Zhong Guo Jin Rong Xin Xi Wang·2025-08-28 06:54Core Viewpoint - Luoyang Molybdenum's strong performance in the first half of 2025 is driven by significant profit growth despite a decline in revenue, showcasing effective cost control and rising metal prices [1][2]. Financial Performance - The company's net profit attributable to shareholders reached 8.671 billion yuan, a substantial increase of 60.07% year-on-year, marking a historical high for the same period [1]. - Revenue for the first half of the year was 94.773 billion yuan, down 7.83% year-on-year, primarily due to a decline in the trading business [1]. - Operating costs decreased by 10.96% to 74.727 billion yuan, with financial expenses dropping significantly by 43.99% [1]. Mining Segment Performance - Mining revenue reached 39.402 billion yuan, accounting for approximately 42% of total revenue, an increase of 11% and 28% compared to the same periods in 2024 and 2023, respectively [2]. - Copper production was 353,600 tons, up 12.68% year-on-year, with copper mining revenue at 25.718 billion yuan, representing 65% of mining revenue [2]. - Cobalt production reached 61,100 tons, with mining revenue of 5.728 billion yuan, a year-on-year increase of 31.94% [2]. Management Changes and Strategy - In April, the company underwent a significant management overhaul, establishing a new team focused on internationalization and professionalism [3]. - The new management aims to transform the company into a platform-type mining company, with plans for acquisitions and mergers [3][4]. - In June, the company acquired Lumina Gold for 581 million Canadian dollars (approximately 307.6 million yuan), securing the Cangrejos gold mine in Ecuador, which contains 359 tons of gold [3]. Future Development Plans - The company plans to diversify its product offerings, focusing on copper and gold while expanding into molybdenum and tungsten [4]. - It aims to explore opportunities in various countries, particularly in Africa and South America, to create synergies [4]. - The strategy includes both expanding existing projects and considering green projects for future development [4].