Revenue reached RMB 230.4 billion, with a net profit attributable to the parent company of RMB 24.4 billion from Q1 to Q3 2024, reflecting a 51% increase year-over-year.
Gold output totaled 54 tonnes, copper 790,000 tonnes, and zinc 310,000 tonnes, with increases of 8% in gold and 5% in copper.
During this period, Zijin Mining leveraged technological innovation and value chain synergies to boost endogenous growth through an effective, holistic management system. Benefiting from high metal prices, the company markedly enhanced profitability and cost management. Notable financial metrics such as total profit, net profit attributable to the parent company, operating cash flow, and earnings per share all surged by over 40%. The debt ratio saw a decline of 4.28 percentage points from the beginning of the year, indicating ongoing improvements in capital structure. Mining operations posted a gross profit margin of 57.7%, up 7.4 percentage points year-over-year, while the overall gross margin reached 19.5%, an increase of 4.4 percentage points.
Driven by favorable market conditions, Zijin Mining has expedited the conversion of resource advantages into operational benefits. Key projects such as the Sawaya’erdun Gold Mine in Xinjiang went into production, elevating the outputs of Zijin’s main commodities.
According to Bloomberg’s October report, “China's Fast-Growing Copper Champion is Reshaping Global Metal Supply,” “…Zijin is emblematic of a coterie of Chinese companies — both private and state-owned — changing the global metals landscape by generating a wave of mine supply, outpacing others with innovation and billions of dollars of investment...”
Goldman Sachs analysts Joy Zhang, Trina Chen, Jolin Liu, and Fiona Ye noted in their report in the same month that Zijin Mining represents the resilience of Chinese producers – its competitive moat will drive further growth over the next decade, maintaining its resilience through market cycles.
Translator:Lin Xinjing Reviser: Jian Editor-in-Chief: Wang Jie
À propos de Zijin Mining
Zijin Mining est une entreprise mondiale leader dans le secteur des métaux et de l'exploitation minière, et l'un des plus grands producteurs mondiaux d'or, de cuivre et de zinc. La société compte plus de 30 sites miniers et projets d'envergure répartis dans 19 pays sur 5 continents. Grâce à ses solides capacités internes en matière de recherche, d'ingénierie et de développement, Zijin maintient une efficacité opérationnelle élevée à moindre coût, tant pour les acquisitions que pour les opérations. Cette approche lui permet de se positionner en tant que leader de la création de valeur, guidée par une philosophie de développement pour tous et soutenue par des performances exemplaires en matière d'environnement, de responsabilité sociale et de gouvernance. Les actions de Zijin sont cotées à la Bourse de Hong Kong (HKEX : 2899) et à la Bourse de Shanghai (SSE : 601899).