Stock

Shandong Gold Mining Co.

600547.SS

Gold · Basic Materials

Price

¥31.45

-0.78 (-2.42%)

Market Cap

¥144.99B

Exchange

Shanghai Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Sep 22, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Strong

Stability

Good

Valuation

Mixed

Dividends

Good

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Share count rising — dilution

+18.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 4.47B (2021) → 5.31B (2025)

§Winston Score History

The full picture

Shandong Gold Mining is one of China's largest gold producers. The company mines, processes, and sells gold, along with smaller amounts of silver and copper. It operates primarily in Shandong Province, one of China's richest gold-producing regions, and has expanded to mines in other Chinese provinces and overseas.

The company makes money by selling refined gold and gold concentrates, with prices tied to global gold markets. It is listed on the Shanghai Stock Exchange and has a market capitalization around ¥145 billion, making it one of the biggest gold miners in Asia. Shandong Gold benefits from access to high-quality domestic reserves and strong government relationships as a state-linked enterprise. Its key growth driver is expanding production through new mine development and acquisitions, but the business faces risk from fluctuating gold prices and rising extraction costs as existing mines mature.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-31.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+15.0% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

¥0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

65.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

¥27.9B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

¥27.9B cash & investments at current burn rate

Revenue declining

Shandong Gold Mining Co.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

33.9%

Modest — 33.9% gross margin

Profit after running costs

Operating Margin

21.6%

Excellent — 21.6% operating margin

Return on the money invested

ROCE

12.4%

Good — 12.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+8.1%

Steady sales growth (+8.1% YoY)

Profit growth

EPS YoY

+29.3%

Earnings growing fast (+29.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

344%

Turns 344% of profit into real cash

Spare cash per sale

FCF Margin

5.7%

Thin free cash flow (5.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

2.73

Heavy debt load (2.73)

Covers its interest

Interest Cover

8.28x

Comfortably covers interest (8.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

26.4x

Growth-priced — P/E 26.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

-3.3

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.32%

Small dividend — 0.32% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+77.3%

Dividend growing fast (77.3% YoY)

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