Zangge Mining Company: Q3 net profit surged 66.49% year-over-year, driven by strong potassium chloride performance

Revenue declined 4.7% year-over-year to ¥1.68 billion, but net profit surged 38.9% to ¥1.80 billion, with improved gross margin and a proposed large cash dividend. Lithium operations were temporarily suspended in July 2025 for regulatory reasons.

Original document: Zangge Mining Company Limited Class A [000408] Interim report — Aug. 2 2025

Zangge Mining subsidiary Zangge Lithium received an order from Haixi Prefecture authorities to immediately stop lithium mining due to permit irregularities.

The company said it suspended production and is working to obtain proper approvals before reapplying for resumption, according to a Thursday filing with the Shenzhen bourse.

Shares of the miner closed 1% higher Thursday.

Zangge Mining controlled entity Mamicuo Mining has received a construction permit for a lithium-boron extraction project at the Mamicuo Salt Lake in Gêrzê County, Tibet.

Construction at the 106,888-square-meter project is set from July 2025 to October 2026, according to a Friday filing with the Shenzhen bourse.

Shares of the miner were down 1% in recent trade.

Chinese stocks gained for the second consecutive day this week on optimism following US President Donald Trump's announcement of a ceasefire between Israel and Iran.

The Shanghai Composite Index, the main gauge of Chinese stocks, gained 1.2% or by 38.98 points to 3,420.57. The Shenzhen Component Index increased 1.7% or by 169.24 points to 10,217.63.

Shanghai stocks closed at their highest within one month, up 2.2%.

The ceasefire Trump announced on Truth Social could end a 12-day war "on the assumption that everything works as it should."

A decline in tensions in the Middle East could indicate a new round of buying opportunities, Reuters reported Tuesday, citing analysts at Bank of China (International) Securities.

In the corporate front, Zangge Mining closed 3% higher after the Tibetan government approved its 4.54-billion-yuan Mami Co Salt Lake lithium-boron mining project in the autonomous region.

Zangge Mining said its Mami Co Salt Lake lithium-boron mining project in Tibet has received formal approval from the autonomous region's development and reform commission.

The project, with an estimated investment of 4.54 billion yuan, targets annual production of 50,000 tons of battery-grade lithium carbonate and 17,000 tons of borax, according to a Tuesday filing with the Shenzhen bourse.

The approval is valid two years from June 23, with extension allowed once for up to one year.

Shares of the miner rose 3% in recent trade.