Hengbang Co., Ltd. expects a net profit attributable to shareholders of 638 million yuan in 2025.

On March 24, Hengbang Shares (002237) released its 2025 annual report. The company’s operating revenue was RMB 112.39 billion, up 48.3% year over year; its net profit attributable to shareholders was RMB 638 million, up 18.8% year over year; its net profit attributable to shareholders after deducting non-recurring items was RMB 762 million, up 31.7% year over year; net operating cash flow was RMB -2.005 billion, down 587.1% year over year; and EPS (fully diluted) was RMB 0.4459.

Of these, in the fourth quarter, the company’s operating revenue was RMB 35.95 billion, up 103.8% year over year; net profit attributable to shareholders was RMB 76.08 million, up 5.4% year over year; net profit attributable to shareholders after deducting non-recurring items successfully turned from a loss of RMB 52.33 million in the same period last year to a profit of RMB 170 million, achieving a turnaround; and EPS was RMB 0.0532.

As of the end of the fourth quarter, the company’s total assets were RMB 36.557 billion, up 47.9% from the end of the prior year; its net assets attributable to shareholders were RMB 13.293 billion, up 34.9% from the end of the prior year.

It should be noted that the company restated its prior-year financial data, and the calculations above are based on the data before the restatement.

The company mentioned in its 2025 annual report that its main operating businesses include gold mine development, precious metal smelting, research and production of advanced materials, international trade, and so on. With improvements to its core technologies, production efficiency has increased significantly. Based on continuing its gold smelting operations, the company leveraged its advantages in comprehensive utilization of resources from multi-metal recovery to achieve comprehensive recovery of valuable elements such as gold and silver, as well as copper, lead, zinc, and other valuable elements.

During the reporting period, the company implemented a technical renovation project for comprehensive recovery of valuable elements from gold-bearing multi-metal ores,推动了电解铜和硫酸产量的增加。 At the same time, its raw material procurement model also changed, gradually shifting from relying solely on purchases from traders to combining direct procurement from mines with purchases from traders, enhancing the stability and controllability of raw material supply. Overall, the company’s adjustments to its technology and operating model have laid the foundation for its sustainable development in the future.

Abundant news and precise analysis—right on the Sina Finance APP