On July 10, Sinomine Resource Group announced that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to range from Yuan 1.050 billion to 1.250 billion, representing a year-on-year increase of 1,078%-1,302%. Benefiting from the development of downstream energy storage and power battery sectors, lithium salt product prices rose year-on-year. The operating efficiency of the company's lithium battery new energy raw material development and utilization segment improved, driving a year-on-year increase in profit, thereby lifting the company's overall profitability. In addition, the company's Tsumeb smelter in Namibia, posted a significant reduction in losses compared with the same period last year due to business transformation.
Note: The company's net profit for Q2 is estimated at Yuan 542 million-742 million, compared with Yuan 508 million in Q1. Based on this, Q2 net profit is expected to increase by 6%-46% quarter-on-quarter.
Edited by Cassie Li, lixiangying@mysteel.com
