Henan Hongxing Mining Machinery Co., Ltd is a joint-stock mining machinery manufacturing enterprise integrated in scientific research, production and marketing. It is located at the High & New Technology Industries Development Zone of Zhengzhou,China with an area of 50 thousand m2 which includes 15,000 m2 of standard heavy duty industrial workshop. Equipments are more than 160 pieces, including large and medium sized metal processing, riveting and installing equipments. There are more than 660 workers including 80 administrators with secondary and senior occupational titles and engineering technicians. In order to promote the competitive strength, the advanced technologies have been introduced from America, Germany, Japan and Australia, which established the international advanced production line, first-class modern testing base as well as research centers of sand maker, mill and mine-selecting equipment. Scientific management, advanced processing technology and innovative manufacturing theory make the company become the mining machinery manufacturing and exporting base in China.
Hongxing Company lays much emphasis on the quality and clients. We serve clients with the quality guideline of being responsible for every working procedure, every product and every client. What we have done is for the clients and we believe that quality is the best way to develop market. All of the products have passed the authentication of ISO9001. Hongxing Brand is the Chinese Famous Brand. Reliable and stable quality is the key to success; our products are well known at home and abroad. Now we have tens of thousands of users throughout China and more than 30 world markets, such as: South Africa, Middle East, India, Philippine, Western Europe, Southeastern Asia.The cast of characters: Mkt Cap 4/30/08 Mkt Cap 4/25/09 % Change Zijin 152.83B 104.03B -31.90% Jiangxi 103.41B 70.79B -31.50% Yunnan Copper Co 35.06B 24.42B -30.30% Zhongjin Gold Corp. Ltd 21.41B 21.42B 0.00% Shandong Gold 21.13B 27.74B 31.30%And their stock performance in the intervening year: Other than cementi ng the idea that Chinese companies are volatile, this chart shows how comparative company performance has been to the price of gold. That"s gold there - that nice, seemingly steady orange line along the top of the chart. Certainly no company avoids the big swings - like the big pop in gold at the end of September, but these are far from pure leverage-the-metal plays. And while the companies tend to move together, each of them is different - both Yunnan Copper and Jiangxi are really copper companies that mine a bit of gold. How little? Well, Yunnan produced 11.083 metric tons in 2008. Nothing to sneeze at, but a mere pittance when compared with what the other companies in the industry are pulling out of the ground. It"s really copper that is making or, in this case breaking, them. In the first quarter of 2009, Jiangxi"s net dropped 89% - mainly because its primary business revolves around cathode copper, and copper"s price and demand have both dropped. Zhongjin Gold Corp. and Shandong Gold, however, are almost pure-play gold companies. In 2007 Zhongjin Gold Corp. mined and processed 70.95 metric tons of standard gold and another 4.68 metric tons of mineral gold. It also mined 4,347 metric tons of electrolytic copper; 10,272 metric tons of content copper; and various amounts of silver, iron ore concentrate and sulfuric acid. But 91% of Zhongjin Gold"s total revenue was from gold. This year, the company is expecting to see its net profit increase 100% over 2007 due to the increase in gold price and the acquisition of nine new mines. Let me say that again - Zhongjin is expecting net profit to go up 100% from 2007 to 2008. Truth? We"ll find out soon - Zhongjin Gold Corp. will release its 2008 audited earnings report on April 29. Shandong Gold, for its part, has already reported profits up 72% for 2008 and is expecting an additional 50% increase in profits for 2009. And how about the largest Chinese gold company, Zijin Mining Group? In March, Zijin r eported its 2008 net profit grew a paltry 20% in the last year. That growth can be directly attributed to gold, with 63% of revenue coming from higher gold prices and increased production; but it also shows how hard it is for a larger player to really juice the bottom line. The company produced 57.32 tons of gold (and mined about 12% of all the gold coming out of China) and had a net profit of 2.897 billion yuan (about $425 million) in its gold business. The interesting thing will be to see if the non-Chinese miners can compete with Shandong and Zhongjin, because we"re headed right into the heart of gold-company earnings season. (Note: Be sure to check out Brad Zigler"s earnings scorecard.) Freeport-McMoRan Copper and Gold Inc. reported a net income of $43 million for the first quarter of 2009 - compared with $1.1 billion for 2008 - that"s a 96% drop. Ouch. Bad year to be in the copper business. Barrick Gold Corp (NYSE: ABX) is due to release its first-quarter results on Apr il 29. For 2008, Barrick managed to increase its revenues by 25% over 2007. Nice, but nowhere near the results some of the Chinese companies saw, and first-quarter estimates aren"t looking that much better than Freeport"s. The next two weeks will be interesting, as many of the rest of the big gold companies - Newmont (4/30), Kinross (5/5), Harmony (5/8) and AngloGold (5/15) - will be reporting their results. Our guess, however, is that nobody will have the concentrated performance of the leading Chinese pure-play gold miners.
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