Xinjiang Xinxin Mining sees profit halve despite revenue growth in H1

Xinjiang Xinxin Mining Industry Co., Ltd. reported consolidated revenue of 1,117.9 million yuan for the six months ended June 30, 2025, a 4.9% increase from 1,065.4 million yuan in the same period last year. However, net profit attributable to shareholders decreased by 50.2% to 71.6 million yuan, down from 144.0 million yuan in the first half of 2024. Basic earnings per share fell to 0.032 yuan from 0.065 yuan.

The decline in net profit was primarily attributed to a 10.9% decrease in the average selling price of nickel cathode (tax exclusive) to approximately 110,688 yuan per tonne, and increased production costs due to the partial use of externally purchased nickel concentrate. Total assets grew by 2.2% to 9,880.7 million yuan as of June 30, 2025.

The group's strategy for the second half of 2025 includes increasing production to 12,000 tonnes of nickel cathode and 9,900 tonnes of copper cathode, alongside enhancing marketing strategies to adapt to market uncertainties. No interim dividend is recommended for 2025.