Zijin Mining(SH:601899) Shang Hai Zheng Quan Bao·2025-10-17 15:27Core Viewpoint - Zijin Mining's Q3 2025 financial results exceeded market expectations, with a net profit of 37.864 billion yuan for the first three quarters, a year-on-year increase of 55.45%, significantly surpassing last year's total [2][3] Financial Performance - For the first three quarters of 2025, Zijin Mining achieved an operating income of 254.2 billion yuan, a year-on-year increase of 10.33% [3] - The gross profit margin for mining enterprises was 60.62%, up 2.91 percentage points year-on-year, while the comprehensive gross profit margin was 24.93%, an increase of 5.40 percentage points [3] - In Q3 alone, the company reported an operating income of 86.489 billion yuan and a net profit of 14.572 billion yuan, reflecting a year-on-year increase of 57.14% and a quarter-on-quarter growth of over 10% [3] Production and Sales - Zijin Mining's gold production reached 65 tons from January to September, a year-on-year increase of 20%, significantly outpacing the industry average [3] - The average selling price of gold concentrate was 685.21 yuan per gram, up 41% year-on-year, while the average selling price of gold ingots was 746.43 yuan per gram, up 44% year-on-year [3] - Copper production for the first three quarters was 830,000 tons, a year-on-year increase of 5% [4] New Projects and Investments - Zijin Mining announced an internal project for the Shapinggou molybdenum mine with an estimated total investment of approximately 7.206 billion yuan, targeting an annual production capacity of 10 million tons [5] - The Shapinggou molybdenum mine has a metal resource of 2.1 million tons, with a design annual production capacity of 22,100 tons of molybdenum [5][6] Strategic Outlook - The development of the Shapinggou molybdenum mine aligns with the company's strategic planning, positioning it to become one of the largest molybdenum producers globally [6]