Shandong Gold Mining (600547) Q4 2025 earnings summary

Executive summary

• Achieved record financial performance in 2025, with significant growth in revenue and net profit year-over-year.

• Gold production reached 48.89 tons, up 5.89% from the previous year, driven by both domestic and international mine output.

• Major investments in exploration, technology, and project development strengthened long-term resource base.

• Maintained robust cash flow and improved capital structure, supporting ongoing expansion and shareholder returns.

Financial highlights

• Revenue: RMB 104.29 billion, up 26.38% year-over-year.

• Net profit attributable to shareholders: RMB 4.74 billion, up 60.57% year-over-year.

• Operating cash flow: RMB 21.49 billion, up 61.12% year-over-year.

• Basic EPS: RMB 0.94, up 64.91% year-over-year.

• Gross margin for self-produced gold: 50.57%.

Outlook and guidance

• 2026 gold production target set at no less than 49 tons.

• Focus on stable production, resource expansion, cost control, and digital transformation.

• Continued investment in key projects, including deep mining and international expansion.

• Ongoing commitment to high-quality growth, ESG, and shareholder returns.