Xinjiang Xinxin Mining Industry Co., Ltd. (Xinxin Mining) reported unaudited interim results for the six months ended 30 June 2026.
Revenue rose 13.20 % year-on-year to RMB 1.27 billion, driven by higher realised prices for key products. Net profit attributable to shareholders jumped 248.10 % to RMB 249.40 million, while basic earnings per share grew to RMB 0.11 from RMB 0.03 in the prior-year period.
Price Momentum • Average selling price of nickel cathode increased 11.90 % to RMB 123,862 per tonne. • Average selling price of copper cathode advanced 31.20 % to RMB 90,822 per tonne. • Sulphuric acid prices almost tripled, supporting other-product revenue.
Production & Sales • Nickel cathode output fell 7.30 % to 5,590 tonnes; sales volume slipped 4.00 % to 5,446 tonnes. • Copper cathode output rose 23.40 % to 4,708 tonnes, but sales volume declined 5.70 % to 4,298 tonnes.
Margins Cost of sales decreased 8.18 % to RMB 811.20 million, lifting gross profit margin to 37.20 % from 21.00 %. Unit production cost of nickel cathode edged up 2.20 %, while copper cathode unit cost dropped 10.70 %.
Cash & Liquidity • Operating cash inflow: RMB 47.10 million (-75.68 % YoY). • Net cash inflow from financing: RMB 71.20 million. • Cash and cash equivalents: RMB 475.14 million; total borrowings: RMB 2.21 billion; net gearing: 21.51 %.
Capital Expenditure First-half capex totalled RMB 274.90 million, led by Huaou Mining’s fluorite project (46.90 % of total). Planned second-half 2026 capex exceeds RMB 600 million, focused on mine expansion, refinery upgrades and Huaou Mining start-up.
Resource Base As at 30 June 2026, the company reported 432,138 tonnes of copper and 426,502 tonnes of nickel resources, plus 242,315 tonnes of V₂O₅ and 20.39 million tonnes of CaF₂ resources.
Outlook Management targets full-year 2026 output of 13,000 tonnes nickel cathode, 9,762 tonnes copper cathode and 122,804 tonnes fluorite concentrate, subject to market conditions.
Dividend The board did not declare an interim dividend.
Post-balance-sheet Event In July 2026, subsidiary Kalatongke Mining paid RMB 29.95 million in back taxes and surcharges related to prior-year deductions; accounting recognition will occur in July 2026.