Sou Hu Cai Jing·2025-10-24 14:21Core Viewpoint - Luoyang Molybdenum Co., Ltd. reported significant growth in net profit for the first three quarters of the year, driven by rising copper prices and increased production, surpassing last year's total earnings [2][4]. Financial Performance - The company's revenue for the first three quarters was 145.485 billion yuan, a decrease of 5.99% year-on-year; however, net profit attributable to shareholders reached 14.280 billion yuan, an increase of 72.61%, marking a historical high for the period [2]. - In Q3 alone, revenue was 50.713 billion yuan, down 2.36% year-on-year, while net profit was 5.608 billion yuan, up 96.40% [3]. Production and Sales - Copper production reached 543,400 tons, a year-on-year increase of 14.14%, achieving 86.25% of the annual target; copper sales were 520,300 tons, up 10.56% [4]. - The mining segment generated 56.594 billion yuan in revenue, accounting for nearly 40% of total revenue, with the copper segment contributing 38.618 billion yuan, representing over 68% of mining revenue [4]. Cost Management - The company focused on cost reduction, with operating costs decreasing by 10.94% year-on-year; the target for cost per ton of ore is set to decrease by 3%-15% [5]. Investment Plans - Luoyang Molybdenum announced a planned investment of 1.084 billion USD to develop the KFM Phase II project in the Democratic Republic of Congo, expected to produce an additional 100,000 tons of copper annually upon completion in 2027 [5]. Management Changes - Recent management changes include the resignation of President Sun Ruiwen and Vice President Kenny Ives, with Peng Xuhui appointed as the new President and CEO, and Branko Buhavac as Vice President and Chief Commercial Officer [6][7]. - The new management team aims to implement strategic changes and enhance operational efficiency, with plans for a stock incentive program to attract global talent [8].