Industry Overview - The Ministry of Industry and Information Technology and eight other departments issued the "Implementation Plan for High-Quality Development of the Gold Industry (2025-2027)", aiming to enhance resource security and innovation in the industry by 2027 [1] - China's gold production and consumption have positioned it as the largest in the world, with gold production expected to reach 377 tons in 2024 and consumption at 985 tons [2] - The People's Bank of China increased its gold reserves to 2296.4 tons as of May, marking a continuous increase for seven months [2] Production and Resource Management - The plan includes three main measures: promoting domestic resource exploration and production, encouraging comprehensive utilization of mineral resources, and enhancing secondary resource recovery [1] - By 2027, gold resource volume is projected to grow by 5% to 10%, with gold and silver production increasing by over 5% [1] Market Dynamics - Analysts predict gold prices could reach $4,000 per ounce next year, a 19% increase from current levels, driven by geopolitical tensions and U.S. fiscal policies [3] - The global demand for silver is expected to rise, particularly due to its dual role as a financial asset and industrial raw material, with significant applications in clean energy technologies [3][4] Company Insights - Zijin Mining (601899) is projected to have a compound annual growth rate (CAGR) of 12% in gold production from 2020 to 2024, with continued growth expected in copper and gold production [5] - Shandong Gold (600547) is anticipated to see net profits of 30.30 million, 50.83 million, and 59.38 million yuan from 2024 to 2026, supported by its rich resource base and ongoing projects [6] - China Silver Group (00815) reported a revenue of 4.319 billion yuan in 2024, a decrease of 20.97%, with a net profit of 996.6 million yuan, down 31.5% [6]
九部门推进国内黄金、白银增储上产 贵金属板块有望乘风而起(附概念股)
Zhi Tong Cai Jing·2025-06-23 23:46