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Major state-owned Chinese gold miner, one of the country's largest gold producers.
Major state-owned Chinese gold miner, one of the country's largest gold producers.
Same company as the Shanghai-listed shares (600547), so earnings track the gold price and the ounces sold from its own mines and from bought-in material it refines. The Shandong provincial government controls it through the parent group. The Hong Kong class gives overseas investors a direct line into it.
In one line: China's largest state-owned gold miner, akin to a domestic Newmont.
Moat: none (scale). Large-scale domestic gold reserves but no pricing power over the commodity gold price.
Headquarters: Jinan, China · Founded: 2000
Size Shandong Gold Mining (1787.HK) is a Hong Kong Materials company (Precious Metals) with a market value of $16.4B, the 105th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$18.08 on 6 Nov 2026.
Performance Over six months the shares fell 41.6%, against -7.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 11.8% over the last twelve months (peer median +36.3%); the operating margin is 13.5% (peer median 46.0%).
Valuation It trades at 11.1× forward earnings against a peer median of 11.6× (9th cheapest of 21).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | n/a | HK$89.5B | HK$65.5B | HK$58.5B |
| Revenue growth | — | — | +37% | +12% | — |
| Gross profit | n/a | n/a | HK$13.2B | HK$9.53B | HK$7.17B |
| EBITDA | n/a | n/a | HK$14.5B | HK$10.5B | HK$6.62B |
| Net income | n/a | n/a | HK$2.70B | HK$1.99B | HK$977M |
| Free cash flow | n/a | n/a | HK$4.02B | -HK$2.26B | -HK$3.41B |
| Capital expenditure | n/a | n/a | HK$30.3B | HK$11.9B | HK$5.59B |
| Total debt | n/a | n/a | HK$84.5B | HK$71.7B | HK$41.3B |
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 |
|---|---|---|---|---|---|---|
| Shandong Gold Mining 1787.HK | $16.4B | -42% | +12% | 13% | 11.1× | n/a |
| Zijin Mining 2899.HK | $111B | -23% | +21% | 30% | 8.3× | -6.0% |
| Zhaojin Mining Industry 1818.HK | $7.87B | -42% | +49% | 34% | 17.0× | -2.5% |
| DPM Metals DPM.TO | $8.61B | +18% | +96% | 55% | 10.1× | 5.1% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
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 | 1787.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.6% | -1.1% | 7th lowest of 21 |
| 6-month return | -41.6% | -7.6% | lowest of 21 |
| Distance from 52-week high | -66.8% | -33.8% | lowest of 21 |
| Revenue growth (TTM) | +11.8% | +36.3% | 2nd lowest of 21 |
| Operating margin | 13.5% | 46.0% | 2nd lowest of 21 |
| Forward P/E | 11.1× | 11.6× | 9th cheapest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Gold Mining 1787.HK | Hong Kong | $16.4B | -42% | +12% | 13% | 11.1× | n/a | n/a |
| Lundin Gold LUG.TO | Canada | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% | +39.0% |
| Coeur Mining CDE | United States | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% | +21.6% |
| Pan American Silver PAAS.TO | Canada | $17.2B | -26% | +37% | 39% | 9.5× | 4.4% | +23.0% |
| Zhongjin Gold 600489.SS | China | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% | +10.5% |
| Evolution Mining EVN.AX | Australia | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% | +24.4% |
| Endeavour Mining EDV.TO | Canada | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% | +25.4% |
| Equinox Gold EQX.TO | Canada | $13.5B | -17% | +63% | 36% | 9.7× | 21.0% | +17.5% |
| Alamos Gold AGI.TO | Canada | $13.4B | -22% | +41% | 57% | 11.3× | 7.8% | +20.3% |
| Royal Gold RGLD | United States | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% | +15.6% |
| Chifeng Jilong Gold Mining 600988.SS | China | $11.6B | -2% | +23% | 43% | 17.4× | -5.7% | +22.6% |
| Fresnillo FRES.L | United Kingdom | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% | +12.6% |
| IAMGOLD IMG.TO | Canada | $10.8B | +6% | +83% | 48% | 9.1× | 1.4% | +19.1% |
| Northern Star Resources NST.AX | Australia | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% | +22.5% |
| Kinross Gold K.TO | Canada | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% | +11.8% |
| Shanjin International Gold 000975.SZ | China | $10.2B | -6% | -4% | 36% | 15.2× | -5.7% | +16.7% |
| G Mining Ventures GMIN.TO | Canada | $9.98B | -10% | +72% | 66% | 19.4× | n/a | n/a |
| Hecla Mining HL | United States | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% | +15.0% |
| Harmony Gold Mining Co. Ltd. Sponsored ADR HMY | United States | $9.84B | -3% | +50% | 45% | 5.3× | -14.1% | +17.7% |
| Eldorado Gold ELD.TO | Canada | $9.37B | +11% | +25% | 45% | 7.7× | n/a | n/a |
| China Gold International Resources CGG.TO | Canada | $9.08B | +10% | +53% | 56% | 9.7× | 5.2% | +10.4% |