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Overseas gold-mining arm of Zijin Mining, spun off and listed in Hong Kong to hold its international gold assets.
Overseas gold-mining arm of Zijin Mining, spun off and listed in Hong Kong to hold its international gold assets.
Sells gold at the market price from mines outside China, so profit follows the gold price and operating costs. Its parent, Zijin Mining, is the controlling shareholder and used the spin-off to hold its overseas gold assets in one separately listed company, with growth coming from acquisitions as well as mine expansions.
In one line: The overseas-gold-assets spinoff of a major Chinese diversified miner (Zijin Mining).
Moat: none (scale). Owns large gold mines but has no pricing power over the commodity gold price.
Headquarters: Fujian, China · Founded: 2024 · Employees: 11,014
Size Zijin Gold International (2259.HK) is a Hong Kong Materials company (Precious Metals) with a market value of $46.6B, the 38th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$136.50 on 6 Nov 2026.
Performance Over six months the shares fell 18.7%, against -11.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 106.3% over the last twelve months (peer median +39.2%); the operating margin is 54.0% (peer median 50.7%).
Valuation It trades at 15.7× forward earnings against a peer median of 11.9× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +43%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 26.7 points above its cost of capital (19.9% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$57.6B | HK$42.0B | HK$23.3B | HK$17.7B | HK$14.2B |
| Revenue growth | — | +80% | +32% | +24% | — |
| Gross profit | HK$33.1B | HK$22.1B | HK$8.85B | HK$4.64B | HK$4.86B |
| EBITDA | HK$37.4B | HK$25.6B | HK$11.0B | HK$6.84B | HK$6.60B |
| Net income | HK$19.8B | HK$12.5B | HK$3.76B | HK$1.80B | HK$1.44B |
| Free cash flow | HK$23.5B | HK$13.6B | HK$2.85B | HK$3.57B | HK$1.31B |
| Capital expenditure | HK$5.90B | HK$4.80B | HK$3.80B | HK$3.74B | HK$4.45B |
| Total debt | n/a | HK$5.09B | HK$5.69B | HK$5.74B | HK$5.39B |
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 |
|---|---|---|---|---|---|---|
| Zijin Gold International 2259.HK | $46.6B | -19% | +106% | 54% | 15.7× | 17.3% |
| Shandong Gold Mining 1787.HK | $16.4B | -42% | +12% | 13% | 11.1× | n/a |
| DPM Metals DPM.TO | $8.61B | +18% | +96% | 55% | 10.1× | 5.1% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| Gold.com GOLD | $1.09B | -17% | +132% | 1% | 13.8× | n/a |
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 | 2259.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.9% | +2.4% | 7th lowest of 21 |
| 6-month return | -18.7% | -11.1% | 6th lowest of 21 |
| Distance from 52-week high | -49.1% | -27.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | +106.3% | +39.2% | 3rd highest of 21 |
| Operating margin | 54.0% | 50.7% | 8th highest of 21 |
| Forward P/E | 15.7× | 11.9× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 17.3% | -3.0% | 4th most demanding of 20 |
| Growth delivered (Del g) | +43.4% | +17.4% | highest of 20 |
| Hurdle (Req g minus delivered) | -26.1 pp | -16.3 pp | 4th least demanding of 20 |
| ROIC minus cost of capital | +26.7 pp | +11.9 pp | 6th highest of 20 |
| EV / EBITDA | 9.2× | 8.4× | 6th most expensive of 17 |
| Net debt / EBITDA | -0.7× | -0.1× | least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zijin Gold International 2259.HK | Hong Kong | $46.6B | -19% | +106% | 54% | 15.7× | 17.3% | +43.4% |
| Anglogold Ashanti AU | United States | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% | +17.4% |
| Franco-Nevada FNV.TO | Canada | $49.6B | +16% | +72% | 75% | 31.5× | 17.7% | +13.3% |
| Wheaton Precious Metals WPM.TO | Canada | $62.3B | +7% | +89% | 73% | 29.9× | n/a | n/a |
| Barrick Mining ABX.TO | Canada | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% | +7.0% |
| Gold Fields Limited Sponsored ADR GFI | United States | $31.5B | -13% | +71% | 53% | 9.2× | -14.1% | +17.7% |
| Kinross Gold K.TO | Canada | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% | +11.8% |
| Northern Star Resources NST.AX | Australia | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% | +22.5% |
| Fresnillo FRES.L | United Kingdom | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% | +12.6% |
| Royal Gold RGLD | United States | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% | +15.6% |
| Agnico Eagle Mines AEM.TO | Canada | $98.4B | +6% | +41% | 59% | 16.9× | 8.4% | +31.6% |
| Zijin Mining 601899.SS | China | $109B | -15% | +16% | 30% | 9.6× | -10.2% | +15.3% |
| Evolution Mining EVN.AX | Australia | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% | +24.4% |
| Newmont NEM | United States | $126B | +4% | +23% | 55% | 12.7× | -8.9% | +14.1% |
| Pan American Silver PAAS.TO | Canada | $17.2B | -26% | +37% | 39% | 9.5× | 4.4% | +23.0% |
| Lundin Gold LUG.TO | Canada | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% | +39.0% |
| Shandong Gold Mining 600547.SS | China | $16.5B | -24% | +12% | 13% | 18.9× | -5.6% | +10.6% |
| Coeur Mining CDE | United States | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% | +21.6% |
| Zhongjin Gold 600489.SS | China | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% | +10.5% |
| 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% |