1400亿锂矿巨头，股价5年狂飙30倍，今年利润或创新高

Core Viewpoint - Cangge Mining (000408.SZ) has emerged as one of the most successful mining companies in recent years, both in terms of performance and stock price growth [1] Financial Performance - Cangge Mining's net profit attributable to shareholders is projected to be between 3.7 billion and 3.95 billion yuan for 2025, representing a year-on-year growth of 43.41% to 53.1% [2] - The investment income from its stake in Jilong Copper Industry is expected to reach 2.68 billion yuan in 2024, accounting for approximately 70% of the company's net profit [2] - In 2023, Cangge Mining's net profit was 3.42 billion yuan, with a decline of less than 40% year-on-year, largely due to increased investment income from Jilong Copper [7][9] Market Position and Stock Performance - Cangge Mining's stock price increased by 210% in 2025, positioning it as the second-best performer in the industry [2] - The company has successfully decoupled from the lithium mining sector, allowing it to maintain an independent upward trend in stock price [2] - As of January 13, Cangge Mining's stock price reached 89.9 yuan per share, with a total market capitalization of 141.2 billion yuan [16] Production and Capacity Expansion - Jilong Copper's production is expected to continue growing, with an estimated output of 19 million tons by 2025, making it one of the largest copper mines in China [10][11] - Cangge Mining's lithium production from the Mami Cuo Salt Lake project is projected to be between 5,000 and 6,000 tons in 2026, contributing to overall profitability [11] - The company plans to add 1.5 million tons of industrial salt (sodium chloride) products, further enhancing its revenue streams [11] Strategic Developments - Cangge Mining became part of the Zijin Mining Group, which has provided new growth opportunities and potential asset injections [18] - The acquisition by Zijin Mining has led to significant increases in stock value for both the company and its shareholders, with estimates suggesting a potential profit recovery to peak levels seen in 2022 [12][20]