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Zhaojin Mining Industry Co
(1818)
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Rating:67Neutral
Price Target:
HK$28.00
▲(16.96% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by materially improved financial performance (higher revenue, stronger margins, and better cash flow), but is tempered by rising leverage and imperfect cash conversion. Technically, near-term momentum is constructive, yet the longer-term trend remains weaker with stochastics elevated. Valuation is middling with a low dividend yield.
Positive Factors
Revenue and Margin Expansion
Higher revenue and materially wider margins show improved operating performance and earnings capacity. If sustained through the mining cycle, this provides a stronger base for funding exploration, maintenance investment and future production growth.
Negative Factors
Higher Financial Leverage
Rising leverage increases fixed financial obligations and reduces flexibility if gold prices, grades or production volumes weaken. It also raises refinancing and balance-sheet risk, making future investment more dependent on sustained operating cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Expansion
Higher revenue and materially wider margins show improved operating performance and earnings capacity. If sustained through the mining cycle, this provides a stronger base for funding exploration, maintenance investment and future production growth.
Read all positive factors
Zhaojin Mining Industry Co (1818) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$78.36B
Dividend Yield0.52%
Average Volume (3M)23.97M
Price to Earnings (P/E)18.5
Beta (1Y)0.66
Revenue Growth49.44%
EPS Growth61.42%
CountryHK
Employees7,296
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.02
Shares Outstanding2,881,555,700
10 Day Avg. Volume23,967,218
30 Day Avg. Volume23,972,143
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)5.00
Price to Sales (P/S)5.37
P/FCF Ratio30.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$30.19Price Target Upside26.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)1.34
Revenue Forecast (FY)HK$19.51B
Zhaojin Mining Industry Co Business Overview & Revenue Model
Company Description
As an investment holding enterprise, Zhaojin Mining Industry Company Limited is deeply involved in the exploration, extraction, refining, and marketing of gold, silver, and copper throughout the People's Republic of China. Its business activities ...
How the Company Makes Money
Zhaojin Mining Industry Co., Ltd. primarily makes money by producing and selling gold. Its core revenue model is tied to: (1) Gold sales: revenue generated from the sale of gold produced from its mines, typically priced with reference to prevailin...
Zhaojin Mining Industry Co Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
63
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.98B | 18.06B | 11.55B | 8.42B | 7.89B | 6.86B |
| Gross Profit | 8.81B | 7.57B | 4.52B | 3.24B | 2.66B | 2.69B |
| EBITDA | 8.32B | 7.09B | 4.03B | 2.69B | 2.23B | 1.73B |
| Net Income | 3.73B | 3.61B | 1.45B | 686.43M | 401.95M | 33.70M |
Balance Sheet | ||||||
| Total Assets | 61.03B | 57.31B | 53.57B | 46.87B | 45.89B | 43.02B |
| Cash, Cash Equivalents and Short-Term Investments | 8.35B | 6.23B | 3.59B | 4.44B | 5.11B | 4.24B |
| Total Debt | 24.51B | 24.36B | 20.05B | 17.79B | 18.81B | 16.91B |
| Total Liabilities | 35.88B | 33.50B | 28.38B | 24.62B | 25.84B | 23.29B |
| Stockholders Equity | 20.19B | 19.40B | 21.18B | 18.86B | 16.61B | 16.30B |
Cash Flow | ||||||
| Free Cash Flow | 2.17B | 3.14B | 318.48M | 283.10M | -768.09M | 419.97M |
| Operating Cash Flow | 3.90B | 5.85B | 2.38B | 1.83B | 692.97M | 2.80B |
| Investing Cash Flow | -2.03B | -3.69B | -6.35B | -1.96B | -1.96B | -2.88B |
| Financing Cash Flow | -3.23B | -2.38B | 3.11B | -551.68M | 1.83B | 1.24B |
Zhaojin Mining Industry Co Technical Analysis
Negative
23.94
Price Trends
21.53
Positive
22.58
Negative
27.45
Negative
Market Momentum
-0.04
Positive
45.78
Neutral
33.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1818, the sentiment is Negative. The current price of 23.94 is above the 20-day moving average (MA) of 23.31, above the 50-day MA of 21.53, and below the 200-day MA of 27.45, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 45.78 is Neutral, neither overbought nor oversold. The STOCH value of 33.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1818.
Zhaojin Mining Industry Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$92.55B | 17.42 | 27.07% | 1.36% | 47.35% | 61.26% | |
76 Outperform | HK$16.71B | 16.07 | 22.79% | 1.04% | 64.96% | 84.76% | |
76 Outperform | HK$428.21B | 17.38 | 28.53% | 1.84% | 106.35% | 216.24% | |
70 Outperform | HK$32.55B | 14.76 | 28.91% | 0.98% | -9.85% | -28.13% | |
67 Neutral | HK$78.36B | 18.48 | 18.85% | 0.52% | 49.44% | 61.42% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | HK$177.35B | 30.46 | 17.31% | 2.06% | ― | ― |
* Basic Materials Sector Average
HK:1818
Zhaojin Mining Industry Co
21.50
-7.11
-24.85%
HK:0340
Tongguan Gold Group Ltd.
2.97
0.80
36.87%
HK:3330
Lingbao Gold Group Company Ltd. Class H
23.36
6.62
39.58%
HK:1787
Shandong Gold Mining Co., Ltd. Class H
24.74
-8.64
-25.88%
HK:6693
Chifeng Jilong Gold Mining Co., Ltd. Class H
39.34
6.91
21.32%
HK:2259
Zijin Gold International Company Limited
164.30
46.25
39.17%
Zhaojin Mining Industry Co Corporate Events
Zhaojin Mining Posts Strong Interim Profit But Withholds Dividend
Aug 23, 2026
Zhaojin Mining Industry reported a strong set of unaudited interim results for the six months ended 30 June 2026, prepared under HKAS 34 and reviewed by its audit committee. Revenue rose 29.38% year-on-year to about RMB9.02 billion, driven by high...
Zhaojin Mining Sets Board Meeting to Approve 2026 Interim Results
Aug 11, 2026
Zhaojin Mining Industry Company Limited has scheduled a board meeting for 21 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider authorizing the publication of these i...
Zhaojin Mining Reshapes Top Leadership, Promotes Li Guanghui to President
Aug 2, 2026
Zhaojin Mining Industry announced a leadership reshuffle effective 2 August 2026, with executive director Wang Leyi stepping down as president and executive director Duan Lei resigning as authorised representative following internal work reallocat...
Zhaojin Mining Sets Out Board Line-Up and Governance Committees
Aug 2, 2026
Zhaojin Mining Industry Company Limited has disclosed the current composition of its board of directors, naming Wang Leyi as chairman alongside a team of executive, non-executive and independent non-executive directors. The governance structure un...
Zhaojin Mining shareholders back chairman’s appointment as executive director
Jun 12, 2026
Zhaojin Mining Industry Company Limited reported the voting results of its 2026 second extraordinary general meeting held in Zhaoyuan, Shandong, where shareholders representing about 68.33% of the company’s issued share capital were present ...
Zhaojin Mining Updates Final 2025 Dividend Details and Withholding Tax Arrangements
Jun 1, 2026
Zhaojin Mining Industry Company Limited has updated details of its final dividend for the year ended 31 December 2025, confirming a payout of RMB 0.1 per share, with Hong Kong shareholders to receive HKD 0.114769 per share based on a specified exc...
Zhaojin Mining Shareholders Back Dividend and Auditor Reappointment at 2025 AGM
Jun 1, 2026
Shareholders of Zhaojin Mining Industry Company Limited approved all resolutions at the 2025 annual general meeting held in Shandong on 1 June 2026, with about 69% of issued share capital represented. The board report, 2025 audited financial state...
Zhaojin Mining Wins Unanimous Domestic Shareholder Backing for H-Share Buyback Mandate
Jun 1, 2026
Zhaojin Mining Industry Company Limited announced the voting results of its Domestic Share Class Meeting held in Zhaoyuan, Shandong, where holders of all 660,837,607 issued Domestic Shares, representing 100% attendance, participated in person or b...
Zhaojin Mining Calls Extraordinary Meeting to Appoint New Executive Director
May 27, 2026
Zhaojin Mining Industry Company Limited has convened its 2026 Second Extraordinary General Meeting for 9:00 a.m. on 12 June 2026 in Zhaoyuan City, Shandong Province, where shareholders will vote on the proposed appointment of Mr. Wang Leyi as an e...
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.