China Gold International Resources (CGG) Q2 2026 earnings summary

Executive summary

• Record Q2 and H1 2026 results: H1 revenue reached US$914.2M and net profit US$512.1M, both at record highs.

• H1 gold production reached 51% of FY guidance and copper 56%; CSH’s slope incident temporarily suspended open-pit mining, but FY production guidance remained unchanged.

Financial highlights

• Q2 revenue rose 50% YoY to US$461.0M and net profit rose 137% to US$275.8M; H1 revenue increased 57.5% to US$914.2M and net profit rose 153% to US$512.1M.

• H1 mine operating earnings were US$620.1M, up from US$277.1M; operating cash flow reached US$555.2M, up from US$334.8M.

• H1 basic EPS was 127.99 US cents, versus 50.53 cents a year earlier; net profit margin was 56.0%.

• Q2 mine operating earnings were US$327.3M, versus US$159.4M a year earlier; Q2 net profit margin reached 59.8%.

Production and guidance

• H1 gold production was 72,317 oz, down 18% YoY; copper output was 78.64M lb, up slightly and at 56% of FY guidance.

• CSH expects normal mining to resume by end-Sept. 2026; the slope incident is not expected to materially affect FY production guidance.

• Jiama expects ore supply to rise in Q3–Q4 toward its annual processing target of 34,000 t/d; restoring the 50,000 t/d design rate depends on tailings-facility progress and permit capacity enhancement.

• 2026 guidance: CSH gold 70,732–83,592 oz; Jiama copper 140–149M lb, gold 70,732–75,554 oz and silver 4.18–4.82M oz.