Zhongjin Gold Corp. (600489) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 14.86 billion, up 12.88% year-over-year, with net profit attributable to shareholders at RMB 1.04 billion, a 32.65% increase year-over-year.

• Adjusted net profit (excluding non-recurring items) surged 71.13% year-over-year to RMB 1.27 billion, reflecting strong operational performance and favorable gold prices.

• Basic and diluted EPS both rose to RMB 0.21, up 31.25% from the same period last year.

Financial highlights

• Total assets at quarter-end were RMB 59.93 billion, up 7.72% from year-end 2024; shareholders' equity increased 3.88% to RMB 28.46 billion.

• Operating cash flow was negative RMB 1.96 billion, a significant decline from positive RMB 1.08 billion in Q1 2024, mainly due to higher cash outflows for goods and services.

• Gross margin improved as revenue growth outpaced cost increases; operating profit reached RMB 1.58 billion, up from RMB 1.18 billion year-over-year.

• Weighted average ROE increased to 3.72%, up 0.74 percentage points year-over-year.

Outlook and guidance

• Management attributed profit growth to seizing favorable gold price trends and ongoing cost reduction and efficiency initiatives.