Tongling Nonferrous Metals Group (000630) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥121.72 billion, up 59.98% year-over-year, with net profit attributable to shareholders at ¥2.99 billion, up 107.93% year-over-year.

• Core products such as cathode copper and sulfuric acid saw significant price increases, and copper foil processing fees rose, supporting profit growth.

• The company maintained its leading position in the domestic copper industry, with cathode copper production capacity at 2.2 million tons/year and copper foil at 80,000 tons/year.

Financial highlights

• Operating income: ¥121.72 billion, up 59.98% year-over-year.

• Net profit attributable to shareholders: ¥2.99 billion, up 107.93% year-over-year.

• Basic and diluted EPS: ¥0.22, up 100% year-over-year.

• Gross margin for copper products: 6.58%; for chemical and other products: 75.61%.

• Net cash flow from operating activities: ¥54.39 million, up 68.95% year-over-year.

• Total assets at period end: ¥109.28 billion, up 9.06% from year-end 2025.

Outlook and guidance

• The company continues to focus on high-quality, sustainable growth, with ongoing investments in green, intelligent copper-based new materials and overseas resource development.

• Risks from copper concentrate supply, processing fees, and global economic/geopolitical uncertainties are being actively managed.