Financials Zijin Mining Group Company Limited

Equities

2899

CNE100000502

Gold

Market Closed - Hong Kong S.E. Other stock markets 01:38:22 14/07/2025 pm IST			5-day change	1st Jan Change
20.45 ^HKD	+2.25%		+0.49%	+44.63%

07:42am	Zijin Mining's H1 Attributable Profit to Grow 54%	MT
01/07	Zijin Mining Unit Files for Hong Kong IPO	MT

Projected Income Statement: Zijin Mining Group Company Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,71,501	2,25,102	2,70,329	2,93,403	3,03,640	3,59,855	3,78,627	3,84,636
Change	-	31.25%	20.09%	8.54%	3.49%	18.51%	5.22%	1.59%
EBITDA ¹	18,609	33,207	40,989	45,109	59,202	73,133	81,973	89,949
Change	-	78.44%	23.44%	10.05%	31.24%	23.53%	12.09%	9.73%
EBIT ¹	11,240	25,087	30,946	31,937	48,827	61,659	69,453	76,077
Change	-	123.19%	23.36%	3.2%	52.89%	26.28%	12.64%	9.54%
Interest Paid ¹	-1,784	-1,496	-1,905	-3,268	-2,029	-2,580	-2,823	-2,387
Earnings before Tax (EBT) ¹	10,846	24,794	29,993	31,287	48,078	62,751	71,124	78,923
Change	-	128.6%	20.97%	4.32%	53.66%	30.52%	13.34%	10.97%
Net income ¹	6,509	15,673	20,042	21,119	32,051	41,800	47,144	51,889
Change	-	140.8%	27.88%	5.38%	51.76%	30.42%	12.78%	10.07%
Announcement Date	19/03/21	18/03/22	24/03/23	22/03/24	21/03/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	47,291	41,068	47,502	62,361	59,112	56,127	64,771	67,687	71,734	66,138	74,945	75,389	74,674	89,694	74,777	75,640	79,980	73,243	78,928	84,622	89,477	81,941	85,968	86,961	91,950	84,206
Change	-	-13.16%	15.67%	31.28%	-5.21%	-5.05%	15.4%	4.5%	5.98%	-7.8%	13.32%	0.59%	-0.95%	20.11%	-16.63%	1.15%	5.74%	-8.42%	7.76%	7.21%	5.74%	-8.42%	4.91%	1.16%	5.74%	-8.42%
EBITDA	5,550	4,889	6,533	8,194	9,068	-	10,443	10,530	8,094	11,923	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-11.92%	33.62%	25.43%	10.67%	-	-	0.83%	-23.13%	47.3%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	3,469	3,411	4,455	7,178	7,010	-	8,982	9,734	6,436	5,793	8,203	7,539	8,579	7,615	9,081	12,903	12,362	12,979	-	-	-	-	-	-	-	-
Change	-	-1.67%	30.62%	61.1%	-2.34%	-	-	8.37%	-33.88%	-9.99%	41.61%	-8.09%	13.78%	-11.23%	19.25%	42.09%	-4.19%	4.99%	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	4,351	7,119	6,971	-	8,911	9,659	6,307	5,116	8,110	7,435	8,395	7,348	8,828	12,759	13,737	12,753	-	-	-	-	-	-	-	-
Change	-	-	-	63.62%	-2.08%	-	-	8.39%	-34.7%	-18.88%	58.51%	-8.32%	12.9%	-12.47%	20.15%	44.53%	7.67%	-7.17%	-	-	-	-	-	-	-	-
Net income ¹	-	-	2,511	4,138	4,653	-	6,124	6,506	4,037	3,375	5,442	4,860	5,863	4,954	6,261	8,824	9,273	7,693	10,167	10,519	10,729	10,519	-	-	-	-
Change	-	-	-	64.8%	12.45%	-	-	6.24%	-37.95%	-16.4%	61.24%	-10.69%	20.63%	-15.49%	26.37%	40.93%	5.09%	-17.04%	32.15%	3.46%	2%	-1.96%	-	-	-	-
Announcement Date	19/10/20	19/03/21	16/04/21	30/07/21	15/10/21	18/03/22	11/04/22	12/08/22	21/10/22	24/03/23	27/04/23	25/08/23	27/10/23	22/03/24	22/04/24	23/08/24	18/10/24	21/03/25	11/04/25	-	-	-	-	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	88,359	1,09,863	1,15,239	1,32,458	1,37,871	1,50,334	1,43,070	1,50,417	1,53,223	1,69,805	1,85,567	1,94,116	1,67,154
Change	-	24.34%	4.89%	14.94%	4.09%	9.04%	-4.83%	5.14%	1.87%	10.82%	9.28%	4.61%	-13.89%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	11,633	13,453	18,717	12,229	15,743	16,194	21,984	26,843	30,444	37,208	39,166	28,839
Change	-	-	15.64%	39.13%	-34.66%	28.73%	2.86%	35.76%	22.1%	13.42%	22.22%	5.26%	-26.37%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	12,630	-	10,302	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	19/03/21	30/07/21	18/03/22	12/08/22	24/03/23	25/08/23	22/03/24	23/08/24	21/03/25	-	-	-	-

¹CNY in Million

Estimates

Forecast Balance Sheet: Zijin Mining Group Company Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	61,932	63,852	1,03,758	1,23,387	1,17,209	98,785	67,219	55,700
Change	-	3.1%	62.5%	18.92%	-5.01%	-15.72%	-31.95%	-17.14%
Announcement Date	19/03/21	18/03/22	24/03/23	22/03/24	21/03/25	-	-	-

¹CNY in Million

Estimates

Cash Flow Forecast: Zijin Mining Group Company Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	13,786	20,131	24,657	30,329	24,426	28,491	27,556	27,635
Change	-	46.03%	22.48%	23%	-19.46%	16.64%	-3.28%	0.29%
Free Cash Flow (FCF) ¹	482.5	5,941	4,021	6,531	24,435	31,500	42,384	51,949
Change	-	1,131.39%	-32.31%	62.42%	274.12%	28.92%	34.55%	22.57%
Announcement Date	19/03/21	18/03/22	24/03/23	22/03/24	21/03/25	-	-	-

¹CNY in Million

Estimates

Forecast Financial Ratios: Zijin Mining Group Company Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	10.85%	14.75%	15.16%	15.37%	19.5%	20.32%	21.65%	23.39%
EBIT Margin (%)	6.55%	11.14%	11.45%	10.88%	16.08%	17.13%	18.34%	19.78%
EBT Margin (%)	6.32%	11.01%	11.09%	10.66%	15.83%	17.44%	18.78%	20.52%
Net margin (%)	3.8%	6.96%	7.41%	7.2%	10.56%	11.62%	12.45%	13.49%
FCF margin (%)	0.28%	2.64%	1.49%	2.23%	8.05%	8.75%	11.19%	13.51%
FCF / Net Income (%)	7.41%	37.91%	20.06%	30.93%	76.24%	75.36%	89.9%	100.12%
Profitability
ROA	4.25%	8.02%	7.79%	6.51%	8.67%	9.88%	9.91%	10.17%
ROE	12.19%	24.57%	25.29%	21.43%	25.89%	25.8%	23.58%	21.7%
Financial Health
Leverage (Debt/EBITDA)	3.33x	1.92x	2.53x	2.74x	1.98x	1.35x	0.82x	0.62x
Debt / Free cash flow	128.37x	10.75x	25.8x	18.89x	4.8x	3.14x	1.59x	1.07x
Capital Intensity
CAPEX / Current Assets (%)	8.04%	8.94%	9.12%	10.34%	8.04%	7.92%	7.28%	7.18%
CAPEX / EBITDA (%)	74.08%	60.62%	60.16%	67.23%	41.26%	38.96%	33.62%	30.72%
CAPEX / FCF (%)	2,857.4%	338.85%	613.17%	464.37%	99.96%	90.45%	65.02%	53.2%
Items per share
Cash flow per share ¹	0.5607	1.01	1.092	1.4	1.821	2.312	2.605	2.866
Change	-	80.1%	8.14%	28.21%	30.05%	26.95%	12.69%	10%
Dividend per Share ¹	0.12	0.2	0.2	0.25	0.38	0.5122	0.5479	0.5979
Change	-	66.67%	0%	25%	52%	34.8%	6.97%	9.12%
Book Value Per Share ¹	2.228	2.698	3.378	4.084	5.259	6.526	7.713	9.029
Change	-	21.09%	25.22%	20.91%	28.77%	24.09%	18.18%	17.07%
EPS ¹	0.25	0.6	0.76	0.8	1.2	1.601	1.806	1.984
Change	-	140%	26.67%	5.26%	50%	33.44%	12.78%	9.84%
Nbr of stocks (in thousands)	2,53,77,260	2,63,30,112	2,63,25,562	2,62,86,311	2,65,37,629	2,64,73,313	2,64,73,313	2,64,73,313
Announcement Date	19/03/21	18/03/22	24/03/23	22/03/24	21/03/25	-	-	-