Jiangxi Copper's 2025 revenue and net profit both increase, with total profit surpassing 10 billion yuan

Source: Shanghai Securities Journal · China Securities Network

Shanghai Securities Journal China Securities Network reported (Reporter Wang Kaifeng) On the evening of March 26, Jiangxi Copper announced its 2025 annual report. During the reporting period, the company achieved operating income of 544.623 billion yuan, a year-on-year increase of 5.42%; realized a total profit of 10.155 billion yuan, a year-on-year increase of 11.48%; and achieved a net profit of 7.130 billion yuan, a year-on-year increase of 2.41%. Against the backdrop of fluctuations in commodity prices and changes in the industry cycle, the company’s main business operations demonstrated resilience, with the core business scale continuing to expand.

Steady growth in performance provides a good foundation for dividends. According to the disclosure, based on the profit distribution plan already implemented in the first half of 2025, which involves a cash dividend of 0.4 yuan per share (tax included), it is proposed to distribute a cash dividend of 0.6 yuan per share (tax included) at the end of 2025, resulting in a total cash dividend of 1.0 yuan per share (tax included) for the year.

As the leading integrated player in China’s copper industry chain, Jiangxi Copper’s core product business maintained steady growth in 2025, with the copper and gold segments forming a strong synergy. By product, cathode copper, as the company’s core product, achieved annual revenue of 240.926 billion yuan, remaining the top contributor to revenue; copper rod products achieved revenue of 127.669 billion yuan, while gold and silver products achieved revenue of 94.548 billion yuan and 21.330 billion yuan, respectively, with precious metals becoming an important support for the company’s performance.

In 2025, the company continued to strengthen its advantageous industries and lay out emerging industries. Projects such as the upgrade and transformation of the copper-molybdenum separation flotation system at Dexing Copper Mine, the technical transformation and expansion of Jiangxi Copper’s 260,000-ton cathode copper, the comprehensive recovery of gold-containing polymetallic mines, the expansion of Jiangxi Cable’s 500kV ultra-high voltage cross-linked cables, and the construction and production of Hongyuan’s phase one 30,000-ton technical transformation and phase two 150,000-ton cathode copper expansion were successfully completed. At the same time, projects such as East China lithium battery copper foil, Shangrao’s 10,000 tons/year photovoltaic welding tape, and efficient permanent magnet motors gradually released production capacity, actively seizing market share in emerging industries such as new energy vehicles, semiconductor packaging, and AI computing power, cultivating new profit growth points.

During the reporting period, the company continued to increase its R&D investment, with annual R&D expenses of 1.415 billion yuan, a year-on-year increase of 26.56% compared to 1.118 billion yuan in 2024. R&D investment mainly focused on core technology areas such as new materials for copper processing, efficient utilization of mineral resources, and precious metals smelting and refining.

According to the strategic plan, the company continued to deepen its global mineral resource layout. As of now, it has completed the acquisition of 100% of Sol Gold’s shares, and its Cascabel project currently has proven, controlled, and inferred resources of 12.2 million tons of copper, 30.5 million ounces of gold, and 102.3 million ounces of silver in its main Alpala deposit.

Jiangxi Copper disclosed that its production and operation plan for 2026 includes: producing 200,000 tons of copper concentrate, 2.39 million tons of cathode copper, 119 tons of gold, 1,413 tons of silver, 6.51 million tons of sulfuric acid, and 2.07 million tons of copper processing materials. The annual investment plan (including fixed asset investment and equity investment) is 26.579 billion yuan.

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