Shandong Gold (01787) expects net profit to be 1.85 billion to 2.25 billion yuan in the first three quarters, up 37.52%-67.26% year-on-year

Zhitong Finance App News, Shandong Gold (01787) announced that according to preliminary estimates, net profit attributable to owners of the parent company is expected to be RMB 1,850 million to RMB 2,250 million in the 1st to 3rd quarter of 2024, an increase of RMB 505 million to RMB 905 million compared with the same period last year, an increase of 37.52% to 67.26% over the previous year. Net profit attributable to owners of the parent company is expected to be RMB 1,887 million to RMB 2,277 billion for the 1st to 3rd quarter of 2024, an increase of RMB 597 million to RMB 997 million compared with the same period last year, and an increase of 46.68% to 77.93% year-on-year.

According to the announcement, in the 1st to 3rd quarter of 2024, the company strengthened its strategic leading role, highlighted strengthening production organization, continuously optimizing production layout, strengthening technology management and technological innovation, improving production operation rate and resource utilization; continuously deepening cost reduction and efficiency, improving the level of refined management, improving operating efficiency, and stabilizing production costs through scientific and technological innovation, process optimization, asset revitalization, centralized procurement, and policy efficiency; at the same time, gold prices continued to rise in the 1st to 3rd quarter of 2024, and the merger and acquisition of Shanjin International (formerly “Yintai Gold”) also boosted the company's profits.