Compare with market expectatio-To The Moon - Tiger Brokers Online Investing Community - To The Moon

1
Comment
Favorite

Desperados
08-22 08:26

Compare with market expectations

Zijin Mining Posts Record H1 Revenue and Profit as Gold, Copper, and Lithium Segments Fire on All Cylinders

On August 21, Zijin Mining (02899.HK) released its 2026 interim results, reporting first-half revenue of RMB 194.178 billion, up 15.78% year-on-year. Net profit attributable to shareholders surged...

Zijin Mining Posts Record H1 Revenue and Profit as Gold, Copper, and Lithium Segments Fire on All Cylinders

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

1

Report

Comment

Top
Latest

empty

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":599320370143632,"tweetId":"599320370143632","gmtCreate":1787358373592,"gmtModify":1787367370314,"author":{"id":4146712531488132,"idStr":"4146712531488132","authorId":4146712531488132,"authorIdStr":"4146712531488132","name":"Desperados","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.09.18","exceedPercentage":"93.29%","individualDisplayEnabled":0},"individualDisplayBadges":[],"wearingBadges":[{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","isScarce":0,"effectEnabled":0,"redirectLinkEnabled":0,"redirectLinkValidityFrom":0,"redirectLinkValidityTo":9223372036854776000}],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body><p>Compare with market expectations&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Compare with market expectations&nbsp;</p></body></html>","text":"Compare with market expectations","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/599320370143632","repostId":1158327261,"repostType":2,"repost":{"id":"1158327261","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1787322638,"share":"https://ttm.financial/m/news/1158327261?lang=en_US&edition=fundamental","pubTime":"2026-08-21 22:30","market":"nz","language":"en","title":"Zijin Mining Posts Record H1 Revenue and Profit as Gold, Copper, and Lithium Segments Fire on All Cylinders","url":"https://stock-news.laohu8.com/highlight/detail?id=1158327261","media":"Deep News","summary":"On August 21, Zijin Mining (02899.HK) released its 2026 interim results, reporting first-half revenue of RMB 194.178 billion, up 15.78% year-on-year. Net profit attributable to shareholders surged...","content":"<p>On August 21, <b>Zijin Mining (02899.HK)</b> released its 2026 interim results, reporting first-half revenue of RMB 194.178 billion, up 15.78% year-on-year. Net profit attributable to shareholders surged 68.17% to RMB 39.17 billion, while net cash flow from operating activities climbed 92.41% to RMB 55.472 billion.<br><br>During the period, the gold business contributed 41.2% of total revenue and 41.7% of group gross profit. The copper segment accounted for 33.8% of gross profit, while the lithium division — dubbed the company's \"third growth engine\" — contributed 2.2% of revenue and 3.4% of gross profit.<br><br><b>Gold, Copper, and Lithium All See Volume and Price Gains</b><br><br>According to the interim report, <b>Zijin Mining</b>'s overall gross margin reached 37.75%, up 14 percentage points year-on-year. The gross margin for mined products stood at 69.34%, a rise of 9.11 percentage points, driven by significantly higher metal selling prices and effective management of cash costs per tonne. As of the reporting period end, total assets stood at RMB 541.4 billion, with net assets attributable to shareholders at RMB 205.9 billion. The debt-to-asset ratio fell to 49.55%, dropping below 50% for the first time since 2012, reflecting a more optimized capital structure.<br><br>The sharp improvement in profitability was underpinned by robust metal prices. In the first half, amid rising global sovereign debt and diversification of central bank reserve assets, gold's value underwent a revaluation, with average international gold prices hitting USD 4,693 per ounce, up 53.0% year-on-year. <b>Zijin Mining</b> produced 46.70 tonnes of mined gold, an increase of 13.4%.<br><br>Copper, a core \"computing metal,\" benefited from rapid AI development and the electrification wave, with prices reaching record highs and maintaining elevated volatility. The average LME copper price rose 38.5% year-on-year to USD 13,083 per tonne. <b>Zijin Mining</b> produced 534,400 tonnes of mined copper, up 5% excluding the impact of Kamoa. However, due to the flooding incident at the Kamoa-Kakula copper mine and the subsequent ramp-up, the mine's 2026 production guidance was revised down from 380,000–420,000 tonnes to 290,000–330,000 tonnes, putting pressure on the company's full-year mined copper output target.<br><br>Benefiting from improved lithium fundamentals driven by energy storage demand, lithium prices recovered, with average domestic lithium carbonate prices soaring 132.1% year-on-year to RMB 163,427 per tonne. The lithium segment, as <b>Zijin Mining</b>'s \"third growth engine,\" has achieved scale contributions, with lithium carbonate equivalent output reaching 43,600 tonnes, a year-on-year surge of 496%. Additionally, comprehensive utilization of by-products such as molybdenum, tungsten, sulfur concentrate, and sulfuric acid delivered notable benefits, emerging as new profit highlights.<br><br><b>Cumulative Dividends Exceed RMB 20 Billion This Year</b><br><br>In resource acquisition, <b>Zijin Mining</b> has pursued a dual-track strategy of exploration and mergers. The company is actively advancing the closing of its acquisition of control over Chifeng Gold, whose Sepon gold-copper mine in Laos (SND project) added 153 tonnes of gold equivalent metal. It also completed the acquisition of a 72% stake in Gansu Northwest Gold for approximately RMB 2.4 billion, which holds 16 exploration permits with cumulative identified gold resources of 107.4 tonnes. Through court auction and agreement transfer, the company acquired Lianrui Mining, indirectly obtaining a 55% interest in the Kekekarde tungsten-tin mine for about RMB 900 million, lifting consolidated WO3 resources to 320,000 tonnes and positioning the company among China's top-tier tungsten producers.<br><br>On the exploration front, <b>Zijin Mining</b> has intensified its \"prospecting near existing mines\" strategy, with deep-level supplementary exploration at projects including Julong Copper, Zhunuo Copper, Buriticá Gold, Rosebel Gold, and Ruiguoduo Gold yielding significant results.<br><br>In project expansion, the Julong Copper Mine expansion was completed and commissioned in January 2026, adding 300,000–350,000 tonnes of annual mined copper capacity. The Zhunuo Copper Mine is scheduled for commissioning by end-2026, adding 76,000 tonnes of annual capacity. The Manono Lithium Mine achieved heavy media separation commissioning in May 2026, about one month ahead of schedule, with the first phase of the smelting series targeted for commissioning by end-2026. Construction of the Shapinggou molybdenum ore processing project began in June 2026, which will position the company among the world's largest molybdenum producers. The 3Q Salt Lake lithium project, Laguocuo Salt Lake lithium project, and Xiangyuan hard rock lithium mine are steadily ramping up capacity.<br><br>Notably, in shareholder returns, <b>Zijin Mining</b> completed its FY2025 dividend distribution of RMB 10.1 billion in late June 2026, followed by an interim dividend proposal of RMB 11.1 billion on July 10 — RMB 4.2 per 10 shares (pre-tax) — marking the first time cumulative dividends in a single calendar year have exceeded RMB 20 billion. Concurrently, the company unveiled its 2026–2028 shareholder dividend return plan, raising the cumulative cash dividend ratio to 35% of cumulative distributable profits, up from 30%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zijin Mining Posts Record H1 Revenue and Profit as Gold, Copper, and Lithium Segments Fire on All Cylinders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZijin Mining Posts Record H1 Revenue and Profit as Gold, Copper, and Lithium Segments Fire on All Cylinders\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-08-21 22:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>On August 21, <b>Zijin Mining (02899.HK)</b> released its 2026 interim results, reporting first-half revenue of RMB 194.178 billion, up 15.78% year-on-year. Net profit attributable to shareholders surged 68.17% to RMB 39.17 billion, while net cash flow from operating activities climbed 92.41% to RMB 55.472 billion.<br><br>During the period, the gold business contributed 41.2% of total revenue and 41.7% of group gross profit. The copper segment accounted for 33.8% of gross profit, while the lithium division — dubbed the company's \"third growth engine\" — contributed 2.2% of revenue and 3.4% of gross profit.<br><br><b>Gold, Copper, and Lithium All See Volume and Price Gains</b><br><br>According to the interim report, <b>Zijin Mining</b>'s overall gross margin reached 37.75%, up 14 percentage points year-on-year. The gross margin for mined products stood at 69.34%, a rise of 9.11 percentage points, driven by significantly higher metal selling prices and effective management of cash costs per tonne. As of the reporting period end, total assets stood at RMB 541.4 billion, with net assets attributable to shareholders at RMB 205.9 billion. The debt-to-asset ratio fell to 49.55%, dropping below 50% for the first time since 2012, reflecting a more optimized capital structure.<br><br>The sharp improvement in profitability was underpinned by robust metal prices. In the first half, amid rising global sovereign debt and diversification of central bank reserve assets, gold's value underwent a revaluation, with average international gold prices hitting USD 4,693 per ounce, up 53.0% year-on-year. <b>Zijin Mining</b> produced 46.70 tonnes of mined gold, an increase of 13.4%.<br><br>Copper, a core \"computing metal,\" benefited from rapid AI development and the electrification wave, with prices reaching record highs and maintaining elevated volatility. The average LME copper price rose 38.5% year-on-year to USD 13,083 per tonne. <b>Zijin Mining</b> produced 534,400 tonnes of mined copper, up 5% excluding the impact of Kamoa. However, due to the flooding incident at the Kamoa-Kakula copper mine and the subsequent ramp-up, the mine's 2026 production guidance was revised down from 380,000–420,000 tonnes to 290,000–330,000 tonnes, putting pressure on the company's full-year mined copper output target.<br><br>Benefiting from improved lithium fundamentals driven by energy storage demand, lithium prices recovered, with average domestic lithium carbonate prices soaring 132.1% year-on-year to RMB 163,427 per tonne. The lithium segment, as <b>Zijin Mining</b>'s \"third growth engine,\" has achieved scale contributions, with lithium carbonate equivalent output reaching 43,600 tonnes, a year-on-year surge of 496%. Additionally, comprehensive utilization of by-products such as molybdenum, tungsten, sulfur concentrate, and sulfuric acid delivered notable benefits, emerging as new profit highlights.<br><br><b>Cumulative Dividends Exceed RMB 20 Billion This Year</b><br><br>In resource acquisition, <b>Zijin Mining</b> has pursued a dual-track strategy of exploration and mergers. The company is actively advancing the closing of its acquisition of control over Chifeng Gold, whose Sepon gold-copper mine in Laos (SND project) added 153 tonnes of gold equivalent metal. It also completed the acquisition of a 72% stake in Gansu Northwest Gold for approximately RMB 2.4 billion, which holds 16 exploration permits with cumulative identified gold resources of 107.4 tonnes. Through court auction and agreement transfer, the company acquired Lianrui Mining, indirectly obtaining a 55% interest in the Kekekarde tungsten-tin mine for about RMB 900 million, lifting consolidated WO3 resources to 320,000 tonnes and positioning the company among China's top-tier tungsten producers.<br><br>On the exploration front, <b>Zijin Mining</b> has intensified its \"prospecting near existing mines\" strategy, with deep-level supplementary exploration at projects including Julong Copper, Zhunuo Copper, Buriticá Gold, Rosebel Gold, and Ruiguoduo Gold yielding significant results.<br><br>In project expansion, the Julong Copper Mine expansion was completed and commissioned in January 2026, adding 300,000–350,000 tonnes of annual mined copper capacity. The Zhunuo Copper Mine is scheduled for commissioning by end-2026, adding 76,000 tonnes of annual capacity. The Manono Lithium Mine achieved heavy media separation commissioning in May 2026, about one month ahead of schedule, with the first phase of the smelting series targeted for commissioning by end-2026. Construction of the Shapinggou molybdenum ore processing project began in June 2026, which will position the company among the world's largest molybdenum producers. The 3Q Salt Lake lithium project, Laguocuo Salt Lake lithium project, and Xiangyuan hard rock lithium mine are steadily ramping up capacity.<br><br>Notably, in shareholder returns, <b>Zijin Mining</b> completed its FY2025 dividend distribution of RMB 10.1 billion in late June 2026, followed by an interim dividend proposal of RMB 11.1 billion on July 10 — RMB 4.2 per 10 shares (pre-tax) — marking the first time cumulative dividends in a single calendar year have exceeded RMB 20 billion. Concurrently, the company unveiled its 2026–2028 shareholder dividend return plan, raising the cumulative cash dividend ratio to 35% of cumulative distributable profits, up from 30%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"601899":"紫金矿业","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","BK1198":"黄金","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","BK0188":"融资融券","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","LU0287142896.SGD":"Fidelity China Focus A-SGD","BK0015":"沪股通50","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU1934453819.USD":"AB CHINA A SHARES EQUITY PORTFOLIO \"A\" (USD) ACC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","SGXZ81163826.USD":"UNITED CHINA A-SHARES INNOVATION \"A\" (USD) ACC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","LU1997244956.HKD":"ALLIANZ CHINA A-SHARES \"AT\" (HKD) ACC A","SGXZ49509284.SGD":"United China A Shares Innovation A Acc SGD","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU2213484517.USD":"FRANKLIN TEMPLETON CHINA A-SHARES \"A\" (USD) ACC","LU1655091459.SGD":"JPM ASIA PACIFIC INCOME \"A\" (SGD) INC A","LU0082770016.USD":"HSBC GIF ASIA EX JAPAN SMALLER CO. \"AD\" INC","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","HK0000181112.HKD":"DA CHENG CHINA BALANCED \"A\" (HKD) INC","LU0210527791.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) ACC","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","BK1592":"有色金属","LU1655091616.SGD":"JPMorgan Funds - China A-Share Opportunities A (acc) SGD","HK0000181138.USD":"DA CHENG CHINA BALANCED \"A\" (USD) INC","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC","LU0117844026.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC","LU0228659784.USD":"施罗德金砖四国基金","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","BK0196":"行业龙头","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0784639295.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC (M)","LU0828238088.HKD":"SCHRODER ISF GLBL EMGNG MKT OPPS \"A\" (HKD) ACC","LU0164939612.USD":"HSBC GIF ASIA EX JAPAN SMALLER CO. \"AC\" ACC","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1255011170.USD":"JPM CHINA A-SHARE OPPORTUNITIES \"A\" (USD) ACC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","BK0127":"黄金珠宝","SGXZ86797644.SGD":"MAYBANK ASIAN GROWTH AND INCOME-I \"A\" (SGDHDG) INC","SGXZ62798434.SGD":"MAYBANK ASIAN GROWTH AND INCOME-I \"A\" (SGDHDG) ACC","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","BK0012":"证金概念","LU0165289439.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AC\" ACC","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","LU2495084118.USD":"ALLIANZ CHINA A-SHARES \"ATH\" (USDHDG) ACC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0620787316.HKD":"HSBC GIF ASIA EX JAPAN EQUITY SMALLER COMPANIES \"AD\" (HKD) INC","LU0106252389.USD":"SCHRODER ISF EMERGING MARKETS \"A\" ACC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0049853897.USD":"SCHRODER ISF EMERGING MARKETS \"A\" (USD) INC AV","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","BK1544":"黄金股","LU0345780281.USD":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","LU2580892789.USD":"FRANKLIN SEALAND CHINA A-SHARES \"A\" (USD) ACC","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU1504937902.USD":"CT (LUX) I ASIAN EQUITY INCOME \"DUP\" (EUR) INC","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU1997245094.SGD":"安联神州A股基金AT Acc SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","BK1505":"一带一路","LU2580892862.HKD":"FRANKLIN SEALAND CHINA A-SHARES \"A\" (HKD) ACC","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU1979443071.USD":"AB CHINA A SHARES EQUITY PORTFOLIO \"AD\" (USDHDG) INC","BK0077":"质押式回购","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU0048580855.USD":"富达大中华区A","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0269904917.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) ACC","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","HK0000252152.HKD":"易方达 (香港) 中国股票股息基金A 类 (累积) 港元","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","BK0242":"有色金属","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","BK1594":"碳中和概念股","HK0000252160.HKD":"易方达 (香港) 中国股票股息基金A 类 (分派) 港元","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","02899":"紫金矿业","HK0000500386.USD":"易方达 (香港) 中国股票股息基金A 类 (累积) 美元","LU0329678337.USD":"FIDELITY EMERGING ASIA \"A\" (USD)","LU0096374516.USD":"CT (LUX) I ASIA EQUITY INCOME \"DU\" (USD) ACC","LU1720050803.USD":"安联全方位中国股票基金","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU2279858448.HKD":"富国中国中小盘成长基金 A1 类（港元）","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU1171460220.USD":"FULLGOAL CHINA SMALL-MID CAP GROWTH \"A1\" (USD) INC","HK0000151867.HKD":"JPMORGAN ASIA EQUITY DIVIDEND (HKD) INC","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","BK0183":"MSCI概念","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","LU1769817096.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (USD) INC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU1769817179.HKD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (HKD) INC","LU0266512473.USD":"JPM GLOBAL NATURAL RESOURCES \"C\" (USD) ACC","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","BK0028":"国家队","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","02259":"紫金黄金国际","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0082770016.SGD":"HSBC GIF ASIA EX JAPAN EQUITY SMALLER COMPANIES \"AD\" (SGD) INC","BK1190":"多种金属与采矿","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0345780521.USD":"NINETY ONE GSF GLOBAL GOLD \"A\" (USD) INC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU0173614495.USD":"富达中国焦点A","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU2289578879.USD":"ALLIANZ CHINA A OPPORTUNITIES \"AT\" (USD) ACC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0886674414.USD":"CT (LUX) I ASIAN EQUITY INCOME \"AUP\" (USD) INC","LU1997245177.USD":"安联神洲A股基金","SETM":"Sprott Critical Materials ETF","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158327261","content_text":"On August 21, Zijin Mining (02899.HK) released its 2026 interim results, reporting first-half revenue of RMB 194.178 billion, up 15.78% year-on-year. Net profit attributable to shareholders surged 68.17% to RMB 39.17 billion, while net cash flow from operating activities climbed 92.41% to RMB 55.472 billion.During the period, the gold business contributed 41.2% of total revenue and 41.7% of group gross profit. The copper segment accounted for 33.8% of gross profit, while the lithium division — dubbed the company's \"third growth engine\" — contributed 2.2% of revenue and 3.4% of gross profit.Gold, Copper, and Lithium All See Volume and Price GainsAccording to the interim report, Zijin Mining's overall gross margin reached 37.75%, up 14 percentage points year-on-year. The gross margin for mined products stood at 69.34%, a rise of 9.11 percentage points, driven by significantly higher metal selling prices and effective management of cash costs per tonne. As of the reporting period end, total assets stood at RMB 541.4 billion, with net assets attributable to shareholders at RMB 205.9 billion. The debt-to-asset ratio fell to 49.55%, dropping below 50% for the first time since 2012, reflecting a more optimized capital structure.The sharp improvement in profitability was underpinned by robust metal prices. In the first half, amid rising global sovereign debt and diversification of central bank reserve assets, gold's value underwent a revaluation, with average international gold prices hitting USD 4,693 per ounce, up 53.0% year-on-year. Zijin Mining produced 46.70 tonnes of mined gold, an increase of 13.4%.Copper, a core \"computing metal,\" benefited from rapid AI development and the electrification wave, with prices reaching record highs and maintaining elevated volatility. The average LME copper price rose 38.5% year-on-year to USD 13,083 per tonne. Zijin Mining produced 534,400 tonnes of mined copper, up 5% excluding the impact of Kamoa. However, due to the flooding incident at the Kamoa-Kakula copper mine and the subsequent ramp-up, the mine's 2026 production guidance was revised down from 380,000–420,000 tonnes to 290,000–330,000 tonnes, putting pressure on the company's full-year mined copper output target.Benefiting from improved lithium fundamentals driven by energy storage demand, lithium prices recovered, with average domestic lithium carbonate prices soaring 132.1% year-on-year to RMB 163,427 per tonne. The lithium segment, as Zijin Mining's \"third growth engine,\" has achieved scale contributions, with lithium carbonate equivalent output reaching 43,600 tonnes, a year-on-year surge of 496%. Additionally, comprehensive utilization of by-products such as molybdenum, tungsten, sulfur concentrate, and sulfuric acid delivered notable benefits, emerging as new profit highlights.Cumulative Dividends Exceed RMB 20 Billion This YearIn resource acquisition, Zijin Mining has pursued a dual-track strategy of exploration and mergers. The company is actively advancing the closing of its acquisition of control over Chifeng Gold, whose Sepon gold-copper mine in Laos (SND project) added 153 tonnes of gold equivalent metal. It also completed the acquisition of a 72% stake in Gansu Northwest Gold for approximately RMB 2.4 billion, which holds 16 exploration permits with cumulative identified gold resources of 107.4 tonnes. Through court auction and agreement transfer, the company acquired Lianrui Mining, indirectly obtaining a 55% interest in the Kekekarde tungsten-tin mine for about RMB 900 million, lifting consolidated WO3 resources to 320,000 tonnes and positioning the company among China's top-tier tungsten producers.On the exploration front, Zijin Mining has intensified its \"prospecting near existing mines\" strategy, with deep-level supplementary exploration at projects including Julong Copper, Zhunuo Copper, Buriticá Gold, Rosebel Gold, and Ruiguoduo Gold yielding significant results.In project expansion, the Julong Copper Mine expansion was completed and commissioned in January 2026, adding 300,000–350,000 tonnes of annual mined copper capacity. The Zhunuo Copper Mine is scheduled for commissioning by end-2026, adding 76,000 tonnes of annual capacity. The Manono Lithium Mine achieved heavy media separation commissioning in May 2026, about one month ahead of schedule, with the first phase of the smelting series targeted for commissioning by end-2026. Construction of the Shapinggou molybdenum ore processing project began in June 2026, which will position the company among the world's largest molybdenum producers. The 3Q Salt Lake lithium project, Laguocuo Salt Lake lithium project, and Xiangyuan hard rock lithium mine are steadily ramping up capacity.Notably, in shareholder returns, Zijin Mining completed its FY2025 dividend distribution of RMB 10.1 billion in late June 2026, followed by an interim dividend proposal of RMB 11.1 billion on July 10 — RMB 4.2 per 10 shares (pre-tax) — marking the first time cumulative dividends in a single calendar year have exceeded RMB 20 billion. Concurrently, the company unveiled its 2026–2028 shareholder dividend return plan, raising the cumulative cash dividend ratio to 35% of cumulative distributable profits, up from 30%.","news_type":1,"symbols_score_info":{"601899":1,"SETM":1,"02259":1,"02899":1}},"isVote":1,"tweetType":1,"viewCount":1,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":29,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}