SD-GOLD(SH:600547) Hua Er Jie Jian Wen·2025-04-14 09:31Core Viewpoint - Shandong Gold expects strong business growth in Q1 2025, with net profit projected to be between 9.50 billion to 11.30 billion yuan, representing a year-on-year increase of 35% to 61% due to internal operational optimization and rising gold prices [1][3] Financial Performance - For Q1 2025, net profit is expected to be between 9.50 billion to 11.30 billion yuan, an increase of 2.50 billion to 4.30 billion yuan compared to the same period last year, reflecting a growth of 35.74% to 61.45% [1] - The non-GAAP net profit is projected to be between 9.51 billion to 11.31 billion yuan, with a year-on-year increase of 34.05% to 59.41% [1] - In 2024, the company achieved a revenue of 82.52 billion yuan, a year-on-year increase of 39.21% [6] - The net profit attributable to shareholders was 29.52 billion yuan, up 26.80% year-on-year [6] - Operating cash flow net amount reached 13.34 billion yuan, a significant increase of 94.78% compared to the previous year [6] Operational Efficiency - The increase in profit is attributed to optimized production layout, enhanced core technology, and improved management efficiency, which collectively boosted operational effectiveness [3] - The company reported a gold production of 46.17 tons in 2024, a growth of 10.51% year-on-year, with all 12 mines producing over 1 ton of gold annually [4] Resource Expansion - Shandong Gold's gold resource reserves reached 2058.46 tons by the end of 2024, with an increase in the proportion of overseas gold production to 10.91% [4] - The company is actively expanding its resource reserves through projects like the Namutini Gold Mine, which has entered the trial production phase, and acquisitions such as the exploration rights for the Xiling Gold Mine [5]