2025-10-24 09:20Financial Performance - The company's operating revenue for the third quarter was ¥50.71 billion, a decrease of 2.36% compared to the same period last year[9]. - Total profit for the quarter reached ¥9.17 billion, an increase of 64.37% year-on-year[9]. - Net profit attributable to shareholders was ¥5.61 billion, reflecting a significant increase of 96.40% compared to the previous year[9]. - The basic earnings per share for the quarter was ¥0.26, up 85.71% year-on-year[9]. - Total revenue for the first three quarters of 2025 was approximately ¥145.49 billion, a decrease of 6.8% compared to ¥154.75 billion in the same period of 2024[38]. - Operating profit for the first three quarters of 2025 reached ¥24.16 billion, an increase of 44.1% from ¥16.76 billion in 2024[39]. - Net profit for the first three quarters of 2025 was ¥16.49 billion, up 73.5% from ¥9.52 billion in 2024[39]. - Basic earnings per share for the first three quarters of 2025 were ¥0.67, compared to ¥0.39 in 2024, reflecting a 71.8% increase[39]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥184.19 billion, representing an 8.20% increase from the end of the previous year[9]. - Total assets increased to approximately ¥184.19 billion in 2025 from ¥170.24 billion in 2024, marking an 8.2% growth[36]. - Total liabilities rose to approximately ¥89.46 billion in 2025, compared to ¥84.29 billion in 2024, indicating a 6.9% increase[36]. - Non-current assets totaled approximately ¥91.39 billion in 2025, slightly up from ¥91.06 billion in 2024[36]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥15.86 billion, down 8.20% year-on-year[14]. - Operating cash inflow for the first three quarters of 2025 was CNY 148.15 billion, compared to CNY 154.98 billion in the same period of 2024, reflecting a decrease of approximately 4.5%[41]. - Net cash flow from operating activities increased to CNY 17.28 billion in 2024 from CNY 15.86 billion in 2025, representing a growth of about 8.9%[41]. - Cash outflow from investment activities surged to CNY 17.25 billion in 2024, up from CNY 9.47 billion in 2025, indicating an increase of approximately 82.5%[42]. - Net cash flow from investment activities was negative CNY 8.60 billion in 2024, compared to negative CNY 2.81 billion in 2025, showing a worsening of about 206.4%[42]. - Cash inflow from financing activities rose to CNY 55.96 billion in 2024, compared to CNY 49.89 billion in 2025, marking an increase of approximately 12.5%[42]. - Net cash flow from financing activities improved to negative CNY 7.40 billion in 2024 from negative CNY 9.71 billion in 2025, reflecting a reduction of about 23.8%[42]. - The cash and cash equivalents at the end of the period were CNY 30.67 billion in 2025, compared to CNY 27.12 billion in 2024, indicating an increase of approximately 13.5%[42]. Production and Sales - The company produced 543,376 tons of copper, a 14.14% increase compared to the same period last year, while sales increased by 10.56% to 520,312 tons[21]. - Cobalt production reached 87,974 tons, up 3.84%, but sales dropped by 36.08% to 51,027 tons[21]. - The company reported a revenue of CNY 38.62 billion from copper, with a gross margin of 54.07%, an increase of 1.73 percentage points year-on-year[26]. - The company’s refined metal product sales revenue was CNY 72.17 billion, with a gross margin of 0.34%, a decrease of 2.69 percentage points year-on-year[27]. - The company’s mining and processing segment reported a revenue of CNY 6.18 billion from cobalt, with a gross margin of 63.46%, an increase of 26.97 percentage points year-on-year[26]. Investments and Projects - The company plans to invest USD 1.084 billion in the KFM Phase II project in the Democratic Republic of Congo, expected to be completed by 2027, adding a processing capacity of 7.26 million tons per year[29]. Shareholder Information - The top ten shareholders collectively hold 75.77% of the company's shares, with the largest shareholder owning 24.93%[17]. Research and Development - Research and development expenses increased to ¥331.62 million in 2025, up from ¥224.61 million in 2024, representing a 47.7% increase[38]. Other Financial Metrics - The weighted average return on equity increased to 6.95%, up by 2.29 percentage points compared to the previous year[9]. - The company reported a significant reduction in financial expenses, decreasing from ¥2.56 billion in 2024 to approximately ¥1.03 billion in 2025[38]. - The company’s deferred tax assets increased to approximately ¥2.09 billion in 2025, compared to ¥1.59 billion in 2024, reflecting a 31.5% increase[36]. - The company achieved a Wind ESG "AAA" rating and was listed among the top 100 large-cap companies for the first time[29].