Shandong Gold Mining (600547) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 8.02% YoY to RMB 90.50bn, while net profit attributable to shareholders fell 19.60% to RMB 3.18bn; Q3 recorded a net loss of RMB 362.5m.

• Q3 revenue grew 36.63% YoY on higher gold-bar sales and prices, but lower self-produced gold output and sales weighed on quarterly profit.

Financial highlights

• 9M total profit rose 29.26% YoY to RMB 9.78bn; consolidated net profit increased to RMB 6.23bn from RMB 5.42bn.

• 9M attributable net profit was RMB 3.18bn, down 19.60%; adjusted for the disclosed securities fair-value loss, it was RMB 3.71bn, down 6.23%.

• Q3 attributable net loss was RMB 362.5m and adjusted net loss was RMB 331.0m; basic and diluted EPS were both -RMB 0.11.

• 9M operating cash flow was RMB 9.33bn, down 38.63% YoY.

Outlook and guidance

• Approval was obtained for the 15,000-tonne/day expansion at Sanshandao Gold Mine; next steps include safety-facility design approval and project construction.