Yunnan Tin Company (000960) H1 2025 earnings summary

Executive summary

• Achieved revenue of ¥21.09 billion, up 12.35% year-over-year; net profit attributable to shareholders rose 32.76% to ¥1.06 billion.

• Operating cash flow was ¥1.42 billion, down 8.15% year-over-year.

• Total assets reached ¥36.86 billion, up 0.59% from year-end; net assets attributable to shareholders increased 2.61% to ¥21.39 billion.

Financial highlights

• Revenue: ¥21.09 billion (+12.35% YoY); net profit: ¥1.06 billion (+32.76% YoY).

• Gross margin for tin ingots: 13.23%; zinc products: 43.44%.

• Basic and diluted EPS: ¥0.6260 (+30.25% YoY); ROE: 5.37% (+0.92pp YoY).

• Operating cash flow: ¥1.42 billion (-8.15% YoY); EBITDA/total debt: 15.98% (+3.9pp YoY).

• Asset-liability ratio: 38.88% (down 1.31pp from year-end).

Outlook and guidance

• Plans to further strengthen resource exploration, enhance technical innovation, and improve operational efficiency in the second half of 2025.

• Focus on expanding global market share in tin and indium, and on deepening industry leadership.