Yunnan Chihong Zinc & Germanium (600497) Q4 2025 earnings summary

Executive summary

• Revenue reached ¥24.06 billion in 2025, up 27.96% year-over-year, with net profit attributable to shareholders at ¥1.04 billion, down 19.91% year-over-year.

• Operating cash flow increased 59.06% year-over-year to ¥3.76 billion.

• Major production targets for lead, zinc, and silver were met or exceeded, with zinc product output up 8.16% year-over-year.

• The company maintained the lowest asset-liability ratio in its history at 27.7%.

Financial highlights

• Total revenue: ¥24.06 billion (+27.96% YoY); total profit: ¥1.40 billion (+4.87% YoY).

• Net profit attributable to shareholders: ¥1.04 billion (-19.91% YoY); basic EPS: ¥0.2042 (-19.57% YoY).

• Operating cash flow: ¥3.76 billion (+59.06% YoY).

• Gross margin for core business: 16.72% (down 0.99 percentage points YoY).

• Asset-liability ratio: 27.7% (lowest on record).

Outlook and guidance

• Focus on expanding resource base, strengthening smelting, and advancing high-end materials.

• Plans to further optimize production, cost control, and cash management.

• Emphasis on green, low-carbon transformation and digital innovation.

• Targeting continued growth in production capacity, resource security, and technology innovation.