Group 1 - The core viewpoint of the news is that Luoyang Molybdenum Co., Ltd. has experienced a significant decline in its stock price, dropping 3.28% on September 18, with a cumulative decline of 7.75% over four consecutive days [1] - As of the report, Luoyang Molybdenum's stock price is 12.38 yuan per share, with a trading volume of 3.324 billion yuan and a turnover rate of 1.53%, resulting in a total market capitalization of 264.862 billion yuan [1] - The company primarily engages in the mining, selection, deep processing, trading, and research of precious metals such as molybdenum, tungsten, and gold, with its main business revenue composition being 48.56% from refined metal product trading and 38.31% from concentrate product trading [1] Group 2 - According to data, Zhongjia Fund has a significant holding in Luoyang Molybdenum, with its Zhongjia Xinxing Mixed A Fund holding 7,700 shares, accounting for 0.12% of the fund's net value, ranking as the eighth largest holding [2] - The fund has incurred a floating loss of approximately 3,234 yuan today, with a total floating loss of 8,008 yuan during the four-day decline [2] - Zhongjia Xinxing Mixed A Fund was established on December 2, 2015, with a latest scale of 51.6921 million yuan, and has achieved a year-to-date return of 3.43% [2] Group 3 - The fund managers of Zhongjia Xinxing Mixed A are Zhong Wei and Pang Zhitong, with Zhong Wei having a tenure of 11 years and 319 days and a total fund asset size of 327 million yuan [3] - During Zhong Wei's tenure, the best fund return was 21.22%, while the worst was 0.36% [3] - Pang Zhitong has a tenure of 1 year and 231 days, managing assets of 94.2527 million yuan, with a best return of 9.35% and a worst return of 3.49% during his tenure [3]

Company Overview - Luoyang Molybdenum Co., Ltd. is primarily engaged in the mining, selection, deep processing, trading, and research of rare metals such as molybdenum, tungsten, and gold [2] - The company was established on December 22, 1999, and went public on October 9, 2012 [2] - The main business revenue composition includes refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [2] Stock Performance - The stock price of Luoyang Molybdenum has increased by 94.78% year-to-date, with a recent decline of 4.15% over the last five trading days [2] - As of September 18, the stock was trading at 12.46 CNY per share, with a market capitalization of 266.57 billion CNY [1] - The trading volume on September 18 was 4.07 billion CNY, with a turnover rate of 0.19% [1] Financial Performance - For the first half of 2025, Luoyang Molybdenum reported a revenue of 94.77 billion CNY, a year-on-year decrease of 7.83%, while the net profit attributable to shareholders increased by 60.07% to 8.67 billion CNY [2] - The company has distributed a total of 21.56 billion CNY in dividends since its A-share listing, with 10.58 billion CNY distributed in the last three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders was 237,500, a decrease of 15.95% from the previous period [2] - Major shareholders include Hong Kong Central Clearing Limited, holding 648 million shares, and Huaxia SSE 50 ETF, holding 138 million shares, both of which have increased their holdings compared to the previous period [3]

Core Viewpoint - The company reported significant growth in net profit for the first half of 2025, despite a decline in revenue, driven by strategic adjustments in its trading segment [1] Group 1: Financial Performance - In H1 2025, the company achieved operating revenue of 94.773 billion yuan, a year-on-year decrease of 7.83%, while operating costs were 74.727 billion yuan, down 10.96% [1] - The net profit attributable to shareholders reached approximately 8.671 billion yuan, an increase of 3.3 billion yuan, representing a growth of 60.07% [1] - In Q2 2025, the company reported operating revenue of 48.767 billion yuan, a year-on-year decline of 13.99%, but net profit increased by 41.24% to 4.725 billion yuan, with a quarter-on-quarter growth of 19.75% [1] Group 2: Copper and Cobalt Business - The copper segment generated operating revenue of 25.7 billion yuan in H1 2025, a year-on-year increase of 28%, with a gross profit of 13.8 billion yuan, up 33% [2] - Copper production reached 350,000 tons, a 13% increase year-on-year, while sales rose by 3% to 320,000 tons [2] - The cobalt segment saw operating revenue of 5.7 billion yuan, a 62% increase year-on-year, with a gross profit of 3.5 billion yuan, up 93% [3] Group 3: Future Prospects - The company aims to achieve an annual copper production capacity of 800,000 to 1 million tons and cobalt production of 90,000 to 100,000 tons [4] - The company has six production lines with over 650,000 tons of annual copper capacity, and ongoing projects are expected to enhance production efficiency and quality [4] - The Heshima hydropower station and new energy projects in the Democratic Republic of Congo are progressing, providing long-term energy stability for production [4] Group 4: Acquisition and Resource Expansion - The company completed the acquisition of LuminaGold for 581 million Canadian dollars (approximately 3 billion yuan), gaining 100% ownership of the Cangrejos Project in Ecuador [5] - The Cangrejos Project has a resource estimate of 1.376 billion tons with an average gold grade of 0.46 g/t, containing 638 tons of gold [5] - The project is expected to commence production in 2028, with an annual output of approximately 11.5 tons of gold [5] Group 5: Other Business Segments - The molybdenum segment's gross profit increased by 100 million yuan, a growth of 11%, while the tungsten segment's gross profit rose by 200 million yuan, a growth of 33% [6] - The niobium segment's gross profit increased by 300 million yuan, a growth of 54%, and the phosphorus segment's gross profit rose by 400 million yuan, a growth of 123% [7] - The company achieved a sales volume of 50,000 tons for niobium, a 5% increase year-on-year, and 590,000 tons for phosphorus fertilizer, a 9% increase year-on-year [7] Group 6: Profit Forecast and Valuation - The company forecasts operating revenues of 216.6 billion yuan, 223.1 billion yuan, and 231.7 billion yuan for 2025 to 2027, with year-on-year growth rates of 1.66%, 3.00%, and 3.88% respectively [8] - The net profit attributable to shareholders is projected to be 17.4 billion yuan, 19.4 billion yuan, and 21.8 billion yuan for the same period, with growth rates of 28.42%, 11.53%, and 12.25% respectively [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Insights - The company reported significant growth in its performance for the first half of 2025, with a total revenue of 94.773 billion yuan, a year-on-year decrease of 7.83%, while net profit attributable to shareholders reached approximately 8.671 billion yuan, an increase of 60.07% year-on-year, marking a historical high for the same period [1] - The copper and cobalt business showed both volume and price increases, with the company planning to achieve an annual copper production capacity of 800,000 to 1,000,000 tons and cobalt production of 90,000 to 100,000 tons in the future [2] - The acquisition of Lumina Gold for 581 million Canadian dollars (approximately 3 billion yuan) added gold resources to the company's portfolio, with the Cangrejos Project expected to have a lifespan of 26 years and an annual production of about 11.5 tons of gold starting in 2028 [3] - The molybdenum and tungsten sectors performed well, with molybdenum gross profit increasing by 11% and tungsten gross profit increasing by 33% year-on-year in the first half of 2025 [4] Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 94.773 billion yuan, with a net profit of approximately 8.671 billion yuan, reflecting a significant increase in profitability [1] - The company expects revenues of 216.6 billion yuan, 223.1 billion yuan, and 231.7 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 17.4 billion yuan, 19.4 billion yuan, and 21.8 billion yuan for the same years [9] Business Segments - The copper and cobalt segment saw a revenue of 25.7 billion yuan in H1 2025, with a gross profit margin of 54%, benefiting from increased production and favorable market conditions [7] - The molybdenum and tungsten segments reported a gross profit increase of 1 billion yuan and 2 billion yuan respectively in H1 2025, with improved recovery rates and reduced costs [4][8] Future Outlook - The company is focused on expanding its copper and cobalt production capabilities, with ongoing projects in the Democratic Republic of Congo expected to enhance operational efficiency and product quality [2] - The acquisition of gold resources is anticipated to strengthen the company's resource base and contribute to long-term growth [3]

Group 1 - The company announced that it will provide guarantees totaling up to 1.4 billion yuan for its wholly-owned subsidiaries [2] - As of the date of the announcement, the company has no overdue guarantees [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 承董事會命 洛陽欒川鉬業集團股份有限公司 劉建鋒 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 以下為洛陽欒川鉬業集團股份有限公司（「本公司」）於上海證券交易所網站 (www.sse.com.cn )所發佈《洛陽欒川鉬業集團股份有限公司關於對外擔保計劃的 公告》。 董事長 CMOC Group Limited* （於中華人民共和國註冊成立的股份有限公司） （股份代號：03993） 中華人民共和國河南省洛陽市， 二零二五年九月十七日 於本公告日期，執行董事為劉建鋒先生、孫瑞文先生及闕朝陽先生；非執行董 事為林久新先生及蔣理先生；及獨立非執行董事為王開國先生、顧紅雨女士及 程鈺先生。 * 僅供識別 股票代码：603993 股票简称：洛阳钼业 编号：2025—046 洛阳栾川钼业集团股份有限公司 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 ...

股票代码：603993 股票简称：洛阳钼业 编号：2025—046 洛阳栾川钼业集团股份有限公司 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： 一、担保审批及授权情况 2025年5月30日，公司2024年年度股东大会审议通过《关于本公 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14亿元的担保。 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23.29%。敬请投资者注意相关风险。 司2025年度对外担保额度预计的议案》，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 ...

Core Viewpoint - Luoyang Molybdenum Co., Ltd. shows significant trading activity with high financing and margin levels, indicating strong investor interest despite a slight decline in stock price on September 15 [1][2]. Financing Summary - On September 15, Luoyang Molybdenum had a financing buy amount of 278 million yuan and a financing repayment of 265 million yuan, resulting in a net financing purchase of 12.51 million yuan [1]. - The total financing and margin balance reached 2.709 billion yuan, with a financing balance of 2.687 billion yuan, accounting for 1.15% of the circulating market value, which is above the 90th percentile level over the past year [1]. - Margin trading on the same day included a repayment of 250,500 shares and a sale of 32,600 shares, with a selling amount of 435,200 yuan, while the margin balance stood at 22.58 million yuan, also exceeding the 90th percentile level over the past year [1]. Company Overview - Luoyang Molybdenum, established on December 22, 1999, and listed on October 9, 2012, primarily engages in the mining, selection, deep processing, trading, and research of rare metals such as molybdenum, tungsten, and gold [2]. - The company's revenue composition includes refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [2]. - For the first half of 2025, Luoyang Molybdenum reported operating revenue of 94.773 billion yuan, a year-on-year decrease of 7.83%, while net profit attributable to shareholders increased by 60.07% to 8.671 billion yuan [2]. Dividend and Shareholding Summary - Since its A-share listing, Luoyang Molybdenum has distributed a total of 21.562 billion yuan in dividends, with 10.576 billion yuan distributed over the past three years [3]. - As of June 30, 2025, the company had 237,500 shareholders, a decrease of 15.95% from the previous period, with an average of 0 circulating shares per shareholder [2][3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 648 million shares, an increase of 6.949 million shares, while various ETFs have also increased their holdings [3].

Core Viewpoint - The recent surge in Luoyang Molybdenum's stock price by 5.12% to HKD 13.34 is linked to a significant procurement contract by Oracle, valued at USD 300 billion, which has ignited investor interest in the computing power and AI sectors [1] Group 1: Company Performance - Luoyang Molybdenum's stock price increased by 5.12%, reaching HKD 13.34, with a trading volume of HKD 405 million [1] Group 2: Industry Trends - Oracle's procurement contract worth USD 300 billion (approximately CNY 2.14 trillion) has heightened global investor enthusiasm for computing power and AI-related sectors [1] - The application of cobalt materials in the transistor contact layer significantly enhances device performance, particularly in advanced processes like 5nm, by reducing contact resistance and improving transistor switching speed, thereby supporting the performance leap of high-end AI chips [1]

Core Viewpoint - Luoyang Molybdenum (603993)(03993) has seen a stock price increase of over 5%, currently up 5.12% at HKD 13.34, with a trading volume of HKD 405 million. This surge is attributed to a significant $300 billion (approximately RMB 2.14 trillion) computing power procurement contract by Oracle, which has ignited global investor enthusiasm for computing and AI-related sectors [1][1][1]. Group 1: Industry Insights - The computing power industry is experiencing heightened growth certainty and expectations, driven by North American cloud providers achieving positive returns from AI investments and increasing their investments in AI infrastructure [1][1]. - The application of cobalt materials in transistor contact layers has significantly enhanced device performance, particularly in advanced processes like 5nm, where cobalt silicide can greatly reduce contact resistance, thereby improving transistor switching speed and supporting the performance leap of high-end AI chips [1][1][1]. Group 2: Company Developments - Luoyang Molybdenum's copper-cobalt business continues to contribute positively to the company's performance through both volume and price increases. The production in the first half of 2025 has exceeded the planned progress, and future plans include promoting the TFM East District 17K process upgrade project to continue increasing production and reducing costs [1][1]. - The temporary suspension of cobalt exports from the Democratic Republic of Congo for four months, along with declining market inventory levels, is expected to support high cobalt prices, positively impacting the company's revenue [1][1].