China Gold International released its 2026 interim results showing sharp top-line and bottom-line growth despite lower gold volumes and a temporary pit suspension at the CSH mine.

Performance Highlights • First-half 2026 revenue rose 57.5% year-on-year to USD 914.22 million, lifted by stronger metals prices and higher copper sales. • Net profit climbed 153% to USD 512.12 million; operating cash flow advanced 65.7% to USD 555.18 million. • Q2 revenue increased 50.1% to USD 461.01 million, while quarterly net profit more than doubled to USD 275.75 million. • Group gold output fell 18% to 72,317 oz for the half-year, as the CSH open-pit nears end-of-life; copper production inched up 2% to 78.64 million lb. • Average realised prices jumped: gold up 52% to USD 4,703/oz; copper up 73% to USD 4.66/lb.

Operational Developments • CSH Mine: A localised slope instability on 22 May halted open-pit mining; processing continues from stockpiles. The company does not expect a material impact on 2026 guidance (70.73k–83.59k oz). Transition to underground mining is under way. • Jiama Mine: Following a 2024 restart at 34,000 tpd, construction of the Youlongbu tailings facility is targeted for completion by end-2027, enabling 44,000 tpd and eventual return to 50,000 tpd. Full integration of high-grade underground resources is planned. • A June 2026 NI 43-101 update lifted Jiama’s measured resources by 523% and proven reserves by 1,170%, underpinning future expansion studies. 2026 guidance: copper 140–149 million lb, gold 70.73k–75.55k oz, silver 4.18–4.82 million oz.

Financial Position • Cash and term deposits totalled USD 1.03 billion at 30 June 2026; working capital stood at USD 909.89 million. • Borrowings declined to USD 463.33 million, trimming the gearing ratio to 0.17 from 0.22 three months earlier. • H1 capital spending reached USD 22.77 million; net investing outflow was USD 110.84 million.

Dividends and Policy • A cash dividend of USD 0.47 per share (USD 186.31 million) was paid in H1. • The board adopted a new dividend framework targeting a base payout of 30% of prior-year net profit, with potential special dividends subject to market conditions.

Risks & Outlook Management is monitoring commodity price volatility, regulatory changes and the ongoing assessment of the CSH pit stability. Current information indicates no material deviation from 2026 production targets.