China Mining International (BHD) Q4 2025 earnings summary

Executive summary

• FY2025 revenue was RMB 51,000 from a new agricultural-products trading stream; loss for the year narrowed to RMB 7.06m from RMB 78.17m in FY2024.

• Cost controls, lower impairments and lower finance costs supported the reduced loss, while net liabilities of RMB 4.99m and reliance on creditor and shareholder support remain significant.

Financial highlights

• Revenue and gross profit were RMB 51,000 and RMB 1,000, respectively, versus nil revenue in FY2024; selling and distribution expenses were eliminated.

• Loss before tax was RMB 7.03m versus RMB 78.34m; loss attributable to equity holders was RMB 5.31m versus RMB 56.66m.

• Total comprehensive loss was RMB 7.06m versus RMB 98.53m, including prior-year FVOCI fair-value loss of RMB 20.36m.

• G&A expenses fell over 57% YoY; finance expenses declined 59%, and other expenses fell over 96%, mainly on lower impairments and no bearer-plant write-offs.

• Operating cash outflow was RMB 2.49m versus RMB 3.55m; investing activities generated RMB 0.85m versus RMB 2.35m, and financing activities generated RMB 0.98m versus using RMB 5.65m.

Outlook and guidance

• New agricultural-products trading revenue stream launched in Q4 and expanded in January 2026; plans include higher sales volume and a broader product portfolio.

• Seeking buyers or strategic partners to realise value from the Thabazimbi Mine investment; discussions with potential counterparties are ongoing.

• Targeting RMB 10m of private-placement equity financing for business development and continuing creditor discussions on loan restructuring.

• Cost initiatives include disposing of dormant holding companies and using lower-cost service providers; Hong Kong subsidiary deregistration is expected in H1 2026.