2014-04-25 16:00Financial Performance - Operating income for the first quarter reached CNY 1,632,541,316.38, a 45.15% increase year-on-year[9] - Net profit attributable to shareholders increased by 79.18% to CNY 377,319,717.46 compared to the same period last year[9] - Basic earnings per share rose by 75.00% to CNY 0.07 compared to the same period last year[9] - The company reported a significant increase in net profit after deducting non-recurring gains and losses, which rose by 57.68% to CNY 288,927,539.67[9] - Comprehensive income for the period totaled RMB 471,228,230.75, compared to RMB 202,373,957.00 in the previous year, marking a 133.2% increase[38] - The company reported a total profit of RMB 393,625,556.98, which is a 53.0% increase from RMB 257,293,952.97 in the previous year[38] Cash Flow - Cash flow from operating activities increased by 34.47% to CNY 497,770,618.07 compared to the same period last year[9] - Cash flow from operating activities generated RMB 497,770,618.07, up from RMB 370,174,721.45 in the same quarter last year, indicating a 34.4% increase[44] - Net cash flow from operating activities rose to ¥390,653,482.60, up 60.5% from ¥243,523,656.28[48] - Cash inflow from investment activities totaled ¥642,123,474.57, compared to ¥704,305,372.94 in the previous period, a decrease of 8.8%[48] - Net cash flow from investment activities improved to ¥325,255,293.48 from ¥93,494,154.88, marking a significant increase[48] Assets and Liabilities - Total assets increased by 2.02% to CNY 22,341,312,079.13 compared to the end of the previous year[9] - Total liabilities decreased to CNY 8.95 billion from CNY 9.01 billion, a reduction of about 0.62%[32] - Current assets rose to CNY 7.45 billion, up from CNY 7.17 billion, indicating an increase of about 3.83%[31] - Cash and cash equivalents increased to CNY 2.50 billion, compared to CNY 1.88 billion at the beginning of the year, a growth of approximately 32.93%[30] - Total liabilities to equity ratio improved to approximately 0.67 from 0.70, indicating a stronger equity position[32] Shareholder Information - The total number of shareholders reached 53,680 at the end of the reporting period[12] - The largest shareholder, Luoyang Mining Group Co., Ltd., holds 35.00% of the shares[12] - Shareholders' equity increased to CNY 13.39 billion from CNY 12.89 billion, representing a growth of approximately 3.88%[32] Operational Highlights - The company produced approximately 3,749 tons of molybdenum concentrate with a cash production cost of RMB 64,453 per ton in Q1 2014[19] - The Northparkes copper mine contributed significantly to the increase in operating revenue, despite a decrease in molybdenum product prices by 18.47% year-on-year[17] - Total operating costs amounted to RMB 1,293,247,048.48, up 41.1% from RMB 916,862,948.17 year-over-year[37] Commitments and Independence - The company has received commitments from related parties, including Luoyang Guohong Investment Group, to avoid any plans to increase their shareholding in Luoyang Molybdenum Co., Ltd. within the next 12 months[23] - The actual controller, Mr. Yu Yong, has committed that neither he nor his controlled enterprises will produce or develop any competing products with Luoyang Molybdenum's offerings[23] - The company has established a commitment to maintain independence in its operations, ensuring that its main business does not rely on shareholders or related parties[28] - The financial independence of Luoyang Molybdenum is guaranteed, with separate financial institutions and independent financial management systems in place[28] - The commitments from related parties include provisions for compensation in case of any breach of these agreements[26]