SJI(SZ:000975) Chang Jiang Shang Bao·2025-06-23 00:48Core Viewpoint - The company, Shanjin International, is pursuing a strategy to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global presence and optimize its capital structure [2][3]. Group 1: Company Strategy and Developments - Shanjin International aims to deepen its global strategy and accelerate overseas business development through the issuance of H-shares [2][3]. - The company has completed the acquisition of Osino Resources, marking its first step in overseas strategic mergers and acquisitions, adding 127.2 tons of gold resources [3][4]. - The company emphasizes a "resource-first, global layout" approach, focusing on exploration and mergers to strengthen its resource barriers [1][3]. Group 2: Financial Performance - In 2024, Shanjin International achieved a record high revenue of 13.585 billion yuan, a 67.60% increase year-on-year, and a net profit of 2.173 billion yuan, up 52.57% [5]. - For Q1 2025, the company reported revenue of 4.321 billion yuan, a 55.84% increase year-on-year, and a net profit of 694 million yuan, a 37.91% increase, setting a new quarterly record [5][7]. - The company’s gold production for Q1 2025 was 1.77 tons, with a gross margin of 77.57%, reflecting a 9.59% year-on-year increase [5][7]. Group 3: Resource Expansion and Future Plans - Shanjin International plans to produce no less than 8 tons of gold in 2025, maintaining production levels for other metals compared to 2024 [7]. - The company has been actively expanding its resource base, with significant investments in exploration, totaling 176 million yuan in 2024, resulting in new resource additions [4][6]. - As of Q1 2025, the company’s total assets reached 19.054 billion yuan, with cash reserves of 3.167 billion yuan, providing a solid financial foundation for future investments [7]. Group 4: Market Performance - Shanjin International's stock price reached a peak of 23.19 yuan in April 2025, with a year-to-date increase of approximately 27%, resulting in a market capitalization of 53.174 billion yuan [8].