Jiangxi Copper Company (358) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB307.16 billion, up 19.53% year-over-year; net profit attributable to shareholders surged 106.77% to RMB8.63 billion.

• Total assets increased 34.10% to RMB293.27 billion, with net assets attributable to shareholders rising 7.82% to RMB87.63 billion as of June 30, 2026.

• Completed acquisition of 100% equity in SolGold Plc, significantly expanding overseas copper, gold, and silver resources.

• No interim dividend or capital reserve transfer proposed for the period.

Financial highlights

• Basic EPS doubled to RMB2.50; net cash flow from operating activities rose 102.49% to RMB5.81 billion.

• Gross profit increased to RMB14.53 billion from RMB9.19 billion year-over-year; gross profit margin improved.

• EBITDA interest coverage ratio improved to 15.34x; asset-liability ratio rose to 65.48%.

• Total liabilities increased 54.17% to RMB192.02 billion, mainly due to higher borrowings.

• Significant non-recurring profit and loss items totaled RMB1.08 billion, mainly from asset disposals and government grants.

Outlook and guidance

• Copper market expected to remain volatile amid global supply constraints and macroeconomic uncertainties.

• Continued focus on resource expansion, technological innovation, and high-end material development.

• Ongoing digital transformation and green initiatives to drive long-term competitiveness.