Zijin Gold International Profit Surges 179%, Declares First Interim Dividend
On.cc · 2 SOURCESabout 2 hours ago2 MIN
Summary
Zijin Gold International Limited (stock code: 2259) announced record-breaking interim results for the first half of 2024, with net profit surging 179% year-on-year to $1.451 billion. The company declared its first-ever interim dividend of HK$1.5 per share, demonstrating confidence in its financial strength. Gold production increased 44% year-on-year to approximately 27.3 tonnes, while revenue doubled year-on-year to $3.987 billion .
Key Points
- Net profit reached $1.451 billion, up 179% YoY; EPS rose 135% to $0.54
- First interim dividend of HK$1.5 per share declared
- Gold output jumped 44% YoY to about 27.3 tonnes
- Revenue doubled to $3.987 billion; operating cash flow surged 331% YoY
- Cash reserves increased to $3.869 billion; debt ratio fell to 36%
- Return on equity climbed to 17.6% for the half-year
- Global central banks purchased 345 tonnes of gold in H1
- Global gold ETFs recorded $8 billion net inflows, with Asian inflows hitting H1 record
- Full-year gold production guidance maintained unchanged
Why It Matters
Zijin Gold International's 179% profit surge reflects strong underlying demand for gold and successful integration of newly acquired assets. The first interim dividend signals the company's commitment to shareholder returns amid record gold prices, while maintaining full-year production guidance despite operational challenges demonstrates management confidence in navigating market volatility .
Zijin Gold International's 179% profit surge reflects strong underlying demand for gold and successful integration of newly acquired assets. The first interim dividend signals the company's commitment to shareholder returns amid record gold prices, while maintaining full-year production guidance despite operational challenges demonstrates management confidence in navigating market volatility .