SDR(000603)2025-01-02 11:00Group 1: Company Overview - Shengda Resources Co., Ltd. is involved in the mining and processing of metals, with a focus on copper and silver [1][2]. - The company has a production capacity of 480,000 tons per year as per the mining license [2][3]. Group 2: Project Updates - The Jinshan Mining technical renovation project is expected to reach full production capacity by September 2024 [2][3]. - The Honglin Mining project is currently at 50% completion for the tailings pond construction, with trial production anticipated between July and September 2025 [2][3]. Group 3: Financial Matters - The company has received a total of 600 million yuan in deposits related to a lawsuit, with 70,854,011.10 yuan in fees accounted for in 2024 [3]. - The remaining 40% of the funds, amounting to 42,010,739.73 yuan, is still pending, introducing uncertainty regarding the impact on profits [3]. Group 4: Market Insights - The current gold-silver ratio is around 90, indicating that silver has significant potential for price increases [3]. - The company believes that silver prices will show substantial upward movement due to its industrial and precious metal properties [3]. Group 5: Sales Strategy - The sales strategy for refined powder products is based on a prepayment model, with prices referencing major metal price indices [3][4]. - The pricing for silver content in lead and zinc concentrates is determined based on assay results and agreed coefficients in contracts [4].