GDMZH(SH:600382) Zheng Quan Shi Bao Wang·2025-10-09 13:15Core Viewpoint - Guangdong Mingzhu (600382) expects a significant increase in net profit for the first three quarters of 2025, projecting a growth of up to 10 times compared to the previous year, primarily driven by the performance of its wholly-owned subsidiary, Mingzhu Mining [1][2] Financial Performance - The company anticipates a net profit of between 215 million to 263 million yuan for the first three quarters of 2025, representing a year-on-year increase of 858.45% to 1071.44% [1] - The expected non-deducted net profit for the same period is projected to be between 215 million to 263 million yuan, with a year-on-year growth of 428.49% to 545.93% [1] Operational Highlights - Mingzhu Mining's expansion project has led to a significant increase in iron concentrate production and sales, with an estimated year-on-year sales increase of approximately 212.49% [1] - The completion of technical upgrades to the washing stone production line has improved production efficiency and product competitiveness, contributing to enhanced sales performance [2] Contribution to Profit - In the first half of the year, Mingzhu Mining contributed a net profit of 143 million yuan, reflecting a year-on-year increase of 104.91% [2] - The projected net profit for Mingzhu Mining for the current period is estimated to be between 244 million to 298 million yuan, indicating a year-on-year growth of 280.43% to 364.98% [1] Financial Adjustments - The company noted that non-operating gains and losses have impacted the financial results for the first three quarters, particularly due to the amortization of unrecognized financing income from a previous equity transfer [2] - The company expects to recognize a fair value change gain of 4.73 million yuan from stock investments, an increase of 11.93 million yuan compared to the previous year [2]