证券代码：603505 证券简称：金石资源 公告编号：2024-056 金石资源集团股份有限公司 关于子公司金昌矿业临时停产的公告 3.根据公司与矿山承包方签订的合同，矿山开采中的安全事故的赔偿责任等 由承包方承担，最终以政府应急管理部门的事故责任认定为准。 三、风险提示 公司对金昌矿业发生事故深感痛心，对事故罹难的项目部工友表示沉痛哀悼， 对广大投资者深表歉意！ 矿山开采属于危险性较高的行业，敬请广大投资者注意投资风险！公司将根 据本次事故调查处理进展情况及时履行信息披露义务。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、基本情况 2024 年 10 月 31 日 10 时 55 分许，金石资源集团股份有限公司(以下简称"公 司")子公司浙江兰溪市金昌矿业有限公司（以下简称"金昌矿业"）外包采掘 施工单位浙江中巷建工集团有限公司（以下简称"项目部"）在兰溪市柏社乡岭 坑山矿区-10m 中段 2#采场发生一起冒顶事故，致一人受伤，后经抢救无效死亡。 事故发生后，公司和项目部立即向兰溪市应急管理局进行了报告，积极配合 当 ...

Investment Rating - The report gives an "Accumulate" rating for the company, indicating a positive outlook for future performance [5]. Core Viewpoints - Jinshi Resources is the largest specialized mining company in China's fluorite industry, with significant resource reserves and production capabilities. The company has expanded its business into downstream fluorochemical and lithium-containing materials sectors, leveraging technology for resource utilization [1][11]. - The company reported a total revenue of 1.119 billion yuan in the first half of 2024, a year-on-year increase of 100.2%, and a net profit of 176 million yuan, up 33.03% year-on-year [1]. - The company is positioned to benefit from the rising prices of fluorite and an expanding market for fluorochemical products, driven by its innovative low-grade fluorite processing technology [4][25]. Summary by Sections Company Overview - Jinshi Resources has developed into a leading player in the fluorite industry since its establishment in 2001, focusing on fluorite mining and sales. The company went public in 2017 and has since expanded into fluorochemical and lithium material sectors [11][12]. Business Development - The company is advancing into the second phase of fluorite development by utilizing low-grade fluorite resources, particularly through the Baiyun Obo project, which has a resource potential of 130 million tons [2][3]. - The company has established a flexible production line for aluminum fluoride, with an annual capacity of 300,000 tons, enhancing its operational efficiency [2][20]. Financial Performance - For the first three quarters of 2024, the company reported total revenue of 1.83 billion yuan, a year-on-year increase of 58.5%, while net profit was 266 million yuan, a slight decrease of 1.7% [25][27]. - The gross profit margin for self-produced fluorite concentrate was 51.9%, an increase of 4.6 percentage points compared to 2023, reflecting improved pricing dynamics in the market [28][29]. Future Outlook - The company aims to double its fluorite production capacity in Mongolia within 3-5 years, targeting an annual output of 500,000 tons [3][21]. - The projected net profits for 2024-2026 are estimated at 386 million, 598 million, and 876 million yuan, respectively, with significant growth rates anticipated [4].

证券研究报告 | 公司动态点评 2024 年 10 月 29 日 金石资源（603505.SH） 萤石产销量下滑拖累短期业绩，看好包头"选化一体"项目逐步放 量 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------|-------------------------------------------|-----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 1,050 | 1,896 | 2,934 | 4,012 | 4,925 | 股票信息 | | | 增长率 yoy （ % ） | 0.7 | 80.5 | 54.8 | 36.7 | 22.8 | | | | 归母净利润（百万元） | 222 | 349 | 462 | 704 | 895 | 行业 | 基础化工 | ...

Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market [5]. Core Views - The company's Q3 2024 performance met expectations, with a revenue of 1.83 billion yuan, a year-on-year increase of 59%, and a net profit of 250 million yuan, reflecting a 2% year-on-year growth [5]. - The report highlights a decline in single mine sales during the safety rectification period, but anticipates a recovery in Q4 with potential increases in both volume and price [5]. - The company is gradually ramping up its by-product projects, with successful trials in sulfuric acid and aluminum fluoride, which are expected to enhance profitability [5]. - The construction of a pre-treatment plant in Mongolia has been completed, marking a strategic move to integrate scarce resources [5]. - The report projects a decrease in net profit forecast for 2024 to 383 million yuan, while maintaining forecasts for 2025 and 2026 at 646 million yuan and 864 million yuan respectively [5][6]. Summary by Sections Market Data - Closing price: 26.47 yuan - One-year high/low: 36.08/20.70 yuan - Market capitalization: 16,008 million yuan [2]. Financial Data - Net asset per share: 2.74 yuan - Debt-to-asset ratio: 65.95% [3]. Price and Performance - The company's stock price has shown a significant variance compared to the market index over the past year [4]. Revenue and Profit Forecast - Total revenue for 2024 is projected at 2.80 billion yuan, with a year-on-year growth rate of 47.9% [6]. - The gross margin is expected to improve to 29.8% in 2024, with a return on equity (ROE) of 19% [6].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [4] Core Views - The company has seen a reduction in single-type fluorite volume but an increase in price, indicating a positive outlook for fluorite market conditions [4][6] - In the first three quarters of 2024, the company achieved revenue of 1.83 billion yuan, a year-on-year increase of 58.50%, and a net profit attributable to shareholders of 250 million yuan, a year-on-year increase of 1.70% [2][6] - The company is expected to maintain a leading position in fluorite production in China, with a favorable market outlook for the fourth quarter [6] Financial Performance Summary - For Q3 2024, the company reported revenue of 711 million yuan, a year-on-year increase of 19.39%, but a net profit of approximately 82.76 million yuan, which represents a year-on-year decrease of 30.88% and a quarter-on-quarter decrease of 22.71% [2][6] - The company’s single-type fluorite sales volume decreased to approximately 280,000 tons, down from 360,000 tons in the same period last year, while the average market price for fluorite increased by 10.1% year-on-year [6] - The company’s investment income for the first three quarters was approximately 72.43 million yuan, a year-on-year increase of 502.09% [6] Future Outlook - The company anticipates that the "selection and chemical integration" project will yield overall profitability, with production and sales of AHF reaching 85,000 tons and 82,500 tons respectively in the first three quarters of 2024 [6] - The company expects to maintain high fluorite prices in the short term, with a positive trend in market conditions [6] - Forecasted net profits for 2024-2026 are 351 million yuan, 654 million yuan, and 745 million yuan respectively, with year-on-year growth rates of 0.48%, 86.63%, and 13.88% [6][7]

Investment Rating - The report maintains a "Buy" rating for the company [4][2] Core Views - The company reported a revenue of 1.83 billion yuan for the first three quarters of 2024, a year-on-year increase of 58.5%, while the net profit attributable to shareholders was 250 million yuan, up 1.7% year-on-year [1] - The report anticipates a significant increase in both volume and price for the company's products in the fourth quarter, driven by a recovery in fluorite prices and a tightening supply due to safety inspections in the mining sector [2][4] - The forecast for net profit attributable to shareholders for 2024-2026 is adjusted to 395 million, 694 million, and 969 million yuan, respectively, corresponding to P/E ratios of 40.1, 22.9, and 16.4 times [2][3] Financial Summary - Revenue for 2022 was 1.043 billion yuan, with a growth rate of 18.6% year-on-year, while the net profit was 245 million yuan, reflecting a growth rate of 2.9% [3][10] - The projected revenue for 2024 is 2.967 billion yuan, with an expected growth rate of 182.6%, and the net profit is forecasted to be 395 million yuan, representing a year-on-year growth of 77.8% [3][11] - The company's earnings per share (EPS) for 2024 is estimated at 0.65 yuan, with a projected return on equity (ROE) of 22.6% [3][11]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved record high revenue and net profit for the first three quarters of 2024, with revenue reaching 1.83 billion yuan, a year-on-year increase of 58.5%, and net profit attributable to shareholders of 250 million yuan, a year-on-year increase of 1.7% [2][3] - The company expects a significant increase in fluorite prices in Q4, which is anticipated to enhance profitability [3] - A mid-term dividend of 1.00 yuan per 10 shares is planned, representing 23.96% of the net profit attributable to shareholders for the first three quarters of 2024 [3] Financial Performance Summary - For Q3 2024, the company reported revenue of 711 million yuan, a year-on-year increase of 19.39%, but a net profit decline of 30.88% [2] - The company’s revenue and profit forecasts for 2024-2026 are 470 million yuan, 742 million yuan, and 913 million yuan for net profit, with corresponding EPS of 0.78 yuan, 1.22 yuan, and 1.51 yuan [2][5] - The current stock price corresponds to a PE ratio of 33.8, 21.6, and 17.4 for the years 2024, 2025, and 2026 respectively [2][5] Project Progress and Market Outlook - The company has successfully produced and sold approximately 280,000 tons of fluorite from its single fluorite mine and 400,000 tons from the Baotou project [3] - Q4 production plans include 120,000 tons of fluorite and 50,000 tons of anhydrous hydrofluoric acid, with expectations for a significant price increase for acid-grade fluorite [3] - The company is also progressing with its projects in Mongolia while managing mining operations [3]

Financial Performance - The company's operating revenue for Q3 2024 was approximately ¥711.22 million, representing a year-on-year increase of 19.39% and a cumulative increase of 58.50% year-to-date[2]. - The net profit attributable to shareholders for Q3 2024 was approximately ¥82.76 million, a decrease of 30.88% compared to the same period last year, while the year-to-date net profit increased by 1.70% to ¥250.36 million[2]. - The basic earnings per share for Q3 2024 was ¥0.14, reflecting a decrease of 30.00% compared to the same period last year[2]. - Total revenue for the first three quarters of 2024 reached CNY 1,829,996,982.63, a significant increase of 58.5% compared to CNY 1,154,558,155.82 in the same period of 2023[21]. - Net profit for the first three quarters of 2024 was CNY 266,109,856.22, slightly down from CNY 270,751,073.19 in 2023, representing a decrease of 1.2%[22]. - The total comprehensive income for Q3 2024 was approximately ¥266.12 million, compared to ¥270.75 million in Q3 2023, indicating a decrease of 1.17%[23]. Assets and Liabilities - Total assets at the end of Q3 2024 reached approximately ¥6.53 billion, marking a 30.28% increase from the end of the previous year[3]. - Non-current assets totaled CNY 3,919,219,706.64, an increase from CNY 3,397,157,488.53 in the previous year, reflecting a growth of 15.3%[20]. - Current liabilities increased to CNY 3,177,077,289.27 from CNY 1,796,912,749.55, showing a rise of 76.5%[20]. - The company’s total current assets increased to approximately RMB 2.61 billion from RMB 1.62 billion, reflecting overall growth in asset base[19]. Cash Flow - The net cash flow from operating activities for the year-to-date period was approximately ¥370.38 million, an increase of 81.75% year-on-year[2]. - Cash flow from operating activities for the first three quarters of 2024 was approximately ¥1.61 billion, significantly higher than ¥1.03 billion in the same period of 2023, marking an increase of 56.5%[24]. - Cash flow from investing activities for the first three quarters of 2024 showed a net outflow of approximately ¥746.85 million, an improvement from a net outflow of ¥1.08 billion in the same period of 2023[25]. - Cash flow from financing activities for the first three quarters of 2024 was a net inflow of approximately ¥552.99 million, down from ¥948.36 million in the same period of 2023, a decrease of 41.7%[25]. Production and Sales - As of September 30, 2024, the company produced approximately 280,000 tons of fluorite products and sold about 250,000 tons, showing a decline compared to the same period last year due to the suspension of operations at Changshan Jingshi and minor upgrades at some owned mines[18]. - The company expects to produce 120,000 tons of fluorite and 50,000 tons of anhydrous hydrofluoric acid in Q4 2024, with a significant increase in the price of acid-grade fluorite expected compared to Q3 2024[18]. - The increase in operating revenue was largely driven by the production launch of the "Xuanhua Integration" project and increased sales of anhydrous hydrofluoric acid and fluorite powder[6]. Investments and Strategic Initiatives - The company’s long-term equity investments rose to approximately RMB 328.53 million from RMB 189.30 million, suggesting a strategic focus on long-term growth[19]. - The company is currently constructing a pre-treatment plant in Mongolia, which has begun commissioning, indicating ongoing expansion efforts[18]. - The company plans to continue expanding its market presence and enhancing production efficiency through technology upgrades and strategic projects[8]. Employee Compensation and Expenses - The company paid approximately ¥199.42 million in employee compensation during the first three quarters of 2024, compared to ¥109.71 million in the same period of 2023, an increase of 81.8%[24]. - Research and development expenses for the first three quarters of 2024 were CNY 54,139,310.36, up from CNY 36,197,155.33 in 2023, indicating a growth of 49.7%[22].

证券代码：603505 证券简称：金石资源 公告编号：2024-055 金石资源集团股份有限公司 2024 年前三季度利润分配方案公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 二、公司履行的决策程序 重要内容提示： 一、利润分配方案内容 根据公司 2024 年前三季度财务报表（未经审计），公司 2024 年 1-9 月合 并报表归属于母公司股东的净利润 250,360,354.44 元；截至 2024 年 9 月 30 日， 公司合并财务报表中期末可供分配利润为 1,034,881,446.25 元，公司母公司报 表中期末可供分配利润为 452,546,387.01 元。 根据《公司法》《上市公司监管指引第 3 号——上市公司现金分红（2023 年 修订）》《上市公司章程指引（2023 年修订）》等相关法律、法规、规范性文 件及《公司章程》的规定，《公司未来三年（2023 年-2025 年）股东分红回报规 划》《公司 2024 年度"提质增效重回报"行动方案》的有关要求，为维护公司 价值及股东权益，进一步加大投资者回报 ...

证券代码：603505 证券简称：金石资源 公告编号：2024-053 本次会议审议通过了如下议案： 1.审议通过了《关于公司 2024 年第三季度报告的议案》； 表决结果：8 票同意，0 票反对，0 票弃权。 本议案已经公司第四届董事会审计委员会第十四次会议审议通过，并同意提 交本次董事会审议。 金石资源集团股份有限公司（以下简称"公司"）第四届董事会第二十九次 会议于 2024 年 10 月 23 日以直接送达、电子邮件等方式向全体董事发出会议通 知，会议于 2024 年 10 月 28 日在公司总部会议室以现场结合通讯方式召开。会 议应出席的董事8人，实际出席的董事8人。本次会议由董事长王锦华先生主持， 公司监事和高级管理人员列席了会议。本次会议的召集、召开符合《公司法》和 《公司章程》的规定。 二、董事会会议审议情况 第四届董事会第二十九次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 金石资源集团股份有限公司 具体内容详见同日公司在上海证券交易所网站（http://www.sse ...