Shengda Resources

What Shengda Resources does

Shengda Resources Co., Ltd. (盛达金属资源股份有限公司, SZSE: 000603) is a Beijing-headquartered, Shenzhen-listed non-ferrous metals mining group operating under the dual strategy of 'Primary Mineral Resources + Urban Mine Resources.' The company mines and processes silver, lead, zinc, gold, and copper mineral products through a portfolio of wholly-owned and majority-owned subsidiaries, including Yincheng Mining (银都矿业), Jinshan Mining (金山矿业), Guangda Mining (光大矿业), Chifeng Jindu (赤峰金都), Dongsheng Mining (东晟矿业), and Deyun Mining (德运矿业) in the Daxing'anling western slope silver-lead-zinc metallogenic belt of Inner Mongolia, and Sichuan Honglin Mining in Sichuan. The company holds 8 mining rights and 6 exploration rights, with approximately 9,300 tons of silver reserves and 198万吨 (1.98 million tons) of annual mining and ore processing capacity, positioning it as the 'A-share Silver Leader.' Flagship subsidiary Yincheng Mining consistently achieves gross margins above 80%.

Shengda generates revenue by selling silver-bearing lead concentrate, zinc concentrate, silver ingots, and gold directly to downstream smelting enterprises and non-ferrous metal trading companies across China through direct B2B sales contracts, with no intermediary distribution channels. Pricing follows market commodity prices; specific pricing tiers are not publicly disclosed. The customer base is concentrated in industrial smelters and metal traders, with end-market exposure spanning photovoltaic/solar, 5G infrastructure (silver), and traditional industrial metals. In December 2019, the company expanded into urban mining by becoming the largest shareholder of Hunan Jinye Environmental Protection (金业环保), which holds a 60,000 tons/year hazardous waste business license to recycle nickel, cobalt, manganese, and other metals from solid hazardous waste — targeting the EV battery and new energy materials supply chain. Jinshan Mining has developed proprietary manganese-silver separation technology and is constructing a manganese sulfate monohydrate production line as a battery cathode precursor.

Shengda has pursued an aggressive 'endogenous + external expansion' strategy, executing a series of acquisitions since 2011 (Yincheng Mining in 2011, Guangda/Chifeng Jindu in 2015-2016, Jinshan Mining in 2018, Deyun Mining in 2019, Sichuan Honglin in 2023, Yichun Jinshi in 2025, and Guangxi Laibin Jinshi in 2026) to build a multi-metal, multi-region resource portfolio. The company reported CNY 2.901 billion in revenue in 2019, has been included in the S&P Emerging Markets Index (2019) and FTSE Russell Global Stock Index (2020), and operates as a Shanghai Gold Exchange Special Member. All operational mines have been included in national or regional green mine lists, and Yincheng Mining was designated a National Green Mine pilot enterprise. The controlling shareholder is Shengda Group (盛达集团), a diversified conglomerate controlled by Zhao Mantang, with Zhao Qing serving as Chairman since 2026.

Name

Shengda Resources

Legal name

盛达金属资源股份有限公司

Website

https://sdkygf.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shengda Resources (SZSE: 000603) is a Beijing-headquartered, Shenzhen-listed non-ferrous metals mining group and the self-described 'A-share Silver Leader,' operating silver, lead, zinc, gold, and copper mines across China with approximately 9,300 tons of silver reserves. The company sells mineral products directly to industrial smelters and traders and is expanding into urban mining and EV battery materials recycling through subsidiary Jinye Environmental Protection.

Ownership category

akta.pro rank

Product category

Non-Ferrous and Precious Metals Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Gold Mining (IMAKAEAA), Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Precious Metals Recycling & Urban Mining (E-waste, Catalysts, Jewelry Scrap) (IMAKAEAG)

Keywords

• Precious metals mining
• Silver mining
• Lead zinc mining
• Non-ferrous metals
• Mining processing

Headquarters

HQ city

Fengtai

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Mineral Product Sales: Revenue from mining and processing of silver, lead, zinc, gold, and copper mineral products. Final products include silver-bearing lead concentrate, zinc concentrate, silver ingots, and gold. Sales are made directly to smelting enterprises and non-ferrous metal trading companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Shengda Resources extracts and processes non-ferrous and precious metal ores, producing silver, lead, zinc, gold, and copper mineral products for sale to industrial smelters and metals traders. Through subsidiaries such as Yindu Mining, Jinshan Mining, Guangda Mining, and Deyun Mining, the company operates a combined ~1.98 million-ton annual mining and processing capacity and holds roughly 9,300 tons of silver reserves. It is also building out a new-energy metals recycling business targeting nickel, cobalt, and lithium.

Product overview

Shengda Resources is a holding enterprise group primarily engaged in non-ferrous metal mining, sales, trade, investment, and investment management. The company operates under a dual-strategy of 'Primary Mineral Resources + Urban Mine Resources'. The product portfolio consists of two core business segments: (1) Precious Metals Business covering silver, gold, lead, and zinc mining through subsidiaries including Yindu Mining, Jinshan Mining, Guangda Mining, Jindu Mining, Dongsheng Mining, Deyun Mining, and the recently acquired Yichun Jinshi Mining, Laibin Jinshi Mining, and Sichuan Honglin Mining; and (2) New Energy Metals Business focused on nickel, cobalt, and lithium recycling through Jinye Environmental Protection. Final products include silver-bearing lead concentrate, zinc concentrate, silver ingots, gold, and manganese sulfate for battery applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Silver mineral products (silver-bearing concentrates)

Quantifiable outcome

• Silver reserves of ~9,300 tons, annual processing capacity of 198万吨, operating mines with 10+ years service life each
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• 中国恩菲工程技术有限公司 (China ENFI Engineering Technology Co., Ltd.)coreStrategic or Co-development Partner · 1 April 2026Shengda Resources subsidiary Yichun Jinshi Mining signed an engineering design contract with China ENFI for the 460 Gaodi Copper-Molybdenum Mine project. ENFI will provide comprehensive engineering design, technology, construction management, intelligent operations, and green development coordination for the mine development project.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Jiangxi Copper: China's largest copper producer (600362.SH) with significant gold and silver byproduct output. Overlaps with Shengda's recently acquired copper exposure (Yichun Jinshi Cu-Mo) — broader incumbent with diversified metals portfolio and significantly larger scale.
• Shandong Gold: Shanghai/HK-listed (600547.SH/1787.HK) gold mining major with silver byproduct. Comparable as a Chinese A-share precious metals miner; Shengda's Caiyuanzi copper-gold acquisition overlaps with Shandong Gold's regional gold mining franchise in similar Chinese provinces.
• Zijin Mining: China's largest gold and copper miner (601899.SH/2899.HK) with diversified operations including silver. Major incumbent that competes for acquisition targets and dominates Chinese precious/base metals capital markets — broader scale and more diversified metal exposure than Shengda.
• Western Mining: Shanghai-listed (601168.SH) diversified non-ferrous metals miner producing lead, zinc, copper, and silver in Qinghai and other Chinese regions. Comparable as a Chinese-listed multi-metal miner, though broader portfolio and larger scale than Shengda.

Direct peers

• Yintai Gold: Shenzhen-listed (600891.SH) gold/silver mining company with operations across China. Closely comparable business model — multi-asset Chinese precious metals miner pursuing both organic and acquisitive growth in silver-gold resources.
• Zhongjin Lingnan Nonferrous Metal: Shenzhen-listed (000060.SZ) lead-zinc miner that also produces silver, copper, and other byproducts. Operates Fankou and other major Pb-Zn mines in Guangdong. Highly comparable lead-zinc-silver miner with similar customer base of Chinese smelters and trading companies.
• Silvercorp Metals: Toronto-listed (SVM) silver-lead-zinc producer operating mines in China (Ying mine in Henan). Highly comparable as a pure silver-lead-zinc mining company operating in China with comparable production scale, ore grades, and customer base of smelters.
• Henan Yuguang Gold & Lead: Chinese-listed lead, gold, and silver smelter/producer with vertically integrated mining-to-refining operations. Comparable as a domestic Chinese precious/base metals producer with silver as a key revenue contributor and similar B2B smelter-customer profile.
• Yunnan Chihong Zinc & Germanium: Major Chinese lead-zinc miner (600497.SH) with significant silver byproduct production. Operates Huize mine, one of China's largest lead-zinc operations. Directly comparable as a Chinese-listed non-ferrous metals miner with silver-lead-zinc co-product output and similar smelter-customer business model.

Regional players

• Hecla Mining: NYSE-listed (HL) primarily silver mining company with US (Idaho, Alaska) and Mexico operations. Comparable as a pure silver-focused miner, though operating in different geographies — useful as an international benchmark for silver miner economics and valuation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shengda Resources