Zijin Mining released its unaudited results for the six months ended 30 June 2026, posting record earnings and announcing a higher interim dividend.
Financial highlights • Revenue reached RMB 194.18 billion, up 15.78% year-on-year, driven by stronger pricing and higher sales volumes in key metals.
• Profit before tax jumped 84.05% to RMB 63.49 billion; net profit attributable to shareholders rose 68.17% to RMB 39.17 billion.
• Basic EPS climbed to RMB 1.473 (1H 2025: RMB 0.877).
• Gross margin improved to 37.75% from 23.75%, while mining-segment margin expanded to 69.34% (1H 2025: 60.23%).
• Operating cash flow almost doubled to RMB 55.47 billion (+92%). Free cash was bolstered by higher commodity prices and disciplined costs.
Balance-sheet metrics • Total assets increased 5.73% since year-end 2025 to RMB 541.35 billion. • Net assets attributable to shareholders rose 10.95% to RMB 205.87 billion. • Debt-to-asset ratio improved to 49.55% (end-2025: 51.56%). Cash and cash equivalents stood at RMB 91.32 billion, up 39.25% from December.
Segment performance & production • Mined gold output grew 13% to 46.70 tonnes; mined copper slipped 5.7% to 534,000 tonnes due to Kamoa flooding, though ex-Kamoa production rose 4.8%. • Lithium carbonate equivalent production soared 496% to 43,600 tonnes as new projects ramped up. • Mined zinc & lead totalled 198,600 tonnes (–1%), while mined silver edged up 2.5% to 229 tonnes. • Other products—including molybdenum, tungsten, sulphuric acid and iron ore—contributed 19% of revenue and 15.5% of gross profit.
Capital allocation • An interim cash dividend of RMB 0.42 per share (tax inclusive) will be paid, totalling RMB 11.14 billion. • Year-to-date, the group repurchased 77.47 million A shares for RMB 2.50 billion and completed a **USD 1.5 billion** zero-coupon H-share convertible bond issue in February.
Outlook & strategy Management reaffirmed its “gold-copper-lithium” focus, with major capacity additions on track: Julong Copper’s expansion is online; Zhunuo Copper and the Manono lithium refinery are slated to start up by end-2026. The group maintains a global project pipeline while targeting further deleveraging and margin enhancement.