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11月30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12月2日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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 (如上市) | 03993 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 3,933,468,000 | | 0 | | 3,933,468,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 3,933,468,000 | | 0 | | 3,933,468,000 | | 2. 股份分類 | 普通 ...

2024 年第一次临时股东大会会议资料 （SSE：603993 HKEX：03993） 洛阳栾川钼业集团股份有限公司 2024 年第一次临时股东大会、 2024 年第一次 A 股类别股东大会、 2024 年第一次 H 股类别股东大会 会议资料 二零二四年十二月十日 2024 年第一次临时股东大会会议资料 目 录 | 2024 年第一次临时股东大会、2024 年第一次 A 股类别股东大会、2024 年第一次 H 股类别 | | --- | | 股东大会会议须知 - 1 - | | 2024 年第一次临时股东大会、2024 年第一次 A 股类别股东大会、2024 年第一次 H 股类别 | | 股东大会会议议程 - 4 - | | 2024 年第一次临时股东大会议案 | | 普通决议案 1：关于公司全资子公司洛钼控股与宁德时代新能源科技股份有限公司签署持续 | | 关联交易协议的议案 - 5 - | | 普通决议案 2：关于公司与关联附属子公司签署持续关连交易协议的议案 - 10 - | | 特别决议案 3：关于注销部分回购股份并减少注册资本的议案 - 16 - | | 特别决议案 4：关于变更公司注册资本、企业类 ...

证券代码：603993 证券简称：洛阳钼业 公告编号：2024-054 洛阳栾川钼业集团股份有限公司 关于召开 2024 年第一次临时股东大会、2024 年第一次 A 股 类别股东大会和 2024 年第一次 H 股类别股东大会的通知 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、 召开会议的基本情况 (一) 股东大会类型和届次 2024年第一次临时股东大会、2024年第一次A股类别股东大会和2024 年第一次 H 股类别股东大会 股东大会召开日期：2024年12月10日 本次股东大会采用的网络投票系统：上海证券交易所股东大 会网络投票系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络 投票相结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2024 年 12 月 10 日 10 点 00 分 召开地点：河南省洛阳市洛龙区开元大道 239 号洛阳国际大酒店 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会 ...

股票代码：603993 股票简称：洛阳钼业 编号：2024—053 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 2024年6月7日，公司2023年年度股东大会审议通过《关于本公司 | 序 | 被担保方 | 与公司关系 | 计划担保 | 担保合同 | 实际担保 | 担保 | | --- | --- | --- | --- | --- | --- | --- | | 号 | | | 金额 | 金额 | 发生额 | 期限 | | 1 | IXM SA | 全资子公司 | 1,250 万 | 1,250 万 | 0 | 2 个月 | | | | | 美元 | 美元 | | | | 2 | 洛阳栾川钼业集团钨业有 | 全资子公司 | 2 亿元 | 1.5 亿元 | 1.5 亿元 | 6 个月 | | | 限公司 | | 人民币 | 人民币 | 人民币 | | | 3 | 洛阳鼎鸿贸易有限公司 | 全资子公司 | 5 亿元 | 3.8 亿元 ...

Investment Rating - The report initiates coverage on Luoyang Molybdenum with a "Buy" rating and a target price of 9.8 RMB per share, based on a 17x PE multiple for 2024 [1][3] Core Views - Luoyang Molybdenum is a global mining giant with a diversified portfolio of world-class assets, including copper, cobalt, molybdenum, tungsten, and niobium. It is the largest cobalt producer globally and a leading phosphate fertilizer producer in Brazil [1] - The company is entering a new phase of international expansion, aiming to double its production capacity over the next five years as part of its "Three-Step" strategy [1] - Copper prices are expected to rise steadily due to tight supply and growing demand, while cobalt prices are expected to rebound after a period of oversupply [1] - The TFM and KFM copper-cobalt projects are entering a phase of concentrated production release, with significant growth in output and profitability expected [1] Financial Performance and Valuation - Revenue is projected to grow from 186.27 billion RMB in 2023 to 222.90 billion RMB in 2026, with a CAGR of 5.85% [2] - Net profit attributable to shareholders is expected to increase from 8.25 billion RMB in 2023 to 15.90 billion RMB in 2026, with a CAGR of 10.08% [2] - The company's PE ratio is forecasted to decline from 14.08x in 2024 to 11.01x in 2026, indicating improving valuation metrics [2] Copper Market Outlook - Copper supply is constrained by declining capital expenditures, resource depletion, and limited scrap copper availability, while demand is supported by traditional sectors like power grid investments and emerging sectors like renewable energy [1][26] - The global copper market is expected to face a growing supply-demand gap, with copper prices projected to rise steadily in the medium to long term [26][53] Cobalt Market Outlook - Cobalt prices are expected to remain weak in the short term due to oversupply from the Democratic Republic of Congo and Indonesia, but demand is expected to grow at an 11% CAGR from 2023 to 2030, driven by the electric vehicle battery sector [1][57] - Luoyang Molybdenum has become the world's largest cobalt producer, surpassing Glencore, with a 24% global market share in 2023 [62] Production and Capacity Expansion - Luoyang Molybdenum's copper and cobalt production capacity has doubled, with copper output reaching 600,000 tons/year and cobalt output reaching 87,000 tons/year [1] - The company plans to further increase copper production to 800,000-1,000,000 tons/year and cobalt production to 90,000-100,000 tons/year over the next five years [1] Competitive Advantages - The company has leveraged counter-cyclical acquisitions to secure world-class mineral resources at low costs, giving it a competitive edge in resource development [1] - Its integrated mining and trading model, through the IXM platform, enhances operational efficiency and extends the value chain, creating synergies across its business segments [1]

Investment Rating - The report maintains a "Buy" rating for the company [1][3]. Core Insights - The company has achieved significant growth in copper and diamond production, laying a solid foundation for its five-year development goals [3][15]. - The company reported a revenue of 154.8 billion yuan for the first three quarters of 2024, representing an 18% year-on-year increase, and a net profit of 8.3 billion yuan, up 239% year-on-year [9][10]. - The production costs for copper and diamonds have decreased significantly, contributing to improved profit margins [27][31]. Performance Summary - **Revenue and Profit**: In Q1-Q3 2024, the company achieved a revenue of 154.8 billion yuan, with a net profit of 8.3 billion yuan and a non-net profit of 8.6 billion yuan, marking increases of 18%, 239%, and 531% respectively [9][10]. - **Production Volumes**: The company produced 476,000 tons of copper, a 78.2% increase year-on-year, and 85,000 tons of diamonds, a 127.4% increase year-on-year [15][34]. - **Cost Management**: The production cost for copper was 31,000 yuan per ton, down 9.8% from the previous year, while diamond production costs decreased by 26.1% [27][30]. Financial Forecast and Investment Recommendations - The company forecasts net profits of 11.7 billion yuan, 13.2 billion yuan, and 14.8 billion yuan for 2024, 2025, and 2026 respectively, maintaining the profit estimates for 2024-2026 [3][4]. - The report emphasizes the strong growth potential and quality of growth, supported by effective cost control and a declining debt ratio [3][4][19].

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company reported a revenue of 154.75 billion yuan for the first three quarters of 2024, a year-on-year increase of 17.5%, and a net profit attributable to shareholders of 8.27 billion yuan, up 238.6% year-on-year [1] - The copper segment is the main source of profit, contributing 72% of the mining business's gross profit [2] - The company expects copper production in 2024 to exceed the guidance provided in the 2023 annual report, with a target of 520,000 to 570,000 tons [2][3] - The company has initiated expansion projects at TFM and KFM, with promising exploration results [3] - The report is optimistic about copper prices continuing to rise, particularly from Q4 2024 onwards due to tightening supply [3] Summary by Sections Financial Performance - For Q3 2024, the company achieved a revenue of 51.94 billion yuan, a year-on-year increase of 15.5% but a quarter-on-quarter decrease of 8.4% [1] - The gross profit for the mining segment was 22.34 billion yuan, with the copper segment contributing 16.08 billion yuan, accounting for 57.7% of the company's total gross profit [2] Production Outlook - The company produced 476,000 tons of copper in the first three quarters of 2024, a year-on-year increase of 78.2% [2] - The company has set a five-year plan aiming for an annual copper production of 800,000 to 1 million tons by 2028 [3] Industry Perspective - The report anticipates a tightening supply of copper and scrap copper starting in the second half of 2024, which is expected to positively impact copper prices [3] Profit Forecast and Valuation - The report forecasts net profits of 11.90 billion yuan, 15.63 billion yuan, and 16.67 billion yuan for 2024, 2025, and 2026 respectively, with corresponding PE ratios of 14, 11, and 10 times [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a significant increase in net profit for the first three quarters of 2024, with a year-on-year growth of 238.62% [2] - The revenue for the first three quarters of 2024 reached 154.76 billion yuan, representing a year-on-year increase of 17.52% [2] - The production of copper and cobalt has increased significantly due to the commissioning of new projects in the Democratic Republic of Congo, with copper revenue growing by 150.12% and cobalt revenue by 636.85% [2] - The company is expected to maintain strong profit growth, with projected net profits of 118.3 billion yuan, 133.1 billion yuan, and 148.6 billion yuan for 2024, 2025, and 2026 respectively [2] Financial Summary - For 2024, the company is expected to achieve a revenue of 199.47 billion yuan, with a year-on-year growth of 7.1% [3] - The projected net profit for 2024 is 11.83 billion yuan, reflecting a year-on-year increase of 43.3% [3] - The gross margin is expected to improve to 15.8% in 2024, up from 9.7% in 2023 [3] - The company's return on equity (ROE) is projected to be 17.5% in 2024, compared to 13.9% in 2023 [3] - The price-to-earnings (P/E) ratio is expected to be 13.88 in 2024, indicating a slight increase from 13.68 in 2023 [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company has shown strong revenue growth, with a 17.5% year-on-year increase in revenue for the first three quarters of 2024, reaching 154.75 billion yuan [3] - The net profit attributable to shareholders increased significantly by 238.6% year-on-year, amounting to 8.27 billion yuan for the same period [3] - The copper production exceeded expectations, with a year-on-year increase of 78.2%, and sales increased by 160.98% [4] - The company is entering a capacity release phase, with projected net profits for 2024-2026 expected to be 11.31 billion, 13.96 billion, and 16.70 billion yuan respectively [6] Financial Performance Summary - Revenue for 2022 was 172.99 billion yuan, with a forecasted increase to 203.09 billion yuan in 2024, representing a growth rate of 9% [1] - Net profit for 2022 was 6.07 billion yuan, expected to rise to 11.31 billion yuan in 2024, reflecting a growth rate of 37% [1] - Earnings per share (EPS) is projected to increase from 0.38 yuan in 2023 to 0.52 yuan in 2024 [1] - The price-to-earnings (P/E) ratio is expected to decrease from 20.3 in 2023 to 14.8 in 2024, indicating improved valuation [1] Production and Pricing Insights - The average price of copper on the LME for the first three quarters of 2024 was $9,156 per ton, a year-on-year increase of 6.72% [4][11] - The average price of tungsten (APT) increased by 11.78% year-on-year, reaching 200,000 yuan per ton [4][11] - The company’s copper production is projected to exceed initial guidance of 520,000 to 570,000 tons for the year [4] Market Position and Future Outlook - The company is positioned to become a leading global resource enterprise, with plans to achieve annual copper production of 800,000 to 1,000,000 tons and cobalt production of 90,000 to 100,000 tons over the next five years [4][6] - The company has secured a long-term power supply agreement for a 200 MW hydropower station, which will support its production capacity expansion [6]