Zijin Mining(601899) 2 1 Shi Ji Jing Ji Bao Dao·2025-05-21 12:22Core Viewpoint - Two major shareholders of Sichuan Gold (001337.SZ) plan to reduce their holdings by a total of up to 5.5% due to personal funding needs, without causing a change in company control [1] Shareholder Reduction Plans - Beijing Jinyang Mining Investment Co., Ltd. intends to reduce its stake by up to 2.50%, while Zijin Mining Group Southern Investment Co., Ltd. plans to reduce its stake by up to 3.00% [1] - The total estimated reduction amount is approximately 5.87 billion yuan based on the current market price of 25.40 yuan per share [1] Shareholder Holdings - Before the planned reductions, Jinyang Mining held 48.546 million shares (11.56% of total shares), and Zijin Southern held 36.044 million shares (8.58% of total shares) [1] Market Performance - Sichuan Gold's stock price has experienced volatility, reaching a high of 27 yuan after last year's National Day, dropping to 19.80 yuan in April, and currently standing at 25.40 yuan [5] - The company's price-to-earnings ratio is 6.85, and its price-to-book ratio is 39.91, indicating that its valuation is relatively high compared to peers in the gold industry [5] Previous Reduction by Zijin Southern - Zijin Southern previously reduced its holdings by 154.01 million shares (0.37% of total shares) at an average price of 22.96 yuan per share between October 31, 2024, and January 30, 2025 [4] Industry Outlook - The company benefits from rising gold prices, which positively impact its sales performance [7] - The expectation of continued upward movement in gold prices is supported by geopolitical instability and anticipated interest rate cuts by the Federal Reserve [7] - Recent reports suggest that the valuation of gold stocks is entering a phase of accelerated recovery due to increasing gold prices and capital allocation [8]