JCHX Mining Management (603979) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of ¥9.94 billion, up 34.37% year-over-year; net profit attributable to shareholders reached ¥1.58 billion, up 53.59% year-over-year, both at historical highs. Overseas revenue accounted for 70.78% of total revenue.

• Mining services segment remained stable, with revenue of ¥6.54 billion, representing 65.82% of total revenue. Resource development segment revenue surged 412.85% to ¥3.21 billion, now 32.28% of total revenue.

• Major acquisitions included 80% of Lubambe Copper Mine and 51% of Terra Mining, expanding global resource footprint.

Financial highlights

• Revenue: ¥9.94 billion, up 34.37% year-over-year; net profit attributable to shareholders: ¥1.58 billion, up 53.59%.

• Operating cash flow: ¥2.05 billion, up 89.24% year-over-year.

• Basic EPS: ¥2.57, up 50.29%; diluted EPS: ¥2.43, up 50.93%.

• Gross margin: 31.51%, up 1.17 percentage points; main business gross margin: 31.85%.

• Net assets: ¥8.98 billion, up 24.47%; total assets: ¥16.98 billion, up 24.63%.

Outlook and guidance

• 2025 targets: mining services—4,417.29 million tons mined, 3.87 million m³ tunneling; resource development—79,400 tons copper, 300,000 tons phosphate rock.

• Focus on ramping up Lubambe and Lonshi copper mines, further integration of auxiliary business units, and digital/ESG initiatives.