Home > awhvqpmqf > Intime Resources (000975) Company Dynamic Comment: High-quality Gold Mine Starts Production in April

Intime Resources (000975) Company Dynamic Comment: High-quality Gold Mine Starts Production in April

Intime Resources (000975) Company Dynamic Comment: High-quality Gold Mine Starts Production in April
Shanghai Shengwei consolidated and injected the company’s net profit sharply: Recently, Intime Resources released the 2018 annual report, and the company actually achieved revenue of 48.26 ppm, an increase of 116 in ten years.69%; net profit attributable to mother 6.6.3 billion yuan, an annual increase of 96.7佛山桑拿 8%; net profit after returning to the mother 6.33 ppm, an increase of 105 in ten years.1%; annual EPS is 0.3344 yuan, an increase of 0 over the same period last year (after gradually adjusting).126 yuan; the profit distribution plan is to pay 2 yuan (including tax) for every 10 shares.Benefiting from the consolidation of the Shanghai Shengwei Gold Mine business with higher gross profit margins and the rise in lead and zinc prices, excluding some of the trading business, the company’s gross profit margin reached 63.66%, an increase of 11 from 17 years.16 average, performance performance slightly exceeded expectations.Due to the growth of the main product gold price in the first quarter of 2019, the company expects that the net profit attributable to mothers will reach 1 in the first quarter.65-1.7.5 billion, an increase of 41 every year.75% -50.34%, performance maintained rapid growth. The Qinghai Dachaidan Gold Mine and Yulong Large Shaft Project are about to be completed and put into production. The company’s production prospects are expected: The Qinghai Dachaidan Gold Mine’s open-air to underground engineering has been completed.In 2018, Dongan Gold Mine and Banmiaozi jointly produced gold5.57 tons. In 2019, the three major gold mines are expected to reach 7 tons.Yulong Mining’s large shaft project is planned to be put into production by October 2019. The project will add three new lifting capacity, 3,500 tons / day shaft, to two vertical shafts for transformation, which will significantly improve the mining and transportation capacity of the mine, andOn the basis of the existing cost, the production cost of ton ore will be reduced. After the completion of Yulong Mining, the production of silver, lead and zinc ore will increase significantly. The first phase of the employee shareholding plan announced the company’s cohesion and competitiveness: the company announced on April 17The employee’s shareholding plan budget includes 11 employees including Dong Jiangao and no more than 34 core key personnel, and the planned fundraising budget does not exceed 300 million yuan.The company has now repurchased 2541.150,000 shares of employee shareholding plan, after the successful completion of 北京夜网the shareholding plan, will realize the binding of employees and the company’s interests, improve the company’s cohesion and competition. Investment suggestion: We expect the company’s EPS for 2019-2021 to be 0.42 yuan / 0.52 yuan / 0.56 yuan, corresponding PE is 24.45/19.72/18.32 times, maintaining the “recommended” level. Risk reminder: Precious metal price risk project advances less than expected Fed policy shift to eagle