Jinduicheng Molybdenum (601958) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥6.96 billion, up 5.55% year-over-year, with net profit attributable to shareholders at ¥1.38 billion, down 8.45% year-over-year due to increased raw material reserves and lower sales in processing segments.

• The company maintained stable production, with key products exceeding planned output; molybdenum concentrate output grew 0.11% and ferromolybdenum output rose 12% year-over-year, hitting a record high for the period.

• R&D investment increased, with 77 projects in progress and significant breakthroughs in high-end materials and new product development.

• The company continued to expand its domestic and international customer base, achieving a 5.11% year-over-year increase in molybdenum product sales and developing 73 new clients.

• Operating profit and total profit both declined by over 8% compared to the same period last year.

Financial highlights

• Operating income: ¥6,958,959,020.07 (up 5.55% year-over-year).

• Net profit attributable to shareholders: ¥1,379,620,000 (down 8.45% year-over-year).

• Total assets at period end: ¥21,922,799,045.14 (up 6.23% from year-end 2024).

• Net cash flow from operating activities: -¥708,877,499.95 (down from +¥581,343,304.30 in H1 2024), mainly due to increased procurement of raw materials.

• Basic and diluted EPS: ¥0.428 (down 8.35% year-over-year).

Outlook and guidance

• The company is committed to its “quality and efficiency doubling” plan and “second entrepreneurship” strategy, aiming for high-quality growth and global leadership in the molybdenum industry.

• Plans to reach 100,000 tons of molybdenum concentrate capacity within five years, focusing on high-end, green, and digital transformation.

• Plans to further strengthen production and sales coordination, seize market opportunities, and enhance cost control in the second half of the year.

• Aims to achieve full-year operating targets despite first-half profit decline.