Western Mining ( 601168) Q2 2025 earnings summary

Executive summary

• Revenue reached RMB 31.62 billion, up 27% year-over-year; net profit attributable to shareholders was RMB 1.87 billion, up 15%.

• Operating cash flow remained stable at RMB 5.01 billion; total assets at period end were RMB 54.59 billion.

• Significant production increases in copper, zinc, lead, and molybdenum; major project expansions underway.

• Enhanced ESG ratings and received multiple investor relations awards.

Financial highlights

• Operating income: RMB 31.62 billion, up 27% year-over-year.

• Net profit attributable to shareholders: RMB 1.87 billion, up 15% year-over-year.

• Basic EPS: RMB 0.78, up 15% year-over-year; ROE: 11.10%, up 0.65 percentage points.

• Operating cash flow: RMB 5.01 billion, nearly flat year-over-year.

• Net assets attributable to shareholders: RMB 16.60 billion, down 3% from year-end.

Outlook and guidance

• Focus on expanding production capacity and digital transformation in mining and smelting.

• Ongoing major project construction, including expansion of Yulong Copper Mine and upgrades at key iron mines.

• Continued emphasis on green manufacturing, safety, and ESG improvements.