金徽股份: 金徽股份2025年半年度报告

Core Viewpoint - Jinhui Mining Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by higher sales of zinc and lead concentrates, despite challenges in the market [2][3][4]. Company Overview and Financial Indicators - The company, Jinhui Mining Co., Ltd., operates in the non-ferrous metal mining and processing industry, primarily producing zinc and lead concentrates [3]. - As of June 30, 2025, the company reported an unallocated profit of RMB 419,310,754.97, with a proposed cash dividend of RMB 2.00 per 10 shares, totaling RMB 195,600,000.00 [2][3]. - Key financial metrics for the first half of 2025 include: - Revenue: RMB 791,609,650.96, a 10.50% increase from the previous year - Total profit: RMB 293,191,476.61, a 22.81% increase - Net profit attributable to shareholders: RMB 253,123,196.86, a 19.62% increase [2][3][4]. Industry and Main Business Situation - The industry faced a 13.07% decline in zinc prices due to a shift in supply-demand dynamics, with a recovery in smelting profits and increased refined zinc supply [4][5]. - The company's main business includes exploration, mining, processing, and sales of lead, zinc, and silver resources, with a production capacity of 178,000 tons per year [4][5]. Operational Performance - The company achieved a revenue of RMB 79,160.97 million, a 10.50% increase year-on-year, and a net profit of RMB 25,143.47 million, a 20.54% increase [4][5]. - Production volumes for key products included: - Zinc concentrate: 33,361.58 tons produced - Lead concentrate (including silver): 10,819.24 tons produced [4][5]. Major Developments - The company is advancing the construction of the Xielong flotation plant, with significant progress in various stages of construction expected to be operational by the end of 2025 [4][5]. - The company has also acquired a 49% stake in Haosen Mining, enhancing its asset portfolio [4][5]. Competitive Advantages - The company emphasizes green development, having received multiple awards for its environmental practices and sustainable mining operations [6][7]. - It possesses rich lead and zinc resource reserves, supported by a strong geological exploration team and advanced mining technologies [6][7]. Financial Status and Investment Activities - The company reported a total asset value of RMB 7,490,603,026.37, with a net asset value of RMB 3,488,807,854.39 as of June 30, 2025 [2][3]. - The company has increased its investment in geological exploration and project construction, indicating a commitment to future growth [4][5].