Jiangxi Copper Company Limited released its unaudited first-quarter 2026 results, highlighting a strong start to the year driven by firmer commodity prices and tighter operational management.

Revenue and Profitability • Revenue rose 25.39% year-on-year to RMB 139.12 billion. • Total profit advanced 64.86% to RMB 4.03 billion. • Net profit attributable to shareholders increased 44.31% to RMB 2.82 billion, equivalent to basic earnings per share of RMB 0.82. • Excluding non-recurring items, net profit reached RMB 3.13 billion, up 26.30%.

Cash Flow and Balance Sheet • Net cash flows from operating activities surged to RMB 5.51 billion, versus RMB 0.56 billion in the prior-year quarter, an 888.28% increase. • Total assets expanded 18.85% from year-end 2025 to RMB 259.92 billion, driven by higher cash (RMB 54.76 billion) and construction-in-progress. • Equity attributable to shareholders grew 3.49% to RMB 84.11 billion. • Short-term borrowings rose to RMB 83.59 billion, while long-term borrowings more than doubled to RMB 14.79 billion, lifting total liabilities to RMB 162.37 billion.

Income Statement Highlights • Operating costs grew 24.55% to RMB 132.07 billion, broadly in line with revenue growth, preserving margins. • Finance expenses amounted to RMB 0.47 billion. • Investment income recorded a loss of RMB 1.82 billion, offset by a RMB 2.30 billion gain from fair-value changes in financial instruments. • Non-recurring items produced a net loss of RMB 0.31 billion, mainly from fair-value movements in financial assets and liabilities.

Key Drivers Management cited enhanced resource-utilisation efficiency and higher average selling prices for copper, gold, and silver as principal contributors to the profit uplift.

Shareholder Structure As of 31 March 2026, Jiangxi Copper Corporation Limited remained the largest shareholder with a 45.72% stake, including 169 million A-shares pledged to secure exchangeable bonds issued in April 2026.

Outlook The company emphasised continued adherence to hedging policies focused on price-risk mitigation and noted that all accounting treatments comply with PRC Accounting Standards.