Zhaojin Mining Industry Company (1818) Q2 2026 earnings summary

Executive summary

• Revenue rose 29.38% year-over-year to RMB9.02 billion for the six months ended 30 June 2026, driven mainly by higher gold prices despite a decline in gold production volume.

• Net profit increased 18.50% year-over-year to RMB2.11 billion, with profit attributable to owners up 9.61% to RMB1.58 billion.

• Gold production fell 12.33% year-over-year due to mine suspensions and safety incidents, but overseas gold output rose 33.44%, offsetting some domestic shortfall.

• No interim dividend was declared for the period.

Financial highlights

• Gross profit grew 42.51% year-over-year to RMB4.35 billion, with gross margin improving to 48.18% from 43.74%.

• Basic and diluted EPS rose 10.75% year-over-year to RMB0.42.

• Cash and cash equivalents increased 152.55% from year-end to RMB4.61 billion.

• Total assets reached RMB61.04 billion, up 6.56% from 31 December 2025.

• Gearing ratio improved to 35.9% from 38.4% at year-end.

Outlook and guidance

• The company will focus on safety, compliance, and accelerating the resumption of mine production to close the output gap.

• Plans include expanding overseas capacity, optimising cost controls, and driving project construction for long-term growth.

• Management aims to stabilise core operations and strive for the best possible annual results despite ongoing production challenges.