2 1 Shi Ji Jing Ji Bao Dao·2025-07-25 10:05Core Viewpoint - Luoyang Molybdenum Co., Ltd. has achieved significant growth, with a market capitalization exceeding 200 billion yuan and a revenue of 213.03 billion yuan in 2024, ranking 138th in the Fortune China 500 list. The company is focused on sustainable growth through resource acquisitions and project expansions [1][4]. Group 1: Financial Performance - In the first half of the year, the company expects a net profit attributable to shareholders between 8.2 billion and 9.1 billion yuan, representing a year-on-year increase of 51.37% to 67.98% [4]. - The average price of LME copper increased by only 2.5% in the first half, yet the company anticipates a 12.68% increase in copper production to approximately 360,000 tons [4][8]. - The cobalt price has rebounded significantly due to an export ban from the Democratic Republic of Congo, with the average price rising from $9.95 per pound to over $16 per pound [5][6]. Group 2: Project Development - The company maintains its production capacity targets for the TFM and KFM projects, with a goal of reaching 800,000 to 1,000,000 tons of copper capacity by 2028 [10][15]. - The Cangrejos gold mine in Ecuador is expected to start production before 2029, with an average annual gold output of approximately 370,000 ounces (11.5 tons) [11][15]. - The company has a strong cash flow, with operating cash inflow expected to reach 32.4 billion yuan in 2024, a 108.4% increase year-on-year [12]. Group 3: Acquisition Strategy - The company is focusing on acquisitions primarily in copper and gold, while also considering opportunities in other metals [13]. - The company does not prioritize short-term price fluctuations but evaluates acquisition opportunities based on a long-term perspective of 10 to 20 years [2][14]. - The company has identified multiple potential acquisition projects and is well-prepared for future resource acquisitions [13][15].