SJI(SZ:000975) Chang Jiang Shang Bao·2025-10-27 02:02Core Viewpoint - The company, Shanjin International, has reported exceptional performance in 2025, driven by rising gold prices, achieving record high revenues and profits in the first three quarters of the year [1][2]. Financial Performance - In the first three quarters of 2025, Shanjin International achieved operating revenue of 14.996 billion yuan, a year-on-year increase of 24.23%, and a net profit attributable to shareholders of 2.46 billion yuan, up 42.39% [2]. - The company's gross profit margin for gold reached 80.51%, with significant contributions from silver, lead, and zinc sales [2]. - As of September 2025, the company's total assets grew to 20.294 billion yuan, with a low debt-to-asset ratio of 19.16% [1][3]. Production and Sales - Shanjin International's gold production for the first three quarters of 2025 was 5.59 tons, with sales of 5.98 tons [2]. - The company also reported silver production of 118.22 tons and lead and zinc production with respective gross margins of 53.50% and 39.46% [2]. Strategic Initiatives - The company is focused on resource acquisition and global expansion, having successfully integrated several mining assets and initiated overseas projects [4][5]. - In 2025, Shanjin International plans to produce no less than 8 tons of gold and maintain or exceed the production levels of other metals from 2024 [5][6]. Market Position and Stock Performance - Shanjin International's stock price reached a year-high of 25.89 yuan per share in October 2025, reflecting a year-to-date increase of approximately 45% [3]. - The company has initiated a share buyback program, with plans to allocate 100 million to 200 million yuan for this purpose [3].