Zhongjin Gold Corp. (600489) Q4 2024 earnings summary

Executive summary

• Achieved record-high economic indicators, with profit before tax of ¥5.15 billion, up 19.62% year-over-year, and net profit attributable to shareholders of ¥3.39 billion, up 13.71% year-over-year.

• Revenue reached ¥65.56 billion, a 7.01% increase year-over-year, driven by both gold and copper segments.

• Cash flow from operating activities rose 22.83% year-over-year to ¥7.89 billion.

• Proposed a cash dividend of ¥3.88 per 10 shares, totaling ¥1.88 billion, representing 55.55% of net profit.

Financial highlights

• Revenue: ¥65.56 billion (+7.01% YoY); Net profit attributable to shareholders: ¥3.39 billion (+13.71% YoY).

• Operating cash flow: ¥7.89 billion (+22.83% YoY); Total assets: ¥55.64 billion (+5.62% YoY).

• Basic and diluted EPS: ¥0.70 (+14.75% YoY); ROE: 12.71% (+0.85pp YoY).

• Gross margin improved to 15.26% (+4.40pp YoY); mining segment margin at 46.37%.

• Non-recurring losses of ¥146 million, mainly from asset disposals and one-off expenses.

Outlook and guidance

• 2025 production targets: 18.17 tons of mined gold, 35.3 tons of refined gold, 79,400 tons of mined copper, 396,200 tons of electrolytic copper.

• Plans to add 33.5 tons of gold and 120,000 tons of copper in new resources.

• Focus on high-quality growth, resource acquisition, cost control, and technological innovation.