Zhaojin Mining Industry Company: Revenue and net profit surged year-over-year, with higher equity and improved cash flow

China's gold miners stand to benefit from higher gold prices, HSBC Global Investment Research analysts say in a report. Gold prices could continue rising in the short term and into 1H 2026 due to factors such as geopolitical risks and financial-market turbulence, the analysts say. HSBC raises its average gold forecasts to $3,355/oz from $3,215/oz for 2025, to $3,950/oz from $3,125/oz for 2026 and to $3,600/oz from $2,925/oz for 2027. HSBC also raises target prices of Zijin Mining's H shares to HK$41.80 from HK$37.70, Shandong Gold Mining's A shares to CNY50.00 from CNY36.00 and Zhaojin Mining Industry's H shares to HK$37.10 from HK$23.70. It has buy ratings on all three stocks. (ronnie.harui@wsj.com)

Revenue and net profit surged 50.69% and 144.58% year-over-year, respectively, driven by record gold prices and higher sales volume. The company raised significant capital through bond issuances and share placement, while recognizing a major impairment due to mine closure.

Original document: Zhaojin Mining Industry Co., Ltd. Class H [1818] Interim report — Aug. 24 2025

Revenue grew 50.69% and net profit soared 144.58% year-over-year, driven by higher gold prices and increased sales. Key strategic actions included new share placement, asset acquisitions, and debt refinancing, while gold production and reserves expanded.

Original document: Zhaojin Mining Industry Co., Ltd. Class H [1818] Earnings Release — Aug. 22 2025

Revenue and net profit surged 50.69% and 144.58% year-over-year, respectively, driven by record gold prices and higher sales volume. Major impairment losses were recognized due to mine closure and smelter shutdown, while significant capital was raised through bond issuances and share placement.

Original document: Zhaojin Mining Industry Co., Ltd. Class H [1818] Interim report — Aug. 22 2025

Q1 2025 saw revenue rise to RMB 3.04 billion and net profit attributable to owners jump to RMB 659.2 million, with strong operating cash flow and improved margins year-over-year. Total assets and equity increased, supported by new bond issuance.

Original document: Zhaojin Mining Industry Co., Ltd. Class H [1818] Earnings Release — Apr. 21 2025

Revenue and net profit soared 37% and 121% year-over-year, driven by higher gold prices, increased output, and overseas expansion. Gearing rose slightly, but liquidity remains strong, with major investments in M&A and capital markets.

Original document: Zhaojin Mining Industry Co., Ltd. Class H [1818] Earnings Release — Mar. 21 2025