South Manganese Investment Limited logo

South Manganese Investment Limited

1091.HK

HKSEBasic MaterialsIndustrial Materials

Latest quote

HK$0.395

−HK$0.005 · -1.25%

Aug 24, 3:55 PM HKT

1091.HK company overview

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Company profile

Company website

South Manganese Investment Limited, an investment holding company, engages in the manganese mining, ore processing, and downstream processing operations in Mainland China, rest of Asia, Europe, and North America. It operates through four segments: Manganese Mining, EMM and Alloying Materials Production, Battery Materials Production, and Other Business. The Manganese Mining segment mines and produces manganese products, including manganese concentrates and natural discharging manganese powder and sand. The EMM and Alloying Materials Production segment mines and processes ores used in hydrometallurgical processing for/and production of electrolytic manganese metal and manganese briquette, and pyrometallurgical processing to produce silicomanganese alloy and ferromanganese. The Battery Materials Production segment manufactures and sells battery material products, such as electrolytic manganese dioxide, manganese sulfate, lithium manganese oxide, lithium nickel cobalt manganese oxide, and trimanganese tetraoxide. The Other Business segment trades in various commodities comprising manganese ores, EMM, manganese alloys, and non-manganese metals; sells scraps; and rents investment properties and leasehold land, as well as invests in companies engaged in the mining, production, and trading of non-manganese metals. The company also produces sulphuric acid and steam. The company was formerly known as CITIC Dameng Holdings Limited and changed its name to South Manganese Investment Limited in February 2021. South Manganese Investment Limited was incorporated in 2005 and is headquartered in Admiralty, Hong Kong.

Industry
Industrial Materials
Sector
Basic Materials
Headquarters
HK
CEO
Hai Qing Zhan
Listed since
Nov 18, 2010
Employees
5,449

Market position

Volume
3.05M
0.58× average
Average volume
5.28M
Average daily volume
Market cap
1.95B HKD
Beta
0.58
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
8.57×
P/B (TTM)
0.64×
P/S (TTM)
0.31×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
16.74%
Operating margin
6.31%
Net margin
2.62%

Financial health

Debt / equity
1.25×
Altman Z-score
2.15
Piotroski F-score
4 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends21%11%2%-8%Gross margin, FY2021: 18.23%Gross margin, FY2022: 8.56%Gross margin, FY2023: 5.45%Gross margin, FY2024: 3.08%Gross margin, FY2025: 16.74%Operating margin, FY2021: 11.58%Operating margin, FY2022: 3.65%Operating margin, FY2023: 0.17%Operating margin, FY2024: -2.52%Operating margin, FY2025: 6.31%Net margin, FY2021: 3.54%Net margin, FY2022: 2.10%Net margin, FY2023: 0.37%Net margin, FY2024: -5.49%Net margin, FY2025: 2.62%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 18.23%. Gross margin FY2022 8.56%. Gross margin FY2023 5.45%. Gross margin FY2024 3.08%. Gross margin FY2025 16.74%. Operating margin FY2021 11.58%. Operating margin FY2022 3.65%. Operating margin FY2023 0.17%. Operating margin FY2024 -2.52%. Operating margin FY2025 6.31%. Net margin FY2021 3.54%. Net margin FY2022 2.10%. Net margin FY2023 0.37%. Net margin FY2024 -5.49%. Net margin FY2025 2.62%.

Income trends

Revenue

6.37B HKD-51.79%

Operating income

401.99M HKD+734.69M HKD

Net income

167.07M HKD+892.14M HKD
Income trends across reported periods18.92B HKD11.78B HKD4.63B HKD−2.51B HKDRevenue, FY2021: 12.83B HKDRevenue, FY2022: 16.03B HKDRevenue, FY2023: 17.13B HKDRevenue, FY2024: 13.21B HKDRevenue, FY2025: 6.37B HKDOperating income, FY2021: 1.49B HKDOperating income, FY2022: 584.46M HKDOperating income, FY2023: 28.94M HKDOperating income, FY2024: −332.7M HKDOperating income, FY2025: 401.99M HKDNet income, FY2021: 454.58M HKDNet income, FY2022: 336.09M HKDNet income, FY2023: 64.14M HKDNet income, FY2024: −725.07M HKDNet income, FY2025: 167.07M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 12.83B HKD. Revenue FY2022 16.03B HKD. Revenue FY2023 17.13B HKD. Revenue FY2024 13.21B HKD. Revenue FY2025 6.37B HKD. Operating income FY2021 1.49B HKD. Operating income FY2022 584.46M HKD. Operating income FY2023 28.94M HKD. Operating income FY2024 −332.7M HKD. Operating income FY2025 401.99M HKD. Net income FY2021 454.58M HKD. Net income FY2022 336.09M HKD. Net income FY2023 64.14M HKD. Net income FY2024 −725.07M HKD. Net income FY2025 167.07M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue6.37B HKD13.21B HKD17.13B HKD16.03B HKD12.83B HKD
Cost of goods sold5.3B HKD12.8B HKD16.2B HKD14.66B HKD10.49B HKD
Gross profit1.07B HKD406.37M HKD934.15M HKD1.37B HKD2.34B HKD
Research and development50.8M HKD76.97M HKD116.8M HKD84.03M HKD72.27M HKD
Selling, general, and administrative613.62M HKD662.1M HKD788.41M HKD803.3M HKD850.23M HKD
Operating expenses664.42M HKD739.07M HKD905.2M HKD887.11M HKD922.5M HKD
Interest income2.08M HKD6.98M HKD23.7M HKD12.78M HKD6.31M HKD
Interest expense155.48M HKD119.98M HKD240.93M HKD219.49M HKD233.7M HKD
Depreciation and amortization380.77M HKD414.73M HKD453M HKD446.44M HKD549.28M HKD
Operating income401.99M HKD−332.7M HKD28.94M HKD584.46M HKD1.49B HKD
Net income167.07M HKD−725.07M HKD64.14M HKD336.09M HKD454.58M HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.16

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.170.05-0.08-0.2Q2 '21Q4 '21Q3 '22Q4 '22Q4 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 0.006, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 0.13, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 19, 2022: actual 0.132, estimate —, surprise —, Comparison unavailable. Q4 2022, reported Dec 31, 2022: actual -0.034, estimate —, surprise —, Comparison unavailable. Q4 2023, reported Nov 30, 2023: actual 0.039, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 19, 2024: actual -0.021, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 16, 2024: actual -0.047, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 14, 2025: actual -0.164, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates9.82B7.82B5.81B3.81BQ2 '21No estimateQ4 '21No estimateQ3 '22BeatQ4 '22No estimateQ4 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25No estimate
Q2 2021, reported Jun 30, 2021: actual 4.23B HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 8.6B HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 19, 2022: actual 9.01B HKD, estimate 4.37B HKD, surprise +106.32%, Beat. Q4 2022, reported Dec 31, 2022: actual 7.02B HKD, estimate —, surprise —, Comparison unavailable. Q4 2023, reported Nov 30, 2023: actual 7.73B HKD, estimate 4.37B HKD, surprise +77.09%, Beat. Q1 2024, reported Mar 19, 2024: actual 9.4B HKD, estimate 4.37B HKD, surprise +115.31%, Beat. Q3 2024, reported Aug 16, 2024: actual 5.73B HKD, estimate 4.37B HKD, surprise +31.30%, Beat. Q1 2025, reported Mar 14, 2025: actual 7.48B HKD, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.01

2019 complete year0.0% since 2012

Corporate action history

Dividend

Ex-dividend May 28, 2019

HK$0.01

Special

Record May 29, 2019 · Payment Jun 24, 2019

Dividend

Ex-dividend Jun 28, 2012

HK$0.01

Special

Record Jun 29, 2012 · Payment Jul 20, 2012

1091.HK peers

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Funds reporting this stock among their holdings, ordered by reported position size.

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