Group 1: Company Performance - In the first three quarters of 2025, the company achieved operating revenue of 14.996 billion, a year-on-year increase of 24.23% [1] - The net profit attributable to shareholders reached 2.460 billion, reflecting a year-on-year growth of 42.39% [1] - The net cash flow from operating activities was 3.692 billion, up 22.93% compared to the previous year [1] Group 2: Market Conditions - The precious metals market showed positive performance, significantly supporting the company's results [1] - Gold and silver prices have been on the rise, with London spot gold increasing by 47.01% and silver by 61.50% year-to-date [1] Group 3: Resource Expansion and Internationalization - The company is actively expanding its resource base, acquiring exploration rights for gold mines in Yunnan province, covering a total area of 55.98 square kilometers [2] - The company is progressing with its global strategy, including the acquisition of the Osino project in Namibia, which is expected to create new growth opportunities [2] - A formal application for H-share listing on the Hong Kong Stock Exchange was submitted in September 2025, aiming to diversify capital market access and enhance governance [2] Group 4: Shareholder Returns - The company announced a share repurchase plan with a total budget of 100 million to 200 million, having repurchased 1,834,929 shares for a total amount of 34.0925 million by the end of the reporting period [2]

Core Viewpoint - Shan Jin International's stock price has experienced fluctuations, with a year-to-date increase of 44.82% but a recent decline of 9.31% over the past five trading days [1] Company Overview - Shan Jin International is primarily engaged in precious and non-ferrous metal mining and trading, with its main products being gold and copper [1] - The company was established on June 18, 1999, and listed on June 8, 2000 [1] Financial Performance - For the period from January to September 2025, Shan Jin International reported a revenue of 14.996 billion yuan, representing a year-on-year growth of 24.23% [2] - The net profit attributable to shareholders for the same period was 2.460 billion yuan, showing a year-on-year increase of 42.39% [2] Shareholder Information - As of September 30, 2025, the number of shareholders increased by 18.50% to 43,700 [2] - The average number of circulating shares per shareholder decreased by 15.61% to 57,784 shares [2] Dividend Distribution - Shan Jin International has distributed a total of 5.982 billion yuan in dividends since its A-share listing, with 2.568 billion yuan distributed in the last three years [3] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 76.4162 million shares, an increase of 9.2006 million shares from the previous period [3] - The top ten circulating shareholders include various ETFs, with notable changes in holdings among them [3]

Core Viewpoint - The stock of Shanjin International (000975) has shown a decline in price and mixed capital flow, with significant institutional interest reflected in recent ratings and financial performance indicators [1][2][3]. Group 1: Stock Performance and Capital Flow - As of October 23, 2025, Shanjin International closed at 22.19 yuan, down 0.85%, with a turnover rate of 1.29% and a trading volume of 325,200 hands, amounting to a transaction value of 710 million yuan [1]. - On October 23, the net outflow of main funds was 103 million yuan, accounting for 14.46% of the total transaction value, while retail investors saw a net inflow of 65.88 million yuan, representing 9.28% of the total [1]. - Over the past five days, the stock has experienced fluctuations in capital flow, with varying net inflows and outflows from main funds, retail investors, and speculative funds [1]. Group 2: Financial Performance and Industry Comparison - For the third quarter of 2025, Shanjin International reported a main revenue of 14.996 billion yuan, a year-on-year increase of 24.23%, and a net profit attributable to shareholders of 2.46 billion yuan, up 42.39% year-on-year [2]. - The company’s financial metrics show a total market value of 61.615 billion yuan, a net asset of 16.405 billion yuan, and a net profit of 2.46 billion yuan, ranking third in the precious metals industry [2]. - The company has a price-to-earnings ratio of 18.79, significantly lower than the industry average of 53.21, indicating a strong valuation position [2]. Group 3: Institutional Ratings - In the last 90 days, 16 institutions have rated Shanjin International, with 13 buy ratings and 3 hold ratings, reflecting positive sentiment among analysts [3]. - The average target price set by institutions over the past 90 days is 22.2 yuan, indicating a stable outlook for the stock [3].

Core Viewpoint - Shanjin International (000975.SZ) reported strong financial performance for the first three quarters of 2025, with significant year-on-year growth in both revenue and net profit [1] Financial Performance - The company achieved operating revenue of 14.996 billion yuan, representing a year-on-year increase of 24.23% [1] - The net profit attributable to shareholders of the listed company was 2.46 billion yuan, reflecting a year-on-year growth of 42.39% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.446 billion yuan, which is a year-on-year increase of 36.96% [1]

Core Insights - Shan Jin International (000975.SZ) reported a revenue of 14.996 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 24.23% [1] - The net profit attributable to shareholders of the listed company reached 2.460 billion yuan, showing a year-on-year increase of 42.39% [1] Financial Performance - Revenue for the first three quarters: 14.996 billion yuan, up 24.23% year-on-year [1] - Net profit attributable to shareholders: 2.460 billion yuan, up 42.39% year-on-year [1]

Group 1 - The core viewpoint of the article highlights the strong financial performance of Shanjin International in the third quarter of 2025, with significant year-on-year growth in revenue and net profit [1] - Shanjin International reported a revenue of approximately 14.996 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 24.23% [1] - The net profit attributable to shareholders of the listed company was approximately 2.46 billion yuan, showing a year-on-year increase of 42.39% [1] - The basic earnings per share reached 0.886 yuan, which is a 42.42% increase compared to the previous year [1] Group 2 - As of the report date, Shanjin International has a market capitalization of 61.6 billion yuan [2]

Core Insights - The company, Shanjin International (000975.SZ), reported a significant increase in revenue and net profit for the third quarter of 2025, with revenue reaching 14.996 billion yuan, a year-on-year growth of 24.23%, and net profit attributable to shareholders amounting to 2.460 billion yuan, reflecting a 42.39% increase [1] Financial Performance - Year-to-date revenue stands at 14.996 billion yuan, marking a 24.23% increase compared to the previous year [1] - Net profit attributable to shareholders is reported at 2.460 billion yuan, showing a year-on-year growth of 42.39% [1] Strategic Developments - The company has acquired two new exploration rights, indicating a potential expansion in its operational capabilities [1] - Plans for share buybacks have been announced, which may enhance shareholder value [1]

【山金国际：前三季度净利润同比增长42.39%】智通财经10月23日电，山金国际(000975.SZ)发布2025 年第三季度报告，报告显示，公司年初至报告期末营业收入为149.96亿元，同比增长24.23%；归属于上 市公司股东的净利润为24.60亿元，同比增长42.39%。此外，公司还新增了两个探矿权，并计划回购部 分股份。 转自：智通财经 ...

证券代码：000975 证券简称：山金国际 公告编号：2025-052 山金国际黄金股份有限公司 第九届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 山金国际黄金股份有限公司（以下简称"公司"）第九届董事会第十七次会 议通知于2025年10月21日以电子邮件及专人递交的方式向全体董事送达，公司全 体董事以通讯方式进行了表决，公司于2025年10月23日（含当日）前收到全体董 事的表决结果。会议由公司董事长刘钦先生主持，应出席董事9人，实际出席董 事9人。 二〇二五年十月二十三日 一、以9票同意，0票反对，0票弃权，审议通过了关于公司《2025年第三季 度报告》的议案； 本议案已经审计委员会审议通过； 详见同日披露于巨潮资讯网的《2025年第三季度报告》。 二、以9票同意，0票反对，0票弃权，审议通过了关于公司成立地质勘查部 的议案。 地质勘查部核心职责为公司地质管理和找矿、矿山资源增储的规划和实施， 地质基础研究深化、重大地质技术难题攻坚、资源勘查推进、矿山地质技术支持 及管理监督等关键领域。通过探矿增储、技术升级等核心手段，筑牢 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥5,750,169,763.23, an increase of 3.30% year-over-year, while year-to-date revenue rose by 24.23% to ¥14,995,814,811.74[5] - Net profit attributable to shareholders for Q3 2025 was ¥863,835,602.76, reflecting a 32.43% increase compared to the same period last year, and a year-to-date increase of 42.39% to ¥2,459,568,680.49[5] - The basic earnings per share for Q3 2025 was ¥0.3113, up 32.52% year-over-year, with year-to-date earnings per share increasing by 42.42% to ¥0.8860[5] - Total operating revenue for the period reached ¥14,995,814,811.74, an increase of 24.0% compared to ¥12,071,290,485.67 in the previous period[23] - The company's net profit attributable to shareholders increased significantly, with retained earnings rising to ¥6,432,659,454.35 from ¥4,986,594,400.58, reflecting a growth of 29.0%[22] - The net profit for the current period is CNY 2,702,455,549.31, an increase of 40.7% compared to CNY 1,918,382,466.68 in the previous period[24] - The total profit for the current period is CNY 3,526,424,118.12, compared to CNY 2,491,832,701.09 in the previous period, reflecting a growth of 41.5%[24] - The operating profit for the current period is CNY 3,543,531,443.07, an increase from CNY 2,496,897,955.88, representing a growth of 42.0%[24] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥20,293,863,288.27, representing an 11.57% increase from the end of the previous year[5] - The total assets of the company reached ¥20,293,863,288.27, up from ¥18,189,088,468.89, representing a growth of 11.6%[22] - The total liabilities of the company were ¥3,888,607,496.79, compared to ¥3,377,246,212.03, reflecting an increase of 15.1%[22] - The company's equity attributable to shareholders rose to ¥14,424,119,492.97 from ¥12,980,993,275.54, an increase of 11.1%[22] Cash Flow and Investments - Cash and cash equivalents at the end of the period were ¥5,630,941,797.46, compared to ¥2,870,306,139.06 at the beginning of the period, indicating a substantial increase of 96.0%[20] - The net cash flow from operating activities is CNY 3,692,372,358.87, compared to CNY 3,003,742,997.72 in the previous period, indicating an increase of 22.9%[26] - The total cash inflow from investment activities is CNY 10,624,739,222.18, compared to CNY 7,930,275,961.05, indicating an increase of 34.5%[26] - The net cash flow from financing activities is CNY -1,358,607,260.75, worsening from CNY -59,935,209.22 in the previous period[27] Production and Sales - In Q3 2025, gold production was 1.87 tons, a decrease of 0.08 tons from Q2 2025, while silver production increased by 16.61 tons to 56.39 tons[10] - The company experienced a decline in zinc concentrate sales by 2,392.89 tons in Q3 2025 compared to Q2 2025, with sales totaling 5,100.38 tons[10] - The company reported a gross margin of 80.51% for gold products, 53.50% for silver, 51.09% for lead concentrate, and 39.46% for zinc concentrate[9] Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period was 43,739, with the largest shareholder holding 28.89% of the shares[12] - The company appointed a new non-independent director and an independent director to improve its governance structure[18] - The company has canceled its supervisory board to streamline management processes, transferring relevant powers to the audit committee of the board[19] Strategic Initiatives - The company acquired a 52.0709% stake in Yunnan Western Mining Co., which holds exploration rights for gold in a 35.6 square kilometer area[15] - The company plans to repurchase shares with a total fund of no less than RMB 100 million and no more than RMB 200 million, with a maximum repurchase price of RMB 29.70 per share[15] - As of September 30, 2025, the company repurchased 1,834,929 shares, accounting for 0.07% of the total share capital, with a total transaction amount of RMB 34,092,534.43[16] - The company initiated the process to issue H shares and list them on the Hong Kong Stock Exchange, aiming to enhance its global strategy and optimize capital structure[17] - The company has submitted the application for H share issuance to the Hong Kong Stock Exchange, pending approval from regulatory authorities[17] Research and Development - Research and development expenses increased to ¥127,914,627.41, up from ¥93,589,873.89, marking a rise of 36.6%[23]