YINTAI

Yintai Group’s listed affiliate Yintai Gold (SZ:000975) announced its 2022 interim results on August 29. For first six months of the year, its revenue grew by 14.53% year on year to RMB3.994 billion, while net profit attributable to shareholders of the listed company amounted to RMB566 million.

The report revealed that Yintai Gold, confronted with accelerating global inflation, sustained and repeated COVID-19 outbreaks, and tense geopolitical situations in H1 2022, steadily advanced its tasks according to the business plan it formulated at the beginning of the year by strengthening management, and refining responsibilities on the basis of safe production.

To fully harness the potential of its performance growth drivers, Yintai Gold strengthened four areas of its operations: (1) it enhanced mine production and exploration, and increased control over its resources, lowering costs and increasing gross margins by managing product costs; (2) expanded effective production capacity, and on the basis of ensuring balance in production ore volume, tapped internal potential, increased equipment operating rates, lifted annual ore volume processed, and lowered total cost; (3) increased sales management, fully utilized market tools, and worked hard to raise total average selling price; and (4) expanded resource reserves, an important indicator for gaging the development potential of resource companies because abundant reserves can lay a solid foundation for the future growth of the company. It increased investment in exploration, and accelerated the pace of converting the exploration rights of existing mines to mining rights. It has also actively acquired quality resources both at home and abroad, rapidly expanding the company’s asset size and mineral output.

Yintai Group has continued to innovate and change in recent years, and has promoted business diversification. By establishing Yintai Gold, it has gained a presence in the precious metal exploration and development sector, and established a stable growth engine for the Group’s results.

Yintai has good quality gold assets, and abundant high grade mining resource reserves. It has bright exploration prospects, as well as tremendous professional talent and technical strength. It is now one of the most influential listed companies in the domestic precious metals industry.