Shanjin International H1 Revenue RMB9.659 Billion, Net Profit RMB2.416 Billion, Up 51.43%

Shanjin International disclosed its 2026 interim report on the evening of August 19. In the first half, the company achieved operating revenue of RMB9.659 billion, up 4.47% year-on-year; net profit attributable to shareholders of RMB2.416 billion, up 51.43%; and net cash flow from operating activities of RMB3.067 billion, up 17.13%. Since 2023, the company's half-year revenue, net profit attributable to shareholders, and operating cash flow have all reached record highs for the corresponding period.

In the first half of 2026, international gold prices fluctuated widely due to multiple factors including interest rates, geopolitics, and global central bank reserve policies. The company focused on safe production and cost control, improved operational efficiency, and benefited from higher year-on-year selling prices for mineral products, leading to a significant increase in performance.

In production and operations, the profitability of the company's main products improved. In the first half, the gross margin for mined gold reached 83.81%, up 4.66 percentage points year-on-year; the gross margin for mined silver reached 73.93%, up 18.73 percentage points. In terms of production and sales, mined gold production was 3.26 tonnes and sales were 3.63 tonnes; mined silver production was 65.88 tonnes and sales were 76.25 tonnes.

The company's all-in sustaining cost (AISC) for gold remains in the top 10% globally. This cost advantage stems from high-grade, easily processable quality mine assets such as the Heihe Luoke Dong'an Gold Mine and the Qinghai Dachaidan Gold Mine, as well as the continued release of lean management efficiency.

During the reporting period, the company continued to advance reserve-increasing acquisitions, completing a cumulative geological exploration investment of RMB22.5461 million, surface drilling of 21,100 meters, and underground drilling of 13,000 meters. The northern ore section of the peripheral (II) area of the Hua'aobaote silver-lead mine of Yulong Mining completed review and filing of its exploration report, adding filed resource volumes of 556 tonnes of silver and 3.8 tonnes of gold. The deep ore bodies of the Qinglonggou Gold Mine in Qinghai Dachaidan remain open along strike and at depth, indicating potential for resource continuity.

Construction of key projects is progressing in parallel. For the Twin Hills Gold Mine mining and processing project in Namibia, equipment installation at the processing plant is proceeding in an orderly manner, and open-pit stripping works have commenced. As of the end of the reporting period, cumulative investment in the Twin Hills Gold Mine mining and processing project was approximately RMB1.185 billion, with project progress reaching 60.1%.

During the reporting period, the company completed the 2025 annual profit distribution and share buyback cancellation, with cash dividends and share buybacks totaling RMB1.433 billion, representing 48.22% of the annual net profit attributable to shareholders. The company's Wind ESG rating reached A grade, ranking among the top in the precious metals industry among participating companies. The company advanced its H-share listing work, completed responses to domestic and overseas regulatory reviews and submitted updated listing materials, and conducted investor roadshows.