Zhaojin Mining announces soaring profits, boosted by gold prices

Zhaojin Mining Industry (HKEX:1818) has announced its annual results for the year ended December 31, 2024, revealing a substantial increase in both revenue and profitability. The company's net profit soared by 120.81% to RMB 1.85 billion, compared to RMB 838.42 million in the previous year. Revenue also saw a significant rise of 37.12%, reaching RMB 11.55 billion, up from RMB 8.42 billion in 2023. The company attributes this strong performance to increased gold prices and a higher sales volume. Basic and diluted earnings per share both reached RMB 0.35, a 150% increase year-over-year. The board has proposed a cash dividend of RMB 0.05 per share.