Zijin Mining Group Co Ltd: Recent Developments and Strategic Outlook

Zijin Mining Group Co Ltd (HSBC code: 02899) has continued to demonstrate resilience and growth momentum in the face of a highly competitive metals‑and‑mining landscape. The company’s latest filings and market reactions provide a clear picture of its strategic priorities, governance actions, and financial performance.

1. Governance and Corporate Resolutions

On 31 December 2025, Zijin Mining held its second Extraordinary General Meeting (EGM). The meeting produced a series of resolutions that were subsequently filed with the Hong Kong Exchanges and Clearing Limited (HKEX). Key documents include:

  • Board of Directors Resolutions (HKEX, 31 Dec 2025, 11:28 am)
  • Legal Opinion supporting the EGM (HKEX, 31 Dec 2025, 11:31 am)
  • Resolutions on Amendments to the Articles of Association (HKEX, 31 Dec 2025, 13:03 am)

These filings confirm that Zijin has taken definitive steps to update its corporate governance framework and legal structure in alignment with evolving regulatory expectations. The board’s decisions, as disclosed in the resolution documents, will influence the company’s strategic direction for the coming years.

2. Financial Performance and Investor Sentiment

Zijin’s preliminary financial results for 2025 have been largely in line with market expectations, according to Morgan Stanley’s research report released on 31 Dec 2025. The firm reported a net profit of RMB 51‑52 billion, representing a 59‑62 % increase over the prior year and translating to a 189‑199 billion RMB rise in shareholder‑level earnings. The company’s market capitalization stands at approximately HKD 970 billion, with a price‑to‑earnings ratio of 20.02.

The stock’s price activity around the year‑end was modest; on 31 Dec 2025 the HSI closed 224 points lower (≈ 0.9 %), and Zijin’s share price settled at HKD 35.66, comfortably above its 52‑week low of HKD 14.02 but still below the 52‑week high of HKD 36.92. Short‑selling pressure was significant, with a ratio of 26 % as of 1 am on 31 Dec 2025. Nonetheless, the share price rebounded in the early hours of 1 Jan 2026, reflecting renewed investor confidence.

3. Production Outlook and Expansion Plans

In a statement issued on 31 Dec 2025, Zijin announced plans to push its gold and copper output into double‑digit growth for 2026. The company cited rising commodity prices and successful expansion projects as the key drivers behind its record annual profit. While the announcement did not disclose precise production targets, it signals a clear intent to capture increased market share in the gold and copper sectors.

The company’s asset base remains diversified across gold, copper, zinc, iron, and other base metals. Its operations span domestic and international markets, and it actively engages in metal trade and investment. The announced expansion aligns with its long‑term strategy to solidify its position as China’s largest mining company—second only to multinational giants such as Rio Tinto.

4. Market Movements and Investor Activity

The day before the New Year, Zijin experienced notable south‑bound trading activity. According to a report from aastocks.com, the company saw a net outflow of HKD 682.6 million in south‑bound trades on 31 Dec 2025. This outflow reflects a cautious stance among mainland investors ahead of the year‑end and the EGM. Conversely, the broader market displayed mixed signals: the Hang‑Seng Index opened lower, slipped to a trough of 25 554 points, and closed 224 points lower.

Short selling also intensified, with a ratio of 4.62 % reported for the day. Despite this, the company’s shares gained approximately 4 % on 31 Dec 2025 following a positive profit alert issued by the Zijin Series Issue.

5. Strategic Partnerships and International Engagements

Zijin’s influence extends beyond China. In late December 2025, the company held a constructive meeting with Serbian government officials, including Deputy Prime Minister Adrijana Mesarović, at the Ministry of Finance. The discussion focused on new investment opportunities in Serbia, highlighting Zijin’s willingness to expand its global footprint.

Additionally, Zijin’s operations in lithium—an increasingly critical resource for battery technology—position the company to benefit from the anticipated shift in global supply chains. While the lithium sector was not a central focus of the 31 Dec 2025 announcements, the company’s diversified metal portfolio and commitment to expansion suggest a holistic approach to resource development.

6. Outlook

With a robust governance framework, solidified by the EGM resolutions, and a clear production expansion strategy, Zijin Mining Group Co Ltd appears well‑positioned to capitalize on rising commodity prices and strategic growth opportunities. Investor sentiment remains cautiously optimistic, as reflected in the modest share price movements and short‑selling dynamics. The company’s continued focus on both gold and copper—alongside its diversified metal operations—provides a balanced risk profile that is likely to support shareholder value creation in the medium to long term.