Yulong Gold(SH:601028)2022-03-31 08:12Group 1: Company Overview - The company has been engaged in bulk commodity trading since Q4 2019, covering various categories including mineral products, non-ferrous and precious metals, agricultural products, chemicals, coal, and oil [1] - In 2021, the company is expected to achieve a net profit of between CNY 367 million and CNY 448 million, representing a year-on-year growth of 213% to 282% [2] Group 2: Shareholder Changes - In October 2021, the company's largest shareholder, Hainan Houai Technology Co., Ltd., transferred 5% of its shares to Jinan High-tech Holding Group Co., Ltd., making it the controlling shareholder [3] Group 3: Asset Acquisition Progress - The company announced plans to acquire 100% equity of NQM Company to gain control of the Pakingo Gold Mine, which is part of an internal resource integration process [4] Group 4: Strategic Development - The acquisition of gold mining assets is aimed at enhancing the company's profitability and market competitiveness, transitioning from a single bulk commodity focus to a diversified mining resource strategy [9] - The Pakingo Gold Mine has an estimated gold resource of approximately 1.6 million ounces, with an average grade of 6.79 g/t and an expected annual processing capacity of 600,000 tons [8] Group 5: Financial Performance and Future Plans - The company anticipates stable revenue growth due to the integration of mining assets, with historical revenues around CNY 1 billion [10] - The company has no current plans for dividends due to significant capital expenditures related to strategic upgrades and business expansion [11] Group 6: Risk Considerations - The company emphasizes that the information shared during the research meeting should not be interpreted as guarantees of future performance or results, and investors should be aware of potential risks [14]