Wanguo Gold Group sees profit double, revenue jump in first half

Wanguo Gold Group Limited reported a substantial 100.9% increase in profit after taxation, reaching 665.3 million yuan for the six months ended June 30, 2025, up from 331.2 million yuan in the corresponding period of 2024. Revenue surged by 33.7% to 1,240.3 million yuan, primarily due to increased sales from the Gold Ridge Mine. Gross profit also saw a significant rise of 79.4% to 867.9 million yuan, with the gross profit margin expanding to 70.0% from 52.2%.

The Gold Ridge Mine was a key contributor, with gold doré sales increasing by 42.9% to 1,022 kg and gold concentrates by 13.1% to 25,170 tonnes. Overall ore mined at Gold Ridge Mine saw a massive 346.6% increase to 1,975,870 tonnes. The Xinzhuang Mine experienced a decrease in ore mined and processed due to a temporary suspension for technical transformation, but its copper-iron processing plant achieved 800,000 tpa capacity.

The group's net cash generated from operating activities more than doubled to 438.2 million yuan. Capital expenditure for the period was 174.2 million yuan, mainly for mining equipment and Gold Ridge Mine structures. The gearing ratio decreased to 4.2% from 7.7%, reflecting improved financial health.