CMOC(603993) 证券时报网·2025-01-22 22:47Core Viewpoint - The significant increase in international copper prices in 2024 has led to a substantial enhancement in the profitability of upstream enterprises in the industry [1] Group 1: Company Performance - Luoyang Molybdenum Co., Ltd. (洛阳钼业) expects a net profit attributable to shareholders of 12.8 billion to 14.2 billion yuan for 2024, representing a year-on-year growth of 55.15% to 72.12% [1] - The company anticipates a non-recurring net profit of 12.4 billion to 13.8 billion yuan for 2024, an increase of 6.167 billion to 7.567 billion yuan compared to the previous year, reflecting a year-on-year growth of 98.94% to 121.4% [1] - The increase in performance is attributed to a significant rise in the production and sales of copper and cobalt, alongside higher copper prices and effective cost reduction measures [1] Group 2: Production Capacity - In 2024, Luoyang Molybdenum's copper production is expected to exceed 650,000 tons, a year-on-year increase of 55%, surpassing previous market expectations [1] - Cobalt production, as a by-product of copper, is projected to reach 114,000 tons, marking a year-on-year growth of 106% [1] - The company operates two world-class mines in the Democratic Republic of Congo (DRC), TFM and KFM, with TFM capable of producing 450,000 tons of copper and 37,000 tons of cobalt annually, while KFM has a capacity of 150,000 tons of copper and over 50,000 tons of cobalt [2] Group 3: Future Outlook - For 2025, the company has set production guidance of 600,000 to 660,000 tons of copper, 100,000 to 120,000 tons of cobalt, and other key products including molybdenum, tungsten, niobium, and phosphate [3] - The company is actively advancing exploration efforts at TFM West and KFM Phase II to support its goal of achieving copper production of 800,000 to 1,000,000 tons by 2028 [3]