong Gold Tightens Audit Committee Mandate to Bolster Governance
May 29, 2026
Shandong Gold Mining Co., Ltd. has clarified and updated the terms of reference for its Board Audit Committee to strengthen advance and professional auditing, enhance board-level supervision of senior management, and improve its overall corporate ...
Shandong Gold Mining Sets Detailed Mandate for Remuneration and Appraisal Committee
May 29, 2026
Shandong Gold Mining has detailed the terms of reference for its Board-level Remuneration and Appraisal Committee to strengthen governance over pay and performance of non-independent directors and senior management. The committee is composed mainl...
Shandong Gold Mining Tightens Board Nomination and Governance Rules
May 29, 2026
Shandong Gold Mining has formalized detailed terms of reference for its Board Nomination Committee, defining its role in selecting and proposing candidates for directors and senior management, and in shaping the Board’s size, structure and d...
Shandong Gold Mining Establishes Strategy Committee to Strengthen Governance and Investment Oversight
May 29, 2026
Shandong Gold Mining Co., Ltd. has formalized the terms of reference for a Strategy Committee under its board, designed to enhance strategic development, refine major investment decision-making, and reinforce corporate governance. The committee wi...
Shandong Gold Mining Sets Up Board-Level Sustainability Committee to Drive ESG Strategy
May 29, 2026
Shandong Gold Mining Co., Ltd. has established a Board-level Sustainability Committee to strengthen its sustainable development capabilities and enhance ESG performance across its operations. The committee will design long-term sustainability stra...
Shandong Gold Mining Reschedules 2025 AGM and Adjusts Profit Distribution Timetable
May 27, 2026
Shandong Gold Mining has postponed its 2025 annual general meeting from June 3, 2026 to June 15, 2026, citing overall corporate arrangements, while keeping the venue, format, and agenda unchanged. H shareholders’ eligibility to attend and vo...
Shandong Gold Updates Final 2025 Dividend Timetable and Tax Details for H Shareholders
May 27, 2026
Shandong Gold Mining Co., Ltd. has updated its announcement of a final ordinary cash dividend for the financial year ended 31 December 2025, declaring a payout of RMB 1.8 per 10 shares to its H shareholders. The update clarifies the date of shareh...
Shandong Gold Updates 2025 Final Dividend Details and Tax Treatment for H-Shareholders
May 13, 2026
Shandong Gold Mining Co., Ltd., a major Chinese gold producer listed in Hong Kong, focuses on the exploration, mining and processing of gold, providing investors with exposure to the precious metals sector through its H shares. Its operations posi...
Shandong Gold Calls 2025 AGM With Dividend, Derivatives and H-Share Mandate on Agenda
May 13, 2026
Shandong Gold Mining Co., Ltd. has called its 2025 annual general meeting for 3 June 2026 in Jinan, where shareholders will review the board and independent directors’ 2025 work reports, the annual report, profit distribution proposal, and t...
Shandong Gold Issues Unaudited First-Quarter 2026 Results and Reaffirms Disclosure Commitments
Apr 29, 2026
Shandong Gold Mining Co., Ltd. released its unaudited first quarterly report for the three months ended 31 March 2026, prepared in accordance with China Accounting Standards for Business Enterprises. The board, senior management and key accounting...
Shandong Gold Schedules Board Meeting to Approve First-Quarter 2026 Results
Apr 17, 2026
Shandong Gold Mining Co., Ltd. has scheduled a board meeting for 29 April 2026 to review and approve its first-quarter results for the three months ended 31 March 2026 and to authorize their publication. The meeting will also address other corpora...
Shandong Gold’s Controlling Shareholder Completes A-Share Increase Plan
Apr 8, 2026
Shandong Gold Mining Co., Ltd. announced the completion and results of a previously disclosed shareholding increase plan undertaken by its controlling shareholder, Shandong Gold Group Co., Ltd., and its concert parties. The plan, launched in April...
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.