JCHX(SH:603979) Chang Jiang Shang Bao·2025-08-27 23:50Core Viewpoint - Jin Chengxin (603979.SH) reported significant growth in operating performance for the first half of 2025, with revenue exceeding 6.3 billion yuan and net profit surpassing 1.1 billion yuan, marking historical highs driven by increased production and sales prices in mining resource development [1][2]. Financial Performance - In the first half of 2025, Jin Chengxin achieved operating revenue of 6.316 billion yuan, a year-on-year increase of 47.82%, and a net profit attributable to shareholders of 1.111 billion yuan, up 81.29% [2]. - The company's gross profit margin rose to 34.37%, an increase of 3.82 percentage points compared to the previous year, while the net profit margin reached 17.43%, up 2.98 percentage points [3]. - Operating cash flow net amount was 1.726 billion yuan, reflecting a substantial year-on-year growth of 255.08% [6]. Business Segments - Jin Chengxin's revenue from mining services and resource development for the first half of 2025 was 3.322 billion yuan and 2.912 billion yuan, respectively, with the latter showing a remarkable year-on-year growth of 276.83% [3]. - The decline in gross profit from mining services was attributed to the acquisition of Lubambe Copper Mine and the integration of Terra Mining, which affected revenue and profit margins [3]. Market Presence - The company has a strong international presence, with 78.61% of its revenue coming from overseas markets, amounting to 4.965 billion yuan [6]. - Jin Chengxin has been actively expanding its global footprint, particularly in Africa and Eurasia, with significant projects in Zambia and the Democratic Republic of the Congo [5]. Growth Trajectory - Since 2017, Jin Chengxin has consistently achieved double-digit growth in both revenue and net profit, indicating a robust growth trajectory [6]. - As of June 2025, the company's total assets reached 18.414 billion yuan, nearly doubling from 8.684 billion yuan at the end of 2021, while maintaining a stable financial operation with a debt ratio of 45.88% [6].