Shandong Gold predicts 16%-37% net profit jump in 2024

Shandong Gold Mining Co. (HKEX: 1787) forecasts a significant increase in its net profit attributable to owners of the parent company for the year 2024. Preliminary estimates indicate a range of RMB2.7 billion to RMB3.2 billion, representing a year-on-year surge of 15.98% to 37.46% compared to 2023's RMB2.328 billion. Excluding non-recurring gains and losses, the projected net profit is between RMB2.725 billion and RMB3.225 billion, a 23.14% to 45.73% increase. The company attributes the improved performance to enhanced production organization, technological innovation, optimized resource utilization, and favorable gold prices. These figures are preliminary and unaudited, with the official 2024 annual report expected by the end of March 2025.