Glonghui, December 7 | CITIC Securities released a research report, according to a research report, which gave China Gold International the first “buy” rating. The estimated net profit for 2023-25 is -0.31/1.64/306 million US dollars, respectively. Referring to the average valuation levels of comparable companies Zijin Mining, CICC Gold, Minmetals Resources, China Nonferrous Mining, and Zhaojin Mining, giving a PE valuation of 13 times 2024, corresponding to the target price of HK$42. The company is the only overseas listing platform under China Gold Group. Currently, the company is underestimated in terms of resource volume and output, while its business model focusing on copper and gold procurement gives the company high flexibility in copper and gold prices. With the gradual resumption of production at Jiama Mine, the company's performance is expected to fully benefit from the resounding rise in copper and gold prices.