Jiangxi Copper Company (358) Q4 2025 earnings summary

Executive summary

• Revenue reached RMB544.62 billion in 2025, up 5.42% year-over-year; net profit attributable to shareholders was RMB7.13 billion, up 2.41% year-over-year.

• Total assets increased 13.24% to RMB218.69 billion; net assets attributable to shareholders rose 4.27% to RMB81.28 billion.

• Final dividend of RMB0.60 per share (tax inclusive) proposed, totaling RMB2.07 billion, or 29.05% of net profit.

• Major acquisition: completed 100% acquisition of SolGold PLC, expanding global resource reserves.

Financial highlights

• Gross profit for 2025 was RMB22.20 billion under IFRS, up from RMB15.97 billion in 2024.

• Basic earnings per share was RMB2.07 (PRC GAAP) and RMB2.14 (IFRS), both up from prior year.

• Net cash flow from operating activities was negative RMB6.91 billion, down from positive RMB2.43 billion in 2024, mainly due to increased inventory costs.

• R&D investment reached RMB5.73 billion, representing 1.05% of revenue.

Outlook and guidance

• 2026 production targets: 200,000 tonnes copper concentrate, 2.39 million tonnes copper cathode, 119 tonnes gold, 1,413 tonnes silver, 6.51 million tonnes sulphuric acid, 2.07 million tonnes copper processing materials.

• Annual investment plan for 2026 set at RMB26.58 billion.

• Strategic focus on optimizing industrial structure, expanding global resource layout, and advancing technological innovation.