If we calculate 5 tons of metal by-products from Jiangtong's own mining last year, it is expected to increase Jiangtong's gross profit by 25 million yuan on a quarterly basis under an average share of quarterly production.
The Zhitong Finance App learned that UBS released a research report saying that Jiangxi Copper Co., Ltd. (00358)'s first-quarter results were in line with expectations. Investors were expected to respond well to the results, so it maintained a “neutral” rating, with a target price of HK$13.6. In the first quarter of this year, the price of copper in China (excluding VAT) increased 1.7% quarterly to RMB 61,347 per ton. Based on Jiangtong's annual guide production of 200,000 tons, it is estimated that if production is shared evenly every quarter, copper prices can drive a quarterly increase of 52 million yuan in gross profit. As for the increase in gold prices by 4% quarterly in the first quarter, if we calculate 5 tons of metal by-products from Jiangtong's own mining last year, it is expected to drive a quarterly increase of 25 million yuan in gross profit with an average share of quarterly production.