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State-owned Chinese gold miner, one of the country's largest, with mines domestically and overseas.
State-owned Chinese gold miner, one of the country's largest, with mines domestically and overseas.
Sells gold at world-market prices, so earnings follow the gold price and the ounces sold, including gold refined from bought-in material as well as from its own mines. The Shandong provincial government controls it through the parent group. Overseas, it jointly holds Argentina's Veladero mine with Barrick.
In one line: China's Newmont/Barrick.
Moat: narrow (scale, installed base). Large domestic reserve base and state-backed access to mining licences and overseas assets.
Headquarters: Jinan, China · Founded: 2000 · Employees: 29,282
Size Shandong Gold Mining (600547.SS) is a China Materials company (Precious Metals) with a market value of $16.5B, the 138th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥26.20 on 6 Nov 2026.
Performance Over six months the shares fell 23.8%, against -7.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th 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 18.9× forward earnings against a peer median of 11.6× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥111B | CN¥104B | CN¥82.5B | CN¥59.3B | CN¥50.3B |
| Revenue growth | — | +26% | +39% | +18% | — |
| Gross profit | CN¥27.9B | CN¥20.8B | CN¥13.2B | CN¥9.53B | CN¥6.87B |
| EBITDA | n/a | CN¥21.4B | CN¥13.5B | CN¥9.52B | CN¥6.51B |
| Net income | CN¥3.96B | CN¥4.74B | CN¥2.95B | CN¥2.33B | CN¥1.25B |
| Free cash flow | CN¥2.29B | CN¥8.62B | -CN¥6.67B | -CN¥2.20B | -CN¥1.24B |
| Capital expenditure | CN¥13.4B | CN¥12.9B | CN¥20.1B | CN¥9.18B | CN¥4.21B |
| Total debt | CN¥88.9B | CN¥87.7B | CN¥79.4B | CN¥67.4B | CN¥37.2B |
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 600547.SS | $16.5B | -24% | +12% | 13% | 18.9× | -5.6% |
| Zhongjin Gold 600489.SS | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% |
| Zijin Mining 601899.SS | $109B | -15% | +16% | 30% | 9.6× | -10.2% |
| Chifeng Jilong Gold Mining 600988.SS | $11.6B | -2% | +23% | 43% | 17.4× | -5.7% |
| 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 | 600547.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.9% | -1.1% | 11th highest of 21 |
| 6-month return | -23.8% | -7.6% | 4th lowest of 21 |
| Distance from 52-week high | -60.0% | -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 | 18.9× | 11.6× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -5.6% | 4.8% | 7th least demanding of 19 |
| Growth delivered (Del g) | +10.6% | +18.4% | 3rd lowest of 19 |
| Hurdle (Req g minus delivered) | -16.1 pp | -16.0 pp | 10th least demanding of 19 |
| ROIC minus cost of capital | +5.7 pp | +13.0 pp | 6th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shandong Gold Mining 600547.SS | China | $16.5B | -24% | +12% | 13% | 18.9× | -5.6% | +10.6% |
| 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% |