Summary by Moomoo AI
Shandong Gold Mining Co., Ltd. (“Shandong Gold”) announced its first quarter results for 2024 on 11 April 2024. According to preliminary estimates, the company expects net profit attributable to parent owners in the first quarter of 2024 to reach RMB6.50 billion to RMB7.50 billion, up 48.11% to 70.90% year-on-year. Net profit after non-recurring losses is expected to be RMB6.60 billion to RMB7.60 billion, up 50.18% to 72.94% year-on-year. The increase was mainly due to the company strengthening production organization, optimizing production layouts, increasing production rates and resource utilization, and reducing efficiency through technological innovation. In addition, the continued rise in gold prices and the acquisition of Bintai Gold also had a positive impact on profit growth. The net profit attributable to the owners of the parent company for the same period last year was RMB4.39 million. The Company emphasizes that these results announcement data are preliminary estimates and that the specific financial data will be based on the officially disclosed quarterly report.