XINXIN MINING (03833) issued a profit warning, expecting a significant decrease of approximately 50.8% in the consolidated net profit attributable to shareholders for the mid-term period compared to the same period last year.

XINXIN MINING (03833) announced that the group is expected to achieve a consolidated operating income of approximately RMB 1.18 billion for the six months ending June 30, 2025, compared to RMB 1.065 billion in the same period last year, representing an increase of about 4.9%; and a consolidated net profit attributable to the company's shareholders of approximately RMB 71.8 million, compared to RMB 146 million in the same period last year, a significant decrease of about 50.8%. The board of directors believes that the significant decrease in net profit compared to the same period last year is mainly due to the average selling price (excluding tax) of electrolytic nickel in the current period being approximately RMB 110,688 per ton, compared to RMB 124,230 per ton in the same period last year, a decrease of about 10.9%; and an increase in production costs, primarily due to the use of purchased nickel powder in the production process, leading to an increase in the production cost of electrolytic nickel.