Shang Hai Zheng Quan Bao·2026-01-15 12:42Core Viewpoint - Luoyang Molybdenum Co., Ltd. (LM) expects significant growth in its 2025 financial performance, driven by increased production and effective cost management [1] Group 1: 2025 Performance Expectations - The company anticipates a net profit attributable to shareholders of between 20 billion to 20.8 billion yuan, representing a year-on-year increase of 47.80% to 53.71% [1] - The expected net profit excluding non-recurring items is projected to be between 20.4 billion to 21.2 billion yuan, reflecting a growth of 55.5% to 61.6% year-on-year [1] - Production of copper is expected to reach 741,149 tons in 2025, exceeding the initial guidance by 18% [1] Group 2: Production Achievements - The company has surpassed its production targets for all major products in 2025, including cobalt (117,549 tons, 107% of target), molybdenum (13,906 tons, 103% of target), tungsten (7,114 tons, 102% of target), and niobium (10,348 tons, 103% of target) [1] - Phosphate fertilizer production is projected at 1.21 million tons, achieving 105% of the target, while the physical trade volume reached 4.774 million tons, completing 112% of the target [1] Group 3: 2026 Production Guidance - For 2026, the company has set production guidance for copper at 760,000 to 820,000 tons, cobalt at 100,000 to 120,000 tons, and molybdenum at 11,500 to 14,500 tons [2] - The company is actively advancing the KFM Phase II construction, which is expected to add 100,000 tons of copper production annually starting in 2027 [2] - Plans for the TFM Phase III project are underway, aiming to achieve a copper production target of 1 million tons by 2028 [2]