NBD AI Bulletin - Chifeng Jilong Gold Mining Co Ltd ("the Company", SH 600988, close price: 16.78 yuan) announced its performance forecast on January 18, expecting net profit attributable to shareholders of the listed company in 2020 to increase by about 575 million yuan or about 305.83% from a year ago.
The main reason for the change in performance is that in 2020, the Company implemented a scientific and reasonable incentive mechanism around strategic planning objectives, which greatly stimulated the enthusiasm of staff, resulted in the significant increase in gold production and sales, and reduced costs and improved efficiency. Plus the rise of gold prices, the gross margin of gold products greatly increased compared with the previous year. Due to the appreciation of renminbi, the Company's liabilities in dollar generated floating exchange gains.
The Company's 2020 semi-annual report shows that Chifeng Jilong Gold Mining Co., Ltd. mainly engages in mining, and recycling of non-ferrous metal resources, accounting for 66.6% and 33.32% of its revenue, respectively.
Chifeng Jilong Gold Mining Co., Ltd.'s chairman is Wang Jianhua, male, 65 years old, EMBA, senior economist, senior accountant. Chifeng Jilong Gold Mining Co., Ltd.'s president is Lyu Xiaozhao, male, 58 years old, graduate degree, senior mining engineer, registered senior consultant, certified professional manager.
Tips on "stock trends":
1. The number of the Company's shares bought by northbound investors increased 3.4051 million over the past 30 days, representing 0.24% of its circulating shares.
2. No institutional research on the Company was conducted over the past 30 days.
3. Based on the projections of securities firms, the Company's average net profit for 2020 is 793 million yuan. The Company's net profit for the earlier year was 188 million yuan.
(By Lan Suying)
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