Chifeng Jilong Gold Mining (600988) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 7.02 billion, up 33.11% year-over-year; net profit attributable to shareholders was RMB 1.73 billion, up 56.50% year-over-year.

• Operating cash flow was RMB 1.88 billion, up 16.60% year-over-year; capital expenditures increased 45.43% to RMB 1.41 billion.

• Asset-liability ratio improved to 29.62%, down 4.29 percentage points from year-end 2025.

• Major strategic event: Zijin Mining became the largest shareholder via equity transfer and H-share placement.

Financial highlights

• Gross margin rose to 57.55% from 48.10% year-over-year; comprehensive margin improvement across key products.

• Basic and diluted EPS were RMB 0.92, up 46.03% year-over-year.

• Return on equity (ROE) reached 12.31%, up 1.08 percentage points year-over-year.

• Main business revenue: 75.73% from overseas mines; gold production 6.2 tons, electrolytic copper 5,399 tons.

• Dividend payout: RMB 0.32 per share, total RMB 600.84 million.

Outlook and guidance

• Management targets production recovery and capacity ramp-up in H2 2026, focusing on technical upgrades and cost control.

• Gold prices expected to remain high; company to leverage Zijin Mining’s resources for further growth.

• Ongoing expansion and technical upgrades at key mines in China, Laos, and Ghana.