Core Viewpoint - Macquarie's research report indicates that Zhaojin Mining is continuously expanding its gold mine portfolio and achieving organic growth through exploration [1] Group 1: Company Developments - Zhaojin Mining's key project, the Haiyu Gold Mine, is currently under construction and is expected to commence production between the end of 2027 and early 2028 [1] - The company is characterized as a low-cost pure gold enterprise, positioning it as a major beneficiary of rising gold prices [1] Group 2: Market Outlook - Macquarie holds a positive view on gold prices due to concerns over geopolitical conflicts, Sino-U.S. trade tensions, and the sustainability of U.S. government debt [1] Group 3: Financial Projections - Net profit forecasts for Zhaojin Mining have been raised by 10%, 74%, and 50% for the years 2025, 2026, and 2027, respectively, reaching 3.617 billion, 4.991 billion, and 4.293 billion yuan [1] - The target price for Zhaojin Mining is set at 42 HKD, maintaining an "outperform" rating [1]
大行评级丨麦格理：维持招金矿业“跑赢大市”评级 上调2025至27年净利润预测