股票代码：603993 股票简称：洛阳钼业 编号：2024—038 洛阳栾川钼业集团股份有限公司 第七届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 洛阳栾川钼业集团股份有限公司（以下简称"本公司"或"公司"） 第七届董事会第二次会议通知于 2024 年 8 月 9 日以电子邮件方式发 出，会议于 2024 年 8 月 23 日以现场结合通讯方式召开。会议应参加 董事 8 名，实际参加董事 8 名。公司全体监事、首席财务官、董事会 秘书和董事会办公室相关工作人员列席了本次会议。本次会议的召 集、召开符合相关法律法规和本公司《公司章程》及有关规定，会议 决议合法、有效。会议由公司董事长袁宏林先生主持，经与会董事充 分讨论，审议通过如下议案： 该议案的表决结果为：8 票赞成, 0 票反对, 0 票弃权。 二、审议通过关于本公司增加2024年度日常关联交易预计金额的 议案。 该议案已经第七届董事会审计及风险委员会第二次会议及第七 届董事会第一次独立董事专门会议审议通过。 董事会认为该日常关联交易不存在损 ...

股票代码：603993 股票简称：洛阳钼业 编号：2024—042 洛阳栾川钼业集团股份有限公司 关于高级管理人员职务变动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 2 公司董事会对周俊先生在任职期间所做出的贡献表示诚挚谢 意。 1 特此公告。 洛阳栾川钼业集团股份有限公司董事会 二零二四年八月二十三日 洛阳栾川钼业集团股份有限公司（以下简称"公司"）董事会近 日收到公司副总裁周俊先生的辞职报告。因个人原因，周俊先生申 请辞去公司副总裁职务。 根据《公司法》《公司章程》等有关规定，公司董事会接受其辞 呈，自 2024 年 8 月 23 日起生效。周俊先生确认与公司董事会并无 意见分歧，亦无任何与其辞任有关的，须提请公司股东或债权人注 意的事项。截至本公告披露日，周俊先生直接持有本公司股份 225 万股，占公司总股本的 0.01%。周俊先生将继续严格遵守《上市公 司股东减持股份管理暂行办法》、《上海证券交易所股票上市规则》 等法律法规的相关规定及相关承诺。此外，周俊先生不存在应当履 行而未履行的承诺事项。 ...

股票代码：603993 股票简称：洛阳钼业 编号：2024—040 洛阳栾川钼业集团股份有限公司 关于增加2024年度日常关联交易预计金额的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 重要内容提示： 本事项已经公司第七届董事会第二次会议审议通过，无需 提交股东大会批准。 本次增加预计金额所涉及的日常关联交易不存在对公司持 续经营能力、财务状况、经营成果造成不利影响的情形，不存在 损害公司股东特别是中小股东利益的情形，不会使公司对关联方 形成较大依赖，也不会对公司独立性构成影响。 一、现有日常关联交易预计金额及调整情况 1.日常关联交易履行的审议程序 2024年1月19日，公司第六届董事会第十五次临时会议审议通过 《关于本公司2023年度日常关联交易情况和2024年度预计日常关联 交易的议案》，批准向关联方洛阳富川矿业有限公司（以下简称"富 川矿业"）购买产品或销售产品、提供加工服务。2024年8月23日， 公司第七届董事会审计及风险委员会第二次会议、第七届董事会第一 次独立董事专门会议和第七届董事会第二次会议分别审 ...

洛阳栾川钼业集团股份有限公司 第七届监事会第二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 洛阳栾川钼业集团股份有限公司（以下简称"本公司"、"公司"） 第七届监事会第二次会议通知于 2024 年 8 月 9 日以电子邮件方式发 出，会议于 2024 年 8 月 23 日以现场结合通讯方式召开，会议应参加 监事 3 名，实际参加监事 3 名。公司首席财务官、董事会秘书和董办 相关人员列席了本次会议。本次会议的召集、召开符合相关法律法规 和公司章程的有关规定，会议决议合法、有效。会议审议通过了以下 议案： 股票代码：603993 股票简称：洛阳钼业 编号：2024—039 2、公司2024年半年度报告的内容和格式分别符合中国证券监督 管理委员会、上海证券交易所和香港联合交易所有限公司的有关要 求，所包含的信息真实、准确、完整地反映了公司2024年半年度的经 营成果和财务状况，不存在虚假记载、误导性陈述或重大遗漏； 3、监事会在出具本意见前，未发现参与2024年半年度报告编制 和审议的人员有违反保密规定的行为。 ...

股票代码：603993 股票简称：洛阳钼业 编号：2024—043 洛阳栾川钼业集团股份有限公司 关于召开2024年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 ●投资者可于 2024 年 8 月 23 日(星期五)至 8 月 29 日(星期 四)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"）将于 2024 年 8 月 23 日披露公司 2024 年半年度报告。为便于广大投资者更全面 1 深入地了解公司 2024 年上半年经营成果、财务状况，公司计划于 2024 年 8 月 30 日上午 10:00-11:30 举行 2024 年半年度业绩说明会，就投 资者普遍关心的问题进行交流。 一、业绩说明会类型 本次投资者说明会以视频直播和网络互动形式召开，公司将针对 2024年上半年经营成果及财务指标的具体情况与投资者进行互动交 流和沟 ...

Financial Performance - The company's revenue reached a historical high of 102.818 billion CNY, representing a year-on-year increase of 18.56%[16]. - The net profit attributable to shareholders also hit a record high of 5.417 billion CNY, with a remarkable year-on-year growth of 670.43%[16]. - Operating cash flow was robust at 10.779 billion CNY, reflecting a year-on-year increase of 23.02%[16]. - The company's revenue for the first half of 2024 was approximately CNY 102.82 billion, an increase of 18.56% from CNY 86.73 billion in the same period last year[49]. - Net profit attributable to shareholders surged by 670.43% to approximately CNY 5.42 billion in the first half of 2024, compared to CNY 703.14 million in the same period of 2023[49]. - The basic earnings per share increased to CNY 0.25, reflecting a 733.33% increase compared to CNY 0.03 in the previous year[50]. - The weighted average return on equity rose to 8.82%, an increase of 7.50 percentage points from the previous year[50]. - IXM's total assets grew by 7.46% to approximately CNY 185.88 billion, up from CNY 172.97 billion at the end of the previous year[49]. - The company reported a net cash flow from operating activities of approximately CNY 10.78 billion, representing a 23.02% increase from CNY 8.76 billion in the same period last year[49]. Production and Operations - The Congo (DRC) segment generated revenue of 24.368 billion CNY, marking a significant year-on-year growth of 444.78%[23]. - The TFM mine achieved an annual production capacity of 450,000 tons of copper and 37,000 tons of cobalt, with KFM reaching 150,000 tons of copper and over 50,000 tons of cobalt[23]. - Copper production reached 313,800 tons, a year-on-year increase of approximately 101%, while cobalt production surged to 54,000 tons, up about 178%[62]. - The company’s niobium production surpassed 5,000 tons for the first time, reflecting a year-on-year growth of approximately 8%[62]. - The TFM project achieved an annual production capacity of 450,000 tons of copper and 37,000 tons of cobalt, positioning it as the fifth-largest copper mine and the second-largest cobalt mine globally[63]. - TFM achieved a production target of 313,788 tons of copper in the first half of 2024, with a full-year guidance of 520,000-570,000 tons[67]. - KFM's cobalt production reached 54,024 tons in the first half of 2024, with a guidance of 60,000-70,000 tons for the full year[67]. Market and Trading - IXM's physical trading volume for copper increased by 29% year-on-year, reaching 1,628,000 tons in the first half of 2024, compared to 1,262,000 tons in the same period of 2023[39]. - IXM's nickel trading volume saw a significant increase of 163%, reaching 279,000 tons in the first half of 2024, compared to 106,000 tons in the same period of 2023[39]. - The company achieved a revenue of RMB 102.8 billion in the first half of the year, representing a year-on-year growth of 19%[61]. - The mineral trading segment's revenue was ¥92.97 billion, reflecting a year-on-year increase of 20.09%, with a gross margin of 4.96%[94]. - Copper revenue reached approximately $20.03 billion, with a year-over-year increase of 368.88% and a gross margin of 52.36%, up by 23.29 percentage points[95]. - Cobalt revenue was about $4.34 billion, showing a significant year-over-year increase of 1,541.59% and a gross margin of 42.17%, up by 155.42 percentage points[95]. Risk Management - The company actively manages risks related to price fluctuations, foreign exchange, and liquidity to ensure sustainable long-term value creation[38]. - IXM's strategy includes a combination of spot and futures trading to mitigate risks associated with market cycles, enhancing profitability stability[37]. - The company is exposed to market risks due to fluctuations in commodity prices, which could significantly impact operational performance[120]. - The company plans to mitigate price volatility risks through cost reduction, efficiency improvements, and prudent use of financial derivatives[120]. - The company is actively managing interest rate risks by using interest rate swap tools to lock in rates on USD loans[122]. - The company faces foreign exchange risks primarily related to non-local currency assets and liabilities, particularly in USD and other currencies[123]. - The company has established a comprehensive risk management framework to monitor and mitigate various risks, including credit and liquidity risks in its trading operations[124]. Environmental, Social, and Governance (ESG) - The company has established a world-class ESG management system, leading the mining industry in global ESG rankings[59]. - The company is committed to maintaining its leading ESG position globally, implementing carbon neutrality plans and enhancing its ESG management system[132]. - The company has implemented measures to improve air quality and respond to heavy pollution weather, resulting in significant on-site management improvements[164]. - The company has established a community fund in Congo (Kinshasa) to support local economic and social development[168]. - The company invested a total of RMB 2.17 million in poverty alleviation and rural revitalization projects, benefiting 3,000 individuals[166]. - The company’s smelting unit was awarded the title of "2023 Henan Province Green Factory," enhancing its industry reputation[162]. Employee and Governance - The company employed a total of 12,038 staff, including 7,392 production personnel and 1,071 technical personnel[145]. - The company has implemented a leadership development program targeting mid-level and senior management, enhancing strategic consensus and collaboration[147]. - Employee training includes safety awareness and skills improvement, with a focus on ESG and HSE capabilities to support sustainable development[147]. - The company has established a monthly and annual assessment system to incentivize employees based on productivity and performance[146]. - The company has a strong governance structure and strategic partnerships, ensuring long-term stability and growth[55]. Legal and Compliance - The company faced a lawsuit from Chengling Molybdenum Industry, claiming damages of 135.17 million RMB, but the court ruled in favor of the company, requiring only 2 million RMB in compensation[172]. - The company has no plans for further shareholding increases by its major shareholders in the next 36 months, ensuring stability in ownership[66]. - The company has taken effective measures to avoid competition with its major shareholders, as per commitments made during its IPO[66]. - The company reported that its major shareholders have fulfilled their obligations and there are no significant debts due[174]. - The company has a long-term commitment to avoid related party competition, ensuring compliance with legal and regulatory standards[66]. Financial Management - The total amount of guarantees provided by the company, excluding those to subsidiaries, is CNY 2,040,116.51 thousand, which accounts for 45.69% of the company's net assets[176]. - The total guarantees, including those to subsidiaries, amount to CNY 28,324,590.43 thousand[176]. - The company has engaged in various financial management contracts, with a total amount of CNY 4,716,704.17 thousand[177]. - The annualized return rates for structured deposits range from 1.2% to 4.39%[177]. - The company’s total interest-bearing debt includes RMB 2.174 billion in non-financial corporate debt financing instruments, with no company credit bonds maturing in the next six months[195].

特此公告。 股票代码：603993 股票简称：洛阳钼业 编号：2024—041 洛阳栾川钼业集团股份有限公司 关于聘任高级管理人员的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 2024年8月23日，洛阳栾川钼业集团股份有限公司（以下简称"公 司"）召开第七届董事会提名及管治委员会、第七届董事会第二次会 议，分别审议通过关于本公司聘任高级管理人员的事项，同意聘任张 立群先生为公司副总裁，任期至公司2026年年度股东大会召开之日 止。 截至本公告日，张立群先生分别持有80,000股公司A股股份和 78,000股公司H股股份，不存在《公司法》《上海证券交易所股票上 市规则》等法律法规及《公司章程》规定禁止任职的情形。任职资格 符合《公司法》等法律法规关于高级管理人员任职资格要求。 董事会谨此欢迎张立群先生履新。 洛阳栾川钼业集团股份有限公司董事会 二零二四年八月二十三日 简历： 张立群先生，出生于一九八零年四月。毕业于亚洲城市大学 DBA 专业，博士学位。二零零三年至二零一二年，历任浙江恒逸聚合物有 限公司采购部经理、营 ...

Financial Performance - Revenue reached a record high of RMB 102.818 billion, a year-on-year increase of 18.56%[10] - Net profit attributable to shareholders reached a record high of RMB 5.417 billion, a year-on-year increase of 670.43%[10] - Operating cash flow was RMB 10.779 billion, a year-on-year increase of 23.02%[10] - Total assets grew to RMB 185.880 billion, an increase of 7.46% compared to the end of 2023[10] - Revenue for the reporting period (1-6 months) reached RMB 102.82 billion, an increase of 18.56% year-on-year[31] - Net profit attributable to shareholders of the listed company surged to RMB 5.42 billion, a 670.43% increase compared to the same period last year[31] - Basic earnings per share (EPS) rose to RMB 0.25, a 733.33% increase year-on-year[32] - Weighted average return on equity (ROE) increased by 7.50 percentage points to 8.82%[32] - Revenue reached RMB 102.8 billion, a year-on-year increase of 19%, with net profit attributable to shareholders of RMB 5.4 billion, a year-on-year increase of 670%[42] - IXM achieved a net profit attributable to shareholders of RMB 664 million[42] - Revenue for the reporting period was RMB 102.82 billion, an increase of 18.56% year-over-year[64] - Operating costs increased by 1.11% to RMB 83.92 billion[64] - R&D expenses increased by 27.41% to RMB 137.21 million[64] - Investment income rose by 54.21% to RMB 340.84 million[64] - Net cash flow from operating activities increased by 23.02% to RMB 10.78 billion[64] - Total revenue for the first half of 2024 reached RMB 102.82 billion, a 18.5% increase compared to RMB 86.73 billion in the same period of 2023[194] - Net profit for the first half of 2024 was RMB 11.15 billion, a significant increase from RMB 1.63 billion in the first half of 2023[194] - Research and development expenses for the first half of 2024 were RMB 137.21 million, a 27.4% increase compared to RMB 107.69 million in the same period of 2023[194] - Net profit for the first half of 2024 reached 6,330,391,543.37 RMB, a significant increase from 615,196,557.78 RMB in the same period of 2023[195] - Net profit attributable to the parent company's shareholders in the first half of 2024 was 5,417,259,340.41 RMB, compared to 703,144,213.69 RMB in the first half of 2023[195] - Basic and diluted earnings per share for the first half of 2024 were both 0.25 RMB, up from 0.03 RMB in the same period of 2023[195] - Operating income for the first half of 2024 was 3,192,959,014.08 RMB, a decrease from 3,957,485,958.31 RMB in the first half of 2023[196] - Operating costs for the first half of 2024 were 1,645,500,096.88 RMB, down from 1,957,997,509.46 RMB in the same period of 2023[196] - R&D expenses for the first half of 2024 increased to 115,106,483.64 RMB from 93,339,296.93 RMB in the first half of 2023[196] - Investment income for the first half of 2024 was 151,535,218.88 RMB, a significant improvement from a loss of 52,060,586.51 RMB in the same period of 2023[196] - Total comprehensive income for the first half of 2024 was 6,665,599,216.85 RMB, more than double the 3,063,546,280.19 RMB reported in the first half of 2023[195] - Foreign currency translation differences contributed 334,723,216.58 RMB to other comprehensive income in the first half of 2024, compared to 1,864,371,809.05 RMB in the same period of 2023[195] - Net profit from continuing operations in the first half of 2024 was 6,330,391,543.37 RMB, up from 517,309,623.75 RMB in the first half of 2023[195] - Operating cash flow increased to RMB 10.78 billion in H1 2024, up from RMB 8.76 billion in H1 2023, reflecting improved cash generation from core operations[197] - Sales revenue from goods and services reached RMB 96.15 billion in H1 2024, a 11.1% increase compared to RMB 86.52 billion in H1 2023[197] - Investment cash outflow decreased to RMB 13.48 billion in H1 2024 from RMB 15.45 billion in H1 2023, indicating reduced capital expenditure[197] - Net cash from financing activities rose to RMB 982.56 million in H1 2024, a significant increase from RMB 211.13 million in H1 2023[198] - Cash and cash equivalents at the end of H1 2024 stood at RMB 30.92 billion, up from RMB 26.12 billion at the beginning of the period[198] - Parent company's operating cash flow decreased to RMB 1.36 billion in H1 2024 from RMB 2.70 billion in H1 2023, showing a decline in cash generation at the parent level[199] - Parent company's investment cash inflow surged to RMB 10.20 billion in H1 2024, a 173.6% increase from RMB 3.73 billion in H1 2023[199] - Parent company's investment cash outflow increased significantly to RMB 12.72 billion in H1 2024 from RMB 3.64 billion in H1 2023, reflecting higher investment activity[199] - Cash inflows from financing activities decreased to 18.34 billion in H1 2024 from 20.72 billion in H1 2023[200] - Cash outflows from financing activities decreased to 17.90 billion in H1 2024 from 18.30 billion in H1 2023[200] - Net cash flow from financing activities dropped significantly to 441.30 million in H1 2024 from 2.41 billion in H1 2023[200] - Cash and cash equivalents decreased by 726.25 million in H1 2024 compared to an increase of 5.20 billion in H1 2023[200] - Ending cash and cash equivalents balance stood at 8.70 billion in H1 2024, down from 14.10 billion in H1 2023[200] Production and Operations - The Congo (DRC) segment achieved revenue of RMB 24.368 billion, a year-on-year increase of 444.78%, with a gross profit of RMB 12.316 billion[15] - TFM mine has an annual copper production capacity of 450,000 tons and a cobalt production capacity of 37,000 tons[15] - KFM mine has an annual copper production capacity of 150,000 tons and a cobalt production capacity of over 50,000 tons[15] - TFM and KFM achieved significant cost reduction and efficiency improvement, with copper and cobalt recovery rates significantly increased[16] - TFM became the first Chinese-operated mine in Africa to receive the Copper Mark certification[16] - In China, the company achieved revenue of RMB 3.881 billion and gross profit of RMB 1.553 billion in the first half of 2024[17] - The recovery rate of tungsten from difficult-to-process ore at Sandaozhuang and molybdenum at Shangfangou achieved breakthroughs[18] - In Brazil, CMOC Brasil achieved a record high niobium production, with revenue of RMB 3.112 billion, a year-on-year increase of 5.14%, and gross profit of RMB 826 million[19] - IXM's physical trade volume of copper increased by 29% year-on-year to 1.628 million tons in the first half of 2024[24] - IXM's physical trade volume of nickel surged by 163% year-on-year to 279,000 tons in the first half of 2024[24] - The company's Brazilian operations saw a significant decline in costs and improved operating cash flow compared to the same period last year[20] - The company's Chinese operations overcame challenges of declining ore grades and falling molybdenum prices to exceed budget targets[17] - The company's Brazilian operations were ranked as the 8th largest mining company in Brazil by the "Financial 1000" magazine[19] - The company's TFM copper-cobalt mine in the Democratic Republic of Congo became the first mine in Africa to receive the Copper Mark certification[35] - The company's KFM mine is the world's largest cobalt mine, and its Brazilian niobium mine is the world's second-largest niobium mine[37] - Copper production reached 313,788 tons, a year-on-year increase of 101%, and cobalt production reached 54,024 tons, a year-on-year increase of 178%[43] - TFM project achieved full production capacity of 450,000 tons of copper and 37,000 tons of cobalt annually, making it the world's fifth-largest copper mine and second-largest cobalt mine[44] - Niobium production exceeded 5,000 tons, a year-on-year increase of 8%, and phosphate production reached 583,300 tons, a year-on-year increase of 6%[43] - Molybdenum production was 7,349 tons, and tungsten production was 4,020 tons[43] - The company's ESG performance maintained an AA rating from MSCI, ranking in the top 19% of the global non-ferrous metals industry[47] - The company's cash and cash equivalents stood at RMB 30.9 billion, with operating cash flow of RMB 10.8 billion[42] - The company's indirect holdings in TF Holdings Limited and KFM Holding Limited, both involved in copper and cobalt mining, are 80.00% and 71.25% respectively, with revenues of 14,450,266 thousand CNY and 9,281,300 thousand CNY[91][92] - IXM, the company's trading business, reported revenues of 93,852,346 thousand CNY, with total assets of 39,470,868 thousand CNY and net assets of 8,363,279 thousand CNY[92] - The company's total number of employees in the first half of 2024 was 12,038, including 7,392 production personnel, 1,856 sales and support staff, 1,071 technical personnel, 351 financial personnel, and 1,368 administrative personnel[136] - The company's social insurance contributions in China include 16% for pension insurance, 7.5-10% for medical insurance, 0.5-0.7% for unemployment insurance, 0.16-1.43% for work injury insurance, and 12% of the monthly basic salary for housing provident fund[137] - In the Democratic Republic of Congo, the company pays 13% of social insurance for employees, covering full medical expenses for employees and their families, and offers a loyalty bonus after 5 years of service[137] - In Brazil, the company pays 37% of social insurance and seniority guarantee funds, providing double salary during annual leave, medical and dental insurance for employees and their families, and a loyalty bonus[137] - The company has implemented the L.D.P. "Backbone" and "Peak" leadership development programs to enhance the leadership capabilities of middle and senior managers, fostering strategic consensus and collaboration[138] - Training programs focus on improving employee safety awareness and operational skills, including specialized safety training for specific job roles[138] - The company has established a talent pool and introduced mentor allowances to promote efficient and structured talent development[138] - Training initiatives also cover ESG and HSE aspects, supporting the company's sustainable development goals[138] - The company has committed to a cash dividend payout ratio exceeding 40% of net profit attributable to the parent company for three consecutive years from 2024 to 2026[140] - Shareholders, including Hongshang Group and Yu Yong, have made long-term commitments to avoid同业竞争 and关联交易, ensuring business independence[139][140] - Ningde Times and its subsidiary Sichuan Times have pledged not to seek controlling rights or further increase their shareholding in the company within the next 36 months[140] - The company was ordered to pay CNY 2 million in damages to Chengling Molybdenum for various losses, as per the final judgment by the Henan High Court in 2020[141] - Chengling Molybdenum's application for retrial was rejected by the Supreme People's Court in 2021[141] - The Henan Provincial People's Procuratorate decided not to support Chengling Molybdenum's supervision application in 2024[141] - The company's total guarantee amount for non-subsidiary entities is CNY 2,379,074.08[144] - The company's total guarantee balance at the end of the reporting period is CNY 2,040,116.51[144] - The company's total guarantee amount for subsidiaries is CNY 9,790,830.60[144] - The company's total guarantee amount, including subsidiaries, is CNY 28,324,590.43, accounting for 45.69% of the company's net assets[144] - The company's entrusted wealth management amount is CNY 1,126,704.17, with no fixed maturity date[146] - The company's total number of ordinary shareholders at the end of the reporting period was 199,699[149] - The top shareholder, Hongshang Industrial Holding Group Co., Ltd., holds 533,322,000 shares, accounting for 24.69% of the total shares[150] - The second-largest shareholder, Luoyang Mining Group Co., Ltd., holds 532,978,040 shares, representing 24.68% of the total shares[150] - HKSCC NOMINEES LIMITED holds 359,904,770 shares, making up 16.66% of the total shares[150] - The company's repurchase account held 204,930,407 shares at the end of the reporting period[151] - The total amount of entrusted wealth management and structured deposits as of the reporting date was 4,716,704.17 thousand RMB[148] - The company's structured deposits with Guangfa Bank amounted to 1,000,000.00 RMB with floating returns of 1.6% or 2.53%[147] - The company's structured deposits with SPD Bank amounted to 750,000.00 RMB with floating returns of 1.2%, 2.5%, or 2.7%[147] - The company's structured deposits with an unnamed bank amounted to 600,000.00 RMB with floating returns of 1.8% or 2.2%[147] - The company's total entrusted wealth management and structured deposits principal and returns have been recovered as of the reporting date[147] - Luoyang Mining Group holds 5,329,780,425 A shares, representing 30.17% of the total A shares[154] - Sichuan Times New Energy Technology holds 5,329,780,425 A shares, representing 30.17% of the total A shares[154] - Hongshang Industrial Holdings Group holds 5,030,220,000 A shares, representing 28.47% of the total A shares[154] - BlackRock, Inc. holds 271,782,169 H shares in long positions, representing 6.91% of the total H shares[154] - The company holds 204,930,407 A shares in its repurchase account, intended for employee stock ownership or equity incentive plans[161] - The company issued a corporate bond "22 Luoshe Y1" with a total amount of 1,000,000,000 yuan, maturing on December 16, 2025, with an annual interest rate of 5.62%[162] - The company issued a green medium-term note (MTN001) with a balance of 1.5 billion yuan, used for energy-saving projects such as motor and air compressor upgrades, and the purchase of associated ore[171] - The green projects funded by the issuance achieved energy savings of 4.8098 million kWh, reduced 1,450.15 tons of standard coal, and cut CO2 emissions by 3,063.34 tons in the first half of 2024[173] - The company utilized 230.03 million tons of associated ore in the first half of 2024, reducing mineral resource waste by 50,100 tons compared to the minimum requirement set by the Henan Provincial Department of Natural Resources[173] - The company's 2021 green medium-term note (G-1) was maintained at G-1 level by China Chengxin Green Finance Technology, confirming compliance with national green industry guidelines[174] - The company's bond (22 Luoyi Y1) has a balance of 10 billion yuan and is classified as equity under accounting standards[174] - The company achieved a sustainable development performance target for the Sandaozhuang mining area in 2023, with a unit energy consumption of 0.19 kgce/t, significantly lower than the target of 0.23 kgce/t[176] - In 2023, the Sandaozhuang mining area processed 19.9042 million tons of ore, consumed 13.5852 million kWh of electricity, 1,484.30 tons of diesel, and 10.94 tons of gasoline[176] - The company saved 1,280.28 tons of standard coal and reduced CO2 emissions by 1,756.86 tons in 2023 compared to the 2020 baseline[176] - The company's non-operating receivables and fund borrowings decreased from RMB 2.763 billion at the beginning of the reporting period to RMB 2.223 billion at the end of the reporting period[178] - The company's interest-bearing debt decreased by 10.34% from RMB 11.716 billion at the beginning of the reporting period to RMB 10.505 billion at the end of the reporting period[180] - The company's consolidated interest-bearing debt increased by 7.68% from RMB 48.394 billion at the beginning of the reporting period to RMB 52.111 billion at the end of the reporting period

Financial Performance - The company's operating revenue reached a historical high of RMB 102.818 billion, representing a year-on-year increase of 18.56%[10]. - The net profit attributable to shareholders also hit a record high of RMB 5.417 billion, with a significant year-on-year growth of 670.43%[10]. - Operating cash flow remained robust at RMB 10.779 billion, reflecting a year-on-year increase of 23.02%[10]. - The company's operating revenue for the first half of the year reached ¥102.82 billion, an increase of 18.56% compared to ¥86.73 billion in the same period last year[31]. - Net profit attributable to shareholders was ¥5.42 billion, a significant increase of 670.43% from ¥703.14 million in the previous year[31]. - The net cash flow from operating activities was ¥10.78 billion, reflecting a growth of 23.02% compared to ¥8.76 billion in the same period last year[31]. - Basic earnings per share rose to ¥0.25, up 733.33% from ¥0.03 in the previous year[32]. - The company reported a significant increase in tax expenses, which rose by 376.74% to CNY 4.82 billion from CNY 1.01 billion year-on-year[64]. - The company reported a net profit for the first half of 2024 of ¥6.33 billion, compared to ¥615 million in the first half of 2023, indicating a significant improvement[194]. Production and Operations - All major products, including copper, cobalt, and tantalum, achieved production completion rates above the annual production guidance median[13]. - In the Democratic Republic of Congo, the company operates two world-class mines, TFM and KFM, with TFM having an annual copper production capacity of 450,000 tons and cobalt production capacity of 37,000 tons, while KFM has a capacity of 150,000 tons of copper and over 50,000 tons of cobalt[15]. - Copper production reached 313,788 tons, a year-on-year increase of approximately 101%, while cobalt production surged to 54,024 tons, up about 178%[43]. - The TFM project achieved an annual production capacity of 450,000 tons of copper and 37,000 tons of cobalt, making it the fifth largest copper mine and the second largest cobalt mine globally[44]. - The company completed mining activities with a total of 951.3 thousand tons from the San Dao Zhuang molybdenum-tungsten mine and 251.8 thousand tons from the Shang Fang Gou molybdenum mine, while the TFM copper-cobalt mine produced 1,024.0 thousand tons[109]. Market Position and Strategy - The company ranks 145th in the 2024 Fortune China 500 and 621st in the 2024 Forbes Global 2000 list[6]. - The company operates a dual-driven business model of "mining + trading," enhancing strategic synergy between its mining and trading operations[8]. - The company has established a partnership with the Copper Mark to promote responsible production practices across its global operations[9]. - The company has a diverse product portfolio, including critical metals for energy transition, which strengthens its market position[37]. - The company is focused on expanding its operational capacity and improving management efficiency in its Chinese mines, with a new mining area of 3,000 square meters added at the Shangfanggou molybdenum mine[18]. Trading and Revenue Streams - IXM, the trading arm, reported a significant increase in copper trading volume, with 162.8 thousand tons in the first half of 2024, up 29% from 126.2 thousand tons in the same period of 2023[24]. - The company’s nickel trading volume surged by 163%, reaching 27.9 thousand tons in the first half of 2024 compared to 10.6 thousand tons in the previous year[24]. - The company reported a revenue of RMB 3.881 billion in China for the first half of 2024, with a gross profit of RMB 1.553 billion, despite a decline in molybdenum prices[17]. - In Brazil, the company’s subsidiary achieved a revenue of RMB 3.112 billion, a year-on-year increase of 5.14%, with a gross profit of RMB 826 million[19]. - The total revenue from refined metal trading was approximately $70.11 billion, with a year-on-year increase of 24.35%[67]. Cost Management and Efficiency - The company has implemented cost reduction and efficiency improvement measures, resulting in significant increases in copper and cobalt recovery rates[16]. - The company is focused on enhancing operational efficiency through a "Lean Year" initiative aimed at improving quality, reducing costs, and increasing efficiency[103]. - The copper-cobalt segment is optimizing processes and improving technical indicators to reduce costs and enhance efficiency[104]. - The company has successfully implemented energy-saving measures that align with the guidelines set by the China Banking and Insurance Regulatory Commission[173]. Risk Management - The company is actively managing risks associated with trading, including price fluctuations and liquidity, to ensure stable and sustainable profitability[23]. - The company faces market risk due to fluctuations in domestic and international economic policies, exchange rates, and commodity prices, which can affect capital safety and hedging effectiveness[87]. - The company has implemented a comprehensive risk management framework to address price fluctuations, foreign exchange, counterparty credit, and liquidity risks in its trading operations[98]. - The company is exposed to price volatility risks in its main products, including copper, cobalt, and molybdenum, which are critical for profitability[93]. Environmental, Social, and Governance (ESG) - The company has established a global ESG management framework, achieving an AA rating in MSCI ESG performance, ranking in the top 19% of the global non-ferrous metals industry[47]. - The company is committed to maintaining its world-class ESG mining company status and has introduced a new management system to enhance its ESG evaluation standards[105]. - The company has completed ecological restoration work covering 30,700 square meters at the San Dao Zhuang mine, in line with national green mining construction requirements[108]. - The company has engaged Zhong Chengxin Green Finance Technology (Beijing) Co., Ltd. for evaluation and certification of the use of raised funds and the progress of green projects[174]. Employee and Governance - The company has a total workforce of 12,038 employees, including 7,392 production personnel, 1,856 sales and support staff, and 1,071 technical staff[136]. - The employee stock ownership plan (ESOP) is designed to enhance the alignment of interests between employees and shareholders, supporting the company's long-term strategic goals[116]. - The company has established a clear framework for the distribution of shares based on performance metrics, enhancing employee motivation and retention[124]. - The company has implemented a leadership development program targeting middle and senior management to enhance strategic consensus and collaboration[138]. Legal and Compliance - The company faced a lawsuit from Chengling Molybdenum Co., claiming economic losses of RMB 135.17 million due to construction activities, but the court ruled in favor of the company, ordering only RMB 2 million in compensation[141]. - The company has been actively managing its legal risks and has complied with court rulings regarding past disputes[141]. - The company has ongoing commitments to avoid competition with its controlling shareholders, including Hongshang Group and Luokang Group, as per disclosures made in 2011[140].

Investment Rating - The report assigns a "Buy" rating to the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [9]. Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2024, with a forecasted net profit attributable to shareholders ranging from 5.19 to 5.74 billion yuan, representing a year-on-year increase of 638% to 716% [4]. - The company has set ambitious five-year development goals, aiming for annual production of 800,000 to 1,000,000 tons of copper, 90,000 to 100,000 tons of cobalt, and 25,000 to 30,000 tons of molybdenum, marking its entry into the ranks of global leading mining companies [5]. - The report highlights strong operational performance in the TFM and KFM mines, with significant increases in copper and cobalt production in the first half of 2024 [5]. Summary by Sections Financial Performance - The company forecasts a net profit of 11.67 billion yuan for 2024, with an expected growth rate of 41.54% [6]. - The diluted earnings per share (EPS) are projected to be 0.54 yuan in 2024, increasing to 0.68 yuan by 2026 [6]. Production and Operational Highlights - In the first half of 2024, the company achieved copper production of 313,800 tons, a year-on-year increase of 101%, and cobalt production of 54,000 tons, a year-on-year increase of 178% [5]. - The second quarter saw copper production of 166,000 tons, up 85% year-on-year, and cobalt production of 29,000 tons, up 102% year-on-year [5]. Market Outlook - The report anticipates continued high growth in the sales of copper and cobalt, supported by a long-term upward trend in the prices of base metals [5].