Last $0.98 HKD
Change Today +0.01 / 1.03%
Volume 471.0K
893 On Other Exchanges
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china vanadium titano - magn (893) Snapshot

Open
$0.97
Previous Close
$0.97
Day High
$0.98
Day Low
$0.95
52 Week High
04/29/13 - $1.87
52 Week Low
03/12/14 - $0.83
Market Cap
2.0B
Average Volume 10 Days
2.9M
EPS TTM
$0.09
Shares Outstanding
2.1B
EX-Date
05/15/14
P/E TM
8.8x
Dividend
$0.02
Dividend Yield
--
Current Stock Chart for CHINA VANADIUM TITANO - MAGN (893)

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china vanadium titano - magn (893) Details

China Vanadium Titano-Magnetite Mining Company Limited, an investment holding company, engages in the mining, ore processing, iron pelletizing, and sale of iron concentrates, iron pellets, and titanium concentrates in the People’s Republic of China. It owns four vanadium-titano magnetite mines, including the Baicao, Xiushuihe, Yangqueqing, and Cizhuqing mines; and one ordinary iron ore mine, the Maoling-Yanglongshan mine located in Sichuan Province. It primarily serves steel producers and downstream users of titanium-related products. The company is headquartered in Chengdu, the People’s Republic of China.

2,018 Employees
Last Reported Date: 03/27/14

china vanadium titano - magn (893) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: CNY278.0K
Chairman and Chairman of Nomination Committee
Total Annual Compensation: CNY391.0K
Chief Financial Officer, Company Secretary an...
Total Annual Compensation: CNY1.2M
Compensation as of Fiscal Year 2013.

china vanadium titano - magn (893) Key Developments

China Vanadium Titano-Magnetite Mining Company Limited Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2013; Proposes Final Divided, Payable on or Before May 30, 2014

China Vanadium Titano-Magnetite Mining Company Limited reported audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported that revenue was RMB 1,429,875,000 compared to RMB 1,533,732,000 a year ago. Profit before tax wa RMB 266,176,000 compared to RMB 571,674,000 a year ago. Profit and total comprehensive income attributable to owners of the company was RMB 179,135,000 or RMB 0.09 per basic and diluted share compared to RMB 433,679,000 or RMB 0.21 per basic and diluted share a year ago. For the year the Group's revenue represents a decrease of 6.8% as compared to the previous year. Such decrease was primarily due to the significant decrease in sales volume of iron pellets and the decrease in the average selling prices of the Group's products, which was partially offset by the increase in the sales volume of vanadium-bearing iron concentrates and high-grade titanium concentrates. The revenue also included the sale of ordinary iron concentrates to an independent third party of approximately RMB 97.9 million for trading purpose since July 2013. Net cash flows from operating activities was RMB 15,522,000 compared to RMB 1,111,128,000 a year ago. The Group's net cash flows from operating activities decreased significantly by 98.6%. It primarily included the profit before tax of RMB 266.2 million, the increase in certain non-cash expense such as depreciation and amortisation of intangible assets, and the increase in trade and bills payables, which have been offset by the increase in trade and bills receivables and the increase in prepayment in respect of purchase of ordinary iron concentrates from an independent third party for trading purpose, which entitled the Group to a 5% discount on the purchase price as compared to the prevailing market price. The Group's net cash flows used in investing activities decreased significantly by 68.1%, from approximately RMB 922.4 million for the year ended 31 December 2012 to approximately RMB 293.8 million for the year ended 31 December 2013. It primarily included the purchase of items of property, plant and equipment and intangible assets of approximately RMB 204.7 million, which were partially offset by the total net proceeds from the disposal of items of property, plant and equipment and a prepaid land lease payment of the Old Iron Pelletising Plant of approximately RMB 26.7 million; the increase in pledged bank balance of approximately RMB 173.1 million for issuance of bills payable, which was partially offset by the decrease in time deposits with maturity of over three months of RMB 93.8 million and the payment for the acquisition of 30% equity interest in Yuechuan Mining of approximately RMB 34.9 million. The Group's total capital expenditure increased by RMB 42.2 million from approximately RMB 186.0 million for the year ended 31 December 2012 to approximately RMB 228.2 million for the year ended 31 December 2013. The capital expenditure consisted of the construction and improvement of tailing storage facilities to cope with expanded production capacity at the Xiushuihe Processing Plant and the Baicao Processing Plant aggregated to approximately RMB 88.7 million; the tunnel construction costs at the Maoling- Yanglongshan Mine of approximately RMB 19.6 million; the exploration and evaluation costs aggregated to approximately RMB 8.3 million for the Yangqueqing Mine, the Maoling- Yanglongshan Mine and the Xiushuihe Mine (including expansion area); payment in advance of RMB 34.9 million in respect of the acquisition of 30% equity interest in Yuechuan Mining; the development of the construction of miscellaneous projects and acquisition of machinery aggregated to approximately RMB 32.0 million; and the stripping costs classified as stripping activity assets of RMB 44.7 million that led to improved access to ore body as a result of adoption of IFRIC 20. At a meeting of the directors held on March 17, 2014, the directors proposed a final dividend of HKD 0.022 per share (equivalent to approximately RMB 0.017 per share) for the year ended December 31, 2013. The final dividend is payable to the shareholders whose names appear on the register of members of the company on May 21, 2014. Based on the number of issued shares as at December 31, 2013, this represents a total distribution of approximately HKD 45.7 million. The proposed final dividend for the year ended December 31, 2013 is subject to the approval of the shareholders at 2014 AGM to be held on May 12, 2014. It is expected that the proposed final dividend will be paid on or before May 30, 2014.

China Vanadium Titano-Magnetite Mining Company Limited Provides Earnings Guidance for First Half of 2014

China Vanadium Titano-Magnetite Mining Company Limited expected that the Exploration Work would be completed by May 2014. As the Exploration Work will now be terminated from 5 March 2014, the decrease in the production volume of the Group ' s vanadium-bearing iron concentrates as a result of the Exploration Work is expected to reduce from a maximum of 250,000 tonnes (as disclosed in the Announcement) to a maximum of 125,000 tonnes only. Notwithstanding the foregoing, the revenue and profits of the Group for the first half of 2014 are expected to be substantially reduced, as compared to those for the same period in 2013.

China Vanadium Titano-Magnetite Mining Company Limited to Report Fiscal Year 2013 Results on Mar 17, 2014

China Vanadium Titano-Magnetite Mining Company Limited announced that they will report fiscal year 2013 results on Mar 17, 2014

 

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893

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Valuation 893 Industry Range
Price/Earnings 8.8x
Price/Sales 1.1x
Price/Book 0.4x
Price/Cash Flow 8.8x
TEV/Sales NM Not Meaningful
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