股票代码：603993 股票简称：洛阳钼业 编号：2023—044 洛阳栾川钼业集团股份有限公司 2023年6月9日公司2022年年度股东大会审议通过《关于本公司 2023年度对外担保安排的议案》，同意授权董事会或董事会授权人士 （及该等授权人士的转授权人士）批准公司直接或通过全资子公司 （含直接及间接全资子公司，下同）或控股子公司（含直接及间接控 股子公司，下同）为其他全资子公司、控股子公司合计提供最高余额 不超过人民币900亿（或等值外币）担保额度，其中对资产负债率超 过70%的被担保对象的担保额度为450亿，对资产负债率不超过70%的 被担保对象的担保额度为450亿；前述担保主要包括但不限于：境内 外金融机构申请的贷款、债券发行、银行承兑汇票、电子商业汇票、 保函、票据、信用证、抵质押贷款、银行资金池业务、环境保函、投 标保函、履约保函、预付款保函、质量保函、衍生品交易额度、透支 额度或其它形式的负债等情形下公司直接或通过全资子公司、控股子 公司为其他全资子公司、控股子公司提供担保；上述资产负债率在70% 以上或以下的全资或控股子公司的担保额度在上述限额内不可相互 调剂使用。额度有效期自2022年年度股 ...

Financial Performance - The company's operating revenue for 2022 was RMB 172.99 billion, a decrease of 0.50% compared to RMB 173.86 billion in 2021[5]. - Net profit attributable to shareholders for 2022 was RMB 6.07 billion, an increase of 18.82% from RMB 5.11 billion in 2021[5]. - The net cash flow from operating activities reached RMB 15.45 billion, representing a significant increase of 149.63% compared to RMB 6.19 billion in 2021[5]. - Total comprehensive income for 2022 was RMB 14.68 billion, a substantial increase of 521.92% compared to RMB 2.36 billion in 2021[12]. - The company's total costs increased by 0.27% to RMB 162.25 billion, compared to RMB 161.81 billion in 2021[11]. - The financial expenses surged by 65.15% to RMB 1.81 billion, up from RMB 1.10 billion in 2021[11]. - The company achieved a reduction in income tax expenses by 21.48%, totaling RMB 2.61 billion compared to RMB 3.33 billion in 2021[11]. - The company's net profit increased from RMB 5,428 million in 2021 to RMB 7,192 million in 2022, representing a growth of RMB 1,764 million or 32.50%[62]. Assets and Liabilities - The company's total assets as of the end of 2022 were RMB 165.02 billion, a 20.06% increase from RMB 137.45 billion at the end of 2021[5]. - Total liabilities increased by 15.47% to CNY 102.98 billion, with current liabilities slightly decreasing by 1.18% to CNY 50.06 billion[9]. - The company's equity attributable to shareholders rose by 29.75% to CNY 51.70 billion, reflecting a 31.55% increase in undistributed profits to CNY 18.02 billion[10]. - Current assets rose by 20.75% to CNY 85.68 billion, driven by a 34.25% increase in cash and cash equivalents to CNY 32.65 billion[8]. - Non-current assets grew by 19.32% to CNY 79.34 billion, with significant increases in long-term equity investments by 54.78% to CNY 1.93 billion[8]. Production and Operations - TFM copper production reached 254,286 tons in 2022, up from 209,120 tons in 2021, marking a significant increase[45]. - Cobalt production increased to 20,286 tons in 2022, compared to 18,501 tons in 2021, reflecting a positive trend in output[45]. - The company aims to produce between 29.00 to 33.00 thousand tons of copper metal and 2.10 to 2.40 thousand tons of cobalt metal in 2023[54]. - The company is focused on accelerating project construction in Africa and improving mining capabilities in China to increase production capacity[56]. - The company achieved a total mining volume of 1,262.7 thousand tons at the Sandaozhuang molybdenum-tungsten mine and 1,596.9 thousand tons at the TFM copper-cobalt mine[105]. Strategic Initiatives - The company aims to enhance its global governance level and increase production capacity through the construction of world-class projects[3]. - The company has outlined a three-step development strategy to reduce costs, increase production capacity, and achieve significant growth[3]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10]. - The company is actively pursuing investment and acquisition opportunities in the renewable energy sector, including a partnership with CATL to develop lithium extraction facilities in Bolivia[50]. - The company aims to enhance its management, cost control, technology, and overall performance as part of its strategic focus for the year[23]. Market Conditions and Pricing - The average domestic market price of molybdenum concentrate increased by 39.20% year-on-year to RMB 2,816 per ton in 2022[25]. - The average international market price of cobalt metal rose by 26.31% year-on-year to USD 30.29 per pound in 2022[27]. - The average price of tungsten concentrate rose by 11.95% year-on-year to RMB 1,743 per ton in 2022[25]. - The average LME copper spot price was $8,797 per ton, a decrease of 5.58% year-on-year[29]. - The global metal and mineral trading industry has faced significant price volatility due to the Russia-Ukraine conflict and rising interest rates, presenting both opportunities and challenges for companies like IXM[185]. Corporate Governance - The company adheres to high standards of corporate governance, ensuring shareholder interests and accountability[117]. - The board consists of eight members, including two executive directors, three non-executive directors, and three independent non-executive directors[120]. - The company has established a compensation committee consisting of two independent non-executive directors and one non-executive director, with the majority being independent[136]. - The audit and risk committee reviewed the effectiveness of external audits and internal controls, holding five meetings during the year ended December 31, 2022[141]. - The company encourages continuous professional development for all directors to ensure they contribute effectively to the board[124]. Environmental and Social Responsibility - The company has set a carbon neutrality strategic goal for 2050, emphasizing its commitment to ESG management and green development[22]. - The company achieved a stable HSE performance with zero fatalities and zero major environmental incidents during the reporting period[49]. - The company has implemented ecological restoration measures, with 226,000 square meters of land restored at the Sandaozhuang molybdenum-tungsten mine[103]. - The company has established a three-tier management structure for ESG strategy, ensuring compliance and sustainable development policies are implemented across all operational units[197]. - The company is committed to sustainable development, with ongoing efforts to improve ESG performance and implement energy-saving measures across its operations[198].

Financial Performance - The company's operating revenue for Q1 2023 was RMB 44,283,515,685.33, representing a decrease of 0.54% compared to the same period last year[3]. - Net profit attributable to shareholders of the listed company was RMB 317,121,315.82, down 82.30% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 65,706,188.35, a decline of 96.09% compared to the previous year[3]. - Basic earnings per share were RMB 0.015, down 82.14% year-on-year[3]. - Operating profit for Q1 2023 was CNY 436.47 million, significantly down from CNY 3.27 billion in Q1 2022, reflecting a decline of approximately 86.7%[15]. - Net profit attributable to shareholders for Q1 2023 was CNY 317.12 million, compared to CNY 1.79 billion in Q1 2022, indicating a decrease of about 82.3%[16]. - The company reported a significant increase in financial expenses, totaling CNY 643.05 million in Q1 2023, compared to CNY 155.42 million in Q1 2022[15]. - The company’s total comprehensive income for Q1 2023 was a loss of CNY 1.14 billion, contrasting with a gain of CNY 1.17 billion in Q1 2022[16]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 522.78%, amounting to RMB 4,643,002,834.66[3]. - Operating cash flow for Q1 2023 was RMB 4.64 billion, a significant improvement from a negative RMB 1.10 billion in Q1 2022, indicating a recovery in operational efficiency[17]. - Total cash inflow from operating activities reached RMB 44.39 billion, compared to RMB 43.42 billion in the same period last year, reflecting a year-over-year increase of 2.2%[17]. - Cash outflow for purchasing goods and services decreased to RMB 37.07 billion from RMB 41.24 billion in Q1 2022, showing a reduction of approximately 10.1%[17]. - The company’s cash and cash equivalents as of March 31, 2023, were RMB 30,442,487,807.49, down from RMB 32,647,565,268.28 at the end of 2022[12]. - The ending cash and cash equivalents balance for Q1 2023 was RMB 26.65 billion, a decrease from RMB 28.96 billion in Q1 2022[18]. - Cash received from operating activities increased significantly, with other cash receipts related to operating activities rising to RMB 2.20 billion from RMB 0.16 billion year-over-year[17]. - The company’s total cash inflow from investment activities was RMB 896.60 million, down from RMB 1.33 billion in Q1 2022, indicating a decrease of approximately 32.8%[18]. - The company’s cash outflow for fixed asset purchases in Q1 2023 was RMB 2.68 billion, compared to RMB 1.56 billion in Q1 2022, reflecting an increase of 71.5%[18]. Shareholder and Equity Information - Total assets at the end of the reporting period were RMB 163,004,546,723.53, a decrease of 1.22% from the end of the previous year[3]. - Equity attributable to shareholders of the listed company was RMB 50,778,328,411.61, down 1.78% from the previous year[3]. - The company’s total equity as of March 31, 2023, was CNY 60.94 billion, down from CNY 62.04 billion at the end of 2022[14]. - The top 10 unrestricted shareholders hold a total of 3,637,170,000 shares, with Hongshang Industrial Holding Group Co., Ltd. being the largest shareholder, owning 24.69% of the company[8]. - Total liabilities as of March 31, 2023, amounted to CNY 102.06 billion, a slight decrease from CNY 102.98 billion as of December 31, 2022[12]. - Current liabilities totaled CNY 47.56 billion as of March 31, 2023, down from CNY 50.06 billion at the end of 2022, representing a reduction of approximately 4.99%[12]. Production and Sales - The production of molybdenum reached 4,119 tons, reflecting an 8.05% year-on-year increase, while sales decreased by 23.32% to 2,851 tons[9]. - The sales volume of refined metal products decreased by 10.30% year-on-year, totaling 798,293 tons[9]. - The production of copper (NPM 80% equity) increased by 19.74% year-on-year, reaching 6,227 tons, while sales surged by 69.26% to 6,310 tons[9]. - The production of phosphate (HA+LA) decreased by 2.42% year-on-year, totaling 269,792 tons, while sales increased by 12.31% to 279,568 tons[9]. Challenges and Strategic Initiatives - The company faced challenges in product exports due to issues with the Congo (Kinshasa) equity rights, impacting sales and profits[5]. - The company is currently in the process of restoring exports from TFM, which were previously limited[5]. - The TFM mixed ore project has completed infrastructure stripping and civil construction, with production tasks expected to be ready by the end of April 2023[11]. - The company aims to achieve carbon peak by 2030 and carbon neutrality by 2050, reinforcing its position as an ESG leader[11]. - The company has established an ESG development department to promote sustainable development strategies[11].

股票代码：603993 股票简称：洛阳钼业 编号：2023—012 重要内容提示： ●会议召开时间：2023 年 3 月 27 日（星期一）下午 15:00-16:30 ●会议召开方式：上证路演中心视频直播和网络互动 ●会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） ●问题征集方式：投资者可于 2023 年 03 月 22 日(星期三)至 03 月 26 日(星期日)16:00 前登录上证路演中心网站首页点击"提问预 征集"栏目或通过公司邮箱 603993@cmoc.com 进行提问。公司将在说 明会上对投资者普遍关注的问题进行回答。 洛阳栾川钼业集团股份有限公司（以下简称"公司"）已于 2023 年 3 月 18 日披露了 A 股《2022 年年度报告》和 H 股《2022 年年度业 绩公告》。为便于广大投资者更深入全面地了解公司 2022 年度经营 成果、财务状况，公司计划于 2023 年 3 月 27 日下午 15:00-16:30 召 1 开 2022 年度业绩说明会，就投资者普遍关心的问题进行交流。 一、业绩说明会类型 洛阳栾川钼业集团股 ...

Financial Performance - For the year 2022, the company achieved a revenue of approximately RMB 172.99 billion, with a net profit attributable to the parent company of approximately RMB 6.067 billion, representing a year-on-year increase of 18.82%[2] - In 2022, the company's operating revenue was approximately CNY 172.99 billion, a decrease of 0.50% compared to 2021[12] - The net profit attributable to shareholders was approximately CNY 6.07 billion, an increase of 18.82% year-over-year[12] - The company's total assets increased by 20.06% year-over-year, reaching approximately CNY 165.02 billion by the end of 2022[12] - The net assets attributable to shareholders grew by 29.75% year-over-year, totaling approximately CNY 51.70 billion[12] - Basic earnings per share for 2022 were CNY 0.28, reflecting a 16.67% increase from CNY 0.24 in 2021[13] - The company reported a net loss from non-operating financial instruments amounting to RMB 1,684,640,006.66 in 2022, compared to a loss of RMB 3,663,615,218.75 in 2021, indicating a significant improvement[14] - The company reported a significant increase in investment income, which rose by 558.16% to RMB 725.92 million from RMB 110.30 million in 2021[18] - The total income tax expense for 2022 was RMB 2,612,765,878.42, down from RMB 3,327,700,999.16 in 2021[44] - The company reported a net profit attributable to shareholders of RMB 6,066,946,564.19 for the year 2022, compared to RMB 5,106,017,249.81 in 2021[34] Production and Operations - The production output for copper and cobalt in the Democratic Republic of Congo reached 254,286 tons and 20,286 tons, respectively, marking increases of approximately 22% and 10% year-on-year[2] - The production of copper (TFM) decreased by 36.41% year-over-year, with sales volume at 130,414 tons[52] - The sales volume of cobalt decreased by 26.48% year-over-year, totaling 12,560 tons[52] - The sales volume of refined metal products decreased by 13.19% year-over-year, totaling 3,136,596 tons[52] - The company achieved a record high operating revenue of RMB 173 billion and a net profit attributable to shareholders exceeding RMB 6 billion, representing a year-on-year growth of 19%[108] - The TFM copper-cobalt production reached a historical high, with the project expected to add an annual copper output of approximately 200,000 tons and cobalt output of about 17,000 tons upon reaching full capacity[116] Cash Flow and Financial Position - The company maintained a cash balance of approximately RMB 32.648 billion at the end of the reporting period, with total bank credit exceeding RMB 160 billion[2] - The net cash flow from operating activities reached approximately CNY 15.45 billion, representing a significant increase of 149.63% compared to the previous year[12] - Cash and cash equivalents rose by 34.25% to RMB 32,647,565,268.28 in 2022, compared to RMB 24,318,024,989.56 in 2021[15] - The net cash outflow from investing activities was approximately RMB 7,371.65 million, an increase of 50.69% compared to the previous year[72] - The net cash outflow from financing activities was approximately RMB 2,096.55 million, a decrease of 126.58% compared to the previous year[72] Strategic Initiatives and Future Plans - The company plans to commence production for the KFM Phase I project in Q2 2023 and the TFM mixed ore project in 2023[2] - The company aims to strengthen its "mining + trading" synergy and modern mining approach with the new management team at IXM[6] - The company is actively searching and investing in quality projects related to the new energy industry, including a collaboration with CATL to develop lithium extraction facilities in Bolivia[112] - The company plans to optimize different processes for various ore bodies to maximize resource value[135] - Key projects include accelerating the construction of KFM copper-cobalt and TFM mixed ore projects in Africa, targeting production in 2023[134] ESG and Corporate Governance - The company’s ESG management level was optimized, maintaining an MSCI ESG rating of A, with a total recordable injury rate (TRIR) of 0.76[2] - The company aims to strengthen its ESG management and has set a carbon neutrality target for 2050[10] - The company maintained an MSCI ESG rating of A, leading the industry globally, and initiated a comprehensive ESG system construction[111] - The company has committed to maintaining high standards of corporate governance to protect shareholder interests and enhance company value[144] Market and Economic Environment - The company is navigating a complex global economic environment while maintaining a stable production operation and advancing key projects[3] - The global copper market is expected to see concentrated incremental releases, with copper processing fees reaching a new high since 2017, indicating a positive outlook for copper prices[124] - The cobalt market is experiencing continuous supply increases, primarily driven by expansions in the Democratic Republic of Congo, supporting demand from the rapidly growing electric vehicle sector[125] - The global molybdenum supply remains stable, with domestic steel industry reforms and high-end manufacturing growth expected to support molybdenum demand[126] Employee and Workforce Management - The company employed approximately 12,754 full-time employees as of December 31, 2022, with 8,056 in production roles and 860 in technical roles[75] - The company is implementing a monthly and annual assessment system to incentivize employees based on productivity and labor competition[76] Research and Development - The company's R&D expenses for the year ended December 31, 2022, were approximately CNY 388.61 million, a 42.67% increase compared to CNY 272.38 million in the previous year[56]

Financial Performance - The company's operating revenue for Q3 2022 was RMB 40,701,711,226.41, representing a year-over-year decrease of 2.49%[2] - Net profit attributable to shareholders for the same period was RMB 1,157,999,914.03, showing a slight increase of 0.73% year-over-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 141.26% to RMB 1,237,757,938.46 in Q3 2022[2] - Basic and diluted earnings per share for the period were both RMB 0.055, reflecting a year-over-year increase of 3.77%[2] - The company reported a 49.12% increase in net profit attributable to shareholders for the year-to-date period compared to the previous year[5] - The company experienced a 270.78% increase in investment income year-over-year, attributed to significant growth in its metal trading business[5] - For the first three quarters of 2022, total revenue was CNY 132.47 billion, compared to CNY 126.56 billion in the same period of 2021, reflecting a growth of approximately 4.8%[18] - The net profit for the first three quarters of 2022 was CNY 9.46 billion, significantly up from CNY 6.38 billion in the previous year, indicating an increase of about 48.8%[18] - Net profit for the first three quarters of 2022 reached ¥6,225,796,938.22, a 47.6% increase from ¥4,216,546,635.60 in the same period of 2021[19] - Net profit attributable to shareholders of the parent company was ¥5,305,930,223.59, up 49.0% from ¥3,558,157,949.42 year-over-year[19] - Total comprehensive income for the first three quarters of 2022 was ¥14,842,917,798.93, compared to ¥2,528,937,543.61 in 2021, marking a significant increase[19] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 170,799,324,443.34, an increase of 24.26% compared to the end of the previous year[2] - As of September 30, 2022, total current assets increased to CNY 95.26 billion from CNY 70.96 billion, representing a growth of approximately 34.5% year-over-year[14] - Cash and cash equivalents rose to CNY 38.68 billion, up from CNY 24.32 billion, marking a significant increase of about 58.9% compared to the previous year[14] - Total non-current assets reached CNY 75.54 billion, an increase from CNY 66.49 billion, reflecting a growth of approximately 13.3% year-over-year[15] - The company's total assets amounted to CNY 170.80 billion, compared to CNY 137.45 billion in the previous year, indicating a growth of around 24.2%[15] - Total liabilities increased to CNY 109.64 billion from CNY 89.19 billion, which is an increase of approximately 23.0% year-over-year[17] - The company's total equity rose to CNY 61.16 billion, up from CNY 48.26 billion, representing a growth of about 26.8% compared to the previous year[17] - Long-term borrowings increased to CNY 22.39 billion from CNY 13.61 billion, representing a growth of approximately 64.4% year-over-year[17] Cash Flow - Cash flow from operating activities for the year-to-date period was RMB 10,805,720,899.93, showing a significant increase of 329.69%[2] - Operating cash flow net amount for the first three quarters of 2022 was ¥10,805,720,899.93, a substantial rise from ¥2,514,763,641.12 in the previous year[20] - Cash inflow from financing activities totaled ¥88,493,968,698.69, an increase from ¥78,744,923,838.07 in the same period of 2021[21] - Cash and cash equivalents at the end of the period reached ¥34,282,380,732.67, compared to ¥21,656,354,424.07 at the end of the previous year[21] - The company reported a net cash flow from financing activities of ¥9,432,221,927.20, a decrease from ¥14,831,065,048.77 in the same period of 2021[21] - Cash outflow from investment activities was ¥15,206,434,235.13, slightly down from ¥16,751,248,921.00 in the previous year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period was 426,228, with the top 10 shareholders holding a combined 24.69% and 24.68% of shares respectively[6] - The top shareholder, Hongshang Industrial Holding Group, holds 533,322,000 shares, representing 24.69% of the total shares[6] - The total number of shares held by the company's repurchase account is 204,930,407 shares[9] - The investment framework agreement signed with investors will result in a 24.68% indirect shareholding in the company by Sichuan Times through Luoyang Mining Group[13] Production and Operations - The production volume of copper was 187,391 tons, with a sales volume of 130,414 tons, reflecting a year-on-year decrease of 10.61% in sales[10] - The sales volume of cobalt increased by 12.53% year-on-year, reaching 12,231 tons[10] - The sales volume of refined metal products decreased by 18.11% year-on-year, totaling 2,294,460 tons[10] - The company is investing up to $1.826 billion in the KFM development project in the Democratic Republic of Congo, with significant progress in construction and equipment installation[12] - The company has completed the basic construction of the KFM mining plant and is progressing with the installation of main equipment[12] - The company has successfully launched its SAP digital platform, enhancing operational efficiency and automating financial processes[12]

Financial Performance - The company achieved operating revenue of approximately RMB 91.77 billion, representing a year-on-year growth of 8.20%[4] - Net profit attributable to shareholders reached RMB 4.15 billion, an increase of 72.21% compared to the same period last year[4] - Operating cash flow amounted to RMB 8.50 billion, reflecting a significant year-on-year increase of 544.71%[6] - The company reported a basic earnings per share of RMB 0.193, up 72.32% from the previous year[6] - Total assets increased to RMB 155.40 billion, a growth of 13.06% compared to the end of the previous year[5] - Total operating revenue for the current period reached RMB 91.77 billion, an increase of 8.20% compared to RMB 84.82 billion in the same period last year[60] - Operating profit increased by 82.32% to RMB 7.95 billion from RMB 4.36 billion year-on-year[60] - Total comprehensive income for the current period reached RMB 9.72 billion, a dramatic increase of 1,617.40% compared to RMB 565.89 million last year[61] Asset and Liability Management - The net asset attributable to shareholders increased to RMB 46.49 billion, reflecting a growth of 16.68% from the previous year[5] - Total liabilities increased by 11.43% to CNY 99.38 billion, with current liabilities decreasing by 3.41% to CNY 48.93 billion[58] - Short-term borrowings decreased by 23.41% to CNY 20.61 billion, while long-term borrowings increased by 51.93% to CNY 20.68 billion[58] - Shareholders' equity rose by 16.07% to CNY 56.02 billion, with retained earnings increasing by 19.15% to CNY 16.32 billion[59] - The debt-to-asset ratio improved from 64.89% to 63.95%[84] Production and Operational Highlights - In the first half of 2022, the company produced 125,387 tons of TFM copper metal, exceeding the production guidance of 227,000 to 267,000 tons[37] - Cobalt production increased by 49.3% year-on-year, reaching 10,465 tons, while niobium production rose by 17.2% to 4,627 tons[38] - The company’s copper production increased by 24.4% year-on-year, contributing to record-high performance during the reporting period[38] - The company’s iron concentrate production increased by 66% year-on-year, reflecting improvements in recovery processes[43] Market and Price Trends - The average price of molybdenum concentrate in the domestic market rose to RMB 2,616 per ton, a year-on-year increase of 48.64%[10] - APT price increased to $341.97 per ton in H1 2022, up 28.40% from $266.33 in H1 2021[12] - Molybdenum oxide price rose to $18.74 per pound in H1 2022, a 47.10% increase from $12.74 in H1 2021[12] - Copper cathode price reached $9,760.74 per ton in H1 2022, reflecting a 7.36% rise from $9,092.00 in H1 2021[12] - Cobalt metal price surged to $36.73 per pound in H1 2022, marking a 74.74% increase from $21.02 in H1 2021[12] Research and Development - Research and development expenses surged by 285.84% to RMB 248.34 million, up from RMB 64.36 million year-on-year[60] - The company has a strong R&D team, achieving multiple industrialization results and receiving various awards, including the "National Enterprise Technology Center" title and several technology progress awards[97] - The application of 5G technology in mining operations has significantly improved production efficiency and safety, with the project recognized as a top innovation achievement in China[98] ESG and Sustainability Initiatives - The company maintained an MSCI ESG rating of A, leading the domestic mining industry in ESG rankings[2] - The company aims to maintain an MSCI ESG rating of A, enhancing sustainable development governance across all business sectors[53] - The company set a goal of achieving "zero fatalities" and "zero pollution" in its HSE initiatives, successfully meeting these targets during the reporting period[44] - The company is actively implementing energy-saving and emission reduction initiatives as part of its long-term vision for climate change and biodiversity[96] Strategic Projects and Investments - The TFM copper-cobalt mine is expected to increase annual copper production by 200,000 tons and cobalt production by 17,000 tons upon completion of ongoing projects[40] - The company successfully completed the equity transfer for the KFM project in July 2022, enhancing its strategic cooperation in the new energy metal sector[42] - Investment and acquisition efforts will target high-quality projects in Africa, South America, and Southeast Asia, focusing on new energy-related industries[52] Risk Management - The company faces risks related to global economic uncertainties, including the ongoing COVID-19 pandemic and geopolitical tensions, which may impact financial stability[101] - The company is actively managing risks associated with its overseas investments in countries like the Democratic Republic of Congo, Brazil, Australia, and Switzerland[102] - The company closely monitors foreign exchange risks due to its international operations and employs financial instruments to hedge against currency fluctuations[102] Employee Development and Training - The total number of full-time employees as of June 30, 2022, was approximately 12,860, with production personnel making up 64.56% of the workforce[122] - The company conducted training for a total of 30,678 employees in the first half of 2022, focusing on safety, skills, and professional development[127] - The company has implemented a comprehensive training program covering safety, management, and equipment operation to enhance employee skills and safety awareness[126]

Financial Performance - The company's operating revenue for 2021 was RMB 173.86 billion, a 53.89% increase from RMB 112.98 billion in 2020[7] - Net profit attributable to shareholders for 2021 reached RMB 5.11 billion, representing a 119.26% increase from RMB 2.33 billion in 2020[7] - The net profit after deducting non-recurring gains and losses was RMB 4.10 billion, up 276.24% from RMB 1.09 billion in 2020[7] - The basic earnings per share for 2021 was RMB 0.24, an increase of 118.18% from RMB 0.11 in 2020[7] - The weighted average return on net assets rose to 12.93%, an increase of 7.10 percentage points from 5.83% in 2020[7] - Total operating revenue for 2021 reached RMB 173.86 billion, a 53.89% increase from RMB 112.98 billion in 2020[17] - Net profit for 2021 was RMB 5.43 billion, representing a 118.98% increase compared to RMB 2.48 billion in 2020[17] - Unallocated profits increased by 44.61% to RMB 13.70 billion from RMB 9.47 billion year-over-year[17] - Total comprehensive income for 2021 was RMB 2.36 billion, a significant turnaround from RMB -1.28 billion in 2020, marking a 284.35% increase[18] Assets and Liabilities - The company's total assets increased by 12.26% to RMB 137.45 billion in 2021, compared to RMB 122.44 billion in 2020[7] - The company's net assets attributable to shareholders increased by 2.45% to RMB 39.85 billion in 2021, compared to RMB 38.89 billion in 2020[7] - The company's total liabilities increased by 18.75% to CNY 89.19 billion from CNY 75.11 billion[14] - The long-term borrowings decreased by 11.39% to CNY 13.61 billion from CNY 15.36 billion[13] - The company's cash and cash equivalents increased by 43.49% to CNY 24.32 billion as of December 31, 2021, compared to CNY 16.95 billion in 2020[11] - Total current assets rose by 23.96% to CNY 70.96 billion from CNY 57.24 billion year-over-year[11] - The company's debt-to-asset ratio increased from 61.34% to 64.89% year-over-year[97] Cash Flow - The net cash flow from operating activities decreased by 27.10% to RMB 6.19 billion in 2021 from RMB 8.49 billion in 2020[7] - The cash inflow from operating activities totaled RMB 179.877 billion, reflecting a 39.37% increase compared to 2020[20] - The cash outflow from investment activities was RMB 15.607 billion, a decrease of 43.14% from the previous year[20] - The net cash flow from financing activities was RMB 7.889 billion, representing a significant increase of 1,768.01% year-on-year[20] - The company reported a net increase in cash and cash equivalents of RMB 8.944 billion, a remarkable turnaround from a decrease of RMB 943 million in 2020[20] Production and Operations - The company aims to enhance production capacity through the construction and commissioning of world-class projects, including TFM mixed ore and KFM[5] - The company is focused on a three-step development strategy to reduce costs, double production capacity, and achieve world-class standards[5] - The company is currently in a critical phase transitioning from "laying the foundation" to "stepping up," focusing on the construction of two world-class mines in the Democratic Republic of Congo[25] - The production of TFM copper metal reached 209,120 tons, an increase from 182,597 tons in 2020, while cobalt production rose to 18,501 tons from 15,436 tons[47] - The company achieved a significant reduction in operational costs, with a total decrease of RMB 1.6 billion across various operational units in 2021[49] Market and Pricing - The average price of copper in 2021 was $9,317 per ton, a 50.61% increase compared to 2020[30] - The average price of cobalt in 2021 was $23.98 per pound, reflecting a 56.02% year-over-year increase[30] - The average price of molybdenum oxide in 2021 was $15.9 per pound, an 82.76% increase from the previous year[30] - The average price of ammonium phosphate in 2021 reached $694 per ton, marking a significant 105.93% increase compared to 2020[30] - The copper market is expected to see optimistic growth in demand related to renewable energy and electric vehicles, despite supply uncertainties[40] - Cobalt demand is projected to continue increasing, primarily driven by the growth of electric vehicles, despite challenges in raw material supply from Africa[41] Strategic Initiatives - The company has implemented a "5233" management structure, enhancing organizational upgrades and cultural transformation[22] - Luoyang Molybdenum aims to become a respected, modern, world-class resource company, focusing on sustainable development and employee satisfaction[23] - The company plans to enhance production capacity and expand resource reserves to maintain industry-leading profitability in the face of the new energy industry revolution[22] - The company is advancing digitalization and intelligent mining to improve production efficiency and resource utilization[23] - The company aims to leverage financial tools to manage its balance sheet effectively and mitigate risks, emphasizing the cyclical nature of the mining industry[24] Governance and Compliance - The company has established a governance framework to protect shareholder interests and enhance accountability, adhering to the Corporate Governance Code[134] - The board consists of eight members, including two executive directors, three non-executive directors, and three independent non-executive directors, ensuring compliance with Hong Kong listing rules[137] - The company has established a formal and transparent procedure for determining the remuneration policy for directors and senior management, with details disclosed in the financial statements[150] - The Audit and Risk Committee has reviewed the efficiency of external audits and internal controls, providing recommendations to the board[155] - The company has established an internal audit system to ensure reliable financial reporting and effective risk management[171] Environmental and Social Responsibility - The company is committed to strengthening its ESG leadership position by enhancing sustainable development governance and responsible supply chain practices, particularly in the Democratic Republic of Congo[62] - The company received several honors, including the "China Industry-University-Research Cooperation Innovation Achievement Award" for its 5G-based mining technology and was recognized as a leading enterprise in Henan Province's manufacturing sector[124] - The company completed ecological restoration work covering an area of 381,000 square meters at the Sandaozhuang molybdenum-tungsten mine[116] Future Outlook - The company plans to deepen the integration of mining and trading sectors, leveraging IXM's competitive edge in global trade to enhance resource procurement and logistics coordination, particularly in key regions like Africa[60] - The company is focusing on market expansion in key regions such as Africa, South America, and Southeast Asia, targeting investments in new energy metals[51] - The company’s production guidance for 2022 includes TFM copper metal at 227,000 to 267,000 tons, cobalt metal at 17,500 to 20,500 tons, and molybdenum metal at 6,100 to 7,200 tons[56]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 (於中華人民共和國註冊成立的股份有限公司) （股份代號：03993） 二零二二年第一季度報告 洛陽欒川鉬業集團股份有限公司（「本公司」、「公司」或「洛陽鉬業」）董事會（「董 事 會」）欣 然 呈 遞 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 二 年 三 月 三 十 一 日 止 第 一 季 度 財 務 報 告 參 照《中 國 企 業 會 計 準 則》編 製 的 未 經 審 計 業 績。本 公 告 乃 根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則 第 13.09(2)條及第13.10B條以及香港法例第571章證券及期貨條例第XIVA部 項 下 之 內 幕 消 息 條 文 作 出。 * 僅供識別 ** 本 報 告 以 中，英 文 編 製。倘 中 英 文 版 本 有 任 何 歧 義， ...

Financial Performance - The company achieved operating revenue of RMB 84.82 billion, a year-on-year increase of 81%[3] - Net profit attributable to shareholders reached RMB 2.41 billion, up 139% year-on-year; net profit after deducting non-recurring gains and losses was RMB 1.40 billion, an increase of 176%[4] - EBITDA totaled RMB 7.1 billion, reflecting a 120% growth compared to the previous year[3] - The company reported a net cash flow from operating activities of RMB 1.32 billion, a decrease of 68.98% year-on-year[4] - The company reported a total profit of RMB 4.36 billion, a remarkable increase of 1,144.33% compared to RMB 350.52 million last year[63] - The company's net profit increased from RMB 1,002 million in the first half of 2020 to RMB 2,833 million in the first half of 2021, representing a growth of 182.73%[68] - Operating revenue rose by 81.45% from RMB 46,744 million in the first half of 2020 to RMB 84,816 million in the first half of 2021[69] - Gross profit surged to RMB 8,999 million, a significant increase of 1,181.91% compared to RMB 702 million in the same period last year[69] Cost Management - The company reduced production and operational costs by over RMB 360 million across its mining segments, with significant reductions in the Congo (USD 30 million) and Brazil (USD 8 million)[3] - Total operating costs amounted to RMB 77.69 billion, reflecting a 62.01% increase from RMB 47.95 billion year-on-year[63] - The company achieved a reduction in production operating costs exceeding RMB 360 million year-on-year, with the Congo (Kinshasa) copper-cobalt segment reducing cash costs by approximately USD 30 million[48] Market Conditions - The average price of molybdenum oxide in the international market rose by 40.77% to USD 12.74 per pound compared to the previous year[13] - Cobalt prices experienced fluctuations in H1 2021, with supply chain issues in Q1 leading to low inventory levels in China, while demand is expected to rise in the second half of the year[17] - Molybdenum demand in China increased by 25.17% YoY, driven by a 100%+ YoY growth in earnings of 17 listed steel companies, with molybdenum prices reaching around RMB 160,000/ton[19] - The global phosphate market saw prices increase by over 80% in H1 2021, with MAP prices in Brazil rising from $405-$410/ton to $753-$758/ton[26] - In the first half of 2021, copper prices experienced significant volatility, with LME prices reaching $10,747 per ton in March, a 38% increase from the end of 2020[28] Production and Operations - The company produced 98,149 tons of copper metal, 7,010 tons of cobalt metal, and 7,999 tons of molybdenum metal, with production guidance for copper ranging from 187,300 to 228,900 tons[42] - The company successfully launched the 10K project in Congo (Kinshasa) and completed the expansion project in Australia, enhancing production capacity[44] - The TFM copper-cobalt mine in the Democratic Republic of Congo is one of the largest and highest-grade copper-cobalt mines globally, with an area exceeding 1,500 square kilometers, solidifying the company's position in the new energy materials sector[100] Strategic Initiatives - The company signed a strategic cooperation agreement with Contemporary Amperex Technology Co., Ltd., becoming a long-term supplier of cobalt products for the world's largest power battery manufacturer[49] - The company is actively seeking and investing in high-quality projects in Africa, South America, and Southeast Asia, focusing on resources related to the new energy industry and domestic shortages[53] - The company is committed to enhancing its ESG leadership by developing short-term and long-term environmental goals and improving its sustainable development governance model[54] Financial Position - The company maintained a strong balance sheet with cash and cash equivalents of RMB 19.4 billion and unused credit facilities exceeding RMB 120 billion[3] - Total current assets increased by 10.09% to CNY 63,015,732,860.82 from CNY 57,239,645,671.56[58] - Total assets reached CNY 127,008,283,015.83, up 3.73% from CNY 122,441,249,889.87[62] - Total liabilities increased by 6.57% to CNY 80,042,640,406.79 from CNY 75,106,394,886.46[62] Employee and Governance - The company is establishing a multi-level compensation incentive system, including short-term and long-term incentives, to cover more core employees and enhance talent reserves[56] - The company’s management structure was upgraded, completing the election of a new board and enhancing operational efficiency[45] - The company has adhered to the corporate governance code as per the Hong Kong Listing Rules during the reporting period[135] Research and Development - Research and development expenses rose to RMB 64.36 million, up 42.16% from RMB 45.28 million year-on-year[63] - The company has a strong R&D team and has achieved multiple technological innovations, including the development of a smart energy management system for electric mining trucks, which won a first-class award in China[102] Risk Management - The company is actively monitoring global economic recovery uncertainties and potential risks associated with its overseas investments in various countries[105] - The company utilizes various derivative instruments for risk management, including commodity futures and forward contracts, to mitigate price volatility risks[181]