Zijin Mining (601899.SH) announced 2024 annual results, with net profit of 32,051 billion yuan, an increase of 51.76% over the previous year

Zhitong Finance App News, Zijin Mining (601899.SH) released its 2024 annual report. The company's 2024 revenue was 303.64 billion yuan, up 3.49% year on year; net profit attributable to shareholders of listed companies was 32,051 billion yuan, up 51.76% year on year; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 31,693 billion yuan, up 46.61% year on year; basic earnings per share were 1.21 yuan/share. It is proposed to distribute a cash dividend of 2.8 yuan (tax included) for every 10 shares.

The company is the only mining enterprise in Asia and China that produces more than one million tons of copper, ranking in the top four in the world. The company is one of the largest copper companies in the world with the largest increase in mineral copper production. Over the past 5 years, mineral copper production has maintained a compound annual growth rate of 24%. During the reporting period, the company's mines produced 1,068,455 tons of copper, up 6.07% year on year (same period last year: 1,007,290 tons). According to data from the China Nonferrous Metals Industry Association, in 2024, China will produce 1.643,000 tons of copper, and the company's mine production of copper is equivalent to 65% of China's total. The company's gold resources and production rank among the leading listed mining companies in China and the top six in the world. The compound annual growth in mineral gold production has reached 12% in the past 5 years. During the reporting period, the company's mines produced 72,938 kg (2,345,003 oz) of gold, up 7.70% year on year (same period last year: 67,726 kg). According to data from the China Gold Association, in 2024, China achieved 298.4 tons of mining gold, and the company's mine gold production is equivalent to 24% of China's total.

The company is the number one mineral zinc producer in China and the fourth largest in the world, and has a comparative advantage in the development and profit of low-grade zinc (lead) ore. During the reporting period, the company's mine zinc concentrate contained 407,077 tons of zinc, a year-on-year decrease of 3.5% (same period last year: 421,852 tons). The company leads China in mineral silver production and is an important producer of iron concentrate, molybdenum, cobalt ore and by-product sulfuric acid in China. During the reporting period, the mine produced 435,804 kg of silver, up 5.78% year on year (same period last year: 411,993 kg). Produced 1.99 million tons of iron concentrate, a year-on-year decrease of 17.70% (same period last year: 2.42 million tons). The mine produced 9,273 tons of molybdenum, 3,672 tons of tungsten, and 864 tons of cobalt.