Inner Mongolia Xingye Silver & Tin Mining (000426) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥2.20 billion, up 76.42% year-over-year, with net profit attributable to shareholders at ¥883 million, a 566.43% increase year-over-year.

• Significant profit growth driven by increased production and higher sales prices, especially after technical upgrades at key subsidiaries.

• The company’s main business remains nonferrous and precious metal mining and smelting, with a diversified product portfolio including silver, tin, zinc, lead, iron, copper, antimony, and gold.

Financial highlights

• Operating income for Q2 2024 was ¥1.43 billion, up 82.20% year-over-year and 87.63% sequentially.

• Operating profit for H1 2024 was ¥1.04 billion, up 491.86% year-over-year.

• Basic and diluted EPS for H1 2024 were ¥0.4808, up 565.93% year-over-year.

• Net cash flow from operating activities was ¥875 million, up 16.88% year-over-year.

• Gross margin for mining segment reached 64.70%, up 24.49 percentage points year-over-year.

Outlook and guidance

• The company expects continued stable growth, leveraging resource advantages and ongoing technical upgrades.

• Market volatility in metal prices and macroeconomic uncertainties remain key factors for future performance.