Reports have surfaced that Zijin Mining Group made three text errors in its latest half-year report, causing concern among investors and market watchers.

The first error involves a local government agency's name, where "墨竹工卡县人民币政府" appeared instead of the correct "墨竹工卡县人民政府," substituting "人民" (people) with "人民币" (RMB). A second issue appears in the financial institution listing, as "青海西宁农村商业银行股份有限公司" was incorrectly stated as "青海西宁农村商业股份有限公司," omitting "银行" (bank). Most notably, the company also misspelled an enterprise name as "江苏藏青新熊源高业发展基金合伙企业" instead of the proper "江苏藏青新能源产业发展基金合伙企业," revealing both a character mix-up and a typographical error.

Investigation indicates these mistakes date back as far as the 2020 annual report, highlighting a recurring issue.

Where to focus

Public records show that from 2020 to 2024, Zijin Mining's annual report auditor was Ernst & Young Hua Ming LLP, which received an annual audit fee of 11.35 million yuan. Starting in 2025, the company switched to Deloitte Touche Tohmatsu Hua Yong LLP, with an annual audit fee of 9.98 million yuan. In response to inquiries from the media about the recurring text errors, both audit firms have not yet provided a response as of press time.

Why the repeated errors matter

The errors are not just cosmetic—they raise broader concerns about internal controls and attention to detail in financial reporting.

Market impact

At the end of January this year, Zijin Mining's share price reached an all-time high, then declined to a low of 24.12 yuan in subsequent months. Currently, the stock trades at 33.35 yuan, still down 23.75% from its yearly peak.