On December 11, 2023, Gelonghui reported that Debon Securities’ Research Reports pointed out that Shengda Resources (000603.SZ) is a leader in Precious Metals, with performance falling short of expectations in 2023, but significantly improving in 2024. It is believed that Gold did not decrease due to the increase in Trump's winning probability in October, mainly because the USD M2 growth rate continued to rise, or due to the pull of intrinsic value. After the election, Trump's election victory implementation, the slope of the USD may be one of the factors pushing Gold prices down recently, but more should be due to profit-taking after Gold prices reached intrinsic value. In the future, during the interest rate cut cycle, real interest rates may have a downward trend, which would boost Gold prices. Silver is more elastic compared to Gold. With the completion of the company’s mine technological transformation and the rise in Precious Metals prices, it is expected that the company's Net income attributable to shareholders for 2024-2026 will be 0.36, 0.58, and 0.74 billion yuan respectively. This is the first coverage, giving a 'Buy' rating.