Zheng Quan Shi Bao·2026-01-15 18:12Core Viewpoint - Luoyang Molybdenum Co., Ltd. (603993) expects significant growth in net profit for 2025, driven by increased production and effective cost management [1] Group 1: Financial Performance - The company forecasts a net profit attributable to shareholders of between 20 billion to 20.8 billion yuan for 2025, representing a year-on-year increase of 47.8% to 53.71% [1] - The expected non-net profit is projected to be between 20.4 billion to 21.2 billion yuan, reflecting a year-on-year growth of 55.5% to 61.6% [1] Group 2: Production Performance - In 2025, Luoyang Molybdenum's copper production is expected to reach 741,100 tons, an increase of over 90,000 tons compared to the previous year, achieving 118% of the production target [1] - The company also exceeded production expectations for other products, including cobalt (117,500 tons), molybdenum (13,900 tons), tungsten (7,114 tons), niobium (10,300 tons), and phosphate fertilizer (1.21 million tons) [1] Group 3: Future 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 other metals with specific targets [2] - The company is actively advancing the KFM Phase II project, expected to add 100,000 tons of copper production annually starting in 2027, and is planning the TFM Phase III project to achieve a target of 1 million tons of copper by 2028 [2] Group 4: Gold Asset Acquisition - In response to rising precious metal prices, Luoyang Molybdenum is expanding its gold assets, including the acquisition of the Ecuadorian KGHM gold mine and Brazilian gold assets for a total of $1.015 billion [3] - The acquired assets contain a total gold resource of 5.013 million ounces, with an expected annual production increase of approximately 8 tons, potentially exceeding 20 tons after the Ecuadorian mine begins production [3]