Chifeng Jilong Gold Mining Co., Ltd. Class H (6693) AI Stock Analysis

• Market Cap: HK$92.20B
• Dividend Yield: 0.54%
• Average Volume (3M): 5.68M
• Price to Earnings (P/E): 13.8
• Beta (1Y): 0.04
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 6,911
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.55
• Shares Outstanding: 236,499,800
• 10 Day Avg. Volume: 6,389,737
• 30 Day Avg. Volume: 5,677,052
• PEG Ratio: 0.10
• Price to Book (P/B): 2.68
• Price to Sales (P/S): 2.35
• P/FCF Ratio: 12.15
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.39
• Revenue Forecast (FY): HK$17.46B

• Rating: 78 Outperform
• Price Target: HK$43.00 ▲(35.56% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

Score is driven primarily by strong financial performance (high margins, accelerating revenue, low leverage, strong ROE), supported by a positive technical trend (price above major moving averages with neutral-to-constructive momentum). Valuation is the main limiter due to a moderate P/E and low dividend yield, alongside cash-flow consistency risks noted in financials.

Positive Factors

High profitability and revenue growth

Sustained high gross and net margins alongside double-digit TTM revenue growth indicate structurally efficient operations and cost control in mining and processing. Durable margins support reinvestment and resilience to operating shocks, improving long-term earnings power and competitive positioning.

Conservative leverage and strong ROE

Very low leverage provides balance-sheet flexibility to fund projects, weather commodity cycles, or pursue opportunistic M&A without immediate refinancing risk. High ROE shows effective capital allocation, underpinning sustainable shareholder returns and capacity to invest for growth over the medium term.

Improving cash generation

Meaningful FCF growth and stronger operating cash flow signal improving conversion as operations scale, increasing available internal funding for maintenance capex, reserves, or strategic investments. This enhances self-funding capacity and reduces reliance on external financing over time.

Negative Factors

Commodity price cyclicality

Primary exposure to gold prices makes revenues and margins susceptible to commodity swings, limiting predictability of cash flows and capital plans. Over a 2–6 month horizon typical price moves can materially alter profitability and complicate durable planning for capex and distributions.

Weak free cash flow conversion history

Although FCF grew recently, conversion at roughly half of reported net income and past negative conversion episodes indicate earnings do not reliably translate into cash. This constrains sustainable dividends, deleveraging and reinvestment, and raises structural funding uncertainty.

High asset intensity and capex/leverage risk

Mining is capital intensive; significant new projects or M&A would require large upfront spending and could quickly increase leverage despite current conservatism. That risk can compress returns and limit strategic flexibility, affecting balance-sheet strength over the medium term.

Chifeng Jilong Gold Mining Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Chifeng Jilong Gold Mining Co.,Ltd. operates as a gold and non-ferrous metal mining company. The company explores gold, zinc, lead, copper, and molybdenum deposits. It is also involved in copper smelting activities. In addition, the company offers gold bars and standard gold ingots. Further, it engages in disposal of waste electrical and electronic products. The company's copper is used in communication cables, wires, power equipment, pipelines, mechanical equipment, air-conditioning equipment, infrastructure, and construction equipment. Chifeng Jilong Gold Mining Co.,Ltd. was formerly known as Guangdong Oriental Brothers Investment Co., Ltd. and changed its name to Chifeng Jilong Gold Mining Co., Ltd. in December 2012. The company was founded in 1998 and is based in Beijing, China.

How the Company Makes Money

Chifeng Jilong Gold Mining Co., Ltd. Class H Financial Statement Overview

Summary

Strong profitability and growth in TTM with revenue up 16.4%, high gross margin (~49.5%) and net margin (~23.9%). Balance sheet is conservative (debt-to-equity ~0.08) with strong ROE (~25%). Main offsets are cash-flow variability (FCF ~53% of net income) and commodity-driven cyclicality.

Income Statement

Profitability and growth look strong in TTM (Trailing-Twelve-Months): revenue rose 16.4% with high gross margin (~49.5%) and a healthy net margin (~23.9%). The trajectory is notably positive versus 2022–2023, with expanding margins and much higher earnings power. The main watch-out is cyclicality typical of gold producers—results can swing with commodity prices, and margins were meaningfully lower just a few years ago.

Balance Sheet

Leverage is conservative and improving: debt-to-equity is low in TTM (Trailing-Twelve-Months) (~0.08) and down sharply from 2022–2023 levels, giving the company balance-sheet flexibility. Returns on shareholders’ equity are also strong (TTM ~25%), indicating efficient capital use. A key risk is that asset intensity is high (as expected in mining), so future large project spending or acquisitions could reintroduce leverage.

Cash Flow

Cash generation is solid and improving: operating cash flow is strong in TTM (Trailing-Twelve-Months) and free cash flow grew ~44%, signaling better conversion as operations scaled. However, free cash flow is only about ~53% of net income in TTM (Trailing-Twelve-Months), suggesting ongoing reinvestment needs and/or working-capital swings, and historical free cash flow has been inconsistent (including negative conversion in 2021–2022).

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2020
Income Statement
Total Revenue	11.45B	9.03B	7.22B	6.27B	3.78B	4.56B
Gross Profit	5.66B	3.96B	2.35B	1.80B	1.26B	1.41B
EBITDA	4.41B	4.31B	2.92B	2.37B	1.56B	1.71B
Net Income	2.72B	1.76B	803.93M	451.12M	582.58M	784.02M
Balance Sheet
Total Assets	23.47B	20.33B	18.72B	17.54B	8.05B	7.22B
Cash, Cash Equivalents and Short-Term Investments	5.03B	2.76B	1.68B	1.33B	1.84B	2.13B
Total Debt	1.06B	1.89B	2.48B	2.23B	2.97M	195.52M
Total Liabilities	7.95B	9.61B	10.18B	10.14B	3.05B	2.78B
Stockholders Equity	12.52B	7.92B	6.15B	5.19B	4.62B	4.09B
Cash Flow
Free Cash Flow	2.28B	1.75B	461.12M	-827.48M	-587.22M	98.32M
Operating Cash Flow	4.32B	3.27B	2.20B	1.09B	755.15M	1.07B
Investing Cash Flow	-2.37B	-958.41M	-1.77B	-3.98B	-277.87M	176.04M
Financing Cash Flow	460.85M	-1.10B	-228.12M	2.23B	55.91M	-464.55M

Chifeng Jilong Gold Mining Co., Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6693	78 Outperform	HK$92.20B	13.79	25.31%	0.54%	―	―
3939	72 Outperform	HK$69.48B	12.93	36.46%	1.32%	31.24%	58.16%
3330	66 Neutral	HK$37.34B	4.48	35.84%	1.40%	70.92%	249.45%
1818	64 Neutral	HK$115.91B	10.89	15.17%	0.16%	44.37%	125.87%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
0621	43 Neutral	HK$871.27M	-31.17	-1.02%	―	―	-25.51%

Chifeng Jilong Gold Mining Co., Ltd. Class H Corporate Events

Chifeng Jilong Appoints Experienced Mining Executive as Vice President

Chifeng Jilong Gold Mining Co., Ltd. has appointed 37-year-old mining engineer Mr. Zhang Tianhang as Vice President, effective 2 February 2026, with a term aligned to the current board’s tenure. Zhang brings extensive international and domestic mining experience, including senior roles at Eldorado Gold Corporation, Qinghai Dachaidan Mining, and most recently as vice president of Shanjin International Gold and chairman and CEO of its subsidiary Osinuo Gold Exploration and Mining, and he holds a small personal stake in the company’s A shares. The board confirmed that Zhang meets all regulatory and qualification requirements for senior management at a listed company, signalling a strengthening of Chifeng Jilong’s technical and managerial bench in support of its ongoing mining operations and future development.

The most recent analyst rating on (HK:6693) stock is a Buy with a HK$44.00 price target. To see the full list of analyst forecasts on Chifeng Jilong Gold Mining Co., Ltd. Class H stock, see the HK:6693 Stock Forecast page.

Chifeng Jilong Says No Undisclosed Reasons Behind Share Price Volatility

Chifeng Jilong Gold Mining said it has observed unusual recent movements in its Hong Kong-listed share price but, after internal inquiries, the board is unaware of any undisclosed reasons behind the volatility beyond information already in the public domain. The company stressed that its business operations are normal and stable, its core activities are progressing smoothly, and there are no material undisclosed matters requiring announcement, while advising investors and shareholders to exercise caution when trading its securities.

The most recent analyst rating on (HK:6693) stock is a Buy with a HK$49.00 price target. To see the full list of analyst forecasts on Chifeng Jilong Gold Mining Co., Ltd. Class H stock, see the HK:6693 Stock Forecast page.

Chifeng Jilong Issues Positive Profit Alert With Forecast 70–81% Net Profit Jump for 2025

Chifeng Jilong Gold Mining Co., Ltd. has issued a positive profit alert, indicating that it expects net profit attributable to shareholders for 2025 to reach approximately RMB3.0 billion to RMB3.2 billion, a year-on-year increase of about 70% to 81%. Profit after excluding non-recurring items is forecast at roughly RMB2.97 billion to RMB3.17 billion, up around 75% to 86% from the previous year, based on unaudited management accounts. The substantial projected profit growth underscores a significant improvement in operating performance and may strengthen the company’s financial position and appeal to investors, although the figures remain preliminary and unaudited.

The most recent analyst rating on (HK:6693) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on Chifeng Jilong Gold Mining Co., Ltd. Class H stock, see the HK:6693 Stock Forecast page.