Gelonghui, April 2 | According to the Minsheng Securities Research Report, Shandong Gold (600547.SH)'s performance increased dramatically in 23 years, and the gold leader also grew. Q4 net profit to mother was 983 million yuan, up 77.71% year on year and 111.11% month on month; net profit without return to mother was 934 million yuan, up 70.40% year on year and 134.38% month on month. The performance exceeded our previous expectations. Currently, the company has four major gold mining and construction projects: the Jiaojia Mining Area (integrated) gold mine development, the Xincheng gold mine integrated development, the Namutini gold mine project, and the 2000t/d expansion project selected by the Chifeng Chaihulan subsidiary. The above projects are expected to greatly increase the company's production capacity after implementation. Considering that the company is a leader in the gold industry, the merger and acquisition of Yintai Resources has greatly increased production reserves, Liberty Mine is expected to further release production and maintain a “recommended” rating after resource integration.
研报掘金丨民生证券：山东黄金23年业绩大幅增长，维持“推荐”评级
Research Report Nuggets丨Minsheng Securities: Shandong Gold's performance has increased dramatically in 23 years, maintaining a “recommended” rating
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