The recent powerful surge of Zijin Mining Group Company Limited (ASX: 601899) has ignited enthusiasm among its 1.25 million shareholders, with the company's market capitalization skyrocketing by nearly 200 billion yuan in just over ten trading days. As of the latest update, the company's A-shares rose 3.98% to 33.48 yuan, with its H-shares also climbing higher. Since July, its A-shares have accumulated gains exceeding 33%, while H-shares have risen over 27%, demonstrating a remarkably strong upward momentum.
The core driver behind this share price surge stems from the company's strongest-ever first-half performance forecast. On July 9th, Zijin Mining disclosed an earnings preview, projecting that its net profit attributable to shareholders for the first half of 2026 would reach 39.1 billion yuan, representing a substantial 68% year-on-year increase. Its adjusted net profit is forecast to soar 75% year-on-year. The second quarter maintained steady growth, with adjusted net profit reaching 19.4 billion yuan, achieving a 5% sequential increase and setting a new high for profitability.
The company's production capacity has been fully released, with significant growth in gold and silver output in the first half, while copper production remained stable. More critically, the lithium business has officially become the third major growth driver, generating revenue at scale. Furthermore, influenced by the continuous rise in international gold prices, the gross profit from the gold business has surpassed that of the copper business for the first time, becoming the company's primary profit pillar. This development solidifies a synergistic multi-mineral development model.
Several leading brokerages are optimistic about the stock's future performance. Analysts point out that high demand in the lithium sector, combined with booming needs from new energy and energy storage, will lead to a revaluation of the company's lithium business. Other analysis suggests that factors such as geopolitical tensions and central bank gold purchases support higher gold prices, highlighting the long-term value of the resource sector.