Zhongjin Gold Corp. (600489) Q2 2024 earnings summary

Executive summary

• Achieved net profit attributable to shareholders of ¥1.74 billion, up 27.69% year-over-year, despite a 3.34% decline in revenue to ¥28.53 billion.

• Total assets reached ¥57.45 billion, up 9.06% from year-end 2023; net assets attributable to shareholders decreased 1.04%.

• Gross margin improved as cost control and efficiency measures offset lower sales.

• Maintained strong industry position with ongoing resource expansion and technology investment.

Financial highlights

• Revenue for H1 2024 was ¥28.53 billion, down 3.34% year-over-year.

• Net profit attributable to shareholders rose 27.69% to ¥1.74 billion; basic EPS was ¥0.36, up 28.57%.

• Operating cash flow was -¥574 million, a significant decrease from ¥1.3 billion in H1 2023, mainly due to increased cash outflows for goods and services.

• Total assets grew to ¥57.45 billion; asset-liability ratio increased to 46.60%.

• Adjusted net profit (excluding non-recurring items) was ¥1.67 billion, up 17.84% year-over-year.

Outlook and guidance

• Focus remains on high-quality growth, resource expansion, and cost control.

• Company aims to complete annual production and reform targets, leveraging technology and management improvements.

• No interim dividend or capital increase plan for the half-year.