ZHONGJIN GOLD(SH:600489) Chang Jiang Shang Bao·2025-07-24 23:44Core Viewpoint - A tragic incident occurred during a summer internship visit at a subsidiary of Zhongjin Gold Corporation, resulting in the death of six university students and raising significant market concerns [1][2]. Group 1: Incident Details - On July 23, six students from Northeast University fell into a flotation tank due to a grid plate falling off during a visit to the flotation process at the Inner Mongolia Mining Company, a subsidiary of Zhongjin Gold [1]. - The company expressed deep condolences for the victims and apologized for the social impact of the incident [2]. - Following the incident, Zhongjin Gold's stock dropped over 7% at the opening on July 24, closing down 4.41%, leading to a market value loss of nearly 3.4 billion yuan [1]. Group 2: Company Background and Financials - Zhongjin Gold primarily engages in the exploration, mining, smelting, and sales of gold and other non-ferrous metals, with an expected production of 18.35 tons of gold in 2024 [1]. - The company has shown consistent revenue and net profit growth from 2020 to 2024, with revenue increasing from 47.995 billion yuan to 65.556 billion yuan and net profit rising from 1.555 billion yuan to 3.386 billion yuan [8]. - In 2024, the Inner Mongolia Mining Company is projected to achieve a net profit of 2.28 billion yuan [9]. Group 3: Safety Measures and Investments - Zhongjin Gold has been increasing its research and development investments, with 730 million yuan allocated for 2024, and has consistently invested over 400 million yuan in safety production in recent years [1][7]. - Despite these investments, the company has faced criticism for not eliminating safety hazards, as evidenced by the recent incident [7]. - The company reported a decrease in safety production investment from 450.15 million yuan in 2023 to 417.87 million yuan in 2024, a decline of approximately 7.17% [7]. Group 4: Response and Future Actions - Following the incident, the Inner Mongolia Mining Company has suspended operations, and the local government, Northeast University, and China Gold Group are conducting follow-up actions [3][6]. - The company has initiated an emergency response plan and is cooperating with local authorities to address the situation [2]. - The incident has prompted a review of safety protocols, with three individuals from the company facing criminal measures due to negligence [5].