CMOC reports first-half profit up 86.27 percent: what it means for CMOC stock

Published on 10/05/2026 at 05:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CMOC lifted first-half profit 86.27 percent to CNY 16.15 billion. CMOC stock posted CNY 135.32 billion revenue in first-half 2026, up 42.78 percent.

CMOC, CNE100000114, Illustration mit AI erstellt.

CMOC Group Limited (CNE100000114) reported net profit attributable to shareholders of CNY 16.15 billion for the first half of 2026, up 86.27 percent year over year. A September 22, 2026 report from Futu said the company also reached a record high for the period, giving the profit increase a clear operating base.

Revenue growth broadens the result

Operating revenue reached CNY 135.32 billion in the first half of 2026, an increase of 42.78 percent from the same period a year earlier. Operating costs rose 39.42 percent to CNY 104.18 billion, so revenue growth exceeded cost growth by 3.36 percentage points.

The second quarter carried much of that momentum. Revenue was CNY 68.92 billion, up 41.32 percent year over year and 3.79 percent from the first quarter, while net profit attributable to shareholders reached CNY 8.39 billion, up 77.60 percent year over year and 8.15 percent quarter over quarter, according to Futu.

What the profit surge means

The earnings mix favors copper, even as cobalt remains a material counter-factor. Copper revenue reached CNY 32.52 billion in the first half of 2026, up 26.44 percent year over year, while the copper business generated CNY 20.45 billion in gross profit and lifted its gross margin by 9.25 percentage points.

Cobalt production increased 6.93 percent to 65,300 tonnes in the first half, but cobalt sales fell 86.60 percent to 5,727 tonnes as export quotas in the Democratic Republic of the Congo constrained shipments. That contrast makes commodity prices and export access central to the next earnings comparison.

A September 27, 2026 report published by Futu and attributed to Tianfeng Securities forecast net profit attributable to shareholders of CNY 33.21 billion for 2026, CNY 37.89 billion for 2027 and CNY 41.62 billion for 2028. The report maintained a Buy rating, while also identifying overseas operations, commodity prices and energy costs as risks.

Market value and Shanghai listing

CMOC was last at CNY 16.88 on the Shanghai Stock Exchange on September 30, 2026 at 3:00 p.m. CST, versus a CNY 16.75 prior close. Its 52-week range was CNY 14.73 to CNY 28.78, and market capitalization stood at CNY 361.1 billion on that date.