铜陵有色时隔9年再启中期分红 将派现6.7亿占净利46.5%

Core Viewpoint - Company resumes interim cash dividend distribution after 9 years, proposing a cash dividend of 670 million yuan, accounting for 46.5% of the net profit attributable to shareholders for the first half of 2025 [1][3]. Financial Performance - In the first half of 2025, the company reported operating revenue of 76.08 billion yuan, a year-on-year increase of 6.39%, marking a record high for the period; net profit attributable to shareholders was 1.441 billion yuan, a decrease of 33.94% [2][7]. - The company has cumulatively achieved a net profit of 25.392 billion yuan since its listing [8]. Dividend and Share Buyback - The proposed cash dividend of 670 million yuan is part of a broader shareholder return strategy, which includes a total of 8 billion yuan spent on dividends and share buybacks since listing [3][6]. - The company has set a target to distribute at least 50% of its distributable profits in cash over the next three years, contingent on meeting cash dividend conditions [4]. Market Performance - The company's stock price has increased approximately 65% year-to-date, closing at 5.16 yuan per share on September 29, 2025, up from 3.13 yuan at the beginning of the year [2][9]. Production Capacity and Expansion - The company has expanded its production capacity, with the Mirador copper mine's second phase expected to reach full production by 2026, adding 140,000 tons of copper concentrate capacity per year [8][9]. - As of mid-2025, the company has an annual cathode copper production capacity exceeding 1.7 million tons and an annual production capacity of 80,000 tons for high-precision electronic copper foil [9].