Jiangxi Copper records RMB1.53 billion asset impairment for FY2025; net profit hit by RMB1.10 billion

Bulletin Express03-27

Hong Kong-listed Jiangxi Copper announced that its Board approved a total asset-impairment provision of RMB1.53 billion for the year ended 31 December 2025.

The largest charges stem from: • Construction in progress—RMB512.41 million, mainly tied to the Chengmenshan Copper Mine Phase III expansion and Majiagou tailings pond projects that no longer align with updated land-use plans. • Other non-current assets—RMB433.33 million, also related to Chengmenshan Copper Mine. • Credit impairment losses—RMB267.29 million, comprising new bad-debt provisions of RMB306.18 million and reversals of RMB38.89 million. • Fixed assets—RMB191.53 million after identifying certain assets with no further value in use. • Inventory write-downs—RMB102.72 million, reflecting valuation at the lower of cost and net realisable value; Shandong Humon Smelting contributed RMB21.09 million of this amount. • Investment properties—RMB22.67 million due to lower recoverable amounts.

The total impairment reduced 2025 net profit attributable to shareholders by approximately RMB1.10 billion.

Both the Audit Committee and the full Board affirmed that the provisions comply with China’s Accounting Standards for Business Enterprises and accurately reflect asset values and the company’s financial position.

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