Yintai Gold, a subsidiary of Yintai Group, recently announced its Q3 2020 financial results. These were the best set of key quarterly profit indicators since its listing.
The Q3 report revealed that revenue for the first three quarters of the year increased by 66.28% year-on-year to RMB6.445 billion, with profit attributable to the parent company at RMB956 million, up 45.18% year-on-year; net profit attributable to the parent company after deducting non-recurring items grew by 39.09% year-on-year to RMB907 million.
For Q3 specifically, Yintai Gold’s revenue rose by 96.08% year-on-year to RMB2.642 billion, with net profit attributable to the parent company before and after deducting non-recurring items at RMB346 million (+56.95% year-on-year) and RMB355 million (+64.78% year-on-year), respectively. This was Yintai Gold’s best quarterly performance since listing.
Securities firms such as CITIC Securities, China Galaxy Securities, China Great Wall and GF Securities published research reports stating that steady production output helped underpin continued growth in Yintai Gold’s profitability for the first three quarters of the year.
In particular, CITIC Securities said in its report that, “Rising gold prices as well as quality gold ore from its mines contributing fully to Q3 production boosted earnings of the gold division. The company’s future revenue and earnings are expected to rise steadily as the silver, lead and zinc mines of former core business, Yulong Mining, have achieve designed capacity on schedule, and prices of silver and zinc are recovering, bringing profit elasticity.” “Steady production output of quality mining resources will become a key driver of rapid growth for the company’s performance.” (Quoted from https://finance.sina.com.cn/)
*Note: This information is provided for information only, and shall not constitute any investment advice.