ZANGGE MINING(SZ:000408) Western Securities·2025-10-10 07:42Investment Rating - The investment rating for the company is "Buy" [4] Core Views - The report emphasizes the significance of the recent issuance of the "Mining License" and "Property Rights Certificate" by the Ministry of Natural Resources, which alleviates market concerns regarding the company's ability to continue lithium salt operations [1][4] - The company is positioned to benefit from its high-quality assets, favorable timing, and promising collaborations, particularly in copper, potassium chloride, and lithium carbonate sectors [2] - The report forecasts a substantial increase in net profit for the years 2025 to 2027, with expected figures of 34.39 billion, 49.06 billion, and 62.26 billion respectively, indicating a strong growth trajectory [2][3] Summary by Sections Company Overview - The company, Cangge Mining (000408.SZ), has received essential mining licenses that support its long-term development in potassium and lithium resources [1][4] Financial Projections - Revenue and net profit projections for 2025-2027 are as follows: - Revenue: 34.39 billion (2025), 49.06 billion (2026), 62.26 billion (2027) - Net Profit: 3.43 billion (2025), 4.91 billion (2026), 6.22 billion (2027) [3] - Earnings per share (EPS) are projected to be 2.19 (2025), 3.12 (2026), and 3.96 (2027) [3] Market Position - The company is strategically positioned in the market with significant assets in the Chaharhan Salt Lake and a stake in Jilong Copper, which are expected to enhance its competitive edge [2]