Xizang Mineral Development (000762) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥541 million, up 304.58% year-over-year, driven by lithium product sales and new capacity from the Zabuye Phase II project.

• Net profit attributable to shareholders was ¥60.07 million, reversing a loss of ¥15.3 million in H1 2025.

• Cash flow from operations increased 438.59% year-over-year to ¥244.85 million.

• The board proposed a cash dividend of ¥1.00 per 10 shares, totaling ¥52.08 million.

Financial highlights

• Gross margin for lithium carbonate reached 54.18%, and for lithium concentrate (立体) 55.88%.

• Basic and diluted EPS were ¥0.115, up from -¥0.0290 year-over-year.

• Total assets at June 30, 2026 were ¥7.16 billion, down 2.91% from year-end 2025.

• Net assets attributable to shareholders rose 2.25% to ¥2.99 billion.

• Non-recurring profit items contributed ¥1.83 million, mainly from government subsidies and investment returns.

Outlook and guidance

• Lithium concentrate output is expected to ramp up in H2 2026 as Zabuye Phase II stabilizes.

• Management is focused on resolving bottlenecks in Zabuye Phase II and expanding resource reserves.

• No formal market value management or quality/return improvement plans disclosed.