Longking, a listed company majority-owned by Zijin Mining, announced its 2025 annual results on March 20, posting robust performance with revenue rising 18.49% year-on-year to RMB 11.87 billion and net profit attributable to shareholders surging 33.95% to RMB 1.11 billion. These strong results underscore Longking’s ongoing transition to a two-pillar growth strategy—sustaining leadership in air pollution control while expanding its emerging green energy business.
Strengthening leadership in air pollution management
Amid evolving market conditions and supportive policies, Longking further strengthened its competitive position in air pollution control through continued market expansion and technological innovation, maintaining a clear leadership position in the sector.
Leveraging its strong technological capabilities and proven track record, the company secured multiple large dust removal contracts for 1,000‑MW and 600‑MW coal‑fired power units, achieving a record annual net profit for the segment.
Its desulfurization and denitrification business continued to focus on value‑driven marketing strategies, further tapping the equipment retrofit and upgrade opportunities, delivering solid results. Overseas business also expanded steadily, with key export contracts signed with clients from Russia, Kazakhstan, and Indonesia.
Meanwhile, Longking’s after‑sales maintenance business is actively embracing digitalization and intelligent technologies, foraying into industrial robots used in the energy sector. The move strengthened its intelligent inspection capabilities while expanding the scope of its maintenance business.
Renewable energy business achieves strong growth
Following three years of well-considered investment and development, Longking’s renewable energy segment has borne significant fruit. A number of renewable power projects have been completed for Zijin’s mines in and outside China, contributing notable profits.
In 2025, several projects—those built in China (for Bayannur Zijin), Suriname, and Guyana (a Phase II project)—were put into operation, bringing Longking’s total installed renewable power capacity to approximately 1.2 gigawatts. Meanwhile, construction of the Mami Cuo integrated energy plant is progressing steadily, while development of the Kalenge Hydropower Plant in the Democratic Republic of the Congo is also advancing smoothly.
Longking further deepened its partnership with EVE Energy in battery cells, forging a distinct, innovative cooperation model to drive growth in the area and achieve positive returns. The company operated at full production capacity, delivering approximately 8 GWh of battery cells during the year, with over 95% shipped to international markets.
In February 2026, the company successfully commissioned a third production line at its existing facility, increasing annual battery cell capacity to 13 GWh. Current orders have already filled the production schedule through the end of 2026. At the same time, the company is actively advancing research and development of sodium‑ion batteries and has already signed product sales agreements.
Electric mine trucks for de-carbonization and cost efficiency
Capitalizing on the rapid electrification of haul trucks, Longking created a technical team headed by newly hired industry experts, establishing a production and assembly line for large battery‑electric mine trucks within a short timeline.
In December 2025, the company’s first independently developed battery‑electric dump truck, the LK220E, rolled off the production line. The model overcomes key technological barriers associated with large‑tonnage electric mine trucks while significantly shortening the typical vehicle development cycle.
Designed to address key challenges in mine haulage operations—including high fuel consumption, significant emissions, frequent malfunctions, and expensive maintenance—the model offers high payload capacity, strong power performance, enhanced safety and reliability, and energy‑efficient and intelligent haulage.
The company is currently developing new mine trucks, including the larger‑tonnage LK350E electric model and the LK110EI autonomous electric truck, supporting the global transition toward low‑carbon, intelligent mining operations.
About Zijin Mining
Zijin Mining is a leading global metals and mining company and one of the world’s largest producers of gold, copper, and zinc. The company has more than 30 large-scale mining operations and projects across 19 countries on 5 continents. Leveraging strong in-house research, engineering, and development capabilities, Zijin maintains high operational efficiency and low costs in both acquisitions and operations. This enables the company to be an industry leader in value creation, underpinned by its philosophy of pursuing development for all and sustained by superior environmental, social, and governance performance. Zijin’s shares trade on the Hong Kong Stock Exchange (HKEX: 2899) and the Shanghai Stock Exchange (SSE: 601899).