Sichuan Gold: Net profit increased by nearly 90% year-on-year last year, Q4 net profit declined quarter-on-quarter | Financial Report Analysis

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Caixin Media, April 2 (Reporter Xiao Lianghua) Benefiting from the rise in domestic and international gold prices and repeated record highs, Sichuan Gold (001337.SZ) saw a sharp increase in last year’s performance. However, although the average gold price hit a new intra-year high, the company’s net profit fell quarter-on-quarter in last year’s Q4.

The company released an announcement this evening. Last year, the company achieved operating revenue of RMB 1.026 billion, up 60.38% year over year; net profit attributable to shareholders of listed companies was RMB 466 million, up 87.69% year over year; the company produced 32,645.59 tons of gold concentrate, and sold 28,518.54 tons of gold concentrate.

From the average gold prices across quarters, last year’s Q4 had the highest full-quarter average, exceeding $4,100 per ounce. Last year’s Q2 and Q3 international average gold prices were around $3,300 per ounce and $3,450 per ounce, respectively. However, in last year’s Q4, the company only achieved net profit of less than RMB 100 million, lower than Q3, and even with the gap compared to Q2, when gold prices were lower.

In terms of reserve increases, the company invested RMB 58.1305 million in exploration funds last year in total, including RMB 28.4256 million capitalized and RMB 29.7049 million expensed, for the exploration and production work of the Suoluogou gold mine, geological prospecting within the exploration concession scope for the Suoluo—Wajinagou gold mine, and verifying resource reserves for the Suoluogou gold mine.

The company stated that, according to the “Resource Reserve Verification Report of Suoluogou Gold Mine in Muli County, Sichuan Province” submitted by the exploration unit to the Sichuan Provincial Department of Natural Resources in December 2025, the amount of gold ore held within the mining rights area of the Suoluogou gold mine is 33.108 million tons, with a metal content of 76,340 kilograms (as of yet, no filing letter from the Sichuan Provincial Department of Natural Resources for the Suoluogou gold mine resource reserve verification report has been obtained). In addition, within the mining rights area of the Wajinagou ore block in the Suoluogou gold mine area, the amount of gold ore held is 0.5020 million tons, with a metal content of 1,105.00 kg.

Sichuan Gold also announced that, under the condition that the intended use and scale of the raised funds investment do not change, the company will extend the date for the “Suoluogou gold mine green mine construction” project to reach its scheduled condition for use to June 30, 2027. The company said that this extension is due to optimizing and upgrading the project’s technical plan in response to the latest national policy requirements for green mine construction.

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