Financial Performance - Revenue for the nine months ended September 30, 2025, was RMB 450,346,000, representing a 23.4% increase from RMB 364,905,000 in the same period of 2024[4] - Gross profit for the same period was RMB 231,887,000, up 21.0% from RMB 191,610,000 year-over-year[4] - Profit before tax for the nine months was RMB 182,156,000, compared to RMB 172,381,000 in 2024, reflecting a 5.5% increase[4] - Net profit for the period was RMB 117,933,000, slightly down from RMB 117,995,000 in the previous year, indicating a marginal decrease of 0.1%[4] - Basic and diluted earnings per share for the nine months were RMB 4.41, compared to RMB 4.28 in 2024, showing an increase of 3.0%[6] - Revenue for the reporting period was approximately RMB 450,346,000, an increase of approximately 23.4% compared to RMB 364,905,000 in the comparable period, primarily due to an average selling price increase of approximately 34.6% despite an 8.3% decrease in sales volume[19][23] - Net profit for the reporting period was approximately RMB 117,933,000, a slight decrease of about 0.2% compared to RMB 117,995,000 in the comparable period[20] - Basic and diluted earnings per share for ordinary shareholders were approximately RMB 4.41, an increase of about 3.0% compared to RMB 4.28 in the comparable period[21] - Gross profit for the reporting period was approximately RMB 231,887,000, an increase of about 21.0% compared to RMB 191,610,000 in the comparable period, with a gross profit margin of approximately 51.5%, down about 1.0% from the comparable period[25] Assets and Liabilities - Non-current assets as of September 30, 2025, totaled RMB 1,081,553,000, significantly up from RMB 567,571,000 at the end of 2024[7] - Current assets increased to RMB 768,739,000 from RMB 687,391,000, marking an increase of 11.8%[7] - Total liabilities as of September 30, 2025, were RMB 301,363,000, compared to RMB 62,127,000 in 2024, indicating a substantial rise[8] - The company's net assets reached RMB 1,208,594,000, up from RMB 1,053,459,000 in the previous year, reflecting a growth of 14.7%[8] - The group's operating working capital as of September 30, 2025, was approximately RMB 428,404,000, a decrease from approximately RMB 548,015,000 on December 31, 2024, mainly due to an increase in interest-bearing bank loans[32] - As of September 30, 2025, the group had outstanding bank loans of approximately RMB 174,750,000, compared to none on December 31, 2024[33] - The total debt-to-asset ratio as of September 30, 2025, was approximately 14.5%, with cash and cash equivalents exceeding financial liabilities[35] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2025, was RMB 110,602,000, a decrease of 32.3% compared to RMB 163,624,000 for the same period in 2024[9] - Net cash used in investing activities for the nine months ended September 30, 2025, was RMB 89,275,000, an increase of 96.0% from RMB 45,542,000 in 2024[11] - Cash and cash equivalents at the end of the reporting period increased to RMB 661,382,000, up from RMB 601,138,000 at the end of the previous year, representing a growth of 10.0%[11] - The company reported a net cash inflow from financing activities of RMB 1,762,000, a recovery from a net outflow of RMB 105,707,000 in the previous year[11] - As of September 30, 2025, the group's cash and cash equivalents increased to approximately RMB 661,382,000 from RMB 639,599,000 on December 31, 2024, primarily due to net cash generated from operating activities[32] Operational Metrics - The company experienced a decrease in inventory by RMB 2,677,000, contrasting with an increase of RMB 5,028,000 in the same period last year[9] - Trade payables increased by RMB 9,944,000, compared to an increase of RMB 1,707,000 in the previous year, indicating a significant rise in operational liabilities[9] - The total gold production during the reporting period was approximately 641.8 kg (or about 20,633.8 ounces), a decrease of approximately 5.9% compared to the comparable period[18] Expenses and Costs - Administrative expenses increased by approximately 50.9% to about RMB 46,386,000, primarily due to additional legal and professional fees related to the acquisition of Yantai Mijin and increased R&D expenses[27] - Other income and gains decreased by approximately 21.0% to about RMB 12,075,000, mainly due to reduced interest income from cash and cash equivalents[26] - Financing costs increased by approximately RMB 2,929,000 to about RMB 4,949,000, primarily due to increased interest expenses on bank loans[29] - The depreciation of property, plant, and equipment increased to RMB 43,778,000 from RMB 31,673,000, marking a rise of 38.2%[9] Risk Management - The group faced various financial risks, including interest rate risk, credit risk, foreign currency risk, and liquidity risk, and adopted a conservative risk management strategy[36] - As of September 30, 2025, the group had no significant contingent liabilities[44] - The group had a total capital commitment of approximately RMB 81,978,000 related to contract costs as of September 30, 2025, compared to zero on December 31, 2024[43] - The group held approximately RMB 34,751,000 in cash as an environmental restoration guarantee deposit for land developed for mining, in compliance with relevant Chinese laws[42] - The group’s trade receivables balance was zero as of September 30, 2025, indicating a significant reduction in credit risk[39] - The group’s cash and cash equivalents included approximately RMB 106,009,000 in USD and RMB 625,000 in CAD as of September 30, 2025[32] Corporate Governance - The board of directors is composed of executive directors Dr. Shao Xu Xin and Mr. Mackie James Thomas, along with non-executive director Mr. Chen Li Bei and independent non-executive directors Dr. Malaihollo Jeffrey Francis A, Mr. Chen Yi Fen, Dr. Zeng Ming, and Ms. Liu Li[46]
集海资源(02489) - 2025 Q3 - 季度业绩