JCHX Mining Management (603979) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 18.20% YoY to RMB 4.275bn; attributable net income increased 35.82% to RMB 872.2m. 9M revenue reached RMB 11.916bn, up 19.97%, and attributable net income was RMB 2.486bn, up 41.83%.

• Growth was driven by improved mining-service operations, expansion of owned-resource development and higher mineral-product prices, particularly copper.

Financial highlights

• Q3 total profit was RMB 1.231bn, up 42.90% YoY; 9M total profit was RMB 3.435bn, up 41.99%.

• 9M adjusted attributable net income was RMB 2.466bn, up 41.69%; Q3 adjusted attributable net income was RMB 855.0m, up 31.05%.

• 9M operating revenue was RMB 11.916bn versus RMB 9.933bn a year earlier; operating costs increased to RMB 8.626bn from RMB 7.481bn.

• 9M operating cash flow was RMB 2.649bn, up 1.37% YoY; cash and cash equivalents ended at RMB 4.478bn.

Outlook and guidance

• Iron-ore mining and sales results are expected to improve gradually as operating performance recovers from high equipment and production costs.