Chifeng Gold: The customers for rare earth product sales of its holding subsidiary, Chixia Mining (Laos), are determined through bidding.

An investor asked on the investor interaction platform: "Dear Secretary to the Board, can the rare earth minerals and rare earth refining products of your company be sold directly overseas?" Chifeng Gold (600988.SH) stated on the investor interaction platform on May 27 that the customers for the rare earth products of Chixia Mining (Laos) Co., Ltd., a subsidiary controlled by the company, are determined through bidding.

Chifeng Gold stated on the investor interaction platform on May 12 that a very small portion of the equipment and materials involved in the company's global procurement business are imported from the US to its overseas mine subsidiaries in Laos and Ghana, and do not involve mines within China. The average annual total value of imports from the US by the company's two overseas subsidiaries is relatively small, accounting for no more than 0.1% of the company's total procurement.

According to Chifeng Gold's Q1 report, in the first quarter of this year, the company's operating revenue reached 2.407 billion yuan, up 29.85% YoY. The net profit attributable to shareholders of the publicly listed firm was 483 million yuan, up a substantial 141.10% YoY. The net profit excluding non-recurring gains and losses also rose significantly to 488 million yuan, with a YoY increase of 138.58%.

Chifeng Gold's 2024 annual report shows that in 2024, the company achieved a total operating revenue of 9.026 billion yuan, up 24.99% YoY, and a net profit attributable to shareholders of 1.764 billion yuan, up 119.46% YoY. The company's proposed 2024 dividend distribution plan is to distribute a cash dividend of 1.6 yuan (tax included) per 10 shares to all shareholders.

Huayuan Securities issued a research report on April 30, giving Chifeng Gold a "Buy" rating. The main reasons for the rating include: 1) a significant increase in unit selling prices; 2) a slight decline in production and sales volumes; 3) a notable decrease in costs at domestic mines, while costs at overseas mines increased significantly due to low head grades and equipment upgrades. Risk warnings: demand volatility risk; risk of project construction falling short of expectations; risk of metal price fluctuations; political risks in the countries where projects are located.

Minsheng Securities issued a research report on April 28, giving Chifeng Gold a "Recommend" rating. The main reasons for the rating include: 1) Event: The company released its Q1 report for 2025; 2) Commentary: A slight decrease in production, with a notable increase in costs at the Wassa mine; 3) Key highlights: Accelerated progress in key projects driving capacity expansion. Risk warnings: significant volatility in metal prices, project progress falling short of expectations, overseas geopolitical risks, etc.

Hua'an Securities issued a research report on April 7, giving Chifeng Gold a "Buy" rating. The main reasons for the rating include: 1) Chifeng Gold released its 2024 annual report; 2) Both the volume and price of gold increased, driving performance growth; 3) The company has the potential for continuous expansion of production and reserves. Risk warnings: US policy uncertainty may lead to volatile gold prices; project construction may fall short of expectations; mine safety and environmental protection risks, etc.