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洛阳钼业:洛阳钼业H股市场公告
2024-04-03 08:47
股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年3月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 洛陽欒川鉬業集團股份有限公司 呈交日期: 2024年4月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 03993 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,933,468,000 | RMB | 0.2 | RMB | | 786,693,600 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 3,933,468,000 | RMB | | 0.2 RMB | | 786,693,600 | | 2. 股份分類 | 普通股 | 股份類別 | A | ...
公司事件点评报告:刚果金铜钴项目放量,未来产量仍将持续增长
Huaxin Securities· 2024-04-02 16:00
证 券 2024 年 04 月 03 日 研 究 刚果金铜钴项目放量,未来产量仍将持续增长 报 告 —洛阳钼业(603993.SH)公司事件点评报告 买入(维持) 事件 分析师:傅鸿浩 S1050521120004 洛阳钼业发布 2023 年年度报告:公司 2023 年实现营业收入 fuhh@cfsc.com.cn 1862.69 亿元,同比增长 7.68%;归母净利润 82.50 亿元,同 分析师:杜飞 S1050523070001 比增长 35.98%;扣除非经常性损益后的归母净利润 62.33 亿 dufei2@cfsc.com.cn 元,同比增长 2.73%。 基本数据 2024-04-02 投资要点 当前股价(元) 8.34 总市值(亿元) 1801 ▌资源量保持领先地位,产量同比全部增长 总股本(百万股) 21599 公司在中国、刚果(金)和巴西运营 7 座优质矿山,包括东 流通股本(百万股) 17666 戈壁钼矿、上房沟钼矿、三道庄钼矿,刚果(金)TFM 铜钴 52周价格范围(元) 4.66-8.34 矿、刚果(金)KFM 铜钴矿,巴西铌矿、巴西磷矿。公司参 日均成交额(百万元) 696.31 ...
重要项目建成投产,未来5年铜产量有望迈向百万吨
Guoxin Securities· 2024-04-01 16:00
Investment Rating - The report maintains a "Buy" rating for Luoyang Molybdenum (603993.SH) [1][4][19] Core Views - The company achieved a 36% year-on-year growth in net profit for 2023, with total revenue reaching 186.3 billion yuan, an increase of 7.7% [1][5] - Significant projects, including the TFM mixed ore and KFM copper-cobalt mines, have been completed, positioning the company for substantial production increases in the coming years [1][2][5] - The company aims to produce 800,000 to 1,000,000 tons of copper and 90,000 to 100,000 tons of cobalt annually over the next five years, leveraging its existing production capacity [2][5][19] Financial Performance - In 2023, the company reported a net profit of 8.25 billion yuan, with a significant increase in Q4 net profit to 5.81 billion yuan, marking a 663% increase year-on-year [1][5] - The operating cash flow for 2023 was 15.54 billion yuan, reflecting a 0.6% increase [1][5] - The projected net profits for 2024-2026 are 10.08 billion, 11.33 billion, and 11.56 billion yuan, respectively, with expected growth rates of 22.2%, 12.4%, and 2.0% [2][19] Production Outlook - The company is set to achieve copper production of over 520,000 tons and cobalt production of over 60,000 tons in 2024 [1][5] - The completion of major projects is expected to double copper production within two years, enhancing the company's position among the top global copper producers [2][19] Market Position - Luoyang Molybdenum is anticipated to become one of the top ten copper producers globally and the largest cobalt producer, driven by its strategic projects and production capacity [2][19]
洛阳钼业:洛阳钼业关于对外担保计划的公告
2024-03-29 08:19
股票代码:603993 股票简称:洛阳钼业 编号:2024—018 关于对外担保计划的公告 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: 被担保方:相关全资子公司 本次担保金额:洛阳栾川钼业集团股份有限公司(以下简称"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) 为其他全资子公司合计提供总额预计不超过45亿元人民币的担保。 本次担保不涉及反担保。 截至本公告披露日公司无逾期担保。 本次担保计划部分被担保方为资产负债率超过70%的全资子公司; 截至本公告披露日,公司对外担保总额占公司最近一期经审计净 资产的43.02%。敬请投资者注意相关风险。 一、担保授权情况 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90 ...
深度报告:公司借资源禀赋发力,铜钴双引擎带动增长
BOHAI SECURITIES· 2024-03-28 16:00
Investment Rating - The report assigns an "Accumulate" rating to the company [3]. Core Insights - The company has achieved record high performance in 2023, with revenue and net profit reaching 186.27 billion yuan and 8.25 billion yuan, respectively, representing year-on-year growth of 7.68% and 35.98% [4]. - The company is positioned as a leading global producer of tungsten, cobalt, niobium, molybdenum, and copper, leveraging its resource advantages to drive production growth [4][6]. - The copper supply-demand outlook is tightening, with expectations for sustained high copper prices due to slow supply growth and increasing demand from the renewable energy sector [5][30]. - Cobalt supply is currently in surplus but is projected to shift towards a shortage post-2025, driven by rising demand from electric vehicles [5][37]. Summary by Sections 1. Company Overview - The company has expanded its mining resources and production capacity since its listing, becoming a global leader in several metal production categories [14]. 2. Copper Market Analysis - The global copper supply is concentrated in a few countries, with capital expenditures insufficient to support supply growth, leading to a forecast of tight supply conditions [22][30]. - China's demand for copper is significant, accounting for over 57% of global consumption, with expectations for stable demand from traditional power and grid sectors [23][26]. 3. Cobalt Market Analysis - Cobalt supply is primarily concentrated in the Democratic Republic of Congo and Indonesia, with significant production increases expected in the coming years [33][35]. - The demand for cobalt is expected to grow significantly due to its applications in electric vehicles and portable electronics, with a projected demand increase of 14.5% in 2023 [37]. 4. Financial Projections - The company is expected to achieve net profits of 10.02 billion yuan, 11.24 billion yuan, and 12.26 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 0.46 yuan, 0.52 yuan, and 0.57 yuan [7].
产品产量全线同比增长,五年计划剑指全球一流铜生产商
Guotou Securities· 2024-03-26 16:00
本报告仅供 Choice 东方财富 使用,请勿传阅。 公司快报 2024 年 03 月 27 日 洛 阳钼业(603993.SH) 253365999 证券研究报告 产品产量全线同比增长,五年计划剑指 其他稀有金属 投资评级 买入-A 全球一流铜生产商 维持评级 6个月目标价 10.2元 公司发布 2023 年年报:2023 年公司营业收入 1862.69 亿元, 股价 (2024-03-26) 7.78元 同比增长 7.68%;归母净利润82.5 亿元,同比增长35.98%;扣非 归母净利润 62.33亿元,同比增长 2.73%。其中 2023Q4 营业收入 交易数据 545.87 亿元,同比增长 34.71%,环比增长 21.42%;归母净利润 总市值(百万元) 168,042.09 58.07 亿元,同比增长663.07%,环比增长233.74%;扣非归母净 流通市值(百万元) 137,439.71 利润 48.77 亿元,同比增长141.26%,环比增长329.59%。 总股本(百万股) 21,599.24 流通股本(百万股) 17,665.77 矿业板块产量全线提升,处置澳洲铜金业务增加投资收益: ...
铜钴巨矿产能集中放量,助力公司盈利能力同比大幅提升
GOLDEN SUN SECURITIES· 2024-03-26 16:00
Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company achieved a revenue of 186.27 billion yuan in 2023, a year-on-year increase of 7.68%, and a net profit attributable to shareholders of 8.25 billion yuan, up 35.98% year-on-year [1] - The significant increase in profitability is attributed to the concentrated release of overseas copper and cobalt mining capacity, alongside a cyclical rise in copper prices [1][2] - The company has successfully resolved issues related to the TFM mining rights, allowing for accelerated capacity release [1] - The divestment of the Australian NPM copper mine is expected to enhance capital allocation efficiency and reduce the group's debt ratio [1] Financial Summary - In 2023, the company produced approximately 419,500 tons of copper, a 51% increase year-on-year, and 55,500 tons of cobalt, a 174% increase year-on-year [1] - The projected revenues for 2024-2026 are 197.50 billion yuan, 207.29 billion yuan, and 216.94 billion yuan, respectively, with net profits expected to be 10.01 billion yuan, 11.00 billion yuan, and 12.19 billion yuan [2] - The company's earnings per share (EPS) for 2023 was 0.38 yuan, reflecting a significant year-on-year growth of 35.71% [1][2] - The company’s P/E ratios for 2024, 2025, and 2026 are projected to be 16.9, 15.4, and 13.9, respectively [2][7]
业绩符合预期,挖掘资源潜力成长动力充足
申万宏源· 2024-03-26 16:00
Investment Rating - The report maintains a "Buy" rating for the company [5][6]. Core Views - The company's 2023 performance met expectations, with a revenue increase of 7.7% year-on-year to 186.2 billion yuan, and a net profit growth of 36% to 8.25 billion yuan [5]. - Significant revenue growth in the mining segment, driven by copper and cobalt production, with TFM and KFM mines generating 28 billion yuan and 11.37 billion yuan in revenue respectively [5][6]. - The company has outlined production guidance for 2024, indicating strong growth potential with copper production expected to be between 520,000 to 570,000 tons and cobalt production between 60,000 to 67,000 tons [5][6]. Summary by Relevant Sections Financial Performance - 2023 total revenue was 186.2 billion yuan, with a year-on-year growth rate of 7.7% [7]. - The net profit for 2023 was 8.25 billion yuan, reflecting a 36% increase compared to the previous year [7]. - The company forecasts continued revenue growth, projecting 203.5 billion yuan in 2024, with a growth rate of 9.2% [7]. Production and Resources - The company operates two world-class mines in the Democratic Republic of Congo, TFM and KFM, which have substantial resource reserves [5]. - TFM's copper reserves are 7.498 million tons, and cobalt reserves are 770,000 tons, while KFM has copper reserves of 1.71 million tons and cobalt reserves of 670,000 tons [5]. - The company plans to initiate expansion projects for TFM and KFM to further leverage its resource advantages [5][6]. Future Outlook - The company expects net profits to reach 10.4 billion yuan in 2024, with continued growth projected through 2026 [6][7]. - The estimated price-to-earnings (PE) and price-to-book (PB) ratios for 2024 are below the average of comparable companies, indicating potential for investment [6].
2023年年报点评:全年业绩超预期,24年铜钴产量增长或将继续催化业绩释放
Huafu Securities· 2024-03-26 16:00
e p y T t r o p e R _ e l b a T | t s r i F _ e l b Taable_First T Table_First|Table_Summary 有色金属 Table_First|Table_ReportDate 2024年3月24日 公 司 Table_First|Table_Rating 报 洛阳钼业(603993.SH) 买入(维持评级) 告 2023 年年报点评:全年业绩超预期,24 年铜钴产 当前价格: 7.48元 目标价格: 9.91元 量增长或将继续催化业绩释放 Table_First|Table_MarketInfo 基本数据 总股本/流通股本(百万股) 21599/17666 投资要点: 总市值/流通市值(百万元) 161562/132140 ➢ 事件:公司发布2023年年报:2023全年公司实现营业收入1,862.7亿 每股净资产(元) 2.71 元,同比+7.7%;归母净利润82.5亿元,同比+36.0%;扣非归母净利润62.3 资产负债率(%) 62.41 亿元,同比+2.7%。 公 一年内最高/最低(元) 7.82/4.66 ➢ 矿产品产量增加 ...
23年业绩大幅增长,24年量价齐升可期
Guolian Securities· 2024-03-25 16:00
证券研究报告 公 2024年03月25日 司 报 告 洛阳钼业(603993) 行 业: 有色金属/小金属 │ 公 投资评级: 买入(维持) 司 当前价格: 7.48元 23 年业绩大幅增长,24 年量价齐升可期 年 目标价格: 9.26元 报 点 事件: 评 基本数据 公司发布2023年度报告,公司2023年实现营业收入1862.69亿元,同比 21,599.24/21,599.2 总股本/流通股本(百万股) 增长 7.68%;归母净利润 82.50 亿元,同比增长 35.98%;扣非归母净利润 4 流通A股市值(百万元) 132,139.98 62.33亿元,同比增长2.73%;每股收益0.38元,同比增长35.71%。 每股净资产(元) 2.71 ➢ 23年产品产量全线同比增长,成为全球重要铜生产商 资产负债率(%) 58.40 2023年公司刚果(金)TFM五条生产线均已建成,具备年产45万吨铜、3.7 一年内最高/最低(元) 7.97/4.61 万吨钴产能;KFM于2023Q1实现产出,Q2投产即实现达产。2023年公司实 现铜产量(金属量计,下同)41.95万吨,同比增长51.46%;钴产量5.5 ...