Environmental protection inspections are strictly enforced. The rise in antimony prices triggered by contraction in supply was affected by environmental protection inspectors. Some small-scale mines with no environmental protection measures stopped production, leading to a decline in antimony production, triggering a rise in antimony prices. According to data from USGS and the China Nonferrous Metals Association, China's antimony production accounts for more than 75% of the world, while China's antimony supply has declined year by year. In 2015, China's antimony product production was about 200,000 tons, a year-on-year decrease of 23.6%; antimony concentrate production was about 110,000 tons, a year-on-year decrease of 18.1%. As environmental standards and safety standards become more stringent, the operating rate of antimony mining enterprises continues to decline, shutdowns and production cuts have gradually increased, and the overall supply and demand situation in the industry has improved, contributing to the rise in antimony prices. The company has a perfect industrial layout and stable performance of polymetallic ores Huayu Mining is a large lead-zinc polymetallic mining enterprise in Tibet. It is mainly engaged in non-ferrous metal mining, mineral processing, geological exploration and trade business. The main products include zinc concentrate, lead and antimony concentrate (containing silver), copper concentrate, etc., and the polymetallic mining industry has stable performance. Of the main product business revenue, zinc concentrate accounts for 30%; lead-antimony concentrate products account for about 69% of revenue, of which antimony accounts for 11%, silver accounts for 31%, lead accounts for 27%; and copper concentrate accounts for 1%. Antimony metal production in 2015 was 4,524 tons. The company has 2 mining licenses and 4 prospecting warrants. Currently, it has reserves of lead, zinc, copper, antimony and silver resources reaching 8304,000 tons, 1,267,000 tons, 28,000 tons, 187,300 tons, and 2141.37 tons, respectively. The performance of the leading regional industry is expected to continue to improve. As a regional industrial leader, Huayu Mining has become the second batch of prospecting breakthroughs in prospecting strategies to complete the exploration area with the largest amount of resources and production capacity. Based on the advantages of non-ferrous metal resource formation conditions and low exploration levels in the Tibet Autonomous Region, future resource exploration prospects and mining growth potential are high, and profitability is obvious. Currently, benefiting from rising antimony prices, lead and zinc prices are also in an upward channel. We estimate that the company's 2016-2018 EPS will be 0.44 yuan, 0.80 yuan, and 1.19 yuan, and PE will be 87.78, 48.10, and 32.32, respectively, giving the company a “buy” rating. Risks suggest that metal prices fluctuate greatly, and environmental protection implementation falls short of expectations.