Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [6][13]. Core Insights - The company achieved a record high net profit of 847 million yuan in 2024, representing a year-on-year increase of 73%, despite a decrease in gold and antimony production due to production halts [3][4]. - The company plans to increase its production significantly in 2025, targeting 724.8 tons of gold and 39,500 tons of antimony, which would represent year-on-year increases of 56% and 35% respectively [4]. - The prices of gold and antimony are expected to continue rising, with gold prices increasing by 21% and antimony prices by 73% since the beginning of 2025, which will positively impact the company's performance [5]. Financial Performance - In 2024, the company reported total revenue of 27.839 billion yuan, a 19% increase from the previous year, and plans to reach 41.045 billion yuan in 2025, reflecting a growth rate of 47.44% [9][12]. - The projected net profit for 2025 is 2.101 billion yuan, which would be a 148% increase year-on-year, with earnings per share expected to rise to 1.75 yuan [6][9]. - The company's price-to-earnings ratio is projected to decrease from 36.21 in 2024 to 14.59 in 2025, indicating improved valuation as earnings grow [9][12].