Shandong Gold Mining (600547) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 53.59 billion, down 5.60% year-over-year, mainly due to reduced external gold purchases.

• Net profit attributable to shareholders rose 26.17% year-over-year to RMB 3.54 billion.

• Total assets increased 4.21% from year-end 2025 to RMB 177.55 billion.

• The company maintained industry leadership in gold reserves and production, with overseas gold output up 18.03% year-over-year.

Financial highlights

• Operating income: RMB 53.59 billion, down 5.60% year-over-year.

• Net profit attributable to shareholders: RMB 3.54 billion, up 26.17% year-over-year.

• Operating cash flow: RMB 7.77 billion, down 26.01% year-over-year.

• Basic and diluted EPS: RMB 0.72, up 26.32% year-over-year.

• Gross margin improved due to cost control and higher overseas output.

Outlook and guidance

• Gold price volatility expected to persist due to geopolitical and macroeconomic uncertainties.

• Domestic gold production faces regulatory and safety challenges, but overseas expansion and resource integration to continue.

• Ongoing investment in exploration and technology to support long-term growth.