Mineral exploration and production company Zhihui Mining rocketed 115% in Hong Kong’s grey market trading.

Founded in 2013, Zhihui Mining is a mineral exploration and production company focused on zinc, lead, and copper mining, processing, and sales in Tibet, China. Based on data from Shanghai Metals Market, the company ranked fifth in zinc concentrate production, fourth in lead concentrate, and fifth in copper concentrate in Tibet for 2024. That year, it accounted for 11.1% of Tibet's total zinc concentrate output, 4.2% of lead concentrate, and 0.1% of copper concentrate.

Tibet's lead and copper concentrate production is dominated by major players. In 2024, the top two companies held 36.1% and 31.6% of the lead concentrate market share, while the top two copper concentrate producers accounted for 44.2% and 42.3%, respectively.

Zhihui Mining operates in the Jiali County, Nagqu City, Tibet, within the state-designated Jinda exploration zone at altitudes between 5,000.0 and 5,300.0 meters. The company holds exploration rights covering approximately 58.5 square kilometers and mining rights spanning 4.5 square kilometers.

Its Mengya'a mine includes an open-pit operation in commercial production since 2007 and an underground mine that commenced operations in Q2 2025.

The company’s integrated business chain covers exploration, mining, concentrate production, and sales. Its primary products—zinc, lead, and copper concentrates—are sold to domestic clients, including non-ferrous metal traders and refineries. Traders typically resell the concentrates to end-users, while refineries further process them based on customer requirements. Downstream refinery clients are spread across China, many of which are listed companies or state-owned enterprises.

Financially, Zhihui Mining reported revenues of RMB 482 million, RMB 546 million, RMB 301 million, and RMB 257 million for 2022, 2023, 2024, and the first seven months of 2025, respectively. Net profits attributable to shareholders during the same periods were RMB 118 million, RMB 155 million, RMB 55.854 million, and RMB 51.737 million.