Zangge Mining Company (000408) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 38.23% YoY to RMB 3.320 billion; attributable net income increased 122.09% to RMB 6.109 billion, supported by lithium growth and equity-method investment income.

• 9M earnings from the 30.78%-owned Julong Copper investment were RMB 4.708 billion, equal to 77.06% of attributable net income; cash dividends received totaled RMB 4.617 billion.

Financial highlights

• 9M net profit was RMB 6.097 billion, up 122.29% YoY; attributable net income was RMB 6.109 billion, up 122.09%, and adjusted attributable net income was RMB 6.225 billion, up 125.83%.

• 9M operating cash flow was RMB 1.751 billion, up 30.66% YoY; basic and diluted EPS were RMB 3.901, up 122.03%.

• At Sep. 30, total assets were RMB 19.511 billion and equity attributable to shareholders was RMB 18.085 billion, up 10.28% and 11.34% from year-end, respectively.

Outlook and guidance

• 9M potash output and sales reached 70.80% and 70.14% of full-year plans; lithium output and sales reached 91.08% and 83.72% of plans.

• The first phase of the 50,000-tonne/year Mami Cuo battery-grade lithium carbonate project reached design output and performance targets by quarter-end after trial feed began Aug. 1.