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Chinese gold mining company operating mines in Shanxi province.
Chinese gold mining company operating mines in Shanxi province.
In one line: A small Chinese gold miner.
Moat: none. Commodity gold producer with returns driven mainly by gold prices.
Headquarters: Shanxi, China · Employees: 768
Size Tongguan Gold (0340.HK) is a Hong Kong Materials company (Precious Metals) with a market value of $1.73B, the 454th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.55 on 6 Nov 2026.
Performance Over six months the shares fell 14.4%, against -13.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th highest of 19 in its peer set.
Growth Revenue grew 65.0% over the last twelve months (peer median +56.0%); the operating margin is 51.9% (peer median 30.6%).
Valuation It trades at 8.2× forward earnings against a peer median of 10.9× (4th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +49%, so the hurdle is -59 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.6 points above its cost of capital (6.1% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.94B | HK$2.40B | HK$1.60B | HK$1.50B | HK$1.24B |
| Revenue growth | — | +49% | +7% | +20% | — |
| Gross profit | HK$1.77B | HK$1.31B | HK$523M | HK$168M | HK$139M |
| EBITDA | HK$1.67B | HK$1.22B | HK$451M | HK$153M | HK$120M |
| Net income | HK$1.01B | HK$830M | HK$211M | HK$51.5M | HK$50.3M |
| Free cash flow | HK$499M | HK$580M | HK$278M | -HK$132M | HK$32.4M |
| Capital expenditure | HK$707M | HK$468M | HK$238M | HK$106M | HK$102M |
| Total debt | n/a | HK$515M | HK$534M | HK$565M | HK$162M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tongguan Gold 0340.HK | $1.73B | -14% | +65% | 52% | 8.2× | -9.9% |
| Lingbao Gold 3330.HK | $2.94B | -28% | -10% | 22% | 8.0× | -5.6% |
| Zhaojin Mining Industry 1818.HK | $7.87B | -42% | +49% | 34% | 17.0× | -2.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0340.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.4% | -5.9% | 3rd highest of 21 |
| 6-month return | -14.4% | -13.8% | 10th highest of 19 |
| Distance from 52-week high | -38.4% | -35.2% | 8th lowest of 21 |
| Revenue growth (TTM) | +65.0% | +56.0% | 7th highest of 15 |
| Operating margin | 51.9% | 30.6% | 2nd highest of 15 |
| Forward P/E | 8.2× | 10.9× | 4th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -9.9% | -1.2% | 2nd least demanding of 12 |
| Growth delivered (Del g) | +48.9% | +19.0% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -58.8 pp | -17.6 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +17.6 pp | +4.7 pp | 7th highest of 18 |
| EV / EBITDA | 8.2× | 4.9× | 2nd most expensive of 11 |
| Net debt / EBITDA | -0.0× | -0.1× | 6th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tongguan Gold 0340.HK | Hong Kong | $1.73B | -14% | +65% | 52% | 8.2× | -9.9% | +48.9% |
| Hycroft Mining HYMC | United States | $1.75B | -51% | n/a | n/a | n/a | n/a | n/a |
| Southern Cross Gold Consolidated SXGC.TO | Canada | $1.65B | -9% | n/a | n/a | n/a | n/a | n/a |
| Resolute Mining RSG.AX | Australia | $1.81B | -12% | +5% | 35% | 10.0× | -7.2% | +8.9% |
| Beijing Xiaocheng Technology Stock 300139.SZ | China | $1.64B | -25% | +39% | 27% | n/a | 33.6% | +27.8% |
| Alkane Resources ALK.AX | Australia | $1.63B | +11% | +403% | 34% | 11.9× | -1.2% | +48.9% |
| Henan Yuguang Gold & Lead 600531.SS | China | $1.83B | -32% | +48% | 2% | n/a | 7.9% | +19.6% |
| Sunshine Silver Mining & Refining SSMR | United States | $1.91B | n/a | +422% | -3,022% | n/a | n/a | n/a |
| Snowline Gold SGD.TO | Canada | $1.93B | -6% | n/a | n/a | n/a | n/a | n/a |
| Ora Banda Mining OBM.AX | Australia | $1.93B | +4% | +101% | 39% | 16.6× | 1.1% | +101.1% |
| Sinda SIND | United States | $1.95B | n/a | n/a | n/a | n/a | n/a | n/a |
| Silvercorp Metals SVM.TO | Canada | $1.99B | -31% | +59% | 56% | 12.9× | 4.7% | +19.0% |
| Mineros MSA.TO | Canada | $2.00B | +73% | +77% | 39% | 7.3× | -5.8% | +11.8% |
| DRDGOLD Ltd. Sponsored ADR DRD | United States | $2.00B | -16% | +53% | 51% | 8.1× | -16.4% | +14.1% |
| Orezone Gold ORE.TO | Canada | $1.46B | +31% | +93% | 40% | 6.9× | -8.0% | +110.4% |
| Bellevue Gold BGL.AX | Australia | $1.46B | -16% | +14% | 5% | 13.3× | 41.2% | +13.9% |
| Sino-Platinum Metals 600459.SS | China | $2.06B | -17% | -27% | 2% | 19.0× | n/a | n/a |
| Perenti PRN.AX | Australia | $1.31B | -8% | -4% | 9% | 10.3× | -9.8% | +9.8% |
| AbraSilver Resource ABRA.TO | Canada | $1.30B | -37% | n/a | n/a | n/a | n/a | n/a |
| Minerals 260 MI6.AX | Australia | $1.29B | +1% | n/a | n/a | n/a | n/a | n/a |
| Endeavour Silver EDR.TO | Canada | $2.34B | -20% | +198% | 26% | 10.9× | n/a | n/a |