IPO News | Yamakin International (000975.SZ) sprinted to nearly double the amount of gold resources on the Hong Kong Stock Exchange in two years

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on September 24, Shanjin International Gold Co., Ltd. (Shanjin International) submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities, CICIC Securities, CICC, and UBS Group as co-sponsors. Shanjin International (000975.SZ) has been listed on the Shenzhen Stock Exchange.

According to the prospectus, Shanjin International is one of the leading gold producers in China. It is mainly engaged in the exploration, mining and metallurgy of other non-ferrous metals such as gold, silver, lead and zinc, as well as metal trading. According to Frost & Sullivan, Shanjin International is the most profitable and cost-effective gold producer among listed gold companies in China in terms of gold mining gross margin and gold mineral cost.

Yamakin International's gold production ranks sixth among Chinese gold producers, and gold reserves rank fourth among Chinese gold producers. The company's gold resources increased significantly during the track record period. As of June 30, 2025, Shanjin International's gold resources reached 284.6 tons, which nearly doubled compared to 146.7 tons as of December 31, 2023. For the year ended December 31, 2024, Shanjin International's total gold maintenance cost was 683.5 US dollars/ounce, which is in the top 10% of the global total maintenance cost curve for gold mining, while the global average for the same year was 1438.1 US dollars/ounce.

Yamakin International owns and operates six mining companies, distributed in China and Namibia. Among them, five gold mining enterprises are affiliated with 6 mining licenses, 29 prospecting permits, and 4 are applying for prospecting permits, and one polymetallic mining enterprise has 3 mining licenses and 6 mining licenses.

Among them, the Qinghai Dachaidan Xijinggou open pit mining expansion project will be completed and put into operation by 2028; the Mangshi Huasheng Gold Mine is expected to produce 1.9 tons of gold per year; the Shuangshan Gold Mine is the largest gold project in Namibia, with an estimated annual output of 5.1 tons of gold after commissioning. The project is expected to be completed and put into operation by 2027; with the construction of mines such as Yulong Mining's Bayan Wenduri Mine, annual silver production is expected to increase by more than 83.5 tons.

On the financial side, for the six months ended June 30 in 2022, 2023, 2024, and 2025, the company achieved revenue of approximately RMB 8.373 billion, RMB 8.095 billion, RMB 13.58 billion, and RMB 9.241 billion, respectively. In the same period, profits for the year/period were approximately RMB 1,247 billion, RMB 1,566 billion, RMB 2,438 billion, and RMB 1,773 billion, respectively.