Sinomine Resource Group (002738) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥5.36 billion, down 10.80% year-over-year; net profit attributable to shareholders was ¥757 million, down 65.72% year-over-year.

• Gross margin for the year was 37.02%, with a significant shift in revenue mix toward rare light metals (cesium, rubidium) and away from lithium new energy materials.

• Major investments included the acquisition of a 65% stake in Zambia's Kitumba copper mine and 98% of Namibia's Tsumeb Smelter, expanding the company's multi-metal resource base.

• The company completed a significant share buyback and cancellation, reducing total shares outstanding.

Financial highlights

• Operating income: ¥5.36 billion, down 10.80% year-over-year.

• Net profit attributable to shareholders: ¥757 million, down 65.72% year-over-year.

• Operating cash flow: ¥500 million, down 83.34% year-over-year.

• Basic EPS: ¥1.05, down 66.68% year-over-year.

• Total assets at year-end: ¥17.19 billion, up 8.23% from prior year.

• Net assets attributable to shareholders: ¥12.18 billion, up 0.03% from prior year.

Outlook and guidance

• Plans to deepen core business in lithium new energy and rare metals, while accelerating international expansion and multi-metal resource integration.

• Strategic goals include maintaining industry-leading lithium salt costs, expanding African lithium and copper production, and developing Tsumeb Smelter as a regional multi-metal recycling center.

• 2025 guidance includes continued cost control, resource acquisition, and further internationalization.