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Shandong Gold Mining Co., Ltd. Class H
(1787)
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Rating:52Neutral
Price Target:
HK$16.50
â–¼(-33.47% Downside)
Action:Reiterated
Date:10/30/26
The score is held back primarily by elevated leverage and weak/volatile free cash flow despite improved scale and operating profitability. Technicals are also a meaningful drag, with the stock in a clear downtrend and bearish momentum signals. Valuation is only moderately supportive: the dividend helps, but the P/E looks high for a cyclical profile with increased balance-sheet risk.
Positive Factors
Revenue scale-up
Strong multi-year revenue expansion indicates that the company has increased its operating scale and market activity across the gold value chain. Larger revenue generation can support more efficient fixed-cost absorption and provide a broader base for sustaining production and investment.
Negative Factors
Elevated leverage
The sharp increase in debt has materially reduced balance-sheet flexibility and makes the company more sensitive to gold-price movements, funding costs, and operational volatility. Higher leverage may also constrain investment choices and increase the pressure to preserve cash during weaker commodity conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue scale-up
Strong multi-year revenue expansion indicates that the company has increased its operating scale and market activity across the gold value chain. Larger revenue generation can support more efficient fixed-cost absorption and provide a broader base for sustaining production and investment.
Read all positive factors
Shandong Gold Mining Co., Ltd. Class H (1787) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$115.10B
Dividend Yield3.34%
Average Volume (3M)18.52M
Price to Earnings (P/E)27.1
Beta (1Y)1.08
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees29,282
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.81
Shares Outstanding995,486,200
10 Day Avg. Volume16,317,860
30 Day Avg. Volume18,515,890
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$22.05Price Target Upside-11.10% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)1.94
Revenue Forecast (FY)HK$133.54B
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
Shandong Gold Mining Co., Ltd. primarily makes money by producing and selling gold derived from its mining operations. Its core revenue stream is the sale of gold products (commonly including doré bars and/or refined gold bullion), where revenue i...
Shandong Gold Mining Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
52
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 111.00B | 104.29B | 82.52B | 59.28B | 50.31B | 33.93B |
| Gross Profit | 22.90B | 21.34B | 13.62B | 9.84B | 7.09B | 3.58B |
| EBITDA | 16.94B | 18.27B | 12.73B | 9.13B | 6.29B | 2.52B |
| Net Income | 3.96B | 4.74B | 2.95B | 2.33B | 1.25B | ― |
Balance Sheet | ||||||
| Total Assets | 179.49B | 170.37B | 160.66B | 134.60B | 90.72B | 78.31B |
| Cash, Cash Equivalents and Short-Term Investments | 16.88B | 20.08B | 14.83B | 14.13B | 12.59B | 7.69B |
| Total Debt | 62.22B | 54.53B | 57.00B | 50.19B | 20.95B | 12.87B |
| Total Liabilities | 112.32B | 105.99B | 102.09B | 81.34B | 54.03B | 46.52B |
| Stockholders Equity | 46.09B | 44.90B | 37.80B | 33.08B | 32.88B | 29.22B |
Cash Flow | ||||||
| Free Cash Flow | 2.18B | 8.56B | -6.76B | -2.33B | -1.24B | -1.73B |
| Operating Cash Flow | 15.62B | 21.49B | 13.34B | 6.85B | 2.97B | 1.82B |
| Investing Cash Flow | -18.49B | -13.61B | -22.80B | -20.62B | -5.25B | -2.61B |
| Financing Cash Flow | -1.29B | -1.87B | 11.00B | 14.44B | 5.46B | 2.14B |
Shandong Gold Mining Co., Ltd. Class H Technical Analysis
Negative
24.80
Price Trends
21.64
Negative
20.82
Negative
27.62
Negative
Market Momentum
-1.31
Positive
29.36
Positive
13.11
Positive
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 24.8 is above the 20-day moving average (MA) of 18.07, above the 50-day MA of 21.64, and below the 200-day MA of 27.62, indicating a bearish trend. The MACD of -1.31 indicates Positive momentum. The RSI at 29.36 is Positive, neither overbought nor oversold. The STOCH value of 13.11 is Positive, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$319.82B | 12.63 | 28.53% | 2.51% | 106.35% | 216.24% | |
66 Neutral | HK$79.87B | 14.07 | 23.19% | 1.87% | 28.82% | 20.15% | |
65 Neutral | HK$834.55B | 10.22 | 36.09% | 3.30% | 21.28% | 65.24% | |
63 Neutral | HK$21.10B | 9.21 | 29.12% | 1.55% | -9.85% | 49.04% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$54.94B | 13.16 | 18.96% | 0.74% | 49.44% | 57.33% | |
52 Neutral | HK$115.10B | 27.06 | 12.37% | 3.34% | ― | ― |
* Basic Materials Sector Average
HK:1787
Shandong Gold Mining Co., Ltd. Class H
15.86
-16.27
-50.64%
HK:1818
Zhaojin Mining Industry Co
15.51
-13.40
-46.35%
HK:2899
Zijin Mining Group Co
27.86
-3.47
-11.08%
HK:3330
Lingbao Gold Group Company Ltd. Class H
15.30
-0.99
-6.07%
HK:6693
Chifeng Jilong Gold Mining Co., Ltd. Class H
28.86
0.35
1.24%
HK:2259
Zijin Gold International Company Limited
119.50
-9.13
-7.10%
Shandong Gold Mining Co., Ltd. Class H Corporate Events
Shandong Gold Raises Caps on Connected Transactions With SDG Group
Oct 28, 2026
Shandong Gold Mining Co., Ltd. has a three-year New Comprehensive Service Framework Agreement with SDG Group covering mutual procurement and sales of materials, equipment, energy, gold and other mineral products, as well as trademark licensing, pr...
Shandong Gold Mining Renews Services Framework With SDG Group for 2027–2029
Oct 28, 2026
Shandong Gold Mining has approved a new comprehensive service framework agreement with its parent SDG Group Co. to replace the existing arrangement expiring at the end of 2026, covering procurement and sales of supplies, products and services, tra...
Shandong Gold Publishes Unaudited Third-Quarter 2026 Report
Oct 28, 2026
Shandong Gold Mining Co., Ltd., a major Chinese gold producer listed in Hong Kong and on the mainland, operates under China Accounting Standards and maintains a standard board and senior management structure, including executives and independent n...
Shandong Gold Calls November EGM to Approve Share Buyback Plan
Oct 22, 2026
Shandong Gold Mining Co., Ltd. has called its fourth extraordinary general meeting of 2026 for 12 November in Jinan, Shandong Province, to seek shareholder approval for a share repurchase plan via centralized bidding. The proposed special resoluti...
Shandong Gold Calls H-Share Meeting to Approve 2026 Share Buyback Plan
Oct 22, 2026
Shandong Gold Mining Co., Ltd. has called its first 2026 class meeting for H shareholders on 12 November 2026 in Jinan, Shandong, immediately following the A share class meeting. H share investors on the register as of 6 November 2026 will be elig...
Shandong Gold Sets Up Hong Kong Treasury Vehicle in Connected Deal
Oct 16, 2026
Shandong Gold Mining Co., Ltd. has approved the creation of Hong Kong Treasury Company, a new treasury vehicle jointly invested by its wholly owned subsidiary Mining Hong Kong and Yacheng Company, a wholly owned unit of controlling shareholder Gol...
Shandong Gold Unveils Modest A-Share Buyback to Cut Capital
Oct 16, 2026
Shandong Gold Mining Co., Ltd. plans to repurchase a portion of its A shares through centralized bidding, using RMB300 million to RMB400 million of self-owned and self-raised funds at a maximum price of RMB48.57 per share, representing around 0.13...
Shandong Gold Mining Appoints New CFO After Retirement of Incumbent
Oct 16, 2026
Shandong Gold Mining Co., Ltd. announced that chief financial officer Teng Hongmeng has resigned after reaching the statutory retirement age, effective upon submission of his resignation to the board. The company stated that Teng has completed a f...
Shandong Gold Sets October Board Meeting to Approve Q3 2026 Results
Oct 15, 2026
Shandong Gold Mining Co., Ltd. has scheduled a board meeting for 28 October 2026 to review and approve its third-quarter results for the nine months ended 30 September 2026 and to authorize the publication of those figures. The meeting signals an ...
Shandong Gold Chairman Proposes A-Share Buyback to Boost Investor Confidence
Sep 29, 2026
Shandong Gold Mining Co., Ltd. has disclosed an overseas regulatory announcement in Hong Kong, relaying an indicative notice published on the Shanghai Stock Exchange about a proposed A-share repurchase. The disclosure underscores the company’...
Shandong Gold Cuts 2026 Gold Output Target Amid Safety and Construction Drive
Sep 24, 2026
Shandong Gold Mining Co., Ltd. has revised its 2026 production and operation plan after safety inspections and intensified capital construction at domestic mines curbed output. The board has cut the mine-produced gold target from no less than 49 t...
Shandong Gold Updates Market on Controlling Shareholder’s Competition Undertakings
Sep 24, 2026
Shandong Gold Mining Co., Ltd. has issued an overseas regulatory announcement detailing progress on how its controlling shareholder, Shandong Gold Group Co., Ltd., is fulfilling undertakings to avoid horizontal competition with the listed company....
Shandong Gold Mining Updates Board Roles and Committee Structure
Aug 28, 2026
Shandong Gold Mining Co., Ltd., a major player in China’s gold mining and production industry, has a diversified board comprised of executive, employee, and independent non-executive directors overseeing its Class H share operations in Hong ...
Shandong Gold Mining Lifts Interim Profit Despite Revenue Dip
Aug 28, 2026
Shandong Gold Mining reported interim 2026 results showing operating income of RMB53.59 billion for the first half, a 5.6% year-on-year decline, while profit before tax surged 48.7% to RMB8.16 billion and net profit attributable to shareholders ro...
Shandong Gold Revises Accounting Policies to Align With New PRC Standards
Aug 28, 2026
Shandong Gold Mining Co., Ltd. has updated its accounting policies to align with Interpretation No. 19 and Interpretation No. 20 of the Accounting Standards for Business Enterprises issued by China’s Ministry of Finance. The board states tha...
Shandong Gold Overhauls Board With New Independent Director, Committee Changes
Aug 21, 2026
Shandong Gold Mining Co., Ltd. held its 2026 third extraordinary general meeting in Jinan, where shareholders approved the election of Gao Yongtao as an independent non-executive director. The resolution passed with more than 99% of valid votes ca...
Shandong Gold Mining Clarifies Board Roles and Governance Structure
Aug 21, 2026
Shandong Gold Mining has announced the composition of its board of directors and clarified the specific roles of each member, including the designation of its chairman and the mix of executive and independent non-executive directors. The company a...
Shandong Gold Calls August EGM to Elect New Independent Director
Aug 3, 2026
Shandong Gold Mining Co., Ltd. has called its third extraordinary general meeting of 2026 for 21 August in Jinan, where shareholders will vote on the election of Gao Yongtao as an independent non-executive director for the company’s seventh ...
Shandong Gold Declares 2026 Interim Dividend and Sets H-Share Tax, Payment Details
Aug 3, 2026
Shandong Gold Mining Co., Ltd. has approved a 2026 interim dividend of RMB1.00 per 10 shares, totaling about RMB460.99 million based on its current share capital, with payouts in renminbi for A shareholders and Shanghai-Hong Kong Stock Connect inv...
Shandong Gold Updates Interim Dividend and Tax Details for H Shareholders
Aug 3, 2026
Shandong Gold Mining Co., Ltd., a major Chinese gold producer listed in Hong Kong, operates in the gold mining sector with a focus on exploration, extraction and production activities that supply both domestic and international markets. Its H shar...
Shandong Gold Mining Proposes Independent Director With Strong Mine Safety Credentials
Jul 30, 2026
Shandong Gold Mining has proposed the election of mining safety expert and academic Gao Yongtao as an independent non-executive director for its seventh board session, with his term to run from shareholder approval until the end of that board̵...
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.