Core Viewpoint - The significant increase in gold prices has led to a substantial performance improvement for Sichuan Gold, as reflected in their recent half-year report for 2025. Financial Performance - In the first half of 2025, Sichuan Gold achieved an operating income of 442 million yuan, a year-on-year increase of 11.92% [1] - The net profit attributable to shareholders was 209 million yuan, representing a year-on-year growth of 48.41% [1] - The net profit after deducting non-recurring gains and losses was 214 million yuan, with a year-on-year increase of 52.45% [1] Industry Context - The gold industry exhibited high prosperity in the first half of 2025, with both international and domestic gold prices rising significantly [1] - As of June 30, 2025, the London spot gold price was $3,287.45 per ounce, up 24.31% from the beginning of the year, while the average price for the first half was $3,066.59 per ounce, a 39.21% increase year-on-year [1] - The closing price for Au99.99 gold on the Shanghai Gold Exchange was 764.43 yuan per gram, reflecting a 24.5% increase since the start of the year [1] Production and Sales - Despite the rise in gold prices, Sichuan Gold experienced a decline in the production and sales volume of gold concentrate due to the transition of the Suoluo Gold Mine to a residual mining phase, resulting in lower ore grades [1] - The gross profit margin for gold concentrate products was 65.07%, an increase of 12.02 percentage points year-on-year [2] Future Outlook and Investments - The company plans to increase the investment in the "Suoluo Gold Mine Green Mine Construction" project from 100 million yuan to 108 million yuan, while reducing the investment in the "Suoluo Gold Mine Intelligent Mine Construction" project from approximately 76.04 million yuan to 52.99 million yuan [2] - As of June 30, 2025, the cumulative investment in these two projects was approximately 29.29 million yuan and 10.62 million yuan, with investment progress at 42.77% and 20.48%, respectively [3] - Sichuan Gold announced plans to implement the east and west mining area development project at the Suoluo Gold Mine, with an estimated investment of 505 million yuan, aimed at ensuring stable and continuous production [3]
金价上涨四川黄金中期净利增48% 持续开拓资源IPO项目已投76.8%