Chifeng Jilong Gold Mining (600988) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 2.03 billion, up 19.88% year-over-year; YTD revenue was RMB 6.22 billion, up 22.93% year-over-year.

• Net profit attributable to shareholders for Q3 2024 was RMB 394.67 million, up 89.83% year-over-year; YTD net profit was RMB 1.11 billion, up 112.59% year-over-year.

• Significant profit growth driven by higher gold prices and lower costs.

Financial highlights

• Basic and diluted EPS for Q3 2024 were RMB 0.24, up 84.62% year-over-year; YTD EPS was RMB 0.67, up 109.38% year-over-year.

• Net cash flow from operating activities YTD was RMB 2.00 billion, up 67.17% year-over-year.

• Weighted average return on net assets for Q3 was 5.67%, up 2.14 percentage points; YTD was 16.66%, up 6.26 percentage points.

• Total assets at Q3 end were RMB 19.90 billion, up 6.29% from the previous year-end.

• Owners' equity attributable to shareholders was RMB 7.12 billion at Q3 end.

Segment performance

• Gold production for Q3 2024 was 10,749,832g, up 5.05% year-over-year; sales volume was 10,949,638g, up 4.95%.

• Significant YoY increases in production and sales of Pb, Zn, and Mo concentrates due to Hanfeng Mining plant reconfiguration.

• Cu cathode production and sales declined YoY by 18.45% and 22.74%, respectively.