Zijin Mining's net profit exceeded 50 billion for the first time, ushering in a cyclical test in the "post-Chen Jinghe era".

Recently, Zijin Mining released its annual report for 2025, achieving a net profit of over 50 billion yuan for the first time by synchronously increasing the prices and production of its main products such as gold and silver. The annual report shows that Zijin Mining achieved operating income of 349.08 billion yuan in 2025, an increase of nearly 15% year-on-year, and a net profit of 51.8 billion yuan attributable to the mother, an increase of 61.55% year-on-year. Behind the impressive performance is the effect of rising prices and production of major metals such as gold, silver, and copper in the "comprehensive bull market" of 2025. The company plans to distribute a cash dividend of 3.8 yuan per 10 shares, in addition to the already implemented 5.85 billion yuan interim dividend, bringing the total annual cash dividends to 15.9 billion yuan, reaching a new high since its listing. However, just before the release of the annual report, the gold market experienced severe volatility as the hawkish signals from the Federal Reserve combined with the ongoing conflict between the US and Iran caused gold and silver prices to plummet back to the levels at the beginning of the year overnight. Commodities have always been subject to severe fluctuations, posing a real challenge for mining companies. 2026 will be the first complete fiscal year for Zijin Mining after founder Chan Jinghe hands over the baton, and the new management team will face different challenges than before.