Minmetals Development H1 2026 Revenue RMB 23.9 Billion, Net Profit RMB 5.85 Million, Advances Major Asset

On the evening of August 27, Minmetals Development released its 2026 semi-annual report. During the reporting period, affected by persistently weak market demand and volatile commodity prices, the company achieved operating revenue of RMB 23.936 billion, with net profit attributable to shareholders of the listed company of RMB 5.8457 million.

The company accelerated business structure adjustment, strengthened market risk prevention, and enhanced cost control. The raw materials business deepened its resource acquisition channels, continued to strengthen long-term cooperation with large overseas mining companies, and ensured stable supply of key commodities. The steel business continued to optimize its business structure, leveraging its advantages in terminal distribution and processing support services to successfully develop key customers in the automotive plate, wind power plate, and ship plate industrial chains. The supply chain integrated business expanded both internally and externally, with continuous optimization of warehousing network layout and steady improvement in end-to-end logistics service capabilities. In the first half of 2026, the company achieved a steel trading volume of approximately 4.33 million tons and a total logistics service volume of 79.64 million tons.

On August 21, the company's second extraordinary shareholders' meeting in 2026 reviewed and approved proposals related to the major asset restructuring. Upon completion of this transaction, the listed company will achieve a transformation of its main business, changing from trading business to iron ore mining, ore dressing and processing, and sales of iron concentrate powder products.