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【出版时间及名称】：20100205 UBS 中国黄金行业深度分析 China’s gold rush
【作者】：UBS
【文件格式】：pdf
【页数】：124 pages
【目录或简介】：
Summary and investment case 3
UBS’s view on gold 5
Industry analysis 8
Industry risks 23
Valuations and comparables 24
Company pages 33
— Zijin Mining Group - H ........................................................................................34
— Investment Thesis........................................................................................35
— Company risks .............................................................................................37
— Factors for strong growth .............................................................................38
— Financials ....................................................................................................41
— Price target derivation ..................................................................................45
— Company background..................................................................................47
— Zhaojin Mining Industry ......................................................................................51
— Investment Thesis........................................................................................52
— Risks analysis ..............................................................................................54
— Low-cost miner on fast growth track.............................................................55
— Financials ....................................................................................................58
— Price target derivation ..................................................................................62
— Company background..................................................................................64
— Zijin Mining Group - A ........................................................................................67
— Investment Thesis........................................................................................68
— Company risks .............................................................................................70
— Factors for strong growth .............................................................................71
— Financials ....................................................................................................74
— Price target derivation ..................................................................................78
— Company background..................................................................................80
— Zhongjin Gold.....................................................................................................84
— Investment Thesis........................................................................................85
— Risks analysis ..............................................................................................87
— The fastest growing gold miner in China ......................................................88
— Financials ....................................................................................................91
— Price target derivation ..................................................................................96
— Company background..................................................................................98
— Shandong Gold Mining.....................................................................................102
— Investment Thesis......................................................................................103
— Risk analysis..............................................................................................105
— Growth drivers: asset injections, discovery, and expansion........................106
— Financials ..................................................................................................108
— Price target derivation ................................................................................112
— Company background................................................................................114
Appendix 118
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