Zhongjin Lingnan H1 Net Profit Up 104.35% to RMB 1.142 Billion

Zhongjin Gold Co. , Ltd. released its 2026 semi-annual report on the evening of August 27. For the first half of the year, the company achieved operating revenue of RMB 42.982 billion, up 22.57% year on year; total profit of RMB 6.608 billion, up 61.90%; net profit attributable to shareholders of RMB 4.357 billion, up 61.67%; basic earnings per share of RMB 0.9, up 60.71%; and weighted average return on equity of 13.40%, up 4.04 percentage points year on year. In the second quarter, operating revenue totaled RMB 20.394 billion, up 0.92% year on year, while net profit attributable to shareholders was RMB 1.976 billion, up 19.32%.

In the first half of 2026, global geopolitical conflicts persisted and macroeconomic uncertainty intensified. International and domestic gold prices experienced significant fluctuations, hitting a record high early in the year before correcting and consolidating in the second quarter, with the average gold price still notably higher than in the same period of 2025. Copper supply disruptions continued, while demand from grid investment, new energy vehicles, and photovoltaic and energy storage sectors remained resilient, lifting the average copper price above the level of the same period in 2025. The company organized production and operations scientifically, producing 9.14 tonnes of mined gold in the first half, up 0.07% year on year, and 38,400 tonnes of mined copper, up 0.74%. Smelted gold output was 16.39 tonnes, down 15.16% year on year, and electrolytic copper output was 199,400 tonnes, down 2.22%, mainly due to systematic maintenance at the Zhongyuan smelter. Sales of mined gold totaled 8.51 tonnes, down 4.05%; smelted gold sales were 16.17 tonnes, down 10.65%; mined copper sales were 37,400 tonnes, down 6.52%; and electrolytic copper sales were 197,100 tonnes, up 3.43%.

The company deepened its "Year of Cost Management" special initiative, achieving cumulative cost reductions and efficiency gains of RMB 167 million through measures such as optimizing tunneling design, mineral processing technology, backfilling renovation, electricity consumption control, and centralized procurement bidding for main and auxiliary materials. It invested RMB 133 million in research and development and established three new business departments: strategic management, investment management, and marketing. In the first half, the company invested approximately RMB 140 million in geological exploration, adding 14.38 tonnes of gold metal reserves, and won bids for two mining rights, adding 9.55 square kilometers of area. The Shaling gold mine's processing plant completed water commissioning, and the tailings pond was basically completed.

Zhongjin Lingnan Co. In the first half, the company achieved operating revenue of RMB 42.194 billion, up 35.62% year on year; net profit attributable to shareholders of RMB 1.142 billion, up 104.35%; and basic earnings per share of RMB 0.26, up 73.33%. Second-quarter operating revenue totaled RMB 23.149 billion, up 50.05% year on year, while net profit attributable to shareholders was RMB 638 million, up 123.36%. Metal prices rose year on year during the period.

From January to June 2026, Zhongjin Lingnan's mining operations produced 112,400 tonnes of lead and zinc in concentrate, down 10.37% year on year, and 4,688 tonnes of copper in concentrate, down 14.10%. Smelting operations produced 456,200 tonnes of copper, lead, and zinc products, up 1.86%. New materials operations produced 7,734 tonnes of aluminum profiles, 11,400 tonnes of battery zinc powder, 671 tonnes of perforated nickel-plated steel (copper) strip, 1,084 tonnes of composite materials, 1,920 tonnes of thermostatic bimetal and other products, 4,503 tonnes of bronze, and 2,066 tonnes of cupronickel.