河南日报客户端记者 赵力文 通讯员 蔺佳 8月26日，灵宝金源矿业股份有限公司第六期"黄金大讲堂"顺利举办。本次培训聚焦"财务报表实战解读 与成本管控"主题，特邀中翰税务集团合伙人、国际注册会计师王占伟及其专家团队现场授课，来自国 资公司、金源公司及黄金投资公司的200余名管理人员和财务骨干参与学习。 "财务报表是企业经营的'作战地图'。"作为财税法领域资深专家，王占伟以生动比喻切入，系统阐释资 产负债表、利润表、现金流量表三大报表的内在联系与逻辑结构。他形象指出，资产负债表是企业 的"底子"，反映财务状况；利润表是"面子"，体现经营成果；现金流量表是"日子"，展示资金动向，三 者有机结合，全面真实反映企业运营状况，为战略决策提供关键依据。 课程结合大量一线实战案例，从业务关联、计入方式、经营环节三大维度深入剖析成本结构，帮助学员 识别"增效潜力"，掌握作业成本法、标准成本法等先进管理工具，助力提升企业精准决策与成本管控能 力。"财务数据并非孤立数字，而是业务活动的真实投射。"王占伟强调，唯有读懂数据背后的业务逻 辑，才能真正实现降本增效。 授课中，王占伟融入跨领域智慧与人文思考，倡导"专业与生活并重"的成长 ...

Core Viewpoint - Sichuan Gold reported a significant increase in net profit and revenue for the first half of 2025, primarily driven by rising gold prices, despite a decrease in the production and sales of gold concentrate [1] Financial Performance - The company achieved an operating revenue of 442 million yuan, representing a year-on-year growth of 11.92% [1] - The net profit attributable to shareholders reached 209 million yuan, marking a year-on-year increase of 48.41% [1] - Basic earnings per share were reported at 0.4967 yuan [1] Production and Sales - The production and sales volume of gold concentrate decreased year-on-year [1] - The decline in production was attributed to the Sologou gold mine entering a residual mining phase, resulting in a lower grade of ore [1] - Consequently, the year-on-year growth rate of operating revenue was lower than the increase in gold prices [1]

Core Viewpoint - Macquarie's report indicates that Zhaojin Mining (01818) benefits from strong gold prices, with core earnings reaching approximately 1.4 billion RMB [1] Group 1: Company Performance - The company is expected to achieve a production capacity increase of 2 to 3 tons in 2026 and 2027 [1] - Macquarie is optimistic about the company's low-cost advantage and potential for production growth [1] Group 2: Financial Projections - The target price for Zhaojin Mining has been raised from 25 HKD to 26 HKD [1] - Earnings per share estimates for 2025 and 2026 have been increased by 5%, 0.8%, and 0.8% respectively [1]

Core Viewpoint - Macquarie's report indicates that Zhaojin Mining benefited from strong gold prices, achieving a core profit of approximately 1.4 billion yuan in the first half of the year, with expectations of a capacity increase of 2 to 3 tons in 2026 and 2027 [1] Group 1 - The company is expected to leverage its low-cost advantage and production growth potential [1] - Macquarie maintains an "outperform" rating for the company, raising the target price from 25 HKD to 26 HKD [1] - Earnings per share estimates for 2025 and 2026 have been increased by 5%, 0.8%, and 0.8% respectively [1]

消息面上，8月24日晚间，招金矿业发布2025年中报。财报显示，上半年招金矿业实现收入69.73亿元， 同比劲增50.69%；归母净利润同比大增160.44%至14.4亿元。据中报披露，上半年公司瑞海项目加快基 建步伐，1.2万吨/日选矿系统一次性带水试车成功，初具工业化生产能力，这也意味着海域金矿的投产 预期进一步强化。 此外，近期金价迎多重催化。美联储主席鲍威尔在杰克逊霍尔上的演讲中暗示高借贷成本带来的日益增 长的风险可能会对就业市场产生不利影响，这意味着美联储最早在9月份就可能有理由降息。此外，特 朗普宣布解雇美联储理事库克，引发对联储独立性的担忧。华泰证券研报指出，如果联储降息落地，有 望驱动美实际利率下行，对黄金是利好。中长期来看，该行认为黄金的上涨趋势或持续，且公司在建项 目持续推进，维持"买入"评级。 招金矿业(01818)涨超6%，盘中高见23.06港元创新高。截至发稿，涨6%，报22.98港元，成交额3.42亿 港元。 ...

此外，近期金价迎多重催化。美联储主席鲍威尔在杰克逊霍尔上的演讲中暗示高借贷成本带来的日益增 长的风险可能会对就业市场产生不利影响，这意味着美联储最早在9月份就可能有理由降息。此外，特 朗普宣布解雇美联储理事库克，引发对联储独立性的担忧。华泰证券研报指出，如果联储降息落地，有 望驱动美实际利率下行，对黄金是利好。中长期来看，该行认为黄金的上涨趋势或持续，且公司在建项 目持续推进，维持"买入"评级。 智通财经APP获悉，招金矿业(01818)涨超6%，盘中高见23.06港元创新高。截至发稿，涨6%，报22.98 港元，成交额3.42亿港元。 消息面上，8月24日晚间，招金矿业发布2025年中报。财报显示，上半年招金矿业实现收入69.73亿元， 同比劲增50.69%；归母净利润同比大增160.44%至14.4亿元。据中报披露，上半年公司瑞海项目加快基 建步伐，1.2万吨/日选矿系统一次性带水试车成功，初具工业化生产能力，这也意味着海域金矿的投产 预期进一步强化。 ...

消息面上，美联储主席鲍威尔周五在杰克逊霍尔全球央行年会上表示，美国就业市场面临的下行风险上 升，风险的平衡转变可能使得美联储调整政策立场成为恰当之举。这是鲍威尔迄今为止发出的最强烈的 信号，暗示美联储最早将于9月降息。华鑫证券指，美联储仍处于降息周期，鲍威尔发言为贵金属市场 注入强心剂，看好黄金价格进一步上涨。另值得关注的是，据报道，特朗普在社交媒体高调宣布，解除 美联储理事丽莎·库克（Lisa Cook）职务"立即生效"，此举引发对联储独立性的担忧。 黄金股再度走高，截至发稿，中国黄金（600916）国际(02099)涨6.46%，报94.8港元；灵宝黄金(03330) 涨6.08%，报12.22港元；招金矿业(01818)涨3.78%，报22.5港元；山东黄金（600547）(01787)涨 3.54%，报28.66港元。 ...

Core Viewpoint - A tragic accident occurred at Hunan Xinlong Mining Co., resulting in the death of an employee due to a rockfall during operations. The company has suspended production for safety reviews and is cooperating with investigations [1][3]. Group 1: Incident Details - On August 24, an employee of Xinlong Mining was killed when a rockfall occurred while handling anchor nets in the mining area [3]. - Following the incident, Xinlong Mining activated its emergency response plan and reported the accident to relevant authorities, leading to an immediate suspension of operations [3]. - The company is currently cooperating with local emergency departments for further investigation and management of the situation [3]. Group 2: Company Response - Hunan Gold Co., the parent company, expressed deep condolences for the victim and extended apologies to the family [3]. - The company plans to enhance safety education and training, conduct thorough safety inspections, and implement timely rectifications to prevent future incidents [3]. - The timeline for resuming operations at Xinlong Mining remains uncertain due to the ongoing investigation [3]. Group 3: Company Background - Xinlong Mining was established on November 29, 2003, and has developed into a state-owned enterprise engaged in the exploration, mining, selection, processing, and sales of minerals, primarily gold and antimony [3]. - The company has previously been recognized as a "City Advanced Unit in Safety Production" [4].

Core Viewpoint - China Gold International (02099) has seen its stock price rise over 7%, reaching a historical high of 96 HKD, following the release of its mid-term performance report, which shows significant growth in revenue and profitability [1] Financial Performance - The company reported a sales revenue of 580 million USD, an increase of 178.36% year-on-year [1] - Mining operating profit reached 277 million USD, reflecting a year-on-year increase of 1443.71% [1] - Shareholder profit amounted to 200 million USD, a turnaround from a loss of 31.67 million USD in the same period last year [1] Production Metrics - Total gold production for the first half of the year was 2.74 tons, representing a year-on-year growth of 69% [1] - Total copper production reached 35,000 tons, showing a year-on-year increase of 231% [1] - Both gold and copper production exceeded 50% of the annual guidance [1] Future Expansion Potential - The company has significant expansion potential at the Jiama mine, with the Yulongbu tailings project expected to be completed and operational by the first half of 2027, increasing daily processing capacity from 34,000 tons to 44,000 tons [1] - There is a possibility of further increasing processing capacity to 50,000 tons per day, pending safety permit approvals [1] - Exploration activities in the Bayi Ranch and Zhegu Langbei areas have shown substantial resource potential, which may support larger-scale future expansions [1]

Core Viewpoint - China Gold International (600916) has seen its stock price rise over 7%, reaching a historical high of 96 HKD, driven by strong mid-year performance results [1] Financial Performance - The company reported a sales revenue of 580 million USD, an increase of 178.36% year-on-year [1] - Mining operating profit reached 277 million USD, reflecting a significant increase of 1443.71% year-on-year [1] - Shareholder profit attributable to the company was 200 million USD, a turnaround from a loss of 31.67 million USD in the same period last year [1] Production Metrics - Total gold production for the first half of the year was 2.74 tons, representing a year-on-year growth of 69% [1] - Total copper production reached 35,000 tons, showing a substantial increase of 231% year-on-year [1] - Both gold and copper production exceeded 50% of the annual guidance [1] Future Expansion Potential - The company has significant expansion potential at the Jiama mine, with the Yulong tailings project expected to be operational by mid-2027, increasing daily processing capacity from 34,000 tons to 44,000 tons [1] - There is a possibility of further increasing processing capacity to 50,000 tons per day, pending safety permit approvals [1] - Exploration activities in the Bayi Ranch and Zhegu Langbei areas have shown considerable resource potential, which may support larger-scale expansions in the future [1]