WinstonWınston
Back
Stock

Zhaojin Mining Industry Company Limited

ZHAOF
81
Gold · Basic Materials
Price
$2.55
+0.00 (+0.00%)
Market Cap
$9.03B
Exchange
Other OTC
Winston Score
81
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 22, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
Growth
Exceptional
Cash Flow
Exceptional
Stability
Strong
Valuation
Strong
Dividends
Good
Track this stock — start free trial

Share count rising — dilution

+7.3% over 4y

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

Diluted shares outstanding: 3.27B (2021) → 3.51B (2025)

§Winston Score History

The full picture

Zhaojin Mining Industry Company Limited is a major gold mining company based in Shandong Province, China. It explores, mines, processes, and sells gold, along with smaller amounts of silver and copper. The company is one of the largest gold producers in China, operating numerous mines primarily across several Chinese provinces.

Zhaojin makes money by selling refined gold and gold concentrates, with revenue tied directly to global gold prices. It is listed on the Hong Kong Stock Exchange and ranks among China's top gold miners by production volume. Its competitive position benefits from access to significant gold reserves in Shandong, one of China's richest gold-producing regions. The company's growth depends on expanding its reserve base and maintaining production efficiency, but it faces meaningful risk from gold price volatility and rising extraction costs as mines mature.

Growth Profile

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

Revenue Growth

+13.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+4.8% YoY

YoY Growth Rate

Slow 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

53.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

¥9.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Zhaojin Mining Industry Company Limited is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
48.2%
Healthy — 48.2% gross margin
Profit after running costs
Operating Margin
37.8%
Excellent — 37.8% operating margin
Return on the money invested
ROCE
15.2%
Strong — 15.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
+33.9%
Fast-growing sales (+33.9% YoY)
Profit growth
EPS YoY
+62.5%
Earnings growing fast (+62.5% YoY)

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

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
238%
Turns 238% of profit into real cash
Spare cash per sale
FCF Margin
28.3%
Converts sales into free cash efficiently (28.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
1.21
Elevated debt (1.21)
Covers its interest
Interest Cover
15.33x
Comfortably covers interest (15.3x)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
16.4x
Fair value — P/E 16.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+9.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (16.4 → 7.4)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
0.57%
Small dividend — 0.57% yield

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

Dividend record
Dividend Growth
+13.9%
Dividend growing fast (13.9% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial