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 - The company's operating income for 2022 was approximately ¥172.99 billion, a decrease of 0.50% compared to ¥173.86 billion in 2021[23]. - Net profit attributable to shareholders for 2022 was approximately ¥6.07 billion, an increase of 18.82% from ¥5.11 billion in 2021[23]. - The net cash flow from operating activities increased by 149.63% to approximately ¥15.45 billion in 2022, compared to ¥6.19 billion in 2021[23]. - The net assets attributable to shareholders at the end of 2022 were approximately ¥51.70 billion, reflecting a growth of 29.75% from ¥39.85 billion at the end of 2021[23]. - Total assets increased by 20.06% to approximately ¥165.02 billion at the end of 2022, compared to ¥137.45 billion at the end of 2021[23]. - The company achieved an operating revenue of CNY 173 billion in 2022, with a net profit attributable to shareholders exceeding CNY 6 billion, representing a year-on-year growth of 19%[30]. - Basic earnings per share increased by 16.67% to CNY 0.28 in 2022 compared to CNY 0.24 in 2021[24]. - The weighted average return on equity rose to 13.41% in 2022, an increase of 0.48 percentage points from 12.93% in 2021[24]. - The company reported a total of CNY 1.68 billion in net profit after deducting non-recurring gains and losses, up from CNY 1.19 billion in 2021, marking a 47.37% increase[26]. - The company’s net profit increased from CNY 5.428 billion in 2021 to CNY 7.192 billion in 2022, representing a growth of 32.50%[88]. Dividend and Shareholder Returns - The company proposed a cash dividend of 0.8508 per 10 shares (including tax) for all shareholders, with no stock distribution or capital reserve conversion planned[4]. - The total cash dividend amount for 2022, including share repurchase, is projected to be RMB 2,320,162,642.77, which is 38.24% of the net profit attributable to ordinary shareholders[197]. - The cash dividend for 2021 was set at RMB 0.7125 per 10 shares, totaling RMB 1,524,344,600.04[193]. - The proposed cash dividend for 2022 is RMB 0.8508 per 10 shares, with an estimated total payout of RMB 1,820,227,909.77, representing a cash dividend ratio of approximately 30%[194]. Strategic Initiatives and Future Plans - The company aims to enhance management in Brazil and strategically shift operations in China, emphasizing a "mining + trade" synergy[12]. - The company plans to implement new incentive arrangements to align company growth with individual development, allowing more people to share in the benefits[14]. - The company aims to enhance its internal capabilities and achieve comprehensive improvements in management, cost, technology, and efficiency in 2022, which is designated as a "year of enhancement"[16]. - The company plans to continue expanding its market presence and enhancing its technological capabilities to drive future growth[106]. - The company is focused on accelerating the construction of key projects, including KFM copper-cobalt and TFM mixed ore projects, aiming for production in 2023[150]. - The company intends to leverage technological innovation to maximize resource value, particularly with the upcoming TFM mixed ore production[151]. - The company plans to deepen cooperation with CATL and advance projects in Africa and Bolivia related to battery and lithium industries[154]. Resource Management and Production - Significant breakthroughs in lithium resource acquisition were achieved in 2022, with plans to continue focusing on the new energy metal sector in 2023[13]. - The company is committed to exploring a management approach that combines Eastern and Western practices to enhance creativity and initiative among employees[14]. - The company is focusing on cost reduction and efficiency improvement across various segments, including management restructuring and technological innovation[32]. - The company has established a cobalt supply chain project in collaboration with Glencore and Eurasian Resources, becoming one of the first pilot projects for electric vehicle battery certification[33]. - The company produced 254,286 tons of copper metal in 2022, an increase of 21.5% from 209,120 tons in 2021[38]. - Cobalt metal production reached 20,286 tons, up 9.6% from 18,501 tons in 2021[38]. - Molybdenum metal production decreased to 15,114 tons, down 7.8% from 16,385 tons in 2021[38]. - The company expects 2023 production guidance for TFM copper metal to be between 2.9 million to 3.3 million tons and for TFM cobalt metal to be between 210,000 to 240,000 tons[148]. - The company aims to achieve production for KFM copper metal between 700,000 to 900,000 tons and for KFM cobalt metal between 240,000 to 300,000 tons in 2023[148]. - The company projects molybdenum metal production to be between 120,000 to 150,000 tons and tungsten metal (excluding Yulu Mining) to be between 65,000 to 75,000 tons in 2023[148]. Environmental, Social, and Governance (ESG) Initiatives - The company has set a carbon neutrality strategic goal for 2050, emphasizing its commitment to ESG management and transparency[15]. - The company is focused on responding to environmental and social risks, reinforcing its ESG initiatives to maintain its competitive edge in the international market[15]. - The company is committed to building a robust ESG framework across all business units and aims to maintain its status as a world-class ESG mining company[153]. - IXM maintained an MSCI rating of A, leading the industry globally, and initiated the establishment of an ESG system[33]. - The company has established a three-tier management structure for ESG strategy implementation, enhancing its long-term sustainability efforts[83]. Market Trends and Economic Outlook - The copper market is expected to see a concentrated increase in supply, with processing fees reaching the highest level since 2017, indicating a positive outlook for copper prices[139]. - The cobalt market is projected to experience continued demand growth, primarily driven by the expansion of power batteries despite the rise of lithium iron phosphate batteries[140]. - The molybdenum market is expected to maintain stable demand growth, supported by the development of high-end manufacturing and the production of molybdenum-containing stainless steel[141]. - The company anticipates stable demand for niobium due to structural adjustments in the domestic steel industry and increased use of alloy structural steel in infrastructure[143]. - The company expects phosphorous fertilizer demand to continue growing, supported by increasing crop planting areas in Brazil[144]. Corporate Governance and Management - The company has established a comprehensive corporate governance structure, adhering to relevant laws and regulations to enhance operational standards[158]. - The company held one annual general meeting during the reporting period, ensuring equal rights for all shareholders, particularly minority shareholders[159]. - The company has a performance evaluation system in place, with clear performance indicators for all positions, and has completed the first phase of its employee stock ownership plan[164]. - The company strictly complies with information disclosure obligations, ensuring transparency and timely communication with investors[165]. - The company maintains independence from its controlling shareholder in operations, procurement, and sales, ensuring its independent business capabilities[168]. Employee and Management Structure - The total number of employees in the parent company is 3,226, while the total number of employees in major subsidiaries is 9,528, resulting in a combined total of 12,754 employees[186]. - The company has 2,685 retired employees who require financial support[186]. - The employee composition includes 8,056 production personnel, 2,245 sales and other support staff, 860 technical staff, 336 financial staff, and 1,257 administrative staff[186]. - The company implements a broad-based salary system linked to job responsibilities and performance evaluations, ensuring a fair and consistent compensation structure[187]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 33.8431 million yuan[178]. - The company appointed Li Guojun as the Chief Financial Officer and Wang Hanyuan and Liang Wei as Vice Presidents in October 2022[180]. - The company has a total of 12 individuals in key management positions, reflecting a diverse leadership team[179].

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 CNY 40,701,711,226.41, a decrease of 2.49% compared to the same period last year[2]. - Net profit attributable to shareholders for the quarter was CNY 1,157,999,914.03, an increase of 0.73% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,237,757,938.46, a significant increase of 141.26% compared to the same period last year[2]. - The total operating revenue for the first three quarters of 2022 reached RMB 132.47 billion, an increase from RMB 126.56 billion in the same period of 2021, representing a growth of approximately 4.8%[22]. - The net profit attributable to shareholders of the parent company for the third quarter of 2022 was RMB 5.31 billion, compared to RMB 3.56 billion in the same quarter of 2021, reflecting a year-on-year increase of about 49.2%[23]. - The comprehensive income total for the third quarter of 2022 was RMB 14.84 billion, compared to RMB 2.53 billion in the same quarter of 2021, indicating a significant increase of approximately 485.5%[23]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 170,799,324,443.34, representing a year-on-year increase of 24.26%[5]. - The equity attributable to shareholders at the end of the reporting period was CNY 50,855,933,868.99, an increase of 27.63% compared to the previous year[5]. - The total assets of the company as of September 30, 2022, were RMB 95.26 billion, compared to RMB 70.96 billion at the end of 2021, showing substantial growth[19]. - The company's total liabilities as of September 30, 2022, were RMB 56.12 billion, reflecting an increase from RMB 43.12 billion at the end of 2021[19]. - The company's total liabilities increased to RMB 109.64 billion in the third quarter of 2022, compared to RMB 89.19 billion in the same quarter of 2021, marking an increase of about 23.0%[21]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 10,805,720,899.93, reflecting a year-on-year increase of 329.69%[4]. - The company's cash flow from operating activities for the first three quarters of 2022 was RMB 9.40 billion, compared to RMB 6.37 billion in the same period of 2021, representing an increase of about 47.5%[23]. - The net cash flow from operating activities for the first nine months of 2022 was approximately CNY 10.81 billion, a significant increase from CNY 2.51 billion in the same period of 2021, reflecting a year-over-year growth of over 330%[25]. - The ending balance of cash and cash equivalents was CNY 34.28 billion, compared to CNY 21.66 billion at the end of the same period last year, representing a year-over-year increase of approximately 58%[26]. - The company received CNY 81.51 billion in cash from borrowings, which is an increase from CNY 67.91 billion in the previous year, reflecting a growth of about 20%[25]. Production and Sales - The company reported a total production of 187,391 tons of copper, with a year-on-year increase of 23.02%, while sales decreased by 10.61% to 130,414 tons[15]. - Cobalt production reached 15,277 tons, reflecting a year-on-year increase of 37.63%, with sales increasing by 12.53% to 12,231 tons[15]. Investments and Projects - 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[17]. - The company signed an investment framework agreement with CATL and Sichuan Times, allowing CATL to indirectly hold 24.68% of the company’s shares[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 426,228[10]. - The company’s largest shareholder, Hongshang Industrial Holdings Group, holds 24.69% of the shares, totaling 5,333,220,000 shares[12]. Research and Development - Research and development expenses for the first three quarters of 2022 were RMB 316.79 million, significantly higher than RMB 111.82 million in the same period of 2021, showing an increase of approximately 183.5%[22]. Digital Transformation - The company has successfully implemented its SAP digital platform, enhancing operational efficiency and automating financial processes[17].

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 - CMOC reported a total revenue of ¥917.67 million for the first half of 2022, representing an 8% year-over-year increase[2]. - The net profit attributable to the parent company reached ¥41.48 million, marking a 72% increase compared to the same period last year[2]. - Operating cash flow surged to ¥85.02 million, reflecting a significant 545% year-over-year growth[2]. - The company's operating revenue for the first half of 2022 was approximately CNY 91.77 billion, an increase of 8.20% compared to CNY 84.82 billion in the same period last year[16]. - Net profit attributable to shareholders for the same period was approximately CNY 4.15 billion, representing a significant increase of 72.21% from CNY 2.41 billion year-on-year[16]. - The net cash flow from operating activities reached approximately CNY 8.50 billion, a remarkable increase of 544.71% compared to CNY 1.32 billion in the previous year[16]. - The basic earnings per share for the first half of 2022 was CNY 0.193, an increase of 72.32% compared to CNY 0.112 in the same period last year[17]. - The weighted average return on equity increased to 9.41%, up 3.21 percentage points from 6.20% in the previous year[17]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately CNY 3.47 billion, up 147.39% from CNY 1.40 billion year-on-year[16]. Production and Operations - The company reported a significant increase in copper production, reaching 125,387 tons, which is a 49% increase year-over-year[3]. - The cobalt production was recorded at 10,465 tons, reflecting a 49% increase compared to the previous year[3]. - In the first half of 2022, the company produced 125,387 tons of copper metal, 10,465 tons of cobalt metal, and 7,774 tons of molybdenum metal, among other products, aligning with its production guidance[30]. - In the first half of the year, copper production increased by 24.4%, cobalt production rose by 49.3%, and niobium production grew by 17.2% compared to the previous year, achieving record performance for the company[31]. - The TFM copper-cobalt mine in the Democratic Republic of Congo is one of the largest and highest-grade copper-cobalt mines globally, with a mining area exceeding 1,500 square kilometers, and the KFM copper-cobalt mine is set to commence production in 2023[21]. - The TFM copper-cobalt project is expected to increase annual copper production by 200,000 tons and cobalt production by 17,000 tons upon reaching full capacity[75]. Investment and Projects - The TFM project has an investment of $2.51 billion, with an annual processing capacity of 12.4 million tons, expected to commence production in 2023[5]. - The KFM project has an investment of $1.826 billion, with an annual processing capacity of 4.5 million tons, also expected to start production in the first half of 2023[5]. - The company aims to become a world-class resource company with a "mining + trading" development model, focusing on cost reduction and efficiency improvement as part of a three-step development strategy[20]. - The company is actively seeking investment and acquisition opportunities in Africa, South America, and Southeast Asia to foster new business growth[84]. Environmental, Social, and Governance (ESG) - CMOC's ESG rating remains at level A, aligning with major international mining companies[6]. - The company aims to apply for the "Copper Mark" in 2023, striving to meet international ESG standards in the copper industry[6]. - The company has established a three-tier management structure for ESG strategy, ensuring compliance and sustainable development practices across all operational units[24]. - The company has set long-term visions and short-term performance goals for climate change and biodiversity, actively working on energy-saving and emission-reduction initiatives[25]. - The company aims to achieve "zero fatalities" and "zero pollution" in its HSE initiatives, receiving recognition for its safety and environmental efforts[34]. - The company is committed to maintaining its ESG leadership and improving sustainable development governance[85]. Market Conditions and Pricing - The average domestic market price for molybdenum concentrate rose by 48.64% year-on-year, reaching RMB 2,616.00 per ton in the first half of 2022[40]. - The international market price for cobalt increased by 74.74% year-on-year, reaching $36.73 per pound in the first half of 2022[41]. - In the first half of 2022, the price of copper reached a peak of $10,000 per ton in March, but later fell significantly due to COVID-19 lockdowns in East China and global economic concerns, ending the period under pressure[43]. - Cobalt prices peaked at $39.40 per pound in May 2022 but dropped to around $33 per pound by the end of June due to domestic economic impacts and reduced demand[44]. Financial Management and Strategy - The company maintains a stable dividend policy with an average payout ratio exceeding 50% since its A-share listing, supported by strong cash generation capabilities[29]. - The company has established emergency response plans for environmental incidents in all subsidiaries within China, ensuring effective rescue and control of environmental impacts[115]. - The company has enhanced its asset-liability management and accelerated information system construction to support strategic projects[86]. - The company is focusing on talent strategy and incentive systems to meet the demands of overseas project construction and capacity enhancement[87]. Shareholder and Corporate Governance - The company’s actual controller and major shareholders have committed to avoiding competition with the company since January 2014, with commitments being strictly adhered to[123]. - The company has maintained its business independence as per commitments made by its actual controller and major shareholders[123]. - The company has not faced any significant adverse impacts from legal obligations or debts during the reporting period[126]. - The company has reported no overdue guarantees or significant overdue amounts during the reporting period[129]. Research and Development - Research and development expenses surged by 285.84% to 248.34 million RMB, indicating a significant increase in investment in innovation[61]. - The company reported a significant increase in research and development expenses, totaling CNY 248.34 million, compared to CNY 64.36 million in the same period last year[154].

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]

Financial Performance - Revenue for the first quarter reached CNY 44,524,843,547.77, an increase of 11.55% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 1,792,062,256.48, representing a significant increase of 77.88% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,681,067,551.32, up 234.04% from the previous year[3] - Basic earnings per share rose to CNY 0.084, an increase of 78.72% year-on-year[3] - The total comprehensive income for Q1 2022 was CNY 1.17 billion, compared to CNY 39.54 million in Q1 2021, indicating a strong recovery[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 166,579,325,103.43, reflecting a growth of 21.19% compared to the end of the previous year[4] - Total current assets reached approximately CNY 99.87 billion, up from CNY 70.96 billion at the end of 2021, representing an increase of about 40.8%[18] - Total assets as of March 31, 2022, amounted to approximately CNY 166.58 billion, compared to CNY 137.45 billion at the end of 2021, reflecting a growth of about 21.3%[19] - Total current liabilities increased to approximately CNY 73.79 billion from CNY 50.66 billion, marking a rise of about 45.5%[20] - Total liabilities reached approximately CNY 117.12 billion as of March 31, 2022, compared to CNY 89.19 billion at the end of 2021, indicating an increase of about 31.3%[20] - The company's total equity as of March 31, 2022, was approximately CNY 49.46 billion, up from CNY 48.26 billion at the end of 2021, showing a growth of about 2.5%[20] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,098,206,574.81, a decrease of 142.73% compared to the previous year[3] - The company reported a net cash flow from operating activities of -CNY 1.10 billion in Q1 2022, a decline from CNY 2.57 billion in Q1 2021[23] - Cash inflow from financing activities reached $46.74 billion in Q1 2022, up from $34.70 billion in Q1 2021[24] - Net cash flow from financing activities increased to $15.13 billion in Q1 2022, compared to $5.68 billion in Q1 2021[24] - The ending balance of cash and cash equivalents was $28.96 billion in Q1 2022, significantly higher than $15.30 billion in Q1 2021[24] Investments and Production - The company reported a significant increase in investment income by 1,246.24% due to the production of a joint venture[6] - The company achieved a significant increase in niobium production, with a year-on-year increase of nearly 30%[16] - The company’s net profit from niobium and phosphate reached a new quarterly high in recent years due to effective management measures[16] - The company experienced a significant increase in investment income, reporting CNY 134.27 million in Q1 2022 compared to CNY 9.97 million in Q1 2021[21] - The TFM mixed ore project is on track to be completed and put into production next year, which will double the copper-cobalt production capacity in the KFM area compared to 2020[17] Market and Shareholder Information - The total number of common shareholders is 442,336, with the largest shareholder, Hongshang Industrial Holding Group, holding 533,322 shares, accounting for 24.69%[9] - The top ten shareholders hold a total of 1,042,000 shares, representing a significant portion of the company's equity[10] - The company’s repurchased shares amount to 99,999,964 shares as of the end of the reporting period[13] Operational Efficiency - The company has implemented cost reduction and efficiency enhancement measures, which have shown significant results in the first quarter of 2022[16] - The total operating costs for Q1 2022 were CNY 38.55 billion, up from CNY 36.60 billion in Q1 2021, reflecting increased operational expenses[21] - The company plans to continue expanding its market presence and developing new technologies to enhance its competitive edge in the industry[17] - Research and development expenses increased significantly to CNY 131.49 million, compared to CNY 20.40 million in the same period last year, reflecting a focus on innovation[21]