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Zhaojin Mining Industry Co
(1818)
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Rating:60Neutral
Price Target:
HK$17.00
▼(-28.99% Downside)
Action:Reiterated
Date:10/27/26
The score is supported primarily by improved financial performance (strong revenue and margin rebound plus higher operating and free cash flow), but is held back by weak technical trends (price below key moving averages with negative MACD and low RSI/Stoch) and balance-sheet risk from higher leverage (debt-to-equity ~1.26). Valuation is reasonable on P/E, though the low dividend yield provides limited offset.
Positive Factors
Profitability rebound
The substantial improvement in revenue and margins indicates stronger recent operating performance and increased earnings capacity. If maintained, better profitability can support reinvestment in mining assets, exploration and processing operations while providing greater resilience against normal cost or production fluctuations.
Negative Factors
Higher leverage
The rise in debt relative to equity increases financial risk and can reduce flexibility if operating performance weakens. For a gold producer, higher leverage may amplify the effect of softer prices or production challenges through greater financing obligations and less room for discretionary investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability rebound
The substantial improvement in revenue and margins indicates stronger recent operating performance and increased earnings capacity. If maintained, better profitability can support reinvestment in mining assets, exploration and processing operations while providing greater resilience against normal cost or production fluctuations.
Read all positive factors
Zhaojin Mining Industry Co (1818) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$54.94B
Dividend Yield0.74%
Average Volume (3M)14.75M
Price to Earnings (P/E)13.2
Beta (1Y)0.89
Revenue Growth49.44%
EPS Growth57.33%
CountryHK
Employees7,157
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.00
Shares Outstanding2,881,555,700
10 Day Avg. Volume16,314,071
30 Day Avg. Volume14,751,386
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$26.66Price Target Upside11.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.87
Revenue Forecast (FY)HK$16.38B
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 | 20.10B | 18.06B | 11.55B | 8.42B | 7.89B | 6.86B |
| Gross Profit | 8.87B | 7.57B | 4.52B | 3.24B | 2.66B | 2.69B |
| EBITDA | 8.61B | 7.15B | 4.03B | 2.70B | 2.23B | 1.70B |
| Net Income | 3.75B | 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 | 5.61B | 3.14B | 318.48M | 283.10M | -768.09M | 419.97M |
| Operating Cash Flow | 8.80B | 5.85B | 2.38B | 1.83B | 692.97M | 2.80B |
| Investing Cash Flow | -3.01B | -3.69B | -6.35B | -1.96B | -1.96B | -2.88B |
| Financing Cash Flow | -4.13B | -2.38B | 3.11B | -551.68M | 1.83B | 1.24B |
Zhaojin Mining Industry Co Technical Analysis
Negative
23.94
Price Trends
19.75
Negative
19.97
Negative
25.41
Negative
Market Momentum
-0.98
Positive
30.66
Neutral
15.71
Positive
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 17.18, above the 50-day MA of 19.75, and below the 200-day MA of 25.41, indicating a bearish trend. The MACD of -0.98 indicates Positive momentum. The RSI at 30.66 is Neutral, neither overbought nor oversold. The STOCH value of 15.71 is Positive, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$12.14B | 11.88 | 22.79% | 1.40% | 64.96% | 84.76% | |
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% | |
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:1818
Zhaojin Mining Industry Co
15.51
-13.44
-46.42%
HK:0340
Tongguan Gold Group Ltd.
2.29
-0.35
-13.18%
HK:3330
Lingbao Gold Group Company Ltd. Class H
15.30
-1.26
-7.59%
HK:1787
Shandong Gold Mining Co., Ltd. Class H
15.86
-16.00
-50.22%
HK:6693
Chifeng Jilong Gold Mining Co., Ltd. Class H
28.86
0.10
0.33%
HK:2259
Zijin Gold International Company Limited
119.50
-7.66
-6.02%
Zhaojin Mining Industry Co Corporate Events
Zhaojin Mining Reshapes Senior Management and Board Roles
Oct 19, 2026
Zhaojin Mining Industry announced a slate of senior management changes effective 17 October 2026, including the resignation of executive director, vice president and board secretary Wang Ligang, who is stepping down due to a reallocation of work. ...
Zhaojin Mining Details Board Structure and Committee Roles
Oct 19, 2026
Zhaojin Mining Industry Company Limited is a joint stock mining company incorporated in the PRC and listed under stock code 1818, operating primarily in gold and mineral resource development from its base in Zhaoyuan, Shandong. Its governance fram...
Zhaojin Mining Reports Third-Quarter 2026 Asset Growth Under PRC GAAP
Oct 15, 2026
Zhaojin Mining Industry Company Limited has released unaudited consolidated financial information for the nine months ended 30 September 2026, prepared under PRC GAAP and published on domestic financial information platforms. The report shows an i...
Zhaojin Mining Extends RMB1.4 Billion in Loans to Subsidiary Ruihai Mining
Oct 15, 2026
Zhaojin Mining Industry Company Limited is a PRC-based joint stock company operating in the mining sector, with a focus on gold and related mineral resources and a network of subsidiaries. It counts Zijin Mining as a substantial shareholder, refle...
Zhaojin Mining Sets October Board Meeting to Approve Q3 Results
Oct 5, 2026
Zhaojin Mining Industry Company Limited has scheduled a board meeting for 15 October 2026 to review and approve its unaudited consolidated third-quarter report for the nine months ended 30 September 2026. Following board approval, the company plan...
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...
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.