CMOC Group (3993) Q3 2026 earnings summary

Executive summary

• 9M revenue reached RMB207,290,422 thousand, up 42.48% YoY; net profit attributable to shareholders was RMB24,019,513 thousand, up 68.21% YoY.

• Q3 revenue was RMB71,970,536 thousand, up 41.92% YoY; attributable net profit was RMB7,867,326 thousand, up 40.28% YoY.

• Lean management and higher production and sales of core products supported record results for the corresponding period.

Financial highlights

• 9M total profit was RMB38,709,822 thousand, up 60.83% YoY; net profit was RMB27,691,397,324 versus RMB16,488,452,601 a year earlier.

• Adjusted for non-recurring items, 9M attributable net profit was RMB23,335,364 thousand, up 60.52% YoY.

• 9M basic and diluted EPS were RMB1.12 per share, up 67.16% YoY; Q3 EPS was RMB0.37, up 42.31% YoY.

Segment performance

• Copper revenue was RMB52,416,906 thousand, up 35.73%; gross margin was 60.45%, up 6.38 percentage points YoY.

• Gold revenue was RMB4,707,290 thousand; production of 160,913 ounces and sales of 158,064 ounces came from four Brazilian mines after transaction completion.

• Molybdenum revenue rose 31.17% to RMB6,109,973 thousand; tungsten revenue rose 146.23% to RMB3,909,217 thousand.

• Mineral trading revenue rose 29.11% for concentrates and 56.31% for refined metals; gross margins were 3.33% and 1.28%, respectively. IXM trading gross margin under IFRS was 1.90%.

• Copper production and sales increased 9.81% and 9.02% YoY; cobalt sales fell 75.19%, while tungsten production and sales fell 16.10% and 32.12%.