Yintai Gold (000975.SZ), an affiliate of Yintai Group, recently announced its 2020 full-year results and issued its 2020 annual report. The annual report revealed that the staff of the Company were united in their fight against COVID-19, and achieved “zero accident” and “zero infection” at the Company’s mines, ensuring safe and steady output in 2020.
According to the Company’s annual report, in 2020, Yintai Gold achieved revenue and operating profit of RMB7.905 billion (+53.54% year-on-year) and operating profit of RMB1.748 billion (+46.62% year-on-year), respectively, with net profit attributable to shareholders of the listed company of RMB1.242 billion (+43.77% year-on-year). Higher gold prices and sales volume were the primary reasons for the increase in profit.
As such, CITIC Securities, Essence Securities and other securities firms have rated Yintai Gold’s business positively, and advised investors to buy its stock.
In particular, CITIC Securities said in its research report that rapid growth in quality gold mine output was the key earnings growth driver for Yintai Gold. With core operations returning to full-year production coupled with the Company’s low-cost advantages, Yintai Gold ws forecast to show steady growth in gold and silver output, which implied that revenue and profit would be expected to increase significantly going forward.
According to Yintai Gold’s annual report, the Company, by way of tapping internal potential and external acquisitions over the next two to three years, plans to:
? carry out various forms of collaboration with quality domestic mines;
? accelerate its internationalization process;
? strive to become an influential listed company in China’s resource sector;
and will work diligently to reward investors handsomely.
*Note: This information is provided for information only and does not constitute, and should not be construed as, investment advice.