股票代码：603993 股票简称：洛阳钼业 编号：2026-010 洛阳栾川钼业集团股份有限公司 关于完成发行12亿美元于2027年到期的零息有担保可换股 债券的公告 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。 在本公告中，除非文义另有所指（如有），所有释义均与洛阳栾 川钼业集团股份有限公司（以下简称"洛阳钼业"、"公司"或"本 公司"）2026 年 1 月 20 日于上海证券交易所网站（www.sse.com.cn） 披露的《洛阳栾川钼业集团股份有限公司关于拟根据一般性授权发行 12 亿美元于 2027 年到期的零息有担保可换股债券的公告》（编号： 2026-006）中的释义一致。 本次可转换公司债券于2026年1月26日在维也纳证券交易所营运 的维也纳多层次市场(MTF)上市及交易，后续公司将根据中国证监会 的相关规定及时履行本次可转换公司债券发行的相关备案程序。 二、转换债券对股权结构的影响 下表说明在假设(a)本公司股本自本公告日期起至债券悉数转换 止概无其他变动（因悉数转换债券而发行转换股份除外（视情况而 定） ...

Market Overview - The Shanghai Composite Index fell by 0.09% on January 26, with 10 industries experiencing gains, led by non-ferrous metals and petroleum & petrochemicals, which rose by 4.57% and 3.18% respectively [1] - The defense and military industry and the automotive industry saw the largest declines, with drops of 4.47% and 2.31% respectively [1] - Overall, there was a net outflow of 114.32 billion yuan in the main funds across the two markets, with six industries seeing net inflows [1] Non-Ferrous Metals Industry - The non-ferrous metals industry increased by 4.57%, despite a net outflow of 2.85 billion yuan in main funds [2] - Out of 138 stocks in this sector, 92 rose, with 22 hitting the daily limit, while 46 fell, including 1 hitting the lower limit [2] - The top three stocks with the highest net inflow were Northern Rare Earth (8.12 billion yuan), Luoyang Molybdenum (5.34 billion yuan), and China Tungsten High-Tech (3.65 billion yuan) [2] Non-Ferrous Metals Fund Inflow - The top stocks by fund inflow included: - Northern Rare Earth: +2.50%, turnover rate 5.09%, main fund flow 81.18 million yuan - Luoyang Molybdenum: +8.35%, turnover rate 2.71%, main fund flow 53.39 million yuan - China Tungsten High-Tech: +10.01%, turnover rate 6.90%, main fund flow 36.52 million yuan [2] Non-Ferrous Metals Fund Outflow - The top stocks by fund outflow included: - Silver Industry: -10.03%, turnover rate 8.50%, main fund flow -1397.23 million yuan - Tongling Nonferrous Metals: -10.06%, turnover rate 10.02%, main fund flow -857.32 million yuan - Zijin Mining: -5.17%, turnover rate 3.22%, main fund flow -626.08 million yuan [3]

Core Viewpoint - JPMorgan has increased its long position in Luoyang Luanchuan Molybdenum Co., Ltd. - H shares from 6.1% to 6.14% as of January 21, 2026 [1] Company Summary - JPMorgan's long position in Luoyang Luanchuan Molybdenum Co., Ltd. reflects a slight increase in ownership percentage, indicating potential confidence in the company's future performance [1]

（文章来源：证券时报网） 据天眼查APP显示，洛阳栾川钼业集团股份有限公司成立于1999年12月22日，注册资本427886.20352万 人民币。（数据宝） 数据宝统计，截至14:36，洛阳钼业成交额104.05亿元，创上市以来新高。最新股价上涨7.25%，换手率 2.46%。上一交易日该股全天成交额为57.14亿元。 ...

Group 1 - The non-ferrous metal sector is leading the market with a net inflow of nearly 15 billion yuan, ranking first among 31 Shenwan primary industries [1] - The Huabao non-ferrous ETF (159876) saw its price surge over 5.1% during the day, with a current increase of 3.85% and a transaction volume of 181 million yuan, setting historical highs in both price and volume [1] - The Huabao non-ferrous ETF has reached a new scale of 1.892 billion yuan, marking a historical peak [4] Group 2 - The recent acquisition by Luoyang Molybdenum of a Brazilian gold mine is expected to yield 6 to 8 tons of gold this year, with strong profitability and a short investment return period [3] - The non-ferrous metal industry is anticipated to maintain high profitability for an extended period, supported by continuous demand growth [4] - Domestic non-ferrous metal companies are valued lower compared to their overseas counterparts, despite having similar growth potential and core competitiveness [4] Group 3 - Several stocks in the non-ferrous sector, including Vanadium Titanium Co., Silver Nonferrous, and Hunan Gold, have reached their daily limit up, indicating strong market performance [5] - The Huabao non-ferrous ETF and its associated funds cover a wide range of metals, including copper, aluminum, gold, and lithium, allowing for better exposure to the sector's performance [8]

Group 1 - The non-ferrous metal sector is leading the market with a net inflow of nearly 15 billion yuan, ranking first among 31 Shenwan primary industries [1] - The Huabao non-ferrous ETF (159876) saw its price surge over 5.1% during the day, with a current increase of 3.85% and a transaction volume of 181 million yuan, setting historical highs in both volume and price [1] - Over the past 10 days, the ETF has attracted a total of 569 million yuan, indicating strong investor interest [1] Group 2 - On January 25, Luoyang Molybdenum Company completed the acquisition of a Brazilian gold mine, expected to produce 6 to 8 tons of gold this year, with strong profitability and a short investment return period [2] - The non-ferrous metal industry is expected to maintain high profitability for an extended period, driven by sustained demand, and domestic companies are undervalued compared to their overseas counterparts [3] - The Huabao non-ferrous ETF has reached a new scale of 1.892 billion yuan, making it the largest ETF tracking the non-ferrous metal index in the market [3] Group 3 - Several stocks in the non-ferrous sector, including Vanadium Titanium Co., Silver Nonferrous, and Hunan Gold, have hit the daily limit, with significant gains observed in other stocks like Luoyang Molybdenum and Shandong Gold [4] - The Huabao non-ferrous ETF and its linked funds cover a wide range of metals, including copper, aluminum, gold, and lithium, allowing investors to capture various market cycles [6]

Group 1 - The core point of the news is that Luoyang Molybdenum Co., Ltd. has rapidly completed the acquisition of four operating gold mines in Brazil for a total consideration of $1.015 billion, enhancing its gold production capacity significantly [2][3][4] - The acquisition includes 100% equity of three gold mining assets from Equinox Gold, specifically the Aurizona, RDM, and Bahia complexes, with a total gold resource of 5.013 million ounces and reserves of 3.873 million ounces [3][4] - The completion of this acquisition is expected to contribute to Luoyang Molybdenum's production and profit, with an anticipated annual gold output of 6-8 tons in 2026, aligning with the company's strategic goal of increasing its resource reserves [3][5] Group 2 - This acquisition follows Luoyang Molybdenum's previous purchase of the Cangrejos gold mine in Ecuador for CAD 581 million, marking a significant strategic move in the gold sector and establishing a dual-resource acquisition system [4] - The company has reported a projected net profit of RMB 20 billion to 20.8 billion for 2025, representing a year-on-year increase of 47.80% to 53.71%, marking its first annual net profit exceeding 20 billion since its listing in 2012 [5] - The company has set a production target for 2026 that includes gold for the first time, indicating a strategic shift towards expanding its gold business alongside its existing copper and other metal operations [5]

Core Viewpoint - Luoyang Molybdenum Co., Ltd. has successfully completed the acquisition of three gold mining assets in Brazil from Equinox Gold for up to $1.015 billion, indicating a strong commitment to expanding its gold resource portfolio and enhancing production capacity [1][2] Group 1: Acquisition Details - The acquisition includes 100% ownership of the Aurizona, RDM, and Bahia gold mining assets, comprising a total gold resource of 5.013 million ounces (approximately 156 tons) with an average grade of 1.88 grams per ton [1] - The total gold reserves amount to 3.873 million ounces (approximately 120 tons) with an average grade of 1.45 grams per ton, and the company expects an annual production of 6 to 8 tons of gold from these assets [1] Group 2: Strategic Plans - The transaction was completed in just 40 days from announcement to closing, showcasing the company's efficiency in executing acquisitions [1] - Following the acquisition, the company plans to accelerate management integration and enhance project capacity to realize value [1] - Luoyang Molybdenum is actively seeking further expansion opportunities in the gold market and has issued $1.2 billion in convertible bonds to secure funding for future acquisitions [2]

Core Viewpoint - Luoyang Molybdenum has completed the acquisition of three gold mines in Brazil, significantly enhancing its gold resource reserves and production capacity amid rising international gold prices [1] Group 1: Acquisition Details - The acquisition was finalized on January 23, involving 100% equity in the Aurizona Gold Mine, RDM Gold Mine, and Bahia Complex, executed through the subsidiary CMOC Limited [1] - The total gold resource of the acquired projects amounts to 501.3 million ounces (approximately 156 tons), with an average grade of 1.88 grams per ton [1] - The gold reserves are reported at 387.3 million ounces (approximately 120 tons), with an average grade of 1.45 grams per ton [1] Group 2: Strategic Importance - This acquisition is a key move in Luoyang Molybdenum's "Copper + Gold" strategy, following the previous acquisition of the Odin Gold Mine in Ecuador in June 2025 [1] - The projects are expected to contribute an annual gold production of 6 to 8 tons by 2026, significantly increasing the company's gold resource reserves and production scale [1] - The recent surge in international gold prices, surpassing $5,000 per ounce, is anticipated to enhance the company's profitability and risk resilience in the precious metals sector [1]

Core Viewpoint - The non-ferrous metal sector is experiencing a significant rally, driven by multiple factors that are reshaping the pricing logic of non-ferrous metals [1][3]. Group 1: Market Performance - The non-ferrous metal ETF, Huabao (159876), surged by 5.02%, reaching a new high since its listing, with a trading volume of 1.42 billion yuan within the first hour of trading [1]. - The ETF has seen a net subscription of 1.09 million units, accumulating a total of 569 million yuan over the past 10 days [1]. - Key stocks in the sector, such as Steel Titanium Co., Tongling Nonferrous Metals, and Silver Nonferrous Metals, have all reached their daily limit up, with significant increases in trading volumes [4]. Group 2: Driving Factors - The rising U.S. debt and deficit are causing global concerns about sustainability and the credibility of the dollar, leading central banks to diversify their reserves by reducing U.S. Treasury holdings and increasing gold reserves, which supports higher precious metal prices [3]. - The development of the AI industry and the acceleration of global energy transition are driving increased demand for industrial metals like copper and aluminum [3]. - The global supply chain is shifting focus from efficiency to security, prompting countries to increase reserves of critical minerals and energy, thereby boosting demand for bulk commodities [3]. - A long-term contraction in capital expenditure for major non-ferrous metals since 2011 has created a significant output gap, which continues to constrain supply and support prices [3]. Group 3: Industry Outlook - The current high profitability in the non-ferrous metal sector is expected to persist for an extended period, with new demand driving growth and leading to a potential revaluation of the sector [3]. - Domestic non-ferrous metal companies are valued lower compared to their overseas counterparts, despite having similar growth potential and core competitiveness [3]. - Continuous exploration and breakthroughs in core technologies such as exploration, mining, and metallurgy by domestic companies contribute significantly to global mining development [3].