Tongling Nonferrous Metals Group (000630) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥45.81 billion, up 31.65% year-over-year, while net profit attributable to shareholders fell 39.92% to ¥329.60 million for the quarter and dropped 35.14% to ¥1.77 billion for the first nine months.

• Operating cash flow for Q3 was ¥1.18 billion, down 67.88% year-over-year, mainly due to increased inventory levels.

• All convertible bonds (铜陵定02) were fully converted to shares and delisted, with no outstanding bonds as of Q3 end.

Financial highlights

• Year-to-date revenue rose 14.66% to ¥121.89 billion, but net profit attributable to shareholders declined 35.14% to ¥1.77 billion.

• Gross margin compressed as operating costs increased faster than revenue.

• Basic and diluted EPS for the first nine months were ¥0.14, down from ¥0.22 and ¥0.21, respectively, year-over-year.

• Total assets at Q3 end were ¥91.90 billion, up 13.54% from year-end 2024.

Outlook and guidance

• Management did not provide explicit forward-looking guidance but noted that the bankruptcy liquidation of a subsidiary (仙人桥矿业) will not materially impact annual results.