Core Viewpoint - Tengyuan Cobalt's profitability has significantly improved due to the gradual release of production capacity from domestic and international projects, leading to substantial revenue and profit growth in 2024 [1][2]. Group 1: Financial Performance - In 2024, Tengyuan Cobalt achieved an operating income of 6.542 billion yuan, a year-on-year increase of 18.02%, and a net profit attributable to shareholders of 685 million yuan, up 81.24% [1]. - The net profit excluding non-recurring gains and losses was 671 million yuan, reflecting an increase of 83.39% year-on-year [1]. - The sales volume of cobalt, nickel, and lithium products saw significant year-on-year growth of 22.8%, 658.92%, and 1368.38%, respectively, while copper sales volume increased by 11.55% [2]. Group 2: Production Capacity and Projects - The company has invested 1.101 billion yuan in its IPO fundraising projects, achieving a progress rate of 64.84% [2]. - Tengyuan Cobalt plans to establish a joint venture in Hong Kong to develop a copper mining project in the Democratic Republic of Congo, with an investment of 980 million yuan (approximately 136 million USD) [3]. - The new project aims to build a hydrometallurgical plant with an annual capacity of 30,000 tons of copper and 2,000 tons of cobalt, with a projected internal rate of return of 35.01% after tax [3]. Group 3: Market Position and Future Outlook - The expansion of production capacity through new projects is expected to enhance the company's economies of scale and competitiveness in the global cobalt and copper markets [3]. - Despite the strong performance in 2024, the company reported a decline in revenue and net profit in the first quarter of 2025, with operating income of 1.461 billion yuan, down 3.59% year-on-year, and net profit of 123 million yuan, down 14.27% [2].
腾远钴业产能释放年赚6.85亿元 拟出海投建项目提升市场竞争力