驰宏锌锗：上半年营业收入与净利润同向增长，资源增储与绿色转型双线发力

Core Viewpoint - Yunnan Chihong Zinc & Germanium Co., Ltd. reported a revenue of 10.581 billion yuan for the first half of 2025, marking a year-on-year increase of 7.67%, with a net profit attributable to shareholders of 932 million yuan, up 3.27% [1] Group 1: Financial Performance - The company achieved a net profit of 919 million yuan after deducting non-recurring items, reflecting a year-on-year growth of 12.11% [1] - The net cash flow from operating activities reached 2.158 billion yuan, showing a significant increase of 34.73% [1] Group 2: Resource Strategy - The company advanced 16 resource exploration projects in the first half of the year, adding 280,000 tons of lead and zinc resources, with total reserves of 1.881 million tons of lead and 3.771 million tons of zinc by the end of the reporting period [2] - The company maintained a leading position in the industry with a stable cost of lead and zinc concentrate production, achieving a six-year consecutive reduction [2] Group 3: Project Development - The construction of the Hulunbuir Chihong Precious Metals Comprehensive Recovery and Smelting Project has been completed, and the lead-zinc smelting efficiency enhancement project has commenced, which will add 100,000 tons per year of lead-zinc smelting capacity upon completion [2] Group 4: Innovation and Sustainability - The company has authorized 106 new patents, including 12 invention patents, and has achieved external licensing of its independent patents for the first time [2] - The company has established four national-level green mines and four national-level green factories, achieving a 100% completion rate for green mines and a 66.67% completion rate for green factories [2] Group 5: Future Outlook - The company aims to focus on high-quality collaborative development across the entire lead-zinc-germanium industry chain, benchmarking against world-class standards, and will continue to deepen its industry chain layout [3] - The company plans to accelerate resource integration and technological upgrades, enhancing its competitiveness through innovation-driven initiatives [3]