Xin Hua Cai Jing·2025-08-28 06:55Core Insights - Luoyang Molybdenum's net profit for the first half of 2025 reached 8.671 billion yuan, a significant increase of 60.07% year-on-year, marking a historical high for the same period [2] - The company is accelerating its transformation into a "platform-type mining company" with a strategy focused on "multiple varieties," "multiple countries," and "multiple stages" to enhance development resilience [2][5] Financial Performance - Revenue for the first half of 2025 was 94.773 billion yuan, a decrease of 7.83% year-on-year, primarily due to a decline in the trading business [2] - Despite the revenue decline, net profit reached a historical high of 8.671 billion yuan, benefiting from rising prices of key products and effective cost control [2] - The gross margins for copper, cobalt, and molybdenum increased by 1.27, 19.66, and 4.45 percentage points respectively, driven by higher metal prices [2] Mining Segment Performance - The mining segment generated revenue of 39.402 billion yuan, accounting for approximately 42% of total revenue, an increase of 11% and 28% compared to the same period in 2024 and 2023 respectively [3] - Copper production reached 353,600 tons, a year-on-year increase of 12.68%, with copper mining revenue at 25.718 billion yuan, representing 65% of mining revenue [3] - Cobalt production was 61,100 tons with mining revenue of 5.728 billion yuan, a year-on-year increase of 31.94% [3] Management Changes and Future Plans - In April 2025, Luoyang Molybdenum underwent a significant management overhaul, forming a new team characterized by internationalization, professionalism, and youth [4] - The new management team aims to transform the company into a platform-type mining company, including plans for acquisitions [4] - In June 2025, the company acquired Lumina Gold for 581 million Canadian dollars, securing the Cangrejos gold mine in Ecuador, which contains 359 tons of gold [4] Strategic Development Directions - The company plans to expand in three directions: diversifying product offerings to include copper and gold, exploring opportunities in various countries, and considering both operating and green projects for future growth [5]