Core Viewpoint - Citigroup's report indicates that Luoyang Molybdenum's net profit for the first three quarters of this year increased by 73% year-on-year to 14.3 billion yuan, achieving 72% and 84% of Citigroup and market's full-year forecasts respectively [1] Financial Performance - The recurring net profit and EBIT for the first three quarters were 14.5 billion yuan and 24.5 billion yuan, reflecting year-on-year increases of 70% and 33% [1] - The estimated EBIT for the third quarter reached 9 billion yuan, showing year-on-year and quarter-on-quarter growth of 46% and 2% respectively, surpassing Citigroup's expectations, primarily due to higher copper production and sales [1] Future Projections - The net profit forecasts for 2025 to 2027 have been raised by 19.5%, 36.6%, and 19.6% to 19.8 billion yuan, 25.2 billion yuan, and 27 billion yuan respectively [1] - The target price for H-shares has been increased from 13.4 HKD to 20.6 HKD, and for A-shares from 12.6 CNY to 19 CNY, while maintaining a "Buy" rating [1]

Core Viewpoint - Citigroup's report indicates that Luoyang Molybdenum's net profit for the first three quarters of this year increased by 73% year-on-year to 14.3 billion yuan, achieving 72% and 84% of Citigroup and market's full-year forecasts respectively [1] Financial Performance - The recurring net profit and EBIT for the first three quarters were 14.5 billion yuan and 24.5 billion yuan, reflecting year-on-year increases of 70% and 33% [1] - The estimated EBIT for the third quarter reached 9 billion yuan, showing year-on-year and quarter-on-quarter growth of 46% and 2% respectively, surpassing Citigroup's expectations, primarily due to higher copper production and sales [1] Future Projections - Citigroup has raised its net profit forecasts for 2025 to 2027 by 19.5%, 36.6%, and 19.6% respectively, projecting profits of 19.8 billion yuan, 25.2 billion yuan, and 27 billion yuan [1] Target Price Adjustments - The target price for H-shares has been increased from 13.4 HKD to 20.6 HKD, while the target price for A-shares has been raised from 12.6 yuan to 19 yuan, maintaining a "Buy" rating [1]

该行指，第三季钴销量达5,000吨，较市场预期高，对比第二季为2,200吨。此外，有效税率由第二季的 37%大幅降第三季的27%，意味期内税务支出较上季减少9亿元。 智通财经APP获悉，瑞银发布研报称，洛阳钼业(03993)表现胜预期，预期投资者将有正面反应，现予目 标价20.5港元及"买入"评级。洛阳钼业今年首三季归属股东净利润达143亿元人民币(下同)，同比增长 73%，已达市场全年预期的87%，以及该行预期的80%。单计第三季，净利润为56亿元，同比增长 96%，按季增长19%，较市场预期高约10亿元。 ...

该行指，第三季钴销量达5,000吨，较市场预期高，对比第二季为2,200吨。此外，有效税率由第二季的 37%大幅降第三季的27%，意味期内税务支出较上季减少9亿元。 瑞银发布研报称，洛阳钼业（603993）(03993)表现胜预期，预期投资者将有正面反应，现予目标价20.5 港元及"买入"评级。洛阳钼业今年首三季归属股东净利润达143亿元人民币(下同)，同比增长73%，已达 市场全年预期的87%，以及该行预期的80%。单计第三季，净利润为56亿元，同比增长96%，按季增长 19%，较市场预期高约10亿元。 ...

高盛发布研报称，维持对洛阳钼业（603993）(03993)的"买入"评级，目标价从10.8港元升至19港元。洛 阳钼业按中国会计准则计算第三季纯利同比增长96%至56.1亿元人民币，首三季经常性净利润为141亿 元人民币，胜预期，并相当于该行全年预测的约75%及市场预期的约82%。 因应首三季表现及该行对铜价的最新预测，该行将洛钼2025至2027年经常性盈利预测上调8%至32%， 同时将2028至2030年铜产量预测上调30%至100万吨，预期铜价上升及钴价复苏将推动洛钼2025至2026 年经常性利润年均复合增长率达38%，加上2028年实现100万吨铜产量及Cangrejos金铜项目投产的预 期，将驱动2028至2029年盈利增长。 ...

Group 1 - Goldman Sachs maintains a "Buy" rating for Luoyang Molybdenum (03993), raising the target price from HKD 10.8 to HKD 19 [1] - Luoyang Molybdenum's Q3 net profit increased by 96% year-on-year to RMB 5.61 billion, with the first three quarters' recurring net profit reaching RMB 14.1 billion, exceeding expectations [1] - The recurring profit forecast for Luoyang Molybdenum for 2025 to 2027 has been raised by 8% to 32%, and the copper production forecast for 2028 to 2030 has been increased by 30% to 1 million tons [1] Group 2 - The expected rise in copper prices and recovery in cobalt prices will drive a compound annual growth rate of 38% in recurring profits for Luoyang Molybdenum from 2025 to 2026 [1] - The anticipated production of 1 million tons of copper by 2028 and the launch of the Cangrejos gold-copper project are expected to drive profit growth from 2028 to 2029 [1]

Core Viewpoint - Goldman Sachs reports that Luoyang Molybdenum (603993)(3993.HK) achieved a 96% year-on-year increase in net profit for the third quarter, exceeding expectations for the first three quarters [1] Financial Performance - The net profit for the first three quarters surpassed expectations, prompting Goldman Sachs to revise its earnings forecasts for Luoyang Molybdenum for 2025 to 2027 [1] - The forecast for copper production from 2028 to 2030 has been significantly increased [1] Market Drivers - The anticipated rise in copper prices and recovery in cobalt prices are expected to drive profit growth for Luoyang Molybdenum in the coming years [1] - The commencement of production at the Cangrejos gold-copper project is also expected to further enhance profitability [1] Investment Rating - Goldman Sachs maintains a "Buy" rating for Luoyang Molybdenum and has raised the target price to HKD 19 [1]

Core Viewpoint - Goldman Sachs reports that Luoyang Molybdenum (3993.HK) achieved a 96% year-on-year increase in net profit for Q3, reaching 5.61 billion RMB, with recurring net profit for the first three quarters at 14.1 billion RMB, exceeding expectations [1] Financial Performance - The recurring net profit for the first three quarters is approximately 75% of Goldman Sachs' full-year forecast and about 82% of market expectations [1] - The company’s Q3 net profit growth is attributed to rising copper prices and a recovery in cobalt prices [1] Earnings Forecast - Goldman Sachs has raised its recurring profit forecast for Luoyang Molybdenum for 2025 to 2027 by 8% to 32% [1] - The copper production forecast for 2028 to 2030 has been increased by 30% to 1 million tons [1] Growth Drivers - The expected average compound annual growth rate (CAGR) for recurring profits from 2025 to 2026 is projected to be 38% due to rising copper prices and cobalt price recovery [1] - The anticipated production of 1 million tons of copper in 2028 and the launch of the Cangrejos gold-copper project are expected to drive profit growth from 2028 to 2029 [1] Investment Rating - Goldman Sachs maintains a "Buy" rating for Luoyang Molybdenum, raising the target price from 10.8 HKD to 19 HKD [1]

Core Viewpoint - UBS report indicates that Luoyang Molybdenum's net profit attributable to shareholders reached 14.3 billion yuan in the first three quarters of this year, representing a year-on-year growth of 73%, already achieving 87% of market's full-year expectations and 80% of UBS's forecast [1] Financial Performance - In Q3 alone, the net profit was 5.6 billion yuan, showing a year-on-year increase of 96% and a quarter-on-quarter increase of 19%, exceeding market expectations by approximately 1 billion yuan [1] - Cobalt sales in Q3 reached 5,000 tons, significantly higher than market expectations and up from 2,200 tons in Q2 [1] - The effective tax rate dropped from 37% in Q2 to 27% in Q3, indicating a reduction in tax expenses by 900 million yuan compared to the previous quarter [1] Market Reaction - UBS anticipates a positive response from investors due to Luoyang Molybdenum's performance exceeding expectations [1] - The target price is set at 20.5 HKD with a "Buy" rating [1]

Core Viewpoint - Luoyang Molybdenum (03993.HK) opened nearly 5% higher and is currently up 4.94%, trading at 17 HKD with a transaction volume of 36.83 million HKD [1] Group 1 - The stock price of Luoyang Molybdenum has shown a significant increase, indicating positive market sentiment [1] - The trading volume of 36.83 million HKD reflects active investor interest in the stock [1] - The current price movement suggests potential bullish trends for the company in the short term [1]