Shandong Gold Mining Co., Ltd. provided unaudited earnings guidance for the first quarter of 2024. After preliminary calculation, it is estimated that the Company will realise a net profit attributable to the owners of the parent company of RMB 650 million to RMB 750 million for the first quarter of 2024, representing an increase of RMB 211 million to RMB 311 million as compared with the corresponding period of the previous year, or a year-on-year increase of 48.11% to 70.90%. It is expected that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be RMB 660 million to RMB 760 million for the first quarter of 2024, representing an increase of RMB 220 million to RMB 320 million as compared with the corresponding period of the previous year, or a year-on-year increase of 50.18% to 72.94%.
Main Reasons for the estimated increase in the results for the period: In the first quarter of 2024, the Company strengthened the role of strategic leadership,emphasized production organization, continuously optimized production layout,and enhanced technical management and technological innovation to improve the production operation rate and resource utilization rate. The Company continued further efforts on cost reduction and efficiency enhancement, elevated the standard of meticulous management and operational efficiency and stabilized production costs through technological innovation, process optimization, asset revitalization, centralized procurement and creation of benefits with policies. In addition, the continued rise in gold prices in the first quarter of 2024 and the acquisition of Yintai Gold also played a positive role in contributing to an increase in the Company's profits.