Sinomine Resource Group (002738) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 24.85% YoY to RMB6.016bn and attributable net income increased to RMB1.625bn; Kitumba copper mining and processing entered trial production in September.

Financial highlights

• Q3 revenue was RMB2.356bn, up 51.87% YoY; attributable net income was RMB513.9m, up 346.48%, and adjusted net income was RMB487.4m, up 325.30%.

• 9M adjusted attributable net income reached RMB1.571bn, up 1,186.40% YoY; 9M attributable net income was RMB1.625bn, up 695.76%.

• 9M operating profit was RMB1.796bn versus RMB382.1m a year earlier; consolidated net profit was RMB1.591bn versus RMB190.6m.

Outlook and guidance

• Kitumba smelting engineering is under construction, with readiness or trial production expected in Q4 2026 and formal production targeted for Q1 2027.

• Kitumba design capacity is 3.5mtpa ore processing and 35,000 tonnes/year cathode copper; annual average output at full production is designed at 33,000 tonnes cathode copper and 55,000 tonnes copper concentrate.

• Kitumba has a 15-year designed operating life and planned lifetime output of 570,200 tonnes of copper metal.