Ge Long Hui·2025-12-16 04:00Core Viewpoint - Citigroup's research report indicates that while Jiangxi Copper's copper smelting business is expected to see a decline in gross profit next year, the anticipated increase in prices for copper, gold, and sulfuric acid will drive overall gross profit growth for the company in the coming year [1] Group 1: Price Predictions - The latest forecast for copper price is set at $12,750 per ton, while gold price is projected at $3,925 per ounce [1] - The expected increase in prices for copper, gold, and sulfuric acid is anticipated to positively impact the company's profitability [1] Group 2: Earnings Forecast Adjustments - Earnings forecasts for Jiangxi Copper for the years 2025 to 2027 have been raised by 8%, 38%, and 11% respectively, reaching 8.2 billion, 11.8 billion, and 11.5 billion [1] - The adjustments in earnings forecasts reflect the company's guidance and the expected market conditions [1] Group 3: Target Price Adjustments - The target price for Jiangxi Copper's H-shares has been increased from HKD 27.9 to HKD 39.8, while the target price for A-shares has been raised from CNY 33.8 to CNY 47.9 [1] - The current valuation is considered attractive, leading to a maintained "buy" rating for both A-shares and H-shares [1]