Kings(603505) 证券时报网·2024-12-18 23:22Core Viewpoint - The company, Jinshi Resources, has demonstrated resilience in a volatile market, outperforming the broader market index while maintaining a strong focus on strategic resource management and shareholder returns [1][2]. Group 1: Company Overview - Jinshi Resources, established in 2001, specializes in the investment and development of strategic mineral resources, particularly fluorite, and is the largest player in China's fluorite industry in terms of resource reserves and production scale [2]. - The company has developed three main business segments: upstream mineral products, fluorochemical products, and new energy [2]. Group 2: Market Performance - Since the "9·24" policy change, the chemical products sector index has increased by 24.57%, while Jinshi Resources' stock has only risen by 6.54% during the same period [2]. - Despite a recent downturn in the chemical products sector, Jinshi Resources managed a slight increase of 0.63% from December 16 to 18, showcasing its anti-dip characteristics [2]. Group 3: Shareholder Returns - The company has increased its cash dividend payout ratio from approximately 30% to 51.75% for 2023, reflecting a commitment to enhancing shareholder returns [3]. - Over the past three years, the cumulative cash dividend ratio has approached 120%, leading the fluorochemical industry [4]. Group 4: Share Buyback Activity - Jinshi Resources has repurchased over 11.4 million shares since 2020, with a total buyback amount nearing 260 million yuan [4]. - The company completed a buyback plan within five months, demonstrating efficiency in returning value to shareholders [4]. Group 5: Strategic Development - The company is pursuing a "resource + technology" dual-driven strategy, focusing on both domestic and international resource development [5]. - As of mid-2024, Jinshi Resources holds approximately 27 million tons of fluorite reserves and has mining licenses for 1.12 million tons per year [5][6]. - The company is actively seeking quality investment and acquisition opportunities globally to enhance its market position and profitability [6].