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Sunshine Oilsands
(2012)
Sunshine Oilsands (2012) vs. iShares MSCI Hong Kong ETF (EWH)
Sunshine Oilsands Business Overview & Revenue Model
Sunshine Oilsands Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.75M | 30.66M | 30.24M | 15.63M | 144.00K | 4.18M |
| Gross Profit | -14.43M | -1.06M | -18.12M | -19.05M | -8.91M | -13.46M |
| EBITDA | 8.24M | -16.45M | -891.00K | -53.10M | 49.23M | 30.49M |
| Net Income | -52.76M | -75.39M | -19.33M | -65.40M | 1.47M | 2.23M |
Balance Sheet | ||||||
| Total Assets | 4.13B | 739.02M | 745.93M | 747.72M | 755.72M | 761.66M |
| Cash, Cash Equivalents and Short-Term Investments | 3.04M | 841.00K | 1.02M | 542.00K | 312.00K | 838.00K |
| Total Debt | 353.98M | 383.21M | 351.05M | 352.77M | 307.91M | 311.38M |
| Total Liabilities | 3.96B | 722.17M | 654.88M | 637.71M | 579.36M | 596.24M |
| Stockholders Equity | 175.29M | 18.44M | 92.27M | 111.01M | 177.05M | 165.74M |
Cash Flow | ||||||
| Free Cash Flow | -4.43M | -4.30M | -10.37M | -22.92M | -12.71M | -12.81M |
| Operating Cash Flow | -2.84M | -2.97M | -7.59M | -21.32M | -9.89M | -11.34M |
| Investing Cash Flow | -2.35M | -735.00K | -2.77M | -1.59M | -2.81M | 2.29M |
| Financing Cash Flow | 11.25M | 3.52M | 10.37M | 23.13M | 12.13M | 8.65M |
Sunshine Oilsands Technical Analysis
Sunshine Oilsands Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$156.90M | 7.17 | 9.86% | ― | 42.60% | -67.94% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
44 Neutral | HK$203.70M | -1.34 | ― | ― | -9.85% | 20.71% | |
43 Neutral | HK$205.11M | -9.96 | -8.65% | ― | -2.17% | 63.26% | |
42 Neutral | HK$228.54M | -0.35 | -113.92% | ― | -92.37% | -49.00% | |
41 Neutral | HK$98.03M | -0.25 | ― | ― | -18.76% | -76.89% |
Sunshine Oilsands Corporate Events
Sunshine Oilsands Ltd. has provided further details on its planned use of proceeds from a previously announced share placing under a specific mandate, stating that all net funds raised will be directed toward supporting ongoing development, existing operations and business exploration. Approximately 40% of the proceeds are earmarked for repair and maintenance work required by Alberta’s energy regulator, including fixing leaking tanks, improving fire-risk management, repairing turbine steam generators and installing leak detection on pipelines, with completion targeted around one month after the placing closes. A further 45% is allocated to settle outstanding fees and taxes owed to the Government of Alberta in the second half of 2026, and the remaining 15% will bolster general working capital, although management cautioned that these allocations are rough estimates due to uncertain repair scopes, vendor quoting practices and cost volatility. The company also reiterated that completion of the placing remains subject to conditions precedent and may not proceed, underscoring execution risk for shareholders and potential investors.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.38 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a further delay in sending a shareholder circular related to a proposed connected transaction involving the subscription of convertible bonds under a specific mandate. The circular, which will set out details of the subscription, the specific mandate, related board and adviser recommendations, and the notice of a special general meeting, is now expected to be dispatched on or before 27 February 2026, later than the previously indicated deadline of 30 January 2026. The company cautioned that completion of the transaction remains subject to fulfilling certain conditions precedent and may or may not proceed, advising shareholders and potential investors to exercise prudence when dealing in its shares.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.39 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a delay in sending a shareholder circular related to its proposed placing of up to 114.28 million shares under a specific mandate. The circular, which was originally expected to be dispatched by January 15, 2026 and includes details of the placing agreement and notice of a special general meeting, will now be sent on or before February 5, 2026 due to the need for additional time to prepare and incorporate certain information. The company cautioned that completion of the placing remains subject to the fulfillment of conditions precedent and may or may not proceed, and advised shareholders and potential investors to exercise caution when dealing in its shares.
The most recent analyst rating on (HK:2012) stock is a Sell with a HK$0.39 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a further delay in sending to shareholders a key circular relating to its planned acquisition of a 51% equity interest in a target company, a deal structured as a disclosable and connected transaction involving the issuance of consideration shares under a specific mandate. The circular, which will include detailed information on the acquisition, independent recommendations and financial disclosures, was originally expected by mid-January 2026 but will now be dispatched on or before February 5, 2026 due to the need for additional preparation time, and the company has cautioned investors that completion of the transaction remains subject to outstanding conditions and may not proceed.
The most recent analyst rating on (HK:2012) stock is a Sell with a HK$0.39 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a leadership change, with Chief Executive Officer Jianping Sun stepping down effective 13 January 2026 to focus on personal affairs, and confirming there is no disagreement with the board or other matters requiring shareholder attention. The board has appointed veteran oil and gas executive Doug Brown, a professional engineer with extensive upstream and midstream experience and a long history with Sunshine’s assets and the West Ells thermal facility, as the new CEO on an annual remuneration of CAD600,000, a move that reinforces operational continuity and technical depth in the company’s senior management at a time when execution and regulatory engagement remain critical for its oil sands portfolio.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. announced that shareholders have approved, by a poll vote, an ordinary resolution at a special meeting held on January 13, 2026 (Hong Kong time) / January 12, 2026 (Calgary time), concerning the issuance of new shares under certain settlement agreements. The resolution, supported by approximately 75.74% of votes cast, authorizes the issuance and allotment of the relevant shares, ratifies the execution of the settlement agreements and related documents, and grants directors a specific mandate to carry out all necessary actions for the share issuance, signaling shareholder backing for the company’s proposed capital and settlement arrangements.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a delay in sending a shareholder circular related to a proposed connected transaction involving a subscription of convertible bonds under a specific mandate. The circular, which will detail the subscription, the related mandate, recommendations from the independent board committee, and advice from the independent financial adviser, is now expected to be dispatched on or before January 30, 2026, as the company requires additional time to finalize the information to be included. Completion of the transaction remains subject to fulfilment of certain conditions precedent, and the company has cautioned shareholders and potential investors that the deal may or may not proceed, underscoring ongoing uncertainty around this planned financing initiative and its potential impact on capital structure and project funding.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has entered into a placing agreement with Cheer Union Securities Limited to issue up to 114.28 million new shares, representing about 20% of its existing share capital, at HK$0.36 per share to at least six independent institutional or professional investors in Hong Kong. The placement, priced at a discount to recent market prices and expected to raise up to HK$41.1 million before expenses, will modestly dilute existing shareholders but is viewed by the board as fair, on normal commercial terms, and in the overall interests of the company and its investors by strengthening its capital base.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands has entered into a supplemental agreement with Nobao Energy Holding (China) Company Limited to extend the closing date for issuing 56,983,240 new shares under a specific mandate, which will be used to fully settle the consideration owed under an existing equity agreement. The closing date, previously set for 31 December 2025, has been pushed back to 30 June 2026, or a later date if mutually agreed, while all other terms of the equity agreement remain unchanged, indicating the parties’ continued commitment to completing the share-based settlement despite procedural delays.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands has called a special meeting of holders of its Class A common voting shares to be held in Hong Kong on January 13, 2026 (January 12, 2026 Calgary time), asking shareholders to approve the issuance and listing of new shares under a series of settlement agreements. The proposed resolution would ratify the execution of these settlement agreements, grant directors a specific mandate to allot and issue the relevant shares once Hong Kong listing approval and other conditions are met, and authorize directors to take related actions and make immaterial amendments, signaling a further use of equity to settle obligations and potentially adjust the company’s capital structure.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has entered into a brand license agreement with Swissdigital Europe GmbH, allowing it to use the Swissdigital Design brand and trademarks on Smart Heat Pump Air Conditioning Products in 26 European countries exclusively. This strategic move could enhance Sunshine Oilsands’ market presence in Europe, diversifying its portfolio beyond its traditional oil sands operations and potentially opening new revenue streams.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has provided an update on its financial situation and operational plans, addressing a disclaimer of opinion on its going concern status for the year ended December 31, 2024. The company has undertaken various repair and maintenance activities, including valve replacements and pipeline assessments, and is in the process of securing funds through a share issuance to support these efforts. Additionally, the company is working on reducing its leverage by settling with creditors through equity issuance, which has significantly lowered its gearing ratio. Sunshine Oilsands is also engaged in an appeal process with the Alberta Energy Regulator (AER) regarding a notice issued in May 2025, with a hearing expected in the second quarter of 2026. The company anticipates resuming production in the second half of 2026, although this timeline is subject to various uncertainties.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. announced a further delay in the dispatch of a circular related to the Issue of Shares under Specific Mandate for Settlement of Debts. Initially expected by December 4, 2025, the circular’s dispatch has been postponed to on or before December 19, 2025, due to the need for additional preparation time. Shareholders and potential investors are advised to exercise caution as the completion of the transactions is subject to certain conditions.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a special meeting of shareholders scheduled for January 12, 2026, in Calgary and January 13, 2026, in Hong Kong. The meeting will address the proposed issuance of shares under a specific mandate to settle debts, with the record date set for December 12, 2025. This move is part of the company’s strategy to manage its financial obligations and could impact shareholder value and company operations.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced the relocation of its corporate headquarters in Canada, effective November 26, 2025. The new address will be 270, 333 24th Avenue SW, Calgary, Alberta. This move may indicate a strategic shift or operational adjustment, potentially impacting the company’s logistical operations and stakeholder engagement.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a non-binding cooperation framework agreement with Southern Power Grid Energy Efficiency and Clean Energy Co. Limited to collaborate on new energy projects in Shandong and Guangdong, China. This agreement aims to diversify Sunshine’s energy business portfolio by leveraging Southern Power Energy’s expertise in project financing and management, with a focus on carbon reduction and energy conservation projects.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. announced the acquisition of an 80% equity interest in Ideal Harbor Limited for HK$8,000,000. This strategic acquisition, involving a company engaged in investment holding with stakes in high-tech enterprises like Phononic, Inc., is expected to enhance Sunshine Oilsands’ market positioning and operational capabilities.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced a proposed issue of convertible bonds under a specific mandate to settle debts amounting to HK$238,000,000. The bonds will be subscribed by a company wholly owned by Mr. Kwok Ping Sun, the Executive Chairman and Substantial Shareholder of Sunshine Oilsands. This transaction is considered a connected transaction under the Hong Kong Stock Exchange Listing Rules and requires independent shareholders’ approval. The issuance of these bonds could significantly impact the company’s share capital structure, potentially increasing the issued share capital by approximately 52.49% upon full conversion.
The most recent analyst rating on (HK:2012) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. reported that for the three and nine months ended September 30, 2025, the company had no bitumen production, and its average Dilbit sales volume was also zero. The company faces significant financial challenges, with only CAD0.54 million in cash and a reliance on financing and cash flow from operations to continue its projects. The company’s ability to continue as a going concern is uncertain, and it is dependent on successful operations at West Ells, favorable market conditions, and access to additional financing.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. reported a significant decline in petroleum sales for the first nine months of 2025, dropping to CAD 0 million from CAD 26.3 million in the same period of 2024, primarily due to equipment maintenance at its West Ells site. Despite the decrease in sales, the company achieved a net profit of CAD 0.7 million for Q3 2025, compared to a net loss in Q3 2024, indicating a potential recovery in financial performance.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. announced a further delay in the dispatch of a circular related to the acquisition of a 51% equity interest in a target company, which involves issuing consideration shares under a specific mandate. The circular, initially expected by November 13, 2025, will now be postponed to on or before January 15, 2026, due to the need for additional preparation time. This delay may impact shareholders and potential investors, as the completion of the transaction is contingent upon fulfilling certain conditions, and there is no guarantee it will proceed.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. announced a delay in the dispatch of a circular related to the issue of shares under a specific mandate for debt settlement. Initially expected by November 13, 2025, the circular’s release has been postponed to on or before December 4, 2025, to incorporate additional information. The completion of the transactions is contingent on meeting certain conditions, and stakeholders are advised to exercise caution in dealing with shares.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
Sunshine Oilsands Ltd. has announced that its board of directors will meet on November 13, 2025, in Calgary to approve and publish the company’s quarterly results for the periods ending September 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and operational progress, which could impact its market positioning and stakeholder confidence.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.